Data analysis with SAP Business One. The essentials.

In the following sections, we will explain why data analytics is so important for your business, no matter its size. All the concepts covered will be related to data analysis with SAP Business One, a very powerful and user-friendly tool that is putting advanced analysis techniques within reach of all types of companies.

If you stay until the end, you'll not only learn relevant concepts about business intelligence, we'll also show you the steps needed to integrate the SAP Business One data analysis functionalities into your own company.

Why has data analytics become so important?

The first question we need to answer is why data analytics has become so important for companies. These days, businesses are facing more challenges than ever. Digital solutions have helped even smaller companies become highly competitive.

Knowing how data analytics allows all kinds of companies to overcome the obstacles facing them will let you see more clearly the real importance of this technique and the technology behind it.

The current challenges facing companies

Regardless of the size of your business, you'll no doubt agree with us that the number of challenges companies must overcome is on the rise. This list details some of the most significant ones:

• Ongoing innovation process. The market requires companies to develop new products and services that meet the changing needs of customers and exceed quality expectations.
• Agility when implementing changes. Every business must be able to quickly adjust its business strategies, processes and models in order to take advantage of opportunities and respond to threats from the competition. Markets are constantly changing, and require more of companies in this regard.
• Efficient supply chain management. Another challenge facing companies is managing the supply chain. This area demands constant optimisation. Only in this way can companies reduce costs, minimise risks in the event of a contingency and collaborate with vendors.
• Adoption of new technologies. Have you heard of the digital transformation? Companies that don't make the switch are being left behind. Software solutions, such as SAP Business One, help optimise operations, improve efficiency and productivity, and offer an exceptional customer experience.
• Be more environmentally friendly. There is pressure on all companies to operate sustainably. And with good reason. The climate emergency is pressing, meaning we need to adopt commercial practices that take into account the environmental impact.
• Provide the best customer experience. Customer service is a key way to stand out from the crowd. But we must go further. Companies must understand their customers' expectations, offer personalised services and build lasting relationships.

Any other challenges you don't see on this list? Perhaps your business is trying to overcome some hurdle that isn't mentioned here, such as improving cybersecurity or reaching international markets. We realise that these are not trivial issues.

The point is that any challenge your business is facing can be overcome successfully thanks to data analytics. The benefits of this set of techniques are enormous and are applicable in countless areas.

Business challenges overcome thanks to data analytics

Having explored the most common challenges facing companies today, it is time to learn the benefits of applying data analytics. Spoiler alert: there are many.

While you read the full list, we propose a simple exercise: relate each point to your company's current challenges. You will quickly see the added value that data analytics offers your business.

• More informed decisions. Analysing information provides the context needed to make the best decisions.
• Knowledge of trends and patterns. Analytics helps companies anticipate market needs and adapt to changes quickly.
• More efficient operations. Data analytics identifies inefficiencies, reducing costs and improving business efficiency.
• Know your customer. Companies can use data to understand preferences and behaviours so they can offer personalised experiences and improve customer loyalty.
• Identification of risks. Having quality information lets companies identify suspicious patterns and mitigate potential fraud or risks.
• Enhanced marketing. Data are used to optimise strategies, segment customers and increase the return on investment of advertising campaigns.
• Competitive edge. Thanks to fast, correct decisions, a company stands out above its competition and adapts to market needs faster.

Having laid out these benefits, it is clear that data analytics is what your business needs.However, to make this technique truly effective, it is essential to have the right tools, and to implement it in a way that considers your company's characteristics. In the following sections, we are going to see how data analytics in SAP Business One fits in with this approach.

How does data analysis with SAP Business One work?

SAP Business One is an enterprise resource planning system, or ERP. Intended for small and medium-sized enterprises, it allows for efficient data integration and analysis. Through various technologies, it offers a comprehensive platform for gathering, managing and analysing business information.

This is ERP software that integrates with various internal and external data sources, such as accounting and inventory systems, to give just two examples. As a result, all relevant company information is centralised in one place, doing away with the need to work with multiple isolated systems.

