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Why is Building a BI Strategy Important

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Why is Building a BI Strategy Important?

July 26, 2021

Global Data 365 is composed of highly skilled professionals who specialize in streamlining the data and automate the reporting process through the utilization of various business intelligence tools.

Why is Building a BI Strategy Important

One of the many problems we hear from business executives is that they are still having trouble getting straightforward and reliable reporting from their business software systems. They recognize that they have a large amount of data, but the method of extracting, arranging, and evaluating it still seems to be much more difficult than it should be. That is why Global Data 365 was formed: to make the process easier, more efficient, and available to everyone in the company.

Business intelligence is the method of transforming raw data into actionable information. It helps you to gather data from various sources, arrange it, and then analyse it. In recent years, BI has exploded in popularity among small and mid-sized businesses (SMEs), owing to advances in technology that have made powerful analytics accessible to businesses of all sizes.

When you realize the real business advantages that powerful reporting can offer, BI resources provide a very good return on investment. A BI strategy will enable you to solve all of your data problems and requirements, create a coherent structure, and sustain it. What happens if you begin BI implementation without a plan? In other words, if you are focused on making those graphs, but no one in the business understands why or how to use them.

There is no one-size-fits-all solution because every other organization is unique. In the end, it’s all about figuring out where the company is now, where you want it to go in the future, and how you will get there.

Why Stock Reporting Tools Are Not Effective

Most businesses already use a variety of monitoring methods, and they may not even be aware of how disorganized their processes are. Consider the different tech platforms that your company employs. The majority of businesses use an ERP system to manage their financial and operational activities daily. Some companies have their own CRM system that may or may not be integrated with the ERP. Others use a digital marketing automation tool to generate and develop leads, improve customer interaction, and increase brand recognition and reputation.

These structures have their own set of reporting features. Unfortunately, such methods are frequently intended to be effective. They meet the basic reporting criteria, but they are limited in terms of versatility and complexity. Those tools, in many cases, lack the ability to generate custom reports. Frequently, current reports cannot be modified to benefit the organization’s strategic, complex business processes.

ERP software, in general, is infamous for requiring specialized IT skills for report creation and customization. This entails allocating limited IT resources to the task or hiring costly outside contractors to complete the task. Accounting, inventory, sales, and buying are the only areas where ERP reports can provide details. There are some consumer data there, but it is likely to be minimal.

To some degree, integration can help with the issue of information silos, but it can only go so far. However, some companies have begun to realize that time-consuming workarounds are inevitable disadvantages. The process of running reports through two to three different systems, then exporting the information to Excel, and forming a report takes time and manual errors.

BI systems must address the differences between all of the software systems that business leaders rely on to control their businesses to deliver genuinely accurate reporting that offers a unified view of the business. A successful BI platform should deliver data in real-time and be simple enough to use that everyone in the company can create and change reports without needing specialized skills.

Cloud ERP

As companies move toward Cloud ERP, they must think about the consequences of reporting and analytics. Most tech providers have taken the requisite measures to change the way you access data as they have moved to a cloud-first approach. Businesses that used a cloud ERP framework will no longer render direct database queries using structured query language due to security concerns. This is a technological transition, but it has far-reaching consequences for business intelligence.

As companies move to Microsoft Dynamics 365 Finance & Supply Chain Management from Microsoft Dynamics AX, for example, they will have a variety of options for accessing data and running reports. A better solution for businesses looking for a dependable BI platform with a low total cost of ownership is to look for a robust, validated reporting and analytics product that is optimized for high performance and ease of use.

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Building Powerful BI Strategy

In any company, BI can be used to effectively improve operations.  Everyone will concentrate on the same goals, collaborating with the same KPIs to push action and develop procedures, when the whole team is working from the same strategy and has access to a common source of reality. Although technology is a part of every discussion about business intelligence, it should not be the baseline. Building an effective BI strategy must address the requirements of the organization’s financial and operational decision-makers. It should meet financial and operational reporting needs with powerful and adaptable tools that enable everyone in the company to create and adjust ad hoc reports without requiring advanced training or IT skills.

At Global Data 365, we provide effective business intelligence solutions to meet your company’s needs. Some major questions that make their BI strategy effective are:

What are the record systems of your business data?
These are typically the starting point for creating a cohesive approach to reporting, putting together data that provides business leaders with a comprehensive picture, a unified understanding of what’s going on in the company.

In the company, how does your team use reporting?
Which reports do decision-makers consult on a regular, weekly, or monthly basis? What happens if you need an urgent report?

Are the financial reporting systems capable of completing period-end closing quickly and efficiently?
Is there a way to make the period-end process more efficient and automated? Do the numbers in the general ledger and sub-ledgers of the ERP method immediately connect to the reconciliations and supporting worksheets?

When do the stakeholders receive the information?
Have you ever had a situation where you wanted details right away but couldn’t get it? What were the consequences of the delay?

Is your company thinking of shifting to cloud ERP or cloud CRM system?
If it is so, you must link with a provider who can meet your needs both now and in the future when you migrate to the cloud.

