ERP cloud analytics will come of age in 2020. Oracle hits the ground running15th January 2020,
2020 will be the year that cloud analytics comes of age. Why? Well, the combination of software innovation and cloud computing power means that analytics will be an essential part of any ERP package. The major vendors; SAP, Microsoft, Infor and Oracle know they need analytics to win sales.
Oracle will hit the ground running with Oracle Analytics for Applications, enabling customers to monitor and improve their business performance while aligning decisions with data across the whole company.
Here we look at the background to analytics’ success, the recent Oracle product announcements and predict what’s coming next.
2020 the year of analytics
Business leaders are no longer interested in reporting on what happened. Analytics gives them the opportunity to predict what’s coming. Today’s ERP analytics packages offer 3 compelling advantages:
– Self-service analytics allows business leaders to visualise their data without depending on a data specialist.
– Cloud technology brings access and cost benefits, but also performance. Cloud will always outperform an on-premise solution. Slow access means data may even be out of date by the time it has been visualised.
– Predictive analytics allows business users to interact with the data. Machine learning, in combination with big data, allows them to define “what if” scenarios and create insights into future possibilities. They can then drill down for more detail and drive the analysis with further responses.
It’s not all about self-service, however. As we will see, there are plenty of opportunities for skilled individuals, just searching for Infor M3 jobs will confirm this.
Oracle hits the ground running
Oracle Analytics for Applications (OAX) has been designed to complement its Oracle ERP Cloud package. It is powered by a highly advanced analytics platform, Oracle Analytics Cloud. It features an autonomous data warehouse with out of the box data pipeline and data model. Pre-defined KPI’s are included to illustrate best practice.
The autonomous database is fully managed, optimised and tuned for the workloads from data warehousing and transaction processing. It delivers a comprehensive cloud solution that is fast, easy and elastic. It will scale in response to data and events so it will always deliver excellent performance on queries with no administrative effort.
Coupling the database with a pre-built data pipeline and data models means that IT doesn’t need to spend time on database design, data modelling or tuning. Skilled technical staff can focus on building applications that enable business users to gain the maximum benefit.
OAX is a new incarnation of Oracle’s former BIApps product, although fully redesigned for the new ERP apps. It continues this heritage by including pre-built functions for Extract, Transform and Load (ETL) to build the warehouse from transactional data.
It includes ready-to-use analytics features such as BI server metadata (RPD) to manage the analytics dashboards. This defines logical and physical schemas, mappings and table navigation information. RPD, in turn, supports out of the box UI content such as dashboards, analysis and KPIs.
OAX is highly extensible, allowing tailoring or re-working of the out-of-the-box content, extending the catalogue and semantic model or bringing in additional datasets.
What’s that coming over the hill? It’s prescriptive analytics
Looking beyond 2020, the next major breakthrough will be prescriptive analytics. This is known as the “final frontier” and uses mathematics and computational science to not only anticipate what will happen and when but even more importantly, why.
Prescriptive analytics will reshape decision-making by suggesting options on taking advantage of a future business opportunity or mitigating a risk and visualising the implications of each choice. Accuracy will continue to improve as the application takes in new data.
A career in ERP analytics
Oracle is only one of the major ERP vendors. It’s a great time to look for Infor M3 jobs for specialists in Infor M3 Analytics with M3 Cloud. Look out for product announcements from Infor, SAP and Microsoft in the near future. It’s an exciting time to build a career in ERP analytics.