Tuesday 1 December 2020

The value of SAP Analytics cloud

Given the pace at which data is being consumed and generated, it is imperative for businesses to make sense of their data – structured and unstructured. While there are a plethora of analytics-related tools available in the market today, there are few tools that can have the impact that SAP Cloud Analytics can have. The SAP Analytics Cloud solution integrates business intelligence, augmented and predictive analytics, and planning capabilities into one cloud environment.

Given the huge volumes of data being produced, it is extremely challenging for enterprises to analyze every bit of data being produced by different functions, and look at the larger picture. Due to its ability to integrate, process, and analyze information on a real-time basis, the SAP Analytics Cloud is extremely valuable in providing insights. A single platform for analytics gives business users the ability to take decisions effectively due to self-service analytics.

An interesting feature called ‘SAP Digital Boardroom’ enables business leaders to understand business insights in a better way, as it presents information graphically and intuitively. This helps business leaders to understand the impact of past decisions, monitor the current trends with respect to changing business dynamics, and use ‘what-if’ scenarios to simulate the future.

Democratizing analytics

The biggest advantage with SAP Analytics Cloud is that users across all functions can learn about the power of intelligent insights. This is made possible by the augmented analytics capabilities. This helps any employee, even untrained ones, to start exploring the power of analytics. Support for conversational analytics, helps users ask questions in a natural way and get instant answers. This frees up the precious time of data scientists for other high-value activities.

Some additional useful features help enterprises to fully capitalize on their data. A ‘Search to Insight’ enables employees to chat with their data using conversational AI and natural language processing. With natural language query (NLQ), employees can search and analyze their data by asking questions. This is an extremely beneficial feature for non-technical people, as it does not require any knowledge of query languages such as SQL or Python. Similarly, the ‘Smart Insights’ feature lets employees dig deeper into their data visualizations without manual effort. For example, with just a click of a button, users can reveal the top contributors behind values and understand the factors contributing to important metrics such as profits or revenues.

Users can also take advantage of the ‘Smart Discovery’ feature, which enables them to use automated machine learning models to reveal relationships and hidden patterns in specific datasets. This feature helps users generate key trends and experiment using ‘What-if’ simulations. Users can also take advantage of the intelligent predictive analytics feature to predict or forecast future scenarios or outcomes. All these initiatives can be undertaken without the help of any data scientist.
By linking and creating planning, financial and operational plans in one solution, you can drive better decisions. A centralized view of data across all lines of business, helps organizations ensure that their strategy and actions are linked closely. Enterprises can also do rapid prototyping by using existing data models to customize or integrate or create new models.

In summary, using SAP Analytics Cloud, you can democratize the usage of analytics by giving the power to analyze for every business user. Most enterprises are data-rich, but insights poor. SAP Analytics Cloud allows enterprises to correct this anomaly and use the power of data to your advantage.

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