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Many companies hope to gain from the purchase or upgrade of an ERP system. Improving supply chain management is one of the most popular reasons for upgrading and unfortunately there is modest improvement even after the upgrade.  

Here is why; there are two distinct messages when it comes to supply chain: clarity now and agility to evolve when your business environment evolves. This means the best supply chain solutions should offer foresight and adaptability. ERP systems are mostly systems of record, they are historians designed to tell you what happened and not what is happening now or what is meant to happen.  

Although recent technological advancements have allowed development of predictive analytics, artificial intelligence, machine learning and automation to deliver the latest ERP systems, these are mostly a “one size fits all” collection of standardized features bundled into a single offering that works best with little or no customization. An ERP is essentially a rear-view mirror; it is necessary, but it does not provide the visibility you need in today’s fast-paced world. It only tells you when the order was placed or when the items were shipped, not what your customer needs next month or where supply gaps might exist.  

What can make this possible is Insights, real time insights leading to impactful actions that create value for the organization. Real-time insights are data collected as soon as they become available and with the help of AI, are translated into an understanding of specific causes and consequences within the context that help solve the problem. These insights are typically displayed in the selected dashboard using graphs, charts, and tables. 

Insights as a service is bridging the gap between data and value, focusing on actions that lead to business value which directly link to an increase in revenue and cost savings. It’s time for companies to adopt an insight-driven mentality opposed to getting stuck with the data-driven mentality and big data talk. If this is adapted soon enough, the goal is to make insight-driven action a part of everyday business for everyone.  

Bottom line is; data has little value without analysis. Analysis has little value if it does not provide meaningful insight. Insight has little value if it does not trigger action and action has little value unless it is tied to desirable business outcomes.  

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