Measurable Values
Running head: PHOENIX FINE ELECTRONICS 1
PHOENIX FINE ELECTRONICS 4
In the sphere of business, there is a lot of confusion among Business Intelligence (BI),
Enterprise Resource Planning (ERP) and Customer Relationship Management (CRM) systems with
the major one being that most people think BI is the same as ERP. In contrast, BI is a more evolved
technology which, even though it relies on ERP, is also based on back-office data. Moreover, not
everyone is aware that most CRM functionality can be embedded in ERP and BI solutions. To fully use
the potential of the BI and CRM systems, they should be integrated into a central system supporting
the management of the organization, which is usually an essential element of companies' internal IT
infrastructure. In this paper, the authors are committed to describing and explaining the significant
differences existing among BI, ERP, and CRM systems in various aspects. Also, the authors aim to
explain the advantages and disadvantages of those solutions and future trends. The methods
used in this study are analysis, observation and the review of literature
Phoenix Fine Electronics
Name
Institution
The chart on how ERP, CRM, and BI can assist the business
BI (Business intelligence)
Suppliers
Customers
ERP
CRM
Fig 1. A chart showing how ERP, CRM, and BI assist the business
How the system support management
Creation of successful relationship by the business and IT through the system
The vast amount of data id gathered analyzed then used through the methods which a bit complex. For that matter, a team that is dedicated to technical and analytic experts are needed in customizing and handling such systems. The system creates a successful relationship with the business and IT through improving efficiency in the operations executed. BI systems enable sophisticated IT techniques that are used in making data easier to comprehend by the management. The association makes operations of the business run smoothly, particularly when it comes to decision-making techniques. The relationship between the IT system and BI makes the management to make clever business strategies in moving the company forward.
Executive Summary
Phoenix Fine Electronic (PFE) needs a systematic solution that will rectify its current condition, toward expansion, acquisition of smaller independent stores, along with the CEO's thoughts about how department and customer data can be aggregated to allow the company to make better, timely business decisions. The information below will supply the organization with pertinent information to help guide the organization to its mission.
As a recommendation to PFE, this organization should be aware of their options. Through thorough research of organization desires it has been found there are other possibilities such as enterprise resource planning (ERP); as indicated by Mehta (2016), ERP offers management together with integrating business operations for the firm that incorporates sales and promotions, engineering, human resources in addition to product development. Because the organization's goal is to continue expansion into an additional three neighboring states within the next five years. The belief is that this is not feasible due to the cost and time constraints.
There is also the business intelligence/ decision support system (BI/DSS) option, which offers a degree of choice, which provides users with competition among themselves, while also familiarizing them with the business intelligence (BI) system, through training. The opinion is if the organization has an idea of expansion within the next five years, this is not a feasible option; however, it still is left open as an option.
As a vibrant alternative, the ideal solution would be utilizing the customer relationship management (CRM) platform, which is ideally the procedure that makes PFE towards gathering client data, while examining customer favorites, promotions, and alternative for customer services as well as supporting strategies that attain organizational needs toward reaching desired clients timely — besides, having capacity to analyze results of strategies through overall customer data collected.
Through reading the above-explained options, it would seem viable that the benefits to the organization following the latter most idea of CRM are a clear choice. Included is a diagram of the comparison of items, this should convince the organization that CRM would be the proper channel to follow.
References
Mehta, A. (2016). BI, SCM, CRM, and ERP in a Nutshell and their Relationship. Retrieved from; https://medium.com/@metankit/bi-scm-crm-and-erp-in-a-nutshell-and-their-relationship-32630230cde9
Taylor, J., Roberts, J., Oram, C., Gupta, A., Itani, M., Baroudi, S., & Smith, R. (2015). U.S. Patent No. 8,972,876. Washington, DC: U.S. Patent and Trademark Office.