When you answer these questions, it can help you figure out what you want to do with BI in the coming years, as well as the kinds of benefits your company will reap in the short and long run.

Usually, when companies are implementing a BI plan, the finance department’s specific reporting requirements are ignored, but with Global Data 365 onboard that won’t happen, as we prioritize customer satisfaction.

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Where BI fits into your Data Strategy

Home > Blogs > Where BI fits into your data strategy

Where BI fits into your Data Strategy?

July 26, 2021

Global Data 365 is composed of highly skilled professionals who specialize in streamlining the data and automate the reporting process through the utilization of various business intelligence tools.

Where BI fits into your Data Strategy

Traditional data techniques have been based on business intelligence (BI), but the advent of predictive and prescriptive analytics platforms, due in part to machine learning and artificial intelligence, is shaking things up. Also, business intelligence is changing, with features that were traditionally only available on business analytics platforms. Analysts and consultants believe that knowing the differences between business intelligence and other analytics tools. The value each brings to the organization is critical to developing an effective data strategy. 

Here, we will look at where business intelligence fits into the current analytics landscape and how business analytics is changing as tools, strategies, and staff requirements change. 

Business Intelligence vs. Business Analytics: What’s the difference?

In the widest sense, analytics refers to any technology-enabled problem-solving activity. Experts classify analytics into four groups on a scale of one to four, with descriptive and diagnostic analytics on the lower end of the scale and predictive and prescriptive analytics on the higher end. When starting an analytics system, most companies start with BI, which is part of the descriptive process. Business intelligence is the method of transforming data into actionable intelligence that helps an organization make strategic and tactical decisions. A good BI strategy, It’s what makes it possible for a company to collect, analyse, and present data. 

It’s all about the data, according to Beverly Wright, executive director of Georgia Tech’s Scheller College of Business’s Business Analytics Centre. It isn’t attempting to do something other than telling a story about what the data is showing us. While some business people can associate BI with analytics, Wright says data professionals differentiate between the two. Some define BI as providing insight into what has occurred, while others describe analytics, especially advanced analytics, as predicting what will occur in various future scenarios. 

Business Intelligence for Business Use

BI uses more organized data from conventional business platforms, such as enterprise resource planning (ERP) or financial software systems, to provide views into previous financial transactions or other past activities in areas like operations and supply chain management. According to analysts, BI’s importance to companies today stems from its ability to provide insight into such areas and business tasks as legal reconciliation. 

According to Wright, BI tools, like many other parts of the business technology stack have developed to become much more intuitive and user-friendly. She describes that in the past, companies used data scientists to use these systems to create dashboards. They’re now completely automated. As a result, companies can more effectively implement data systems that enable non-technical business owners to use BI tools to generate reports. Obtain much of the information they need without involving data professionals in day-to-day operations. Analysts believe that this alone qualifies BI technologies as critical business tools. 

BI as a Gateway to Business Analytics

While reporting solutions and other BI tools have a position in the enterprise, analysts claim they have limited capabilities. Bain & Co., a multinational management consulting company, estimates that more than half of companies use at least three separate analytics providers to produce performance reports in its 2017 study Six IT Design Rules for Digital Transformation. 

BI tools don’t offer the kind of in-depth data analysis that can lead to new market opportunities and development. According to John Myers, a senior analyst in business intelligence, “BI is not driving sales and innovation.” Enterprise Management Associates employs intelligence. Even though Myers reports that 20% of US businesses are already at the BI level, he believes that most companies do not want to stop using analytics, and attempts are being made there. Users can begin by looking at sales data and then want that data is calculated by state or product, according to Myers. Then they’ll like to see their top 10 customers from the previous year, as well as their common characteristics. Forecast which customers will be in the top 10 in the coming year based on that detail. 

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BI as the Future

While data professionals continue to play important roles in advanced analytics, such as modeling, Myers says their participation varies depending on the business case. To detect possible credit card fraud, for instance, advanced analytics systems rely on unmonitored models rather than data scientists querying the systems. Organizations generally buy off-the-shelf BI products as well as commercial advanced analytics products, Myers adds, but they tend to have their own data professionals build the machine learning and AI capabilities they need because there’s not a set of packages on the market; the products just aren’t there. 

Many BI tools, according to Brahm, are bringing in more and better data signals to generate more reliable, informative reports that blur the boundaries between BI and more advanced analytics. He believes that these new technologies are assisting users in making better decisions by answering questions about how to maximize and optimize the business, such as who the company can target, what promotions are available, and which ones are available to whom. 

Technology organizations are more advanced in their implementation of advanced analytics capabilities, such as machine learning and AI, and are more likely to have done so already. If you find more about how BI is helping to transform businesses, and where BI fits into your data strategy? Contact us. 

How Global Data 365 can help you?

As a leading provider of Power BI services for effective business intelligence in the Middle East and AfricaOur team of experts help organizations streamline their data management, gain valuable insights and drive better business decisions. With a focus on delivering customized solutions, our services are designed to meet the unique needs of each client and maximize the impact of Power BI on their overall success. Trust Global Data 365  to elevate your business intelligence and drive results in the Middle East and Africa. 

