Business intelligence refers to the data a company collects that can be applied to strategic business decisions. Six different types of data can be used to make smarter business decisions and build a successful sales funnel. Let’s take a look at them.
1) Manufacturing Analytics
Manufacturing analytics help summarize the production progress and help determine the total working hours and associated expenses. It enables you to identify the rate of production, equipment failures, poor quality control, or bottlenecks that could be slowing down production. Both AI and ML help in industrial process optimization. To get a complete picture of the entire manufacturing cycle, an analytics dashboard must merge all the data sources.
The critical manufacturing analytics metrics to measure are:
- Production volume
- Production costs
- Overall equipment effectiveness (OEE)
- Productivity in revenue per employee
- Overall operations effectiveness