6 Reasons why Business Intelligence is so Valuable for your Cannabusiness

Posted by Guest Author on 26 April 2021

The ‘best fit’ ERP solution for your cannabusiness is one that provides you with visibility across your entire organisation. Data analytics that show you exactly what’s happening from seed to sale and allowing you to understand and report on operational delivery, and key business metrics and financials, all tailored to the needs of the audience.

In an industry that will enjoy unprecedented revenue growth in the coming years and the exceptionally competitive environment that goes with it, the value of in-depth insights into your cannabusiness’s performance cannot be underestimated.

A data driven decision is the best decision

At some point in your cannabusiness journey, and it’s irrelevant when, you’ll want to have access to more in-depth analysis and be in a position to view your organisation at the most granular level.

Ideally, you’ll need expert tools integrated with your ERP solution to provide a dynamic and agile environment for you to achieve a truly in-depth analysis across the breadth of your business whether that be operations, financials, or sales.

One such solution is Sage Data & Analytics (SD&A) which automates and simplifies the process of collecting data from your ERP and combining it with other applications and data sources.

(You may be interested to read more about Sage Data & Analytics)

Its standardised approach, automation, out of the box capabilities and strong integration makes managing data and extracting accurate and relevant insights really simple. Unlike other BI tools, there is no need for manually built, proprietary data warehouses.

Here are 6 reasons why business intelligence is so valuable for your Cannabusiness...

 

1. Simplicity

A pre-set and highly customisable data model allows for the straightforward collection, management, and optimisation of data.

2. Lower cost and risk

Because there’s no need for manually built, proprietary data warehouses that are also expensive to maintain, your cannabusiness will see a quicker return on investment with less risk and total cost of ownership.

(You might also want to check out "5 Reasons Why a Data Warehouse Improves Business Reporting")

3. Scalable to grow with your cannabusiness

Available as a cloud-based solution, SD&A is highly scalable and meets the evolving demands of your growing cannabusiness.

4. Intelligent business-wide insights to deliver success

Having the ability to create and organise data from multiple applications and data sources provides the level of granularity required to pinpoint and measure the strengths, challenges, and trends across every function of your cannabusiness enabling you to make smart, well-informed, and real-time business decisions that will deliver success for your organisation.

5. Cannabusiness Compliance

As a heavily regulated industry that requires the highest quality and compliance standards, a solution that helps to deliver robust reporting, rigorous testing and stringent controls is crucial to any cannabusiness.

Whilst compliance can prove costly in the cannabis industry, a relevant BI solution will help reduce the cost of being compliant by providing tight control, adding to profitability without losing focus on quality and profitability.

6. Trusted and Secure Data

Robust governance and tight data controls, multiple levels of security and user-friendly administration tools ensure the highest levels of data integrity and security.

(This article was originally written by Joe Gentile, Managing Director of Aptus Business Solutions on LinkedIn Pulse)

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Guest Author This blog post was written and provided to us by a guest author. View my social profiles: LinkedIn | Twitter