CIMdata Publishes “Smarter Decisions - Differentiating Productsrdquo;About Business Intelligence and PLM

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September 22, 2011

ANN ARBOR, Michigan, 22 September 2011 - CIMdata, the leading global Product Lifecycle Management (PLM) management consulting and research firm announces a new paper about the use of Business Intelligence and Analytics in PLM.

In today’s highly competitive global market, bringing differentiating, right to market products faster is critical to a company’s success as they strive to obtain a “first mover” competitive advantage. To effectively leverage their product information, companies are using business intelligence (BI) and analytics solutions to provide users the right information, in context, for their needs.

BI is being used to assess the efficacy of a PLM system deployment across a complex global enterprise and its New Product Development (NPD / NPI) processes. BI solutions gather, aggregate, analyze and disseminate information with historical, current and predictive views of that information to facilitate decision-making. It provides data and performance analytics to measure progress, benchmark the performance, and pinpoint prioritized areas of improvements via key performance metrics and digital dashboards. Importantly, BI is being used to drive processes based on changes in business and product information and process status.

This paper provides a perspective on the importance of BI and analytics within product development: the pressures that motivate its use; BI’s role; it value and future; and how one company, eQ Technologic, is developing and delivering advanced, rapid BI solutions for the PLM market.

“Smarter Decisions - Differentiating Products” is available to be freely downloaded from CIMdata’sPublications web page.

Obtaining a significant improvement in business performance requires the ability to

quickly

collate, aggregate, and present information from multiple business systems (PLM, ERP, CRM, etc.) so that users can make faster, more informed decisions. With so much information being created in these systems, new solutions are required to help users and management work more effectively

A primary objective of BI is to support effective, timely, and actionable business decision-making. BI incorporates the following functions:

But to make a better decision, all the data must be turned into information that is accurate, timely, and actionable. It should be presented to users in a form that enables them to synthesize and analyze the vast amounts of data being created in multiple business systems. They need to be able to understand patterns and spot trends.

Additionally, to maximize the efficacy of the PLM initiatives, companies need comprehensive capabilities to track and monitor various aspects of PLM processes, managed information, and product programs. Companies often do not understand what to focus on and how to get the most out of PLM. BI tools and techniques can be essential for creating structure from vast quantities of data, while analytics helps expose the most relevant information for the benefit of decision-makers. BI is essential for companies to realize the full potential of PLM.

News Source : CIMdata Publishes “Smarter Decisions - Differentiating Productsrdquo;About Business Intelligence and PLM