posted on 9/29/2011 4:14:43 PM
PLM consulting firm CIMdata has published a paper that outlines how manufactures can use BI to leverage PLM across the enterprise, providing a competitive edge for delivering products to market.
Business intelligence software is used by many manufacturers to analyze data from multiple enterprise systems as a way to accelerate decision-making related to business operations. Rarely, however, does product lifecycle management software get factored into the equation. But it should.
According to PLM consulting firm CIMdata, in today’s competitive global market, companies must effectively leverage their product development information across the enterprise to gain insight into how they can deliver the right product to the right market at the right time. Companies that are using business intelligence (BI) and analytics on PLM processes are in a better position to create new business opportunities, CIMdata said, which can ultimately position the company as the “first mover” in its market.
The concept is outlined in a new CIMdata white paper entitled, “Smarter Decisions—Differentiating Products: The Strategic Value of Business Intelligence in PLM.” With an emphasis on BI vendor eQ Technologic, the paper provides a perspective on the importance of BI within product development, uncovering some of the business pressures that motivate the use of BI with PLM, as well as how the combination may unfurl more value in the future.
The white paper, available for free from the CIMdata Website, explains the basics of BI, which include analytics, reporting, collaboration, and knowledge management technology to support effective, timely, and actionable decision-making. It also explains how BI can ultimately help users discover the full potential of their PLM deployments by creating new system monitors for spotting patterns and trends that may translate into innovative product development ideas.