Companies today are dealing with a mind-boggling amount of data—and the potential buried within can shape-shift dramatically depending on what questions are asked.
Imagine the benefit of using machine-learning technology to tap not only your company’s data but also the massive amount of data and insights stored in the Oracle Data Cloud—a mother lode that includes some 5 billion consumer profiles, a million business profiles, and 45,000 different dimensions.
With Oracle’s new Adaptive Intelligent Applications, that type of power is on the horizon, Rondy Ng, Oracle senior vice president of Applications Development, said during a September 19 presentation at Oracle OpenWorld.
“These applications will help companies learn from behavior and adapt and develop better and better responses as they continue to use the application,” Ng said.
What this technology will provide is the massive advantage of real-time recommendations for different business scenarios. In the finance world, for example, a company might like to be able to negotiate with its suppliers based on its understanding of certain parameters such as the supplier’s performance, the number of outstanding transactions, payment history, the financial health of the supplier, and what others are saying about the supplier’s payment capabilities, he said.
“Oracle’s adaptive intelligent applications will help determine whether to offer discounts dynamically,” Ng said.
The addition of these capabilities to Oracle Enterprise Resource Cloud (Oracle ERP Cloud) will be a boon during critical events like end-of-quarter close, but also in the everyday quest to control costs and cash flow.
Momentum Continues to Grow
Oracle ERP Cloud has gained more than 2,800 customers across 22 industries. According to Ng, many customers have been able to go live “at a pace they never experienced with on-premises, and sometimes in just four to eight months.”
Those customers fall into three general categories:
Reasons for Cloud Move Intensify
Today, companies need far more than transactional systems; they need business insight. Oracle’s strategy of offering a complete suite of applications across multiple functions of ERP as well as for human capital management (HCM), customer experience (CX), and supply chain—and providing customers the flexibility to migrate in a modular fashion or all at once—enables customers to move to cloud in a way most appropriate for their business, Ng said.
One of the big benefits of the cloud is the steady drumbeat of new features and capabilities, delivered in updates every six months.
This fast cadence of releases results in a much closer relationship between Oracle ERP Cloud customers and Oracle’s developers who work on the offering. In addition, Ng said, “our developers are able to monitor usage of the features to understand what people are using—and those areas of heavy traffic and use are where they concentrate to add new capabilities. So the software becomes better and better in ways that are really important to the customer.”