- Understand your data sources
- Define your business goals and questions
- Choose the right tools and techniques
- Visualize and communicate your results
- Here’s what else to consider
1. Understand your data sources
Before you dive into your ERP data, you need to have a clear understanding of where it comes from, how it is collected, and how it is organized. ERP systems typically include modules for different functions, such as accounting, inventory, sales, human resources, and so on. Each module may have its own data model, standards, and formats. You also need to know how often your data is updated, how reliable it is, and what are the potential gaps or errors. By understanding your data sources, you can avoid confusion, duplication, and inconsistency in your analysis.
2. Define your business goals and questions
The next step is to define your business goals and questions that you want to answer with your ERP data. What are the key performance indicators (KPIs) that you want to measure and improve? What are the trends, patterns, and anomalies that you want to discover and explain? What are the hypotheses that you want to test and validate? By defining your business goals and questions, you can focus your analysis on the most relevant and impactful data, and avoid getting overwhelmed or distracted by irrelevant or redundant information.
3. Choose the right tools and techniques
Once you have defined your business goals and questions, you need to choose the right tools and techniques to analyze your ERP data. Depending on your needs and preferences, you may use different software applications, such as spreadsheets, databases, business intelligence (BI) platforms, or data science tools. You may also use different techniques, such as descriptive, diagnostic, predictive, or prescriptive analytics. You should choose the tools and techniques that suit your data type, size, and complexity, as well as your analytical skills, budget, and time constraints.
4. Visualize and communicate your results
The final step is to visualize and communicate your results to your stakeholders and decision-makers. You should use appropriate charts, graphs, tables, dashboards, or reports to present your findings in a clear, concise, and compelling way. You should also use storytelling techniques, such as narratives, context, and recommendations, to explain the meaning, significance, and implications of your results. By visualizing and communicating your results effectively, you can demonstrate the value of your ERP data analysis and influence positive actions and outcomes.
5. Here’s what else to consider
This is a space to share examples, stories, or insights that don’t fit into any of the previous sections. What else would you like to add?