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Overcome Your Fear of Advanced Analytics

Home > Blogs > Overcome Your Fear of Advanced Analytics

Overcome Your Fear of Advanced Analytics

March 26, 2021

Global Data 365 is composed of highly skilled professionals who specialize in streamlining the data and automate the reporting process through the utilization of various business intelligence tools.

Overcome Your Fear of Advanced Analytics

We have all read that information is nothing unless it can be turned into meaningful data. It can be daunting in business to have access to so much data. How do you know where to begin when you’re bombarded with information It’s possible to get lost in the midst of it all, overwhelmed by the flood of data and uncertain where to start looking for ways to improve business processes. That is where you can utilize advanced analytics.

Advanced analytics is the automated or semi-autonomous analysis of data using materials and tools that go beyond traditional business intelligence (BI). It’s a catch-all word for a number of analytics sub-fields that collaborate using predictive capabilities. High-level approaches and software forecast future patterns, activities, and events, allowing businesses to create “what-if” models and estimates to future-proof their operations.

Advanced analytics involves data mining, big data, and predictive data analytics, which allows you to mine your data for deeper, more analytical, and eventually actionable insights. Whereas traditional analytical methods show you where you’ve been, advanced analytics focuses on where you’re going next, providing insight into what could happen based on a variety of potential opportunity scenarios.

Advanced analytics includes newer technology such as machine learning and artificial intelligence, as well as visualizations. In reality, advanced analytics encompasses so many areas and has such a wide range of applications that it has a variety of applications, including marketing, inventory and warehousing, and manufacturing. Keeping this in mind, it appears that any company should be interested in using advanced analytics to solve critical business problems.

Assumptions Regarding Advanced Analytics

Many CFOs still have assumptions about advanced analytics:

– They cost money.
– They take time to deploy.
– They are complex to understand.

Advanced Analytics is Costly

You might be wasting money if you’re sitting on a heap of useful data and aren’t analysing it because you’re afraid of investing in advanced analytic tools. Your data is your most valuable resource for uncovering answers to your potential questions by properly processing your history.

Many enterprise resource planning (ERP) systems quickly integrate with external services that are both dependable and cost-effective. When you are likely to afford less time doing the hard work and more time understanding the report findings, the rewards can quickly outweigh the costs.

Deployment takes Time

Yes, some technology takes a long time to get up and running. Running out the first ERP or switching to a new one is a lengthy process that can take months to complete, and that’s assuming everything goes smoothly.

This is not the case for advanced analytics. Many of these systems can be set up in a matter of hours, if not minutes, and begin crunching the data right away.

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Complex to Understand

Although advanced analytics was developed to use complex formulas and equations, they are used to provide the end-user with data that is simple to understand. In reality, several advanced analytics user interfaces are built to help people from all walks of life use data to search for information.

Enterprise solutions can also assist users in learning techniques by assisting them in selecting and processing appropriate data from a variety of sources. The end-user’s experience will be simple to navigate, regardless of the technicality of what advanced analytics might be doing in the context.

Still Having Doubts?

If you’re still having doubts about using advanced analytics even after clearing out the assumptions, we are here to clear them out.

Begin by gathering the information you’ll need to examine. For your business, this may have been a time-consuming process in the past. Data is stored in an ERP (or two) as well as other diverse relational databases that don’t always get along. As a result, putting together the data could have required many data backups and several hours of manipulation to get it into the format you need. If the data changes during this phase, for example, if you receive a late invoice payment that still counts against the month you’re working on, you’ll have to restart the whole process.

Using Global Data 365’s finest reporting systems, you can connect data from more than 140 ERPs and EPMs, as well as other relational databases, into one automatic report that lives inside the framework of Excel or displays in a readily available web-based dashboard. Dynamic links are used in our solutions to extract real-time data from your ERP, connect it to other sets of data, and deliver the accurate reports you require based on safe and simple-to-assemble parameters.

With one click, you can check your reports. Return information for a single account, a collection, or a wildcard quest. It’s all designed to offer users quick and easy access to their data so they can spend less time figuring out what is going on and more time predicting the future.

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Optimize Processes with Data Visualization

Home > Blogs > Optimize Processes with Data Visualization

Optimize Processes with Data Visualization

May 21, 2021

Global Data 365 is composed of highly skilled professionals who specialize in streamlining the data and automate the reporting process through the utilization of various business intelligence tools.

Optimize Processes with Data Visualization

Every aspect of a company relies on making prompt, well-informed decisions. Data is at the center of the financial services sector. Traditional business intelligence (BI) methods aren’t up to the task with so much data to rummage through. These techniques were designed for tabular reporting and can only handle small volumes of homogeneous data; they also require advanced technical expertise. Today’s software can process and interpret massive amounts of data in real-time, with a level of elegance previously unseen. According to a report conducted by Gartner on the top priorities of CFOs, here’s what they looked at:

– Enhancing Financial Analytics:
Even after a 50% rise in financial analytics expenditure in the last three years, only a few businesses have advanced analytics capabilities. As analytics becomes a central responsibility of the finance department, this must change.

