Business Intelligence / BI – Smart Factory Glossar

Business Intelligence (BI) refers to the process of collecting, analyzing, and presenting business data in a way that makes it easy to understand. The aim is to provide companies with data to make well-founded, operational, or strategic decisions.

Business intelligence comprises a variety of methods and tools for collecting and analyzing data from different sources. BI incorporates data from both internal information systems and external sources to create a meaningful overall picture. Besides your own company data, information on competitors or market developments is also of interest. All aspects are processed and visualized in easy-to-understand diagrams and dashboards so that decision-makers can identify patterns and trends that would remain hidden without the use of BI technologies.

Interaction of Business Intelligence and MES

In production, a Manufacturing Execution System like MES HYDRA X by MPDV provides crucial shop floor and machine data to calculate key figures such as Overall Equipment Effectiveness (OEE) can be derived. This data can be clearly displayed in a customizable dashboard. Data from HYDRA X can also be transferred to a business intelligence system for analysis. MPDV's Manufacturing Integration Platform (MIP) is another IT system providing production data. The platform can be used as a data source for BI tools and vice versa. Information for production processes can be transferred from the BI system via a bidirectional interface to the MIP.

Main objectives of Business Intelligence

• Better decision-making: By providing and analyzing historical and current data, companies can make informed decisions quickly.
• Operational efficiency: BI helps companies to understand and optimize their business processes with the aim to increase efficiency and productivity.
• Greater competitiveness: When companies identify trends and business opportunities and adapt their strategies accordingly, they gain significant advantages over their competitors.
• Long-term company growth: Data can be used to understand what customers want and how the market is expanding. Companies can use this knowledge to develop more targeted offers and tap into new business areas.

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