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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.
122 results
The Imperative of Analytics in the CloudOct 20, 2021 — By Kumar Singh, Research Director, SAPinsider Accelerating Digital Transformation Initiatives Every technology leader knows that the cloud will be a business imperative in the future. The explosion in digitalization, data, and analytics methodologies means that organizations realize that their current on-premises environments are not sustainable from a long-term perspective. And while this contemplation comes from […]
7 minute read
The Three Key Ingredients of Business Analytics SolutionsAug 13, 2021 — Just like marketers have struggled with the question “what does the customer want?” for eternity, analytics leaders have struggled with the question “how to build a data-driven organization?”. It is very clear at this point that the key is to inculcate the culture of data and analytics in the frontline of the organization, making them a breeding ground for citizen analysts and data scientists. But how to attain that objective has been a challenge. Millions have been invested in tools and technologies to become a “data-driven” organization. Though a majority may not admit it, most organizations are far away from becoming one. Despite investing millions in “best-of-breed” tools. So is it not about tools and technologies? It is about the tool. It is the analytics tool that these frontline workers leverage will determine if they end up embracing those tools as the most important arsenal in their toolchest. While analytics tools become more and more powerful and feature rich, many of them still lack three key ingredients that I believe needs to be embedded in a business analytics solution . These three ingredients are:
Intuitive
Interactive
Integrated
In this article, we will review these three key ingredients an analytics tool needs to have to become a significant contributor in your journey to become a data driven organization.
3 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
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
How SAP Analytics Cloud (SAC) aligns with evolving trends in data and analyticsJul 23, 2021 — by Kumar Singh, Research Director, Automation & Analytics, SAPinsider With data rapidly becoming the new currency, we have recently seen an explosion in the number of data and analytics tools in the marketplace. Advances in computing technology, availability of open source programming tools and the exponential increase in the data that organizations generate and […]
4 minute read
Supply Chain Product Innovation With Data and AnalyticsJul 17, 2021 — The pressure to innovate to launch new products and solutions emerged as a top business imperative in the response to the recent SAPinsider survey on the use of data, analytics and automation in supply chain. The survey results intend to help us formulate our storyline for upcoming February research report, Building Resilient and Agile Supply Chains Leveraging Data, Analytics and Automation. The emergence of this specific business driver highlights that data and analytics in supply chain can not only help organizations streamline their supply chains but in some industries, can help launch innovative or new products and services as well. A good example is the logistics and transportation industry. In this article, we discuss how this industry can use data and analytics beyond building efficient logistics and transportation networks.
4 minute read
Automating Monitoring and Control of Warehouse Time StandardsJul 15, 2021 — by Kumar Singh, Research Director, Automation & Analytics, Supply Chain Management, SAPinsider Critical role of time standards in Warehouse operations A warehouse manager can use time standards in a variety of applications and in virtually any type of working environment. Some of these applications are explained below: Estimating Labor requirements Scheduling jobs and workflows […]
2 minute read
Ask the Expert | SAP Solutions for Planning & AnalysisJul 7, 2021 — This interactive session will help you navigate the various Planning & Analysis scenarios supported by different SAP planning solutions. Attend this session to ask the experts about the latest in features, functions, strategy, guidance, and future direction to gain the latest understanding and update on where you are and where you can be in your Planning landscape.
1 minute read
Elevating Insights: Moving Data and Analytics to the CloudJun 15, 2021 — Data management, data warehousing and analytics are all moving to the cloud — and opening up new opportunities. In this interactive session, we’ll address the business imperatives for adapting your data architectures to the platforms of the future, with tips on how to overcome common barriers to successful transitions. We will cover a variety of […]
1 minute read
How analytics changes with SAP S/4HANA and impact to modern data platformMay 27, 2021 — As you transform your business with SAP S/4HANA, the way analytics are handled is going to change. SAP S/4HANA opens insights like never before. A new approach to a modern data platform adds significant value and provides the opportunity to unlock the potential of a SAP S/4HANA transformation.
Attend this comprehensive session to:
-Learn how to perform operation analytics in SAP S/4HANA
-Receive practical tips on how to use advanced analytical capabilities with SAP S/4HANA and other systems
-Understand how to create a modern data platform
1 minute read