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One of the most critical uses of information for an enterprise is its capacity to provide in-depth knowledge or the insight necessary to make decisions.
From responding to changing market conditions, concerning matters of an operational nature, or just looking outward and to the future in order to plan the growth of a business.
The modern commercial environment is such that many critical business decisions today have to be taken in real time.cAnd it’s because of this that Enterprise Resource Planning (ERP) software has the power to facilitate the making and enforcement of data-driven decisions.
Historically, accumulating data and making it readily accessible has been a huge problem as many enterprises consign business-critical information to departmental data stocks with each division (Sales, Marketing, Finance, R & D, etc…) guarding the data needed to run its own operations, using its own software or methods to work with that data.
ERP software solutions have quite literally centralized the data at the heart of their operations. Systems are based on a central storage of information populated with data from all streams and branches of an enterprise. All database entries are in a basic format, so there’s no need for Accounting or Marketing teams to learn to decode the data in order to gain access to its full content.
Having access to a common pool of data covering all aspects of an enterprise empowers business users to gain many access points & angles of perspectives, from finely detailed views to overviewing the big picture on what’s actually going on in the business, having the potential to make logical connections that lead to really valuable insights.