– Reorganizing Finance Teams:
Traditional approaches for coordinating and using finance teams are becoming less effective as the popularity of finance teams grows. To stay relevant, the department needs a shakeup from the top down.

– Finance Technology Optimization:
Finance teams must maximize the value of their ERP systems while also adopting newer innovations and planning to become more tech-savvy. If this isn’t done, the finance department will become less intelligent and agile.

Any of those projects could keep a CFO busy for a year without yielding much progress. However, if such executives consider these problems analytically, realizing how the challenges and goals intersect, a surprising approach emerges, data visualization.

Data Visualizations

There has almost certainly been some kind of data visualization for as long as there has been data. Charts and graphs have recently become commonplace in business due to Excel spreadsheets. Users soon realized that visual interfaces help them understand complex information. Instead of manually examining a spreadsheet, they could quickly recognize the key takeaways by looking at a pie chart. Digital visualizations provided the finance team with a completely unique outlook on data and a game-changing method for decision-making, compared to what had previously been available.

Today, visualizations have taken yet another step forward, possibly the most important yet. Advanced visualization features are included in today’s top financial reporting tools, which run on top of ERP and beyond the constraints of Excel. Such visualization tools do more than improve on what has come before; they turn the relationship between the finance team and the data on which it relies more highly than it has ever been.

Advances in Data Visualizations

So, what’s the difference? To begin with, visualizations have progressed well beyond basic graphs and maps. They can now visualize data in new systems that provide more context and information. Users can view the optimal visualization to encompass the data rather than trying to settle for a sufficient option with this enlarged toolkit at their disposal.

After you have made that decision, creating the visualization is nearly seamless. It only takes some clicks to move data from one area to another in several cases, rather than a lengthy manual process. This not only saves time and eliminates mistakes, but it also helps everyone inside or outside the finance department to create their own visualization without any need for advanced training. Lastly, and perhaps most critically, visualizations have moved to the foreground of decision-making. The finance members can quickly integrate them into financial reports and structure them to optimize the insights they contain as well as the ease with which they can be extracted. The design features within such reports are also not static. They update themselves as new information becomes available, making them more like interactive indicators that monitor key metrics in real-time than visualizations.

Everything in today’s visualizations is vastly superior to previous versions. Despite this, it’s always easy to underestimate their effect on the economy. The CFO, the finance team, and the company as a whole are all involved.

Using Data Visualizations to Optimize Processes

Data visualizations not only help people view data in new ways, but they also help them see it more clearly, presenting insights, opportunities, and challenges that would otherwise go unnoticed.

One form of data visualizations does this is by compressing large volumes of data into some kind of layout that is readily available. Financial reports influence decision-making, but in the past, they were either too simple to show anything of value or too difficult to stir up an action. Today’s visualizations bridge the gap, allowing reports to include what decision-makers need to know while still revealing those insights in real-time.

Advanced data visualizations also allow F&a to investigate financial data on their own terms. Decision-makers know what knowledge they want better than everyone else, and once it’s simple to find it and visualize it as needed, understanding differences disappear. To look at it another way, visualizations open up a vast array of nuanced financial data to the point that it can be explored. Anyone interested in delving deeper into the data now has a great starting point.

Visualizations help practitioners outside finance grasp a topic that can be perplexing to the general reader, in addition to CFOs. Executives and heads of departments need to consider how their decisions impact the company’s finances on a micro and macro level, but many lack the knowledge to do so of a dense spreadsheet presenting a financial report. However, when presented with visualizations, the material emerges in a manner that everyone can comprehend. As a result, financial knowledge grows around the board.

Why Power BI is a better choice than Excel
Why is Good Data Management Essential for Data Analytics

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Data Visualizations: a Modern Solution

Finance teams will use innovative data visualizations to make significant progress on every one of 2021’s top priorities. Once implemented, analytics improve dramatically, accountants spend less time manually processing data, and the ERP ceases to be a barrier to understanding.

Global Data 365 offers visualization tools to optimize finance processes. In terms of usability, precision, and variety, these resources far exceed what you’ve come to expect from Excel. Even better, they’re just one of many features available in purpose-built financial reporting tools that are designed to work with today’s most common ERPs.

If you’re searching for a new perspective on data, we offer a comprehensive upgrade. To see how this all operates, request a free demo today.

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How Does Business Intelligence Help in Demand Forecasting

Home > Blogs > How Does Business Intelligence Help in Demand Forecasting?

Business Intelligence Help in Demand Forecasting

May 21, 2021

Global Data 365 is composed of highly skilled professionals who specialize in streamlining the data and automate the reporting process through the utilization of various business intelligence tools.

How Does Business Intelligence Help in Demand Forecasting

Businesses are investing significantly in advanced analytics to maintain a competitive advantage and improve their result due to big developments in artificial intelligence and machine learning. Predictive analytics is one of these fields in which businesses extract information from existing data to assess purchasing patterns and predict future trends.

