Questions and Answers
What are the three significant limitations of ERP systems?
What does Business Intelligence (BI) aim to improve?
Timeliness and quality of information
ERP systems provide data about past trends.
False
What are some technologies that can help overcome ERP limitations?
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Business Intelligence (BI) is required for an enterprise to have in-depth knowledge about factors such as __________.
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Which of the following is NOT a component of Business Intelligence (BI)?
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Which of the following can Business Intelligence (BI) reveal?
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The ultimate objective of Business Intelligence (BI) is to __________.
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Study Notes
Introduction to ERP and Related Technologies
- Chapter covers significant limitations of ERP as well as technologies that enhance ERP systems.
- Focus on technologies that transform traditional businesses into e-businesses.
Significant Limitations of ERP
- Custom report generation requires programmer assistance, delaying timely decision-making.
- ERP systems only reflect current status, lacking insights into trends and patterns for effective decisions.
- ERP data is not integrated with external systems, limiting comprehensive analysis.
Technologies to Overcome ERP Limitations
- Various technologies can complement ERP systems to enhance functionality:
- Business Intelligence (BI)
- Business Analytics (BA)
- Data Warehousing and Data Mining
- Online Analytical Processing (OLAP)
- Product Life Cycle Management (PLM)
- Supply Chain Management (SCM)
- Customer Relationship Management (CRM)
- Integrating these technologies can assist in high-speed business operations.
Business Intelligence (BI)
- BI leverages artificial intelligence to aid management in decision-making.
- It encompasses applications and technologies for data collection, analysis, and access.
- Organizations require deep understanding of customers, competitors, partners, and internal processes for informed decisions.
Benefits of Business Intelligence
- Enables organizations to make data-driven, timely business decisions.
- Facilitates forecasting future trends by analyzing external indicators.
- Timely information acts as a predictive tool, guiding organizational strategy.
- BI enhances the quality of information, improving overall decision-making processes.
Information Revealed by BI
- Comparative positioning of a firm against competitors.
- Changes in customer behavior and spending habits.
- Understanding of the firm's capabilities and internal metrics.
- Insight into market conditions, future trends, demographics, and economics.
- Awareness of the social, regulatory, and political landscape affecting business.
- Status and positioning of other firms in the marketplace.
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Description
This chapter delves into the significant limitations of various technologies related to Enterprise Resource Planning (ERP), including Product Life Cycle Management (PLM), Supply Chain Management (SCM), Business Intelligence (BI), and Customer Relationship Management (CRM). You'll explore how these systems interconnect and their implications for business analytics and data warehousing.
