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Analytics pertains to leveraging data generated and captured across the organization to generate insights that can help transform the way organizations run. Analytics can also help build capabilities that can automate many aspects of day-to-day decision making that is currently performed manually. There are three main categories of analytics leveraged in organizations today:
Business Intelligence (BI)
Analytics pertains to leveraging data generated and captured across the organization to generate insights that can help transform the way organizations run. Analytics can also help build capabilities that can automate many aspects of day-to-day decision making that is currently performed manually. There are three main categories of analytics leveraged in organizations today:
Business Intelligence (BI)
The end-to-end process of BI involves analyzing the data generated by businesses, transforming the data into insights, and leveraging those insights to make optimal decisions. BI tools primarily leverage “descriptive analytics,” because these tools traditionally focus on analyzing current and historical performance based on data generated by the enterprise.
Machine Learning
Machine learning (ML) is a subset of artificial intelligence (AI) algorithms. The differentiating aspect of these algorithms is that they can learn from the input data and modify the model based on changes in that data. It is this “learning” aspect that makes these algorithms powerful.
Artificial Intelligence
In simple terms, Artificial Intelligence (AI) refers to systems or solutions that can replicate human decision-making capabilities. These solutions often leverage a combination of software and hardware to mimic human capabilities like problem -solving and decision making
Key Considerations for SAPinsiders
SAP applications leverage AI and ML algorithms extensively to either embed innovative capabilities within their solutions, help end-users perform advanced analytics with minimal technical proficiency, or allow data scientists and ML engineers to build advanced ML models and solutions. SAP HANA has been designed to be easily leveraged as a scalable ML platform. A powerful tool built into SAP HANA is the Predictive Analytics Library (PAL).
SAP Data Intelligence has a rich ML content library. Like most best-of-breed analytics tools, SAP Analytics Cloud provides users the ability to leverage advanced Machine Learning (ML) algorithms. While ML algorithms have many applications, predictive analytics remains a key one.
On the business processes side, SAP AI offerings promise to infuse transformative intelligence to all key business processes areas like lead to cash, design to operate, source to pay and recruit to retire. AI algorithms help include innovative features across all these processes.
121 results
Leveraging Data Connection Gateways to Harness Full Value from Analytics InvestmentsJul 23, 2021 — By Kumar Singh, Research Director, Automation & Analytics, SAPinsider The critical role of analytics in digital transformation Organizations today are rapidly evolving into mathematical corporations, driven by analytics and technology. Fueled by an explosion in data, they are making strategic as well as day-to-day decisions based on insights generated by this data. Hence, it […]
7 minute read
Analytics for Continuous Performance ManagementOct 23, 2017 — Organizations can benefit from replacing the traditional annual performance review process with a continuous performance culture. Users of SAP SuccessFactors continuous performance management functionality can generate reports and tiles to monitor the use and effectiveness of the solution in the organization. Key Concept Annual performance reviews hold employees accountable for their past performance rather than […]
26 minute read
8 Simple Steps for Creating a Successful Dashboard (Part 1): An OverviewJul 21, 2016 — Increasingly, business users are requesting that dashboard designers provide compelling data visualizations that outline the overall situation of a company, while at the same time demanding that this be done more quickly. This leaves less time to gather the requirements, come up with the correct data, and develop a great design. Learn how to streamline […]
11 minute read
How to Simplify Access to Analytics for EveryoneMar 9, 2020 — Simply migrating to the cloud is no longer enough—companies must be familiar with cloud analytics in order to extract meaningful information from massive volumes of data. For companies beginning their cloud analytics journey with an existing SAP BusinessObjects BI deployment, the author of this article recommends taking a hybrid approach to integrate SAP Analytics Cloud with your existing SAP BusinessObjects BI system. You will also learn how to leverage existing assets from the on-premise BI solution.
After reading this article you will be able to:
- List the benefits of using a hybrid approach;
- Understand additional capabilities that will be available when taking a hybrid approach due to the release of SAP BusinessObjects BI platform 4.3; and
- See how SAP Analytics Hub and SAP Analytics Catalog can improve user experience.