Predictive analytics makes use of a combination of data, statistical algorithms, and machine learning approaches to predict the likelihood of future outcomes based on the past. Every sector, from banking to retail, uses this technology to assess consumer responses or orders, forecast inventory, manage capital, and even detect fraud. Predictive analytics is becoming more popular, even though it has been around for decades, thanks to increasing quantities of data and readily available tools ready for a transformation.

Below we will look at how market intelligence can help with demand forecasting, a type of predictive analytics that focuses on consumer demand. We’ll go into what demand forecasting is, how it operates, and how to get started with it using business intelligence tools.

What is Demand Forecasting?

Demand forecasting is a type of predictive analytics that focuses on predicting customer demand for products and services. It estimates potential demand based on historical data and current market conditions and sets the level of supply-side preparedness needed to match demand.

Demand forecasting is important in production planning and supply chain management, even if it isn’t an acquired skill. Demand forecasting impacts everything from budgeting and financial planning to capacity planning, sales and marketing planning, and capital investment.

Why Should You Use Demand Forecasting?

Manufacturers, distributors, and retailers use demand forecasting as an important part of supply chain planning to gain insight into their activities and make educated, efficient decisions about pricing, inventory stock, resource optimization, and more.

Listed below are some major reasons why demand forecasting is so important in today’s supply chain:

  • Increased customer loyalty (providing customers with the items they want, whenever they want it).
  •  Inventory management to minimize stock-outs and overstocking.
  • Effective raw material and labor scheduling.
  • Improved capacity planning and resource allocation.
  • Better distribution planning and logistics.
  • Affordable pricing and promotion.

Use of Business Intelligence in Demand Forecasting

Data is used in demand forecasting. If the data you use is incorrect, the math and how you apply it will result in under or overestimated demand, leaving you with a slew of disgruntled customers or an overabundance of goods. Most businesses use a business intelligence solution to help with data planning, data co-ordination, and forecasting to better understand demand and supply.

Business intelligence software is designed to capture, unify, sort, tag, analyze, and report on large volumes of data. Here are four main areas where market intelligence can help you get started with reliable demand forecasting:

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Data Preparation

Most businesses fail to cleanse, verify, and audit their data regularly. As a result, 40% of company data is either incorrect, incomplete, or inaccessible (Gartner). BI software allows you to organize and monitor your data in one place, ensuring that your analytics are based on reliable data.

Data Collection

data warehouse can assist you in gathering business data from a variety of sources and using it for accurate reporting and analytics. Data warehouse-powered BI will help correlate data from different systems to provide further visibility into the supply chain, revenues, and financials, among other items.

Data Analysis

BI software is built for processing and measuring large quantities of data. Maintaining a system of records, which includes historical records and various data sources, ensures that all findings are based on the same version of the facts.

Reporting and Analytics

With pre-built dashboards, BI software will give you a single view of results and reports for the rapid dissemination and exchange of real-time information on demand. This encourages better preparation and coordination between the teams.

Improve your data quality and plan your data for reliable demand forecasting by learning more about what you need to do. At Global Data 365, we will analyze your current systems and show you how business intelligence will help you build the technology base for your company.

Contact our team for more information!

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ways to optimize your ERP reporting

Home > Blogs > How to Optimize Your ERP Reporting?

How to Optimize Your ERP Reporting?

March 26, 2021

Global Data 365 is composed of highly skilled professionals who specialize in streamlining the data and automate the reporting process through the utilization of various business intelligence tools.

ways to optimize your ERP reporting

According to a recent study, nearly 81% of the company survey reported that they had either introduced the use of ERP software or were in the process of implementing it. So what makes ERP reporting important? ERP data analysis empowers businesses to produce strategic plans, future predictions, and advanced strategies.

A depth of data indicates that financial reporting generates as much clarification as it creates confusion:

• 97% of CFO’s have uncertainty regarding the quality of reporting.

• 40% of CFO’s are concerned that information is reliable and precise.

• 87% of accountants function overtime to complete the financial closing.

• 86% of finance teams say that their analytics are not informative.

The only downside is that companies cannot be successful if they don’t have reliable, accurate, and detailed ERP reporting, which can lead to them making risky choices without even acknowledging it. The plus side is that optimising ERP reporting is not a difficult task in comparison to the usual reporting process.

Listed below are the 5 ways businesses can optimise their ERP Reporting to make it quick and easy:

Self-Service Reporting

Users often need to submit a request to IT before getting access to a report and wait in a queue until they can access it. Users have to depend on technical experts because working with the underlying data is difficult. For users who are not IT experts, self-service ERP reporting is intended to be user-friendly. This kind of reporting is less about the careful organization of data and more about being cost-effective and a time saver.

For instance, IKEA, one of the biggest retail company has enabled self-service ERP reporting after the implementation of Jet Reports and witnessed instant results. A report that may have taken hours for a warehouse manager can now be done within seconds. Time is saved by enabling self-sufficient ERP reporting.

Automated Processes

A large-scale data organization effort is required to report on finance and operations throughout different departments. The workload includes tracking information from different sources, transferring it from one document to another, and putting time and effort to arrange it all in one clear performance portrait. Advanced automated processes speed up this effort by automatically placing data from ERP systems and other networks, then placing it for immediate analysis into pre-built ERP report templates.

