How BI (Business Intelligence) is reshaping supply chains

Business Intelligence (BI) is said to make quicker and easier decisions with better data reporting. 

Over 50% of the organizations today are already convinced that BI is essential to survive in today’s technical environment. As per Market Watch’s latest report, the BI market will register a magnificent spike in CAGR in terms of revenue. 

Another study states that various factors such as rising investments in analytics, increased demand for dashboards, growing focus on digital transformation, and increase in cloud adoption has driven the growth of Business Intelligence. It is expected to reach 33.3 billion USD by 2025, offering new opportunities to every sector. 

Consider the adoption of Business Intelligence in a specific industry. The supply chain and logistics industry has played a significant role in the adoption of BI solutions. To remain competitive in the supply chain management sector, according to industry experts, you must identify your organization’s possible weaknesses and devise strategies to overcome them, according to the experts. That is when Business Intelligence enters the picture and changes everything. It assists you in identifying potential risks associated with your company and taking timely action to mitigate them.

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Oil Refinery, Chemical & Petrochemical plant abstract at night.

In layman’s terms, you can acquire insights based on real-time actionable data, receive automatic recommendations, and evaluate the production process by analyzing the transactions themselves. In other words, whether you are transferring inventory, scheduling shipments, or issuing orders, Business Intelligence will keep every piece of information within reach.

Now, to go back to our topic of discussion, why is it that supply chain and operations departments are embracing Business Intelligence solutions in such large numbers?

The rising popularity is most likely related to the digital transformation of the supply chain, in which business intelligence (BI) plays a significant role across a wide range of industries. Visit supply chain solutions malaysia to know more. 

Impact of BI on Supply Chain Process 

The amount of data that flows through the supply chain sector is virtually limitless in scope. BI is, at its core, the process of transforming a sea of data into information that can be applied to real-world business problems. If you were to ask what kind of data is driven by Business Intelligence in the supply chain, the answer would be:

Business Intelligence plays a significant role in the management of data such as repair costs, transportation costs, KPIs (key performance indicators) on carriers and suppliers, strategic planning, and trend analysis, among other things.

In addition, this data must be dug down into the necessary information in order to conduct research and analytics on it. Lastly, the final data inform you of how the organization should operate in order to achieve its performance and business objectives.

Dashboards and scoreboards, as well as other business intelligence supply chain tools, offer you a complete overview of a company’s performance (daily, weekly, and monthly) to assist you in keeping the progress under control. This illustrates just how important Business Intelligence is in the supply chain cycle process.