ERP know as Enterprise Resource Planning is an IT implementation that connects the business units. It is an Information Technology term referring to a hardware or software system that serves all departments within an enterprise.
Mostly ERPs are multilungual systems that can serve global enterprises where the users in different countries, these systems can also integrate the tax issues and currency rates related to different countries.
The ERP is mostly generated from the term MRP but it can serve much more than MRP which is related with production department. It has financial, human resources, marketing, customer relationship management and many more aspects.
All ERP implementations are not successfull in fact the success ratio is around 60%
There are mainly four types of ERP systems.
1) Major ones
You have to pay license fees and most probably some consultinf fees for implementations related to this type, you should also have the appropriate infrastructure. These vendors are Oracle, SAP, People soft, etc. Major players have higher support, more professional(less failures) but more costly.
As well as the major ones you have to pay licencing, consulting fees and for infrastructure. These are smaller vendors that are newer to business. These are cheaper, mostly specialized but less support
3) Open-source ones
These are license free ones where you can easily access the code and customize according to your needs, you may have no consultancy or available if you only pay for it. You still need some infrastructure.
4) On-demand systems
These systems have the advantege which you don’t have massive infrastructure needed for implementation since all the application runs online.
Data warehouse is the common term for all ERP systems, where all the data is stored and accessed from datawarehouse. Datamining is the consept where you access to data warehouse collect the related data that you need for your application or forecast calculations.