Amref Health Africa, a major NGO in Africa, was having difficulty handling data manually before adding Jet Reports to its reporting toolbox. Now the organization spends less time on handling information and reporting.

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Flexibility

Reporting is a regular duty that changes with time. Depending on the same reports adds up to poor performance management, but it takes extra time and feedback from IT experts to produce customized reports. ERP reporting stops being a hassle when it is simple to track various metrics, rewrite reporting data, receive deep insight from reports into transferable data, and access real-time updates on request.

Using an ERP reporting tool, companies can keep track of their data in real-time. Fawaz Holding seized the benefit of customized reports when it introduced Jet Reports to operate side by side with its Microsoft Dynamics 365 Business Central ERP. By building flexibility into the processes, ERP reporting becomes easier.

Business Continuation

Accurate ERP reporting is vital after the global pandemic. Decision-makers instantly require quality, updated data, but it can also be made inaccessible by the same situation that makes it essential. ERP reporting should function at any time, providing the same robust functionality even though users are operating from elsewhere.

Similarly, Enova Facilities Management started to save time on ERP reporting using Jet Reports. When COVID-19 struck, the business utilized those time saved. The challenge didn’t sway the method of reporting, instead, it provided leaders greater insight into the situation.

Higher Standards

ERP reporting can be difficult when the processes are not automated. It leads to a lot of time and effort spent on manually documenting reports and generating analysis. Many ERP reporting systems allow the users data security. It is important to set high standards for data reporting, so businesses need to implement robust ERP systems to automate processes and receive greater insight into the workings of all departments.

At Trade Centre, a Turkish electronics firm felt it needed quicker ERP reporting and relied on Jet Analytics as the solution. After that, reporting then demanded 60% less feedback overall, which reduced the time it took IT on reporting.

Conclusion

Learn How to Optimize Your ERP Reporting as accurate reporting is a result of quality data, which is precisely the reason the process takes time. Data is an unruly commodity that takes an extra effort to control, protect, and manipulate. As the data volume grows, ERP reporting will fall behind and cause companies to delay taking action. That is why it is important to search for strategies that make data as quickly available as possible by automation.

So, if you face any challenges in reporting, our experienced consultants can provide you solutions to help make your business grow. Schedule a call to discuss your requirements. Contact us now.

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Why Is Good Data Management Essential For Data Analytics

Home > BlogsWhy Is Good Data Management Essential For Data Analytics?

Why Is Good Data Management Essential For Data Analytics?

May 21, 2021

Global Data 365 is composed of highly skilled professionals who specialize in streamlining the data and automate the reporting process through the utilization of various business intelligence tools.

Why Is Good Data Management Essential For Data Analytics

Today, Businesses have more data at their disposal than ever before. Over time, businesses that can efficiently use data as a strategic advantage can eventually achieve a competitive edge and outperform their rivals. Business administrators, on the other hand, must add order to the chaotic world of various data sources and data models to do this. Data management is the general term for this method. Data management is becoming an essential component in successful business management as the amount of available data grows.

On the other hand, a lack of effective data protection can lead to incompatible or unreliable data sources, as well as data quality issues. These challenges can hinder an organization’s ability to derive value from data-driven insights, recognize patterns, and spot problems before they become major issues. Worse, bad data management can lead to managers making decisions based on incorrect assumptions.

Availability of Data

The emergence of systems, such as ERP, CRM, e-commerce, or specialized industry-specific applications, is causing such problems. When you add web analytics, digital marketing automation, and social media to the mix, the data volume skyrockets. When you add in external data from vendors and service providers, it becomes unmanageable.

Many businesses understand the importance of using externally sourced third-party data to supplement and extend the context of knowledge they already have. However, it’s difficult to imagine taking that step without first having a grasp on the organization’s current data. Bringing all of this uncertainty under control is a key first step in implementing a strategic data analytics program. That is a two-step method from a high-level perspective. To begin, you must collect all of the data and store it in a centralized location. This includes filtering, transforming, and harmonizing data so that it blends to form a coherent whole.

Secondly, the data must be available to users around the enterprise so that you can put it to good use and add value to the company. In other words, you must implement processes that allow users within the organization to access the information easily, efficiently, and with enough versatility that they can evaluate and innovate without extensive IT training. To ensure efficiency, you must identify and implement these two aspects of data management individually. Flexibility and usability result from a pre-built data management process and interface; the quicker you assemble and clean up the data, the easier the data will start producing value for the business.

Multiple Systems

When a company runs several processes, data processing becomes a problem. As previously stated, this may include ERP, CRM, e-commerce, or any other software framework. It’s also usual for many companies to use several systems to accomplish the same job. Different ERPs may be used by different divisions or corporate agencies operating under the same corporate name. This is especially true when it comes to mergers and acquisitions.

