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Turning Data into Decisions with Augmented Financial Analytics

It's the beginning of the year—a time to hone in on what's really going to make a difference for your company. For today's executives, this often involves leveraging analytics in powerful, predictive, and decisive ways.

  • It means tapping into augmented analytics to ensure that all your company's data insights are augmented by advanced technologies like AI, machine learning, and natural language processing.
  • It means reducing human effort by putting analytics into the hands of business end users.
  • It means integrating analytics into everyday work experiences, and ensuring that analytics fosters collaboration.
  • It means running your analytics on the cloud to create the most seamless experience possible.

Today's CEOs, CIOs, and CFOs want their analytics do more than provide insights. They want analytics to make accurate predictions so they can make better decisions. Only then can executives act in smart, efficient ways as they move the business forward. Information moves fast today, and today's executives need to be able to act quickly as things continually morph and change.

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Answering Questions That Move Your Business Forward

Every analytics use case begins with a question. In the past, executives asked questions that focused on their company's current state of affairs. With descriptive analytics, executives could gain historic and year-over-year metrics.

With the introduction of machine learning, executives could start asking questions about the future of their company. Predictive analytics gave executives a competitive advantage, making it possible for them to prepare for the coming days, months, and years.

Now, we're officially enjoying the age of prescriptive analytics. Not only can we gain a clear sense of what our company is facing today and what it will face tomorrow. We can also turn our data into decisions. We can know what will happen next. We can understand how it will impact our business. And we can even be confident about the steps that we need to take moving forward.

Analytics with No Room for Error

Executives need to make critical decisions every day. Core to relying on their data and analytics is the certainty that their data and analytics are reliable.

Oracle Analytics' technology provides a single version of truth. There's no need for a company to manage maintenance or data transfer. As a result, there's no possibility for human error.

Armed with Augmented Analytics, executives know that they can trust their insights and decisions.

Augmented Analytics for Finance Teams

Within the past 10 years, enterprises have pursued digital transformation and scaled by upgrading their business intelligence systems and analytics platforms. While IT teams have done this successfully, finance and senior management teams have fallen behind. They have moved their data to the cloud and invested in data and analytics teams—hiring data scientists, architects, and analysts to rebuild their analytics architecture in the cloud and to maintain and support it.

But, the work has been time-consuming, costly, and inefficient.

They have faced challenges with enterprise resource planning (ERP), enterprise performance management (EPM) systems, advanced analytics, and decision-making. They have faced difficulties managing legacy systems as well.

Executives have shared their struggles with us. And we've listened to them.

In 2020, we officially welcomed a new era for financial analytics.

Introducing Oracle Analytics for Applications for Fusion ERP

With augmented financial analytics as a core part of Oracle Analytics for Applications for Fusion ERP, executives can now leverage augmented analytics to turn massive amounts of structured and unstructured data into reliable insights driving effective decision-making.

Built on top of the Oracle Autonomous Data Warehouse, augmented financial analytics offers the best of Oracle Analytics. With autonomous extract, transform, and load (ETL) data transfer, augmented analytics, an autonomous data model, and autonomous security, there is no room for human error. Oracle manages everything.

With just a few clicks, Oracle Analytics for Applications for Fusion ERP can be implemented and provide all the information finance teams need at their fingertips—with clear and in-depth ways to view key performance indicators (KPIs) such as payroll cost, revenue, net income, and more.

Oracle Analytics for Applications for Fusion ERP makes it possible for everyone on a finance team to drill down into the metrics that matter most to them and to fully understand them. Oracle Analytics detects changes such as fraud, turnover increases, and revenue decreases then recommend critical actions and decisions. Because Oracle Analytics for Applications for Fusion ERP is completely customizable, additional data sources can be added as needed.

Oracle Analytics for Applications for Fusion ERP was created for executives that need to make critical decisions quickly, efficiently, and based on the best information possible.

With Oracle Analytics for Applications for Fusion ERP, executives can leverage AI and augmented analytics to do what they need to do—and do it better than ever before.

To learn how you can benefit from the Oracle Analytics Cloud, visit Oracle.com/analytics.

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