ERP: Emerging Trends, Business Intelligence and Future Insight

Abstract

An ERP stands for enterprise resource planning and it is used to perform daily operations carried out in an organization on daily basis.An ERP does all the jobs, an organization needs i.e. storing information,processing information & implementing constraints on data accessed.Moreover an ERP takes care of the data security up to some extent by denying unauthorized access. Main idea is to gather information at one place & provide ease for access on a wider scale. In comparison to scattered database stored in the form of excel files, ERP maintains a standard platform for storing information in an in organized and meaningfulway. An organization can rely on the accuracy, security&correctness of data being used by the employees over a certain period. Also the day to day data remains in a consistent state by maintaining the integrity.Impact of ERP systems cannot be ignored in today’s time as small or big business organizations rely heavily on these systems.Business owners want their business to go systematic and organized & hence they prefer a platform where they can store,retrieve and process their information in a secured way.Unlike spreadsheets ERP systems are fully functional,interactive,time saving and logical.Further these systems are used for making future strategies by analyzing the historical data that is stored in the ERP databases.Therefore this paper is an insight into the ERP as a wholesome system for the new generation business,emerging trends in ERP like artificial intelligence & ERP,IOT & ERP,ERP future analysis & impact.