Many businesses would like to perform reports against historical data stored in a defunct database. Since migrating accurate transactional data to a new ERP system is not always feasible, many companies use a workaround or simply go without, leaving important legacy data out of their existing reporting systems. Multiple data models are invariably present when multiple software systems are involved. A clear report detailing all of the company’s customers becomes a little more complex. If one ERP system has different tables for clients and vendors, while the other merges them into a single table (using a single field to classify them as customers, vendors, or both). Before loading data into a centralized repository with a uniform approach of the customer, you’ll need to extract and transform data from those two ERP systems. The process must include a type of translation in which data structures and semantic models are aligned.

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Extracting, Transforming, and Loading Data

The term “ETL” refers to the method of processing, converting, and loading data into a central repository. ETL is one of the most important aspects of a data warehouse, and it’s necessary for businesses who want to provide dependable, scalable, and reliable reporting. A data warehouse that embraces a complete view of data from across the enterprise, irrespective of which system it came from, is the end product of a very well ETL process.

This procedure often connects records that are spread through different systems. It is normal, for example, to designate master records with unique identifiers that aren’t always consistent across two or more systems. The central repository must link those two documents and classify them as the same individual to create reports that provide a full image of that customer.

Diverse Options

You’ll be confused if you search “BI solutions”, attend a related tradeshow, or read quite a lot of BI reports. There are several options available. But how do you know which approach to business intelligence is right for you?

The solution is to avoid putting the cart before the horse. First, assess the requirements. Evaluate them from a market and a technological standpoint, and then use the results of that exercise to guide the quest for approaches and solution providers.

Self-Service Reporting and Data Visualization

The second important aspect of good data management is to make information readily available to users across the enterprise. Provide them with resources that allow them to innovate and add value to the company. In fact, data visualization tools are becoming a strong tool for informing, aligning, and encouraging leaders across entire organizations. Data visualization tools are now simpler to deploy, maintain, and use than ever before.

Until recently, installing and maintaining a data warehouse facilitated a significant investment in highly specialized technical services. A reliable computing infrastructure capable of handling the necessary workloads. Legacy tools necessitated a thorough understanding of the source data as well as meticulous preparation ahead of time to decide how to use the resulting data. Modern data visualization tools are extremely efficient and adaptable, requiring far less advanced IT knowledge. Many of the tasks associated with designing dashboards, graphs, and other visualizations can now be performed by frontline users who communicate with the data daily.

Data Management with Jet Analytics

Both aspects of the data management process as described here, are provided by Jet Analytics from Global Data 365. For starters, it offers a robust framework for constructing a data warehouse. With developing and managing the ETL method, bringing data from various fragmented systems under one roof for simple, relevant reporting and analysis. Along with that, Jet Analytics provides a robust reporting package that allows practically everyone in the company to create powerful visual dashboards, analyses, and ad hoc analysis.

To find out more about how Jet Analytics can help your company manage the complexity of multiple data sources, contact us.

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How to Increase Transparency in your Finance Processes

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How to Increase Transparency in your Finance Processes

April 10, 2021

Global Data 365 is composed of highly skilled professionals who specialize in streamlining the data and automate the reporting process through the utilization of various business intelligence tools.

How to Increase Transparency in your Finance Processes

When upper management has complete insight into the operations of the company, it runs more smoothly. Gartner’s market oracles recently published a list of nine characteristics that CFOs must possess to maintain success during times of crisis and uncertainty. Based on 20 years of research and strongly influenced by lessons learned from the financial crisis of 2008, the list needs a review.  Placing more money on the line.

– Defending against scope creep.
– Critical Initiative Funding.
– Making it easier to take risks.
– Getting to know your customers.
– Cutting your losses.
– Careful cost-cutting.
– Identifying cost-cutting opportunities around the organization.
– Integrating Budget Models.

Even though each entry is based on a different goal, they all have one thing in common: the need for financial transparency. CFOs must provide the most up-to-date details on all facets of financial results. When making new acquisitions, searching for cost-cutting opportunities, or modifying the years’ plans.

Impact of COVID-19 on Businesses

Even before the pandemic, CFOs struggled to obtain refined, regularly updated information. Data accessibility has become a pressing problem as more teams work from home and struggle to access the same data, software, and teamwork that they depend on in the office. Financial invisibility occurs when businesses have the requisite data (often distributed across the ERP) but are unable to access it easily, comprehensively, or consistently.

CFOs require access to reports and metrics that represent the most recent data available as they try to control cash flow, perfect accounts receivable, or safe loans and stimulus funding. The volume of information and the speed at which it is processed is well beyond the standard. As a result, CFOs are much less informed about financial performance data. One of the major threats that businesses face today is financial invisibility. In this crucial time, a single bad decision based on incomplete or unreliable data may sink a corporation. That outcome can be avoided with a few tweaks.

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Finance Processes and Financial Visibility

Financial reporting is one way to convey visibility. Many business leaders are motivated by the need for a reliable, automated, and open reporting system. Provide them with the data they need, when they need it, for full transparency with finance processes.

