Business insights play a crucial role in allowing organizations to make better and informed decisions, thereby aiding them to grow. Insights through data visualization help businesses give a tangible view on the different functional aspects of a given business, thereby giving your organization a better chance of utilizing future opportunities.
The analytics can be used to gain insights into many aspects like measure or calculate the productivity of employees, performances of different departments/regions/product lines, revenue growth, and the overall performance of the entire business. Organizations that are leveraging these insights to identify the strengths and weaknesses of their business and taking actions to correct them are becoming leaders.
However, generating accurate business insights is not an easy undertaking! It requires thorough observation skills, understanding of the business processes, impact of internal and external variables, and being creative, among many other capabilities. Sometimes, even having all the necessary sets of data and skills is not enough if you do not have proper visualization. Moreover, when you try to do analytics manually, there are chances of human error that may be misleading and would lead to wrong observations and adversely affect your judgment for future opportunities and take corrective actions.
Only if there was a solution that could do this job for you! Right? It seems like organizations are in luck because there is a perfect solution to address this issue. Tag along as we decode what this solution is.
What is SAP Analytics Cloud?
SAP Analytics Cloud is the one-of-a-kind Software-as-a-Service (SaaS) with a primary focus on analytics. The platform’s powerful data visualization capabilities help businesses generate meaningful insights by gathering data from different sources within the business. These insights help businesses make better strategic decisions, identify trends within the business, and boost business performance with ease.
To break it down further, SAP Analytics Cloud brings together all the analytical capabilities of SAP, such as planning, business intelligence, predictive analytics, machine learning, and other digital tools under the umbrella of a single cloud-based solution. This enables organizations to facilitate effective analysis and evaluation of data in various new and innovative ways. This reliable solution is known as SAC, an abbreviation of SAP Analytics Cloud.
What sets SAP Analytics Cloud apart from other Analytical Solutions?
There are numerous analytical solutions available in the market, making it difficult to understand the unique offerings of the SAP SAC solution. Well, let us paint a clear picture with some hardline facts.
- String functions: SAC has a unique feature that helps cross-cultural understanding of your dashboard or facilitates creating additional columns within charts and split information at the data visualization level instead of the data source level.
- Integration with Mobile apps: The SAP Analytics Cloud app is optimized to enhance your data set building and visualization experience. You can use swipe gestures to navigate from one tab to another enabling you to view your charts in the full-screen mode making it easier to analyze your charts as a whole.
- Predictive Planning: Predictive Planning helps in 3 key areas, revenue and sales planning, expense and cost planning, and headcount planning. Through predictive planning with SAP Analytics Cloud, you can create smart, scalable, integrated, and trusted models.
- Automating Data Discovery: This unique feature helps in identifying relationships and patterns that cannot be seen through manual discovery. It also helps in identifying key influencers and contributors to the identified KPI being analyzed.
- Amalgamates data from different sources: SAP Analytics Cloud presents a unified front by combining all data from different sources. This centralization of data storage enables decision-makers to get a lightning-fast response and easy access to data concerning any business process.
How does SAP Analytics Cloud help generate Intelligent Business Insights?
Ever since its initial launch in February of 2015, SAP Analytics Cloud has managed to revolutionize the way businesses use, manage, and store their data. With a plethora of smart features that include Smart Insights, Search to Insight, Smart Discovery, and Smart Predict; SAP Analytics Cloud has been helping businesses discover meaningful insights in an augmented manner. In addition, we finally have a solution that has managed to eliminate human errors and bias in analytics.
It is important to understand the fact that the organizations leveraging conventional business intelligence tools are not familiar with data discovery and self-served reporting. Before SAP Analytics Cloud, most of the analytics solutions were still using manual procedures to develop visualizations, filter search, and manage data and information to fit the business requirements. This complicated process can be time-consuming and made it very difficult to detect patterns from different data sets.
SAP SAC: Simplifying Analytics like Never Before!
Let us explain this with the help of an example, suppose a business encounters a drop in the revenue generated by a particular service or product in particular time duration and region. The obvious thing to do in such a situation is to evaluate the data and create visualizations to determine the aspects that led to the revenue drop.
But how many aspects does one measure manually? Without evaluating all the aspects of the product or service, it is almost impossible to narrow down the search and determine the cause leading to the decline. This is where manual processing fails. Even if one manages to evaluate the data manually, there will still be chances of encountering a human error which will mean spilling water over all the effort, hard work, and time spent.
Fortunately, the SAP Analytics Cloud Planning enables us to take an automated approach for data discovery. Not just that, but it also allows us to determine patterns and trends that can otherwise go unnoticed with the manual process. Organizations can also determine the main factors influencing or contributing to the alteration of KPIs in just minutes.
The embedded smart features of SAP Analytics Cloud also leverage the natural language processing capabilities that enable businesses to run analysis based on necessity and generate business insights by simply looking for answers to simple questions asked in common language related to the business. All in all, SAP Analytics Cloud can help businesses reduce the time required to analyze and generate insights considerably. This will help the decision-makers spend less time on generating insights and more time on visualizing high-value business-related activities.
SAP Analytics Cloud can help businesses of all scales and industries to boost their growth with insight-driven decisions. It is just a matter of time before more and more businesses adopt this approach and revolutionizes the entire process of decision-making. With amazing capabilities such as augmented analytics, enterprise planning, and business intelligence, businesses can get access to all of their desired functionalities in a single cloud-based solution.