Big data, data management, data analytics and ERP: what are we talking about?
In the era of the digital revolution, understanding certain concepts allows us to better understand the inevitable process of digital transformation. Here is a synthetic explanation of big data, data management, data analytics and ERP. These notions are often at the heart of a high-stakes IT project within a company.
Strategy FINANCE
Big data, an ever-growing amount of data
Big data refers to a very large set of data that no traditional database management or information management tool can fully exploit.
The processing of this mass of digital data raises various issues:
- a considerable amount of data to manage,
- different data sources,
- increased processing performance,
- efficient management of reference data.
Innovative tools for real-time processing of big data are :
- storage systems, such as cloud computing,
- technologies adapted to unstructured data,
- powerful BI (Business Intelligence) & Analytics solutions.
Data management, the development of digital resources
Data management is a management discipline that aims to manage digital resources to extract value from them. This is a vision of information system management that is built around the nature of the data and not according to a system and its interactions.
This data management allows for the development of architectures, regulations, practices and procedures that properly manage the needs of organizations across the entire data life cycle.
With data management, companies are rediscovering the strategic importance of data:
- The Internet of Things allows a massive collection of information with a strong potential if they are processed and analyzed,
- Artificial intelligence is developing thanks to big data,
- Machine learning, which makes predictions using statistics and data mining, becomes more efficient when it is based on large volumes of information.
Data analytics, data for decision making
Enterprise Resource Planning (ERP)Integrated Management Software, or ERP, is a computer system capable of managing and monitoring all the information related to the main operational processes of a company on a daily basis, such as order management, invoicing, management of accounting entries, sales management or resource planning..
ERP is an IT solution whose deployment offers several advantages:
- Centralization of data storage in a single tool,
- increased traceability of information and actions,
- Increasing the reliability and quality of data,
- productivity improvement,
- Simplification of the company’s management thanks to the global vision and the reliability of the information.
The massive flow of data, the big data, is valued thanks to data management and data analytics. To help companies use their data efficiently, ERP systems centralize information and ensure its reliability and traceability.
DOWNLOAD OUR LATEST WHITE PAPER FOR FREE
DAF AND DSI: HOW TO SUCCEED IN YOUR ERP FINANCE PROJECT?
Also read in our " ERP Finance project " file:
- What are the key challenges facing finance managers today?
- What are the key regulatory issues for CFOs in 2019?
- Digital transformation of the finance function : where do you stand?
- Digitization of the finance function: what should we expect in the future?
- What changes does dematerialisation bring to the finance function?
- Finance management: what technological tools are available to CFOs?
- ERP software definition: what is an ERP?
- What is the use of an ERP solution for the finance function?
- ERP finance: what do you need to know as a finance manager?
- CFO: what are the advantages of an ERP for the finance function?
- Finance software: which ERP to choose for your company?
- Postmodern ERP: the right choice for your company?
- Should you consider a Postmodern ERP solution?
- The challenges of a post modern ERP
- Post-modern ERP: the checklist
- Help in choosing ERP finance: why use a firm?