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Manufacturers are always trying to optimize data to improve productivity. Optimized data allows them to accurately measure their performance and understand where their companies stand in terms of profit. To that end, business intelligence (BI) software designed especially for manufacturers can be extremely helpful.
Apart from helping improve productivity, manufacturing BI software allows manufacturers to enhance sales, revenue, and return on investments (ROI) by using insights through data analysis.
However, selecting one manufacturing BI software product from among the hundreds on the market can be overwhelming. That's why we've created this Buyer's Guide to detail everything you need to know before making the final purchase decision.
Here's what we'll cover:
What is manufacturing BI Software?
Common features of manufacturing BI software
What type of buyer are you?
Benefits of manufacturing BI software
Key considerations
Manufacturing BI software collects data such as total units manufactured, total units sold, total shipments, and buyer demographics from a manufacturer's existing systems as well as from across the supply chain. The software then analyzes data and provides actionable insights.
Manufacturing BI software allows manufacturers to make informed business decisions related to future sales strategies, materials management, and buyer targeting.
Analyze total sales, units sold, buyer demographics in Sisense BI software
Different vendors offer different features in their manufacturing BI software. Selecting the best manufacturing BI software for your setup is easier when you know what the common features are and what they do.
Data mining |
Scan through large volumes of data to identify previously unknown or new patterns. This is the fundamental step of business intelligence that other processes, such as predictive analytics, rely on. |
Predictive analytics |
Forecast demand, predict customer behavior, and prepare strategies using statistical tools. |
Online analytical processing (OLAP) |
Perform multidimensional analysis of large volumes of data. |
Dashboards |
Highlight a manufacturing business's key performance indicators (KPIs) and focus on critical metrics. |
Data visualization |
Create graphical representations of business data using simple user interfaces. |
Trend indicators |
Identify patterns in production, sales, or distribution channels and decide on business strategy. |
Scorecards |
Attach or assign a numerical weight to each KPI and then map its progress. For instance, a scorecard might assign an "A+" grade to 40 percent annual revenue growth if the goal was set at 20 percent. |
To further understand these features and learn about manufacturing BI software vendors, call our advisors at 855-998-8505 for free, no-obligation help. They'll help you narrow down your options by listening to your requirements and recommending the best-suited solutions for your business.
Before you start evaluating manufacturing BI software options, you'll want to know what buyer category you belong to. We believe most buyers will fall into one of the below categories:
While some of the benefits of manufacturing BI software may be clear from our discussion above, we've called out the most notable ones below:
Here are some important questions to consider before you purchase manufacturing BI software: