Why Is BI (Business Intelligence) Critical for Your Food Industry Business?
We have started this blog with a question because we know you have questions about BI (Business Intelligence). And we’re going to continue with a few more questions that might help you understand the power of BI. Here goes…
Question #1: What is BI?
Answer: Business Intelligence (BI) refers to the procedural and technical infrastructure that collects, stores, and analyzes the data produced by a company’s activities.
Question #2: Why Is BI (Business Intelligence) Critical for Your Food Industry Business?
Answer: The simple answer is that BI takes your food industry business to the next level.
Question #3: How do modern BI tools, such as Microsoft Power BI take you to that next level?
Answer: BI will take your food industry business to the next level by parsing all the data generated by a business and presenting that data in easy-to-digest reports, performance measures, and trends that inform management decisions.
Question #4: What are the critical elements of a modern BI program?
Answer: Here’s the “short” list:
· Business planning
· Data mining
· Analysis
· Strategy
· Measurement
· Benchmarking
· Reporting
· Data management
· Data warehousing
· Process analysis
· Descriptive analytics
We could go on, but won’t because we have already given you a LOT to chew on, mull over, and formulate questions that we would be more than happy to answer. Contact us with your BI questions.
Questions are important because we live in the Information Age. But all of the information that bombards us through the IoT (Internet of Things), the IIoT (Industrial Internet of Things), sensors, and countless other sources, is only worthwhile if we can parse it and ultimately use it to our advantage in an organized way.
That’s what Microsoft Power BI does for us, along with the other tools that are incorporated in the Microsoft Dynamics 365 Power Platform and integrated into your Microsoft Dynamics 365 Business Central ERP.
Let’s Take a Look at the Microsoft Power Platform
The Microsoft Power Platform is a toolset designed for non-technical business people to:
- build stunning dashboards
- create low-code apps
- set up relevant workflows
- allow chatbots to handle routine inquiries
- gain insights
- close financials faster
Incorporating BI into your ERP does not necessarily change how your organization functions. Instead, it will adapt to your current system and exponentially increases its output. By integrating the Microsoft Power Platform into your ERP, you are moving up to the next level where you can create a competitive edge by simplifying the way you work, saving time, and saving money.
Read more about the components of the Microsoft Power Platform, which are:
There are countless scenarios for every type of business where BI tools can provide much-needed insight. Companies in the Food & Beverage Industry are perhaps top among them. With 25 years of expertise in the Food & Beverage Industry, Liberty Grove Software is ideally positioned to help your food or beverage company reap the benefits of BI.
To find out more…
Request an Executive Briefing or Request a Private Demo or just contact Liberty Grove Software by calling us at 630-858-7388 or emailing us at nav@libertygrove.com.
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