6 minute read
Financial Analytics as a Strategic Business AssetJul 30, 2021 — A curiosity is driving finance leaders to learn how automation, artificial intelligence (AI), and machine learning can elevate the finance function and with it, the company’s entire analytics strategy. At the heart of this desire is data. This article explores how modernization and financial analytics can work together to help the finance department deliver value to the business in new ways and what’s required to unlock opportunities in this space.
Mayank Sinha, Senior Director Solutions & Value Engineering at Qlik, suggests that one of the keys to business acceleration is being able to quickly and easily access data, “and not just SAP data, but SAP data combined with data across the enterprise, such as e-commerce or other Internet of Things (IoT) devices.” By integrating data from multiple systems and sources that support the order-to-cash process, the business can gain a clear view of where to focus, whether it is booking or fulfilling orders faster or receiving customer payments sooner.
With that knowledge coming from the finance function, the company could improve on key measures like days sales outstanding and potentially unlock significant cash, which might be sitting in working capital. According to Sinha, “the best finance leaders are using financial data and analytics to drive business transformation, monetize data for growth, or provide financial governance in the new digital economy.”
Read this article and learn:
- What is shaping the finance function, how finance professionals can enable the business through data-driven insights, and the technologies that support world-class financial analytics.
- How finance leaders are using data and analytics to drive business transformation.
- The importance of employing data analytics and AI to elevate your financial department’s value.
9 minute read
Advanced Analytics in SAP and Hybrid EnvironmentsJan 15, 2021 — As Business Intelligence and reporting capabilities mature and get commoditized, organizations are increasingly looking to leverage more advanced analytics approaches. Both SAP as well as third party vendors offer a plethora of advanced analytics capabilities that leverage AI and Machine Learning algorithms. These sessions will help you understand how to leverage advanced analytics tools and technologies in a cloud environment. You will also explore how to use advanced analytics going beyond what you using do in these three areas: descriptive, prescriptive and predictive analytics – as well as using machine learning and AI in your analytics strategy.
2 minute read
A Detailed Look at the Latest SAP Analytics Strategy and RoadmapJan 6, 2022 — This session will explore the latest SAP Analytics strategy, how it is set up, and how it aligns to SAP’s corporate strategy and Rise with SAP. You will examine what is in store for SAP Analytics Cloud and how the future direction will impact BI, planning, and augmented analytics. Learn about planned innovations and come away with a solid understanding of the functionalities and features you can expect in coming releases of SAP Analytics Cloud. You will also understand how you can gain greater analytics capabilities by leveraging SAP BusinessObjects BI and SAP Analytics Cloud together.
Key takeaways:
• Understand the strategic directions and areas of investment related to SAP Analytics
• Get an overview of the key capabilities and identify scenarios ideally suited for SAP Analytics Cloud with SAP S/4HANA
• Understand the value of combining modern BI, augmented analytics, and planning capabilities of SAP Analytics Cloud with SAP BusinessObjects BI
1 minute read
Climbing the FP&A maturity curveOct 20, 2020 — With the advanced of analytics, automation, and intelligent technologies, businesses more than ever have a significant opportunity to significantly improve financial planning and analysis. But with all the choices and opportunities, the first steps and decisions often seem daunting. This session will help you:
•Understand what technologies and solutions stand to have the greatest impact on FP&A and how you need to evaluate them
•Prioritize financial planning and reporting processes that are the best candidates for applying intelligence, analytics, or automation
•Prepare for the change management challenges of applying new technology to traditional planning processes
•Know how you can measure the success and spread the learnings of initial pilot projects
1 minute read
SAPinsider 2022 Vegas : Data & Analytics Session ThemesAug 4, 2022 — SAPinsider events have been the most widely attended, independent networking and knowledge-sharing events in the SAP technology ecosystem for decades. After taking a hiatus from in-person events for a couple of years, due to the pandemic, SAPinsider was back with a bang this year. SAPinsider 2022 saw 3000+ members in attendance in Vegas in July 2022. As always, the amount of knowledge shared in the sessions was enormous. While the data and analytics track had 20+ sessions, each session was unique and informative in its own way. However, at a high level, we saw that sessions were following a few key themes this year. We explore those themes in this article.
3 minute read