Once the data from multiple sources are integrated, SAP Business One uses advanced technologies to analyse all the information. Conclusions can then be drawn thanks to practical and simple reports. It also features tools to display data that present the information clearly and easily. These are not static reports, but rather interactive graphics, tables and dashboards.

Artificial intelligence and machine learning play a key role in data analysis. This technology can identify patterns and make predictions about the future. This makes it possible to optimise various processes and take better decisions.

Without a doubt, this is a tool with incredible potential. In light of these explanations, you may well ask yourself what specific analytics tools this digital solution includes. Let's take a closer look at each of them.

SAP Business One data analysis tools

In this section, we will explain in more detail each of the data analysis tools that SAP Business One includes. This involves important issues such as the integration of data sources and the introduction of key performance indicators.

While it is true that in the previous section we presented an overview, here we explain the specific features that enhance data analysis in SAP Business One. We recommend you read the following points carefully. They include a practical example to help you understand what each tool is for.

Integration with other data sources

A key feature of SAP Business One is its ability to integrate with other data sources, which provides an overview of a company's information. This functionality is incredibly useful for companies, since it lets them get data from different systems and thus make better use of it.

Consider a company that manufactures electronic products. Although it uses SAP Business One as its main ERP system, it has additional applications to track its machinery. These programs provide valuable data with a lot of potential. By integrating data from other sources, supervisors leverage the information they obtain from the software in their machines to make the entire process more efficient.

In addition, by combining and analysing these data together with the internal information of SAP Business One, the company can identify demand patterns, adjust its production and effectively manage its inventory. As you can see, the integration of SAP Business One with other data sources is one of the most important capabilities of this platform, since it does away with barriers between systems and provides a unified business data analysis platform.

Segmentation and filtering of information

Another key feature of SAP Business One is its ability to segment and filter information. What does this mean and why is it so useful?

Let's continue with the example provided in the previous section. Our electronics company uses SAP Business One tools to segment its customers based on different criteria, such as geographic location, purchasing history or specific preferences.

Thanks to this data curation and subsequent filtering process, the marketing department customises sales strategies for each group of customers. Instead of sending generic messages to every contact, they are targeted and effective.

The department's actions are also more streamlined. By filtering information, it can quickly access specific data, such as the best-selling products in a given period, or customers with the greatest growth potential. This way, the company's general operations become much faster and more efficient, adapting better to the market.

Identification of trends

Within the broad world of business intelligence, the ability to predict the future is a fundamental pillar. This is made possible thanks to the identification of market trends.

To better understand this point, consider the technology products company once more. This company, which uses SAP Business One, employs analytics to draw conclusions from historical and current data. Thanks to the automated processing of this information, the heads of the different departments can identify certain trends in the electronic products market.

For example, they may notice negative changes in the demand for certain products. Or the data may clearly show that its customers' preferences have shifted. However, having this information helps management to make strategic decisions, such as adjusting production, developing new products or addressing growing market segments.

By identifying trends, the company can quickly adapt to changes. It is useful, on the one hand, for leveraging opportunities, but also to keep pace with the competition when something doesn't go as planned.

Key performance indicators (KPI)

Companies can also use SAP Business One to define and monitor Key Performance Indicators, or KPIs. This allows companies to establish specific metrics and make informed assessments of the current status of their operations.

For example, they can establish KPIs related to efficiency, such as average production time or product quality. By integrating data from different systems, the ERP collects relevant information, generates reports and designs dashboards. This is useful in all types of businesses, since it provides an overview of development.

Turning again to our fictitious company, which is in the electronic products market, production managers would be able to identify delays in processes or deliveries. This makes it much easier to tackle problems at the source.

Other KPIs that SAP Business One works with are:

• Production cycle time
• Total cost of ownership (TCO)
• Delivery time
• Defect rate
• Level of customer satisfaction
• Inventory rotation
• Satisfaction with customer service
• Sales conversion rate
• Average response time
• Customer acquisition cost
• Sales cycle length
• Customer retention rate

Obviously, the key indicators are adjusted to each company's needs. Depending on the software implementation, KPIs are displayed such that the utility of the information provided by the platform is maximised.

