Organizations have access to more information than ever before, and they're able to get it instantly. How they use it, though, can make or break them.

Big Data has an enormous effect on every type of business, and the ones that know how to use this data will set themselves apart from the competition. Manufacturing companies in particular can benefit from this influx of business intelligence thanks to business management software systems that allow them to capture essential data. 

Improved forecasting

Louis Columbus of Forbes notes that the access to more data has allowed manufacturers to do a better job predicting customer demand. This includes identifying correlations between customer interactions and using historical data to detect patterns. 

Operations optimization

Thanks to all of the data that's available, manufacturers and distributors have more information on the full supply chain. They can see any inefficiencies in their processes and take corrective action. The more performance metrics manufacturers have, the more educated decisions they're able to make about the process. These metrics allow manufacturers to develop more cost effective production schedules based on machine availability, customer data, cost constraints and supplier schedules. 

Mobility

Sashi Reddi of CSC notes, "As companies become more data-driven, it's only natural that those insights find their way into the hands of people who can put them into action." Mobility amplifies the power and effect of data analytics because decision-makers have more flexibility to access this information wherever they are, and it's instantly actionable. 

ERP software allows manufacturers to harness all of this actionable data in a central hub. All departments can get on the same page and communicate more clearly by accessing the same information. Modern manufacturers rely on accurate and up to date information to stay ahead, making manufacturing ERP software an essential tool.