Business analytics has moved from a “good to have” to a “must have” necessity for the manufacturing industry. Manufacturing companies are seeking to use analytics driven by real-time production data to improve business processes, find operational efficiencies and make better products. In this blog, we’ll talk about how analysis is beneficial to manufacturing organizations, plus some successful examples to prove it.
Why you should do business data analysis?
Business intelligence (BI) or business data analysis is the process of looking at and assessing the wealth of data your company already has at its disposal and using it to make data-driven decisions. Here is how data analysis in the manufacturing industry is transforming the entire process.
1. Pave the way for better product management
Product management is one of the biggest challenges for the manufacturing industry. Optimal supply chain and inventory levels require sound forecasting and the ability to alert purchasing of changes in demand patterns.
In Zoho Analytics, you can create a manufacturing/production dashboard that reflects the number of products produced, defects observed, goods sold, and products packed & shipped.
Use Case – Zoho Analytics’ features, like data visualizations, look-up functions, blending of data, the formula engine, interactive reports, and, collaboration, were all of the great value for Flexxaire, a designer and manufacturer of reversible fans for diesel engines. With Zoho Analytics, Flexxaire easily created data stories and data visualizations for how much and what type of product they sold in which region for a given month/week. The company generates sales, project-level, and quality metrics in seconds and reduces analysis time by 90%.
2. Increase operational efficiency and productivity
Equipment connected through sensors and edge devices generates massive volumes of data. Analytics can put this asset performance data to valuable use for manufacturers.
With the help of Zoho’s cloud-based analytics and business intelligence platforms, you can analyze and understand data faster than human perception. For instance, manufacturers can minimize unplanned downtime by optimizing the analytics algorithms to detect potential anomalies in the production process or equipment and conduct proactive maintenance. This in turn can reduce costs and increase productivity.
Use Case – FANDELI, the only producer of coated abrasives in Mexico, was able to identify gaps and compare efficiencies across inventory and support departments with Zoho Analytics. As a result, the overall productivity of the company increased.
3. Better forecasting and inventory management
Demand forecasting is critical for modern manufacturers and having complete control of the supply chain allows for better inventory control.
With a better understanding of how long it takes to make parts, the productivity of employees, employee attendance, actual hours spent on the job, materials used on a job, and the expected costs and profit of a given job, manufacturers can set realistic and manageable targets.
Use Case – Springfield Mechanical Services, a commercial and industrial mechanical contractor in southwest Missouri, used Zoho Analytics’ forecasting feature to set reliable and realistic targets for their sales teams enabling them to close 20% more sales every year.
4. Enables faster decision making
BI collects and analyzes data almost instantaneously. This lets your manufacturing business react more quickly to market changes and operational issues. Zoho Analytics platform integrates with many leading ERP solutions, third-party apps to enhance business intelligence.
Use Case – PREMO Group, a Spanish company that manufactures and sells electronic components, not only saves 1000 hours in a month but makes decisions faster now with Zoho Analytics. The company gets a 360-degree view of the customer journey, suppliers who are working on product orders, how many employees are working on that project, total time, money spent, proposed delivery date, consignment status, and more in one place.
Conclusion
Manufacturers can benefit from using business analytics. Zoho Analytics fills the gap left by applications that lack the breadth and depth of functionality and features.
Contact First Direct Corp
First Direct is an authorized Zoho Partner to start a free trial of Zoho Analytics today. Contact us here or call (845) 221-3800 to learn more about Zoho Analytics and manufacturing business intelligence!
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