Personalised data displayed in real time

Finally, let's close out this list of key SAP Business One tools by discussing the customisation options when viewing data. With its simple, user-friendly interface, companies can adjust the dashboards and display data to suit their specific needs.

By creating and using their own unique dashboard, companies can view key metrics and graphics relevant to their business. You can select and set up widgets to view important information, such as monthly sales, product performance or inventory indicators.

A notable aspect of this feature is that it can be used to check updated figures in real time instantly. Our imaginary company can also benefit greatly from this tool.

Since its business model includes the storage of electronic products, the dashboard can be used to check inventory levels in a specific warehouse, or sales by region for a specific period.

Data analysis with SAP Business One is for everyone

Although we have been talking about tools designed to deal with complex processes, data analysis with SAP Business One is within everyone's reach. If there is one thing this software is known for, in addition to its processing power, it's how easy it is to use and its ability to adapt to the needs of users.

One of the advantages of SAP Business One is the ability to customise reports, which are in real time, and data displays based on each user's preferences. This means that people with different responsibilities within the company will only access the information they need to do their job. And they can do so in just a few clicks, without having to deal with irrelevant data.

Its intuitive ERP interface also makes it easier for users, even inexperienced ones, to understand the data. The way information is presented, through interactive graphics and tables, helps to make data more accessible and understandable for all.

Finally, the platform's ease of implementation is a key factor to let users of all experience levels harness this technology. You don't need to have a specialised IT team or set up complicated configurations. The only requirement is to work with a reliable partner with extensive experience integrating these solutions into all types of businesses. The software can be implemented quickly and efficiently, which allows companies to start analysing their data within a short time.

SEIDOR brings all the power of SAP to your business with a unique implementation

Data analysis with SAP Business One should be present in every company, regardless of its market or size. The competitiveness of the market and the challenges facing organisations have now turned these tools into a crucial component for all types of businesses.

It is an all-in-one platform that goes far beyond data analytics. Since it is an ERP, it can be used not only to gather, process and display information, but for all these other purposes as well:

• Business resource management. It integrates and manages key company processes, such as finance, sales, purchasing, inventory and production.
• Process automation. The platform speeds up and standardises workflows, doing away with manual tasks and improving operational efficiency.
• Big picture. It centralises information on a single platform, providing a full and real-time snapshot of the company.
• Inventory management. It optimises inventory management, product monitoring, quality control and logistics.
• Customer management. Thanks to the CRM feature, it makes it possible to track the entire customer lifecycle, from sales and marketing to after-sales service and support.
• Accounting and finance. It manages financial transactions, such as accounts payable, accounts receivable, bank reconciliation and generate financial reports.
• Optimisation of the purchasing department. It tracks the process of purchasing materials and services, from the purchase request to receipt and invoicing.
• Human resources. It manages employee information, payroll, benefits and performance monitoring.
• Regulatory compliance. It helps comply with legal rules and regulations, guaranteeing transparency and accurate financial and operational data.
• Collaborative experience. It facilitates communication and collaboration between departments and teams, improving efficiency and decision-making.
• Customisation and scalability. The system can be adapted and customised to meet the specific needs of the company, allowing for sustainable growth.
• Quality customer service. It manages service requests, claims and guarantees, providing efficient and quality customer service.

This software offers comprehensive solutions to increase productivity, improve decision-making and optimise your company's operations. However, it is important to remember that these potential benefits depend on a personalised implementation that is tailored to your business.

At SEIDOR, we have 40 years of experience providing quality software solutions to companies in different sectors. Our team of experts is ready to advise you and help you make the most of your data analysis with SAP Business One.

Don't wait any longer. Get in touch with us and take your company to the next level. Our goal is to help you be more competitive in the market so you can achieve the business success you want. Now is the time!