Making the Most of Your Data
By Katie Foley
"Big data" is a buzz word in the technology space, but what does it mean? Big data is the collection and analysis of data sets, too large and complex for simple analysis, and often unstructured. This blog post will take a look at how to make the most of your data with your ERP system.
When it comes to big data what considerations should we be thinking about? Major considerations include, how much data is there, where is the data stored, how much time does it take to process the records, what am I looking for and what tool sets am I familiar with?
The data comes in the following formats - log files, HTML pages, and ERP data. We can analyze this data using hand-crafted processors, specialized programming languages such as R and Python, as well as SQL queries. Many data science advances help us analyze big data including map/reduce, random sampling, nearest neighbor search, and decision trees/random forest.
Perhaps the most important question in the context of big data and ERP systems is what can we extract from ERP data sets? Using big data analysis we can extract. product trends, cost trends, customers and income, margins and manufacturing defects and product failure to name a few.
Examples of Big Data Applications:
- Google's search algorithm
- Computer vision
- Machine learning
Manufacturers own a lot of important data, but without the proper tools to analyze the data, the data almost becomes useless. Learn how to make sense of your big data with your ERP solution and the many tools ERP solutions offer. Click here to learn how VISIBILITY ERP could help you make the the most of your ERP data.