Tags: Software Solutions, Technology Industry
By Anna Valmero
PASIG CITY, METRO MANILA—A business software intelligence solution is critical to aid executives in making smarter choices fast based on useful company information and insights on industry best practices, executives from SAP said.
Most companies today have multiple data sources during operations but are unconsolidated, thus preventing rapid time-to-value and better decisions for operations, said Eric Sin, senior director for business user and platform at SAP’s Southeast Asia Hub.
In the retail business, for example, information on sales are on the fly and the lack of information on stocks of different stores results in lost sales, Sin explained.
“If you don’t know how a store is performing and which items needs to be restocked because they are in demand, then you are losing critical sales in your business,” he said.
Apart from taking a consolidated view of how each store performs, business intelligence solutions allow business leaders to take a holistic view of how his business is at par with similar vendors by analyzing external factors for lost sales such as decent competition and pricing.
“By doing so, business leaders are able to analyze their performance design and identify which products are at risk due to competition or which products offer the business the advantage in the industry,” Sin said.
In the public sector, it is also critical to take a holistic view of the information especially during the planning and consolidation of budget for the fiscal year.
In the the Philippines,which has a thriving retail industry, integration of business information from daily operations is critical to analyze losses made per year and possible maneuvers to improve stocking of items in high-performance stores, Sin said.
In line with this, SAP launched BusinessObjects, a set of analytic applications for specific industries like retail, healthcare, consumer products and telecommunications.
To facilitate deployment in 90 days or less, the solution is integrated into the customer’s system and taps existing data, thus requiring no migration; for hosting and data warehousing, SAP has teamed up with HP and Teradata, said Sin.
Tommy Hor, director of Computer Centre at the National University of Singapore said that NUS has worked with SAP to develop the solution.
Through accessing information on project expenses, timeline, cash flow and other research performance measures, researchers are able to spend time on innovation and accelerating research findings, he said.
“It is understood that company data comes from different sources so our data model harnesses this existing data and pools them to enable the business leader understand critical information like the items that are not sold for the last six months and the items that needs to be restocked immediately in a particular store due to high demand. These choices enable the business to perform better than competitors,” said Sin.
The power of effective decision making from the CEO to the shop floor, when duplicated across thousands of employees adds up significant value to the company through speed and changed behaviors and provides instant value to any organization, he added.
“It is important that you know how to use information from the business to benefit not only your margins but the overall performance of the business in terms of daily operations by making smarter choices,” Sin concluded.
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I think that during the economic recovery that will take place over the next few years, we’ll see more and more industries adopting BI to consolidate different data sources and gain timely insight from their data.