Real-Time Data Processing in ERP Systems: Benefits and Challenges

Abstract

Enterprise Resource Planning (ERP) systems are very necessary, and it is only important to find how real-time data processing can be used to handle business processes more efficiently. ERP combines all disparate business functions into one system, combining finance, supply chain, and customer service to coordinate department activities and performance. Timely insights from real-time data processing help companies make informed decisions about operational efficiency. This involves how real-time data is utilized to support Multi-Domain Master Data Management (MDM) to ensure the Data is accurate and consistent across Domains such as customers and product SVC providers. This real-time synchronization removes the differences among departments and errors in decisions and execution of operations. The article also discusses the advantages of Data Quality as a Service (DaaS). It automates data cleansing, validation, and error resolution so the data stays in good shape. It illuminates the business of data latency, challenges to real-time processing, and the scope and level of security. Advanced data streaming technologies and cloud platforms are used to overcome these challenges, and solutions are discussed. The article also considers AI, machine learning, edge computing, and 5G technology in the future, which will power the next round of ERP real-time data processing. In the fast-changing data-driven market, the competitive edge comes about from the real-time processing of the data.