The application of data analysis in businesses is vastly increasing every day and if applied with the right strategy, the possibilities are endless. Data can be considered as your wealth and future. So how analytics’ and ERP related? This question may rise in your mind. Of course they can be considered as central co-ordinates of successful business.
What is an ERP?
Every department within an organization typically has its own computer system, optimized to suit the way that department operates. Basically ERP combines the multiple departments systems into a single platform, integrated software program that runs of a single database. Of course, the one integrated software is then divided into software modules that are replicas of their older standalone counterparts. On the other hand, ERP is an operational system chock full of operational and transactional data. It will give you an exact view of your business from an operational perspective.
Data analysis and ERP
Once we started using an ERP the operational procedures and data management of your firm get stabilized. Though it won’t be that fruitful unless we started exploring the data. So your future business decisions, employee’s performance, vendor performance etc.. are completely relay on past data analysis .Can you just imagine a case where you started analyzing for 5 year sales data in tabular format? Yes that’s not a feasible strategy. Appropriately, there should be a platform can mold the data to a convenient format for proper analysis, at this stage where Odoo dashboard scores its import ants
How Odoo support BI and data analysis?
Odoo providing a volatile platform for data visualization Called Odoo Dashboards. All the data that we feed into the ERP can drag out and mold to a useful graphical views. As an initial talk let’s have some outlook in the basic analyzing cores.
- Lead Analysis
- Employee performance analysis
- Stock/inventory analysis
- Sales analysis
CRM >> LEADS >> GRAPH VIEW
- Group the lead based on region/country or in base of any data that we given
- Set filters to filter out a particular set of data
- Compare with the previous period with Time Ranges option
Above graph illustrate the lead probability analysis in CRM dashboard in Odoo ERP where leads from Australia found to be comparatively far less in contrast with other regions. So it indicates there should be a proper market strategy at that particular region or time to rethink about the current market strategy over that region, until that the leads from Australia should treated with less priority. Similarly as the data grows verdicts will be strapping.
Employee performance analysis
CRM >> LEADS >> GRAPH VIEW >> GROUP BY>>SALESPERSON
Here am just plotting the lead wise performance of sales person, similar options are available in each module for corresponding employee analysis.
Group the lead based on the sales person check the probability of leads/expected revenue etc.. so that you can analysis the lead data based on sales person there by proper sales person performance analysis is possible. Also the comparison based on time range is also available
There will be six options available for inventory analysis
- Warehouse analysis
- Inventory analysis
- Forecasted inventory
- Inventory valuation
- Stock moves
- Product moves
In the warehouse analysis part itself the overall report of the warehouse is available
Average delivery cycle time, receipts cycle time, delivery delay, inventory turnover, outgoing and incoming inventory values etc…
Next option is inventory reporting where the stock status of the products are analyzed
Another particular feature is inventory forecasting where, based on the purchase order and sales order the quantity of the product is predicted for the future.
Quality will be increased based on the PO date and decreased by delivery order.
In this analysis, the forecasting is done product wise for one month duration, So that based on the forecasted inventory stock, purchase and proper vendor management can be done
Current product wise status and history of stock moves will be reported here
Stock move analysis
Warehouse wise stock move analysis
Product move analysis
Sales >> Reporting >> sales
Odoo sales reporting is highly capable of sorting all sale progress and decline. Using the line graph analysis over a particular duration is well organized in order to figure out all seasonality and feature selection of the past sales data.
For the product wise sales analysis
Filter >> add custom filter >> Product >> contains >> “PRODUCT NAME “
Also time rage option is available for the time range wise data comparison