Businesses from different industries are getting competitive every day. They now rely on automation and intelligence to thrive and survive in this aggressive environment. Most business operations are carried out by different types of software and solutions tackling different problems faced by businesses in modern times.
SAP offers a suite of software and solutions that help businesses in streamlining their operations. One of the most effective reporting and analytical solutions offered is the SAP Analytics Cloud, also known as SAC. The functionalities provided in this platform are predictive analysis, business intelligence, and planning. The central structures of the solution are called models, later divided into two categories namely: planning and analytics.
Interested in learning about what SAP Analytics Cloud can do for businesses? Let’s walk through the ways SAP Analytics Cloud can help businesses make better and faster strategic decisions.
SAP Analytics Cloud and How it can drive better strategic decisions?
As one of the leading Software-as-a-Solution platforms based on cloud, SAP Analytics Cloud provides businesses with overall analytics concerning their business transactions and processes. These insights help users make better business-related decisions and secure the future of their business. With the right set of features and functionalities SAP Analytics Cloud can empower businesses in many ways:
- Clear and Understandable Insights: Businesses in the modern age rely heavily on predictive analysis and business intelligence to make better decisions through this solution. These insights help in identifying patterns and trends. The secured data is then used to make better plans and decisions, which further drive better utilization of business resources. It also helps users measure their performance metrics and even determine the predicted outcomes.
- Promotes better leadership: SAP Analytics Cloud can benefit businesses in numerous ways. However, the top leadership can access data and insights that give them the overall view of the entire organization, allowing them to make better decisions.
The easy to comprehend reports and insights provided by this solution help decision-makers visualize and understand the information with more clarity. This saves both money and time by tracking the analytics of parameters like budgets, financial reports, risk analysis, effective planning of the capital, and more. SAP Analytics Cloud therefore also facilitates efficient collaboration among different teams.
- A comprehensive solution for unified financial strategies: SAP Analytics Cloud helps organizations in bringing financial reports from different departments and merges them into a single comprehensive overview of all reports.
The results depict both revenues and expenditures of the business, allowing a simplified evaluation of information thereby simplifying processes for decision-makers. This single point in the solution brings together the capabilities of predictive analysis, business intelligence, and planning and puts them all under one roof of the cloud storage system.
- Enable quick decisions with augmented analytics: Technologies such as conversational artificial intelligence and natural language processing are used by the SAP Analytics Cloud. These technologies enable the solution to determine vital trends in minutes and help visualize the information affecting the future of the organization.
Augmented analytics can be used to determine key factors that affect the business directly or indirectly. It helps to evaluate the impact of changes made in strategies on the business with the machine learning technology. It also helps get access to valuable insights in no time and forecast the future of the business and identify risks while taking measures to mitigate their adverse effects.
- Define and analyze data requirements with best-in-class data modeling: Store all business-related data safely by planning and developing the perfect data model. Develop strategies and make quick decisions with the extraordinary functionalities offered by the SAP Analytics Cloud.
The two most important characteristics of the business intelligence aspect of this solution are ‘stories’ and ‘models’. The stories can help users visualize the information by animating the entire data and making it easy to comprehend. Whereas, models are useful for simplifying complicated calculations and improving the data by defining hierarchies, adding formulas, wrangling, establishing conditions and regulations, and cleansing the data.
- Simulate and predict future outcomes and performances: The machine learning technology used by the SAP Analytics Cloud enhances the analytic processes and provides users with actionable insights in a couple of seconds. One of the best things about SAP Analytics Cloud is that it allows users to ask questions related to data in natural language.
The solution then instantly provides users with an easy to comprehend visual rendering. SAP Analytics Cloud automatically updates the time series forecasts as more and more new information is added to the system. These forecasts and predictions help businesses to easily evaluate future projections and minimize any potential risks.
- Easy management of information: Information of different sorts is produced at different levels in an organization. This makes it very difficult to manage these bits and pieces of information and make sense out of it. SAP Analytics Cloud runs on the in-memory database of SAP HANA which enables the solution to process, integrate and analyze information in real-time and generates valuable insights for the business.
With the capabilities of predictive analytics technology, users can make decisions with ease. This information can then be accessed by anyone within the organization to keep them aware of the decisions.
SAP Analytics Cloud can be very beneficial for businesses in the present era. The solution can help organizations foresee the future and make quick decisions in the best interest of the company. SAP Analytics Cloud planning tools help businesses enhance collaboration and update predictions throughout different departments in the organization. But choosing the right SAP Cloud platform is not an easy task which is why it is recommended to consult an SAP consulting company like Accely before making a final decision.