Specialized tools, such as those created by Global Data 365, can help. Incorporating these strategies can significantly enhance transparency in your finance processes, ultimately leading to better decision-making and increased trust among stakeholders. Each of our solutions integrates with common ERP software and automates the most time-consuming aspects of reporting. The solutions then produce and distribute reports in the format that the CFO prefers. That may mean regular updates in the standard Excel format or CFOs can go a step further and get real-time updates through specialized dashboards. Our tools keep financial visibility crystal transparent by making financial reporting simpler than ever while also enhancing the pace, scope, and accuracy of the resulting insights.

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Business Intelligence with Power BI

Home > Blogs > Unleash the Power of Business Intelligence with Power BI

Power of Business Intelligence with Power BI

January 25, 2023

Global Data 365 is composed of highly skilled professionals who specialize in streamlining the data and automate the reporting process through the utilization of various business intelligence tools.

Business Intelligence with Power BI

Business Intelligence is a crucial aspect for companies to make informed decisions and stay ahead of the competition. Business Intelligence with Power BI offers a simple and fast solution for efficient data visualization, real-time reporting, and predictive analytics, Power BI can turn data into actionable insights.  

The platform is user-friendly interface and ability to integrate with a wide range of data sources make it easy for companies to get started. Adopting Power BI business intelligence can help organizations make data-driven decisions, improve operational efficiency, and drive growth. Start leveraging the power of Business Intelligence with Power BI today. 

Maximize the potential of your data and gain valuable business insights with Power BI services. As a powerful data visualization and reporting tool, Power BI can help you turn raw data into actionable insights, empowering you to make data-driven decisions with confidence. With its interactive dashboards and insightful reports, you can uncover patterns, trends, and opportunities in your data, and transform your business for growth.  

Why Power BI - Advantages of Power BI for Business Intelligence

There are many options available for organizations for business intelligence then Why Power BI? Power BI have edge over other tools when it comes to effective business intelligence. Microsoft Power BI takes lead over other tools because advantages of Power BI are immense that it offers to organizations. Below are the five advantages of Power BI that results in effective business intelligence which will ultimately bring effective results.

Data Integration with Power BI

Data integration in Power BI is more advanced compared to other tools due to its seamless integration with other Microsoft products and its ability to handle large amounts of data. Power BI allows for easy import of data from various sources such as Excel, SQL Server, and cloud-based platforms.  

Additionally, Power BI’s Direct Query technology allows for real-time data analysis and visualization, providing users with up-to-date insights. Power BI’s powerful data integration capabilities make it an ideal choice for organizations looking to centralize and make sense of their data. 

Drag and Drop Interface

The drag and drop interface of Power BI allows users to effortlessly manipulate data to create customized visualizations and reports. Unlike other BI tools that require coding or complex data structures, Power BI’s intuitive interface makes it easy for users of all skill levels to explore and analyze data.  

The ability to drag and drop data sources and instantly see visual representations differentiates Power BI from other BI tools, enabling users to quickly gain insights and make data-driven decisions without having to rely on IT support. 

Power BI Data Modeling

Data Modeling in Power BI allows users to create relationships between different data sets and create a unified view of the data. This helps in easy data analysis and decision making. So, the next time you consider adding a new facility, Power BI will assist you in analyzing the impact it will have on its suppliers. It allows a person to observe the current world while still planning for the future. 

It also integrates with other Microsoft tools, making it a part of a larger data ecosystem, which can be useful for organizations that use multiple Microsoft products. Additionally, Power BI provides a wide range of data visualization options and interactive dashboards, which can help make data insights more accessible to stakeholders. 

Ease of Use

Power BI is known for its ease of use, as it offers a simple, intuitive interface for data visualization and business intelligence. This makes it accessible to users with a variety of technical backgrounds, allowing them to easily create and share interactive dashboards and reports. 

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Real-Time Collaboration

Power BI offers real-time collaboration features that allow teams to work together and make data-driven decisions in real-time. With Power BI, users can access and share real-time data dashboards, reports, and visualizations from anywhere, on any device. Power BI also provides robust collaboration tools, including comments, annotations, and co-authoring, which enable teams to discuss and make decisions based on the latest data insights.  

Additionally, Power BI’s cloud-based architecture ensures that all team members have access to the most up-to-date data and insights. With its real-time collaboration capabilities, Power BI empowers organizations to make data-driven decisions faster and more effectively. 

Data Visualization with Power BI

Data Visualization with Power BI allows businesses to turn data into interactive and shareable insights. Power BI stands out from other tools by offering a comprehensive suite of data visualization, reporting, and business intelligence capabilities in one package. With Power BI, users can easily connect to a variety of data sources, perform data transformations, and create interactive dashboards and reports with a simple drag and drop interface. 

The tool also provides collaboration features such as shared dashboards and data stories, enabling teams to work together and make data-driven decisions. Power BI’s advanced data visualization options, such as its 3D map and custom visualizations, set it apart from other data visualization tools, providing a more immersive and engaging way to explore data. 

How Global Data 365 can help you?

Global Data 365 is a leading provider of Power BI services for effective business intelligence in the Middle East and Africa. Our team of experts help organizations streamline their data management, gain valuable insights and drive better business decisions. With a focus on delivering customized solutions or required trainings, our services are designed to meet the unique needs of each client and maximize the impact of Power BI on their overall success. 

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