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Insights to Action: A Finance Leaders Guide

As a finance leader, the significance of understanding your data and business is more critical than ever.   There are daily challenges you may encounter including report accuracy, formulas errors, changes required for viewing a processed report, and most importantly how to leverage all that data to make faster decisions.  In order for a financial professional to focus less on transactional tasks, and enable insights that guide decision-making, you need to acknowledge the demand for improved analytics.  Let’s consider the most useful resource for your finance team.  Everyday your team is busy extracting data, manually blending and analyzing the numbers, and seeking insights. Data can come from everywhere - not just one system such as your ERP or EPM systems.  It can be sourced from various departments, third-party information, Internet of Things (IoT) applications, and numerous other resources within your business. Therefore, the process of uncovering insights across these systems without the right tools can get complicated. It may involve various obstacles from siloed applications and inaccurate reporting. Ultimately, it’s no surprise finance departments are challenged by a series of issues of disconnected data systems and spend a great deal of time on transactional work with their present complex legacy systems. This can create internal friction and a backlog of requests. It also delays you from delivering deeper insights into the numbers and unraveling the stories beneath, predicting scenarios, and potentially changing the outcomes.   How can data and an analytics platform help?  With data and analytics solutions that are designed with the users’ needs in mind, you can easily make more insightful decisions. It takes tools that inspire confidence to answer complex questions. While many finance leaders intend to advance their analytics, most are still focused on getting the technology future-proof. Oracle Cloud enables finance leaders to accelerate their digital transformation. With the combination of  Oracle Cloud Infrastructure (OCI), a next-generation cloud, Oracle Autonomous Database and Oracle Analytics, it offers you and your team a complete suite of tools needed to conduct an analysis. This makes it possible to quickly improve your analysis while reducing cost and complexity. Oracle provides an enterprise data and analytics solution - direct access to operational data in Autonomous Data Warehouse, budget and forecast data in EPM cloud and management in formation in Essbase.  All steps in your data workflow are optimized, so you can connect to internal and external data sources without depending on IT.  The built-in capabilities like machine learning (ML) analytics tools, help to accelerate model building without having team members with a PhD in data science.   The proper technology is pivotal to make sense of your financial reporting. With Oracle Cloud, we provide an integrated solution for Analytics Cloud powered by Oracle Autonomous Data Warehouse for cloud-native applications and enterprise analytics. It offers best-practice key performance indicators (KPIs) and actionable insights driven by advanced analytics.  This solution streamlines data processing so business analysts can gain insight into how to improve the business through best practice content and deep historical analysis across data from multiple sources.  Oracle Analytics can help you improve your data accuracy with a unified view of data, metrics, and insights.  Data is consolidated into a single source of truth, resulting in trustworthy analytics and results. Finance teams can automatically find trends in the data, perform root cause analysis, and model “what if” scenarios.  Oracle’s data and analytics solution facilities real-time insights on any device (including mobile), and allows new projects to start within hours to address impromptu needs.     It’s critical to find a cloud platform solution that not only helps your fi­nance department read between the numbers, but one that enables your peers to find insights within the data across IT, human resources, marketing, and sales. Discover how the right cloud solution can work for your entire business. Find out more on how you can take control of your data and analytics, read our e-book Read Between the Numbers – A finance leader’s guide to go from insights to action  

As a finance leader, the significance of understanding your data and business is more critical than ever.   There are daily challenges you may encounter including report accuracy, formulas errors,...