Announcing the General Availability of PeopleSoft In-Memory Project Discovery – The Key to Tapping the Potential of Unstructured Data
By Mark Rosenberg on Aug 27, 2013
We recently launched a new analytical application focused on enabling project-driven organizations to answer complex questions that until now were all but impossible to address even with the latest business intelligence tools and technologies.
The new application, called PeopleSoft In-Memory Project Discovery, is a true example of an Oracle Engineered System in that we have architected a business solution that takes advantage of the latest Oracle Middleware and Hardware to accomplish something that would otherwise be too complex, expensive, and risky for almost any other organization to attempt to build on its own. By leveraging Oracle’s Endeca Information Discovery business intelligence technology and Oracle’s Exalytics hardware for high-performance analysis, we have built a dashboard-focused interface over the PeopleSoft Projects suite to give project-oriented executives and managers the ability to correlate structured project and resource data with associated unstructured data. Okay, I know: that sounds rather mundane. So, to illustrate why this is “much more than just another BI dashboard,” let’s take a look at an example.
Imagine that you are the Vice President of facilities at a multi-campus university, and you read in the morning news that one of the subcontractors performing work for the school has been charged with defrauding customers by installing defective fire suppression systems. You know there have been a number of these systems installed throughout the university’s buildings, but unless you have your staff manually read through every project-related contract entered during the past three years, you literally have no way of knowing which projects might have exposure to these defective systems, how much was spent on these systems, and when they were installed. This situation leaves your university exposed to significant legal, financial, and safety risks every day until it is remediated. The inability to relate unstructured data (such as clauses in your contracts, text in your contract attachments, and so on) to volumes of structured data (such as project locations, project financial figures, purchase orders, and so on) is the barrier to eliminating these risks.
Figure 1. The Untapped Potential: Correlating Unstructured Project and Resource Data with Structured, Transaction Data
With the power of PeopleSoft In-Memory Project Discovery, however, you can mine project artifacts and deliver answers to your complex problem in seconds. By typing a few keywords into PeopleSoft In-Memory Project Discovery, you can learn where the defective systems were implemented and eliminate the costs that the university would otherwise incur for staff or temporary workers to pore over text related to your projects and could immediately mitigate the legal, financial, and safety risks associated with the subcontractor’s work. You could identify for the university all of the exposure to the defective fire suppression systems, draw up and institute remediation plans within hours, and immediately begin implementation of the plans to eliminate the risks. Pretty remarkable, wouldn’t you say? (Note that this scenario is just one example of what the application can do. There are many other high-impact scenarios to which you can apply the tool, such as using it to drive more profitable staffing decisions in a professional services organization. The whitepaper listed below can help you learn more about other scenarios.)
You can think of PeopleSoft In-Memory Project Discovery as a tool that enables you to unlock the value trapped in unstructured project and resource data, visualize that project and resource data as actionable information, and tighten your project financial controls at unprecedented speeds. It offers the ability to analyze project and resource transaction data based on data stored in related documents and other unstructured formats. A user types keywords, and the application immediately treats those keywords it finds in documents as reporting dimensions by which you can filter your project and resource information. The application also provides you the ability to view project and resource metrics changing in real-time as structured and unstructured data filters are applied and you close in on the answers you need to make informed decisions. The PeopleSoft In-Memory Project Discovery dashboards come with pre-configured alerts (which you can personalize) for key exceptions, such as budget overages, to draw your attention to important issues before they become problems and enables you to save sets of filters which you may want to apply to your data on a recurring basis.
Figure 2. PeopleSoft In-Memory Project Discovery to Correlate Your Unstructured Projects Content with Your Project Transaction Data
As of today, PeopleSoft In-Memory Project Discovery taps into data residing in PeopleSoft Project Costing, PeopleSoft Resource Management, and PeopleSoft Program Management. If you’d like to learn more about the application and how it can not only help you answer perplexing questions but also give you a strategic advantage to drive more profitable operations, please take a look at the whitepaper, video feature overview, press release, and datasheet; contact your Oracle Application Sales Manager; or contact us by emailing Roxanne.Johnson@oracle.com or Mark.Rosenberg@oracle.com.