DataTerrain consultants are also observing that significant advances in edge computing have made strides towards addressing security concerns of CXOs in the new normal.
PALO ALTO, Calif. (PRWEB) September 30, 2020
Organizations worldwide have been witnessing the accelerated convergence of automation, artificial intelligence, and IoT (Internet of Things) with edge analytics. Prediction and decision making tools have become smarter, augmented by cognitive analytics, and are ready for deployment from Top floor to shop floor. Work from home imperatives due to COVID has redefined the boundaries of offices due to which automation and the ability to process and deliver data and insights to remote workers securely is an immediate need. DataTerrain consultants are also observing that significant advances in edge computing have made strides towards addressing security concerns of CXOs in the new normal. Named as a “visionary” in Gartner’s 2020 magic quadrant for analytics and Business Intelligence, Oracle analytics is on its way to garnering >10% of the global market share.
Increasingly, CXOs have realized that there is enough technical and technological capability available to address their major business problems, and they can benefit from getting their organizations to embrace the possibilities. Therefore, it is no surprise that researchers expect the global Business Intelligence (BI) and analytics market to grow in double-digit percentages to cross $50 Billion by 2025, generating well over 3 million jobs. DataTerrain consultants have observed that Fortune 50 organizations rapidly innovating and accelerating their business transformation in the post-COVID era focus on use cases around BI reporting, self-service BI and business dashboards as their top priorities. CXOs looking for rich functionality and continuously evolving capabilities are increasingly turning to Oracle Analytics to address these needs.
Available on-premise or on the cloud, Oracle Analytics offers a comprehensive solution to enable organizational users to gain intelligent insights by asking any question of any data from various devices. DataTerrain subject matter experts have noted that individuals in an organization can collaborate and share insights with others across departments within the robust, built-in security and governance layer provided by Oracle. Oracle analytics users can set up robust reporting, ad-hoc query, and analysis, OLAP, scorecards, dashboards, visualization, and alerts with the rich end-user experience. Cost optimization is enabled by the service-oriented architecture of Oracle and its ability to integrate with existing IT infrastructure seamlessly.
Oracle Analytics is different due to its Automation, AI, and ML.
Major analyst firms and industry participants like Gartner and DataTerrain note that Oracle’s augmented analytics provides intelligent features leveraging AI and ML to accelerate payback on investments. Some of the significant features highlighted by them include –
- AI/ML with an augmented engine for data preparation and management
- Extensive suite of built-in features for business scenario modeling
- Proactive and personalized insights using mobile analytics
- Enterprise-level performance management and reporting
- Self-service features supporting extensive data visualization
Five examples of the value derived by customers who implemented Oracle analytics are summarized below –
a) £ 1.5 Billion saved by UK’s National Health Service:- Through a multi-year rollout of Oracle Analytics, UK National Health Service (NHS) has made significant strides in reducing fraud, error, and waste within its system. This also improved the effectiveness of medications and treatment provided to the 53 million residents of the UK.
b) An iconic manufacturer of luxury cars and commercial vehicles strengthened AI and BI with human intelligence (HI) to in-depth mine data and predicted potential buyers of its higher-end models. This enabled targeted campaigns that resulted in better conversion rates to improve sales volumes.
c) An American Fortune 500 company that designs, manufactures, and sells data technology products, including storage devices, data center systems, and cloud storage services, eliminated data obsolescence and improved availability of data to its business decision-makers using Oracle Analytics. By reducing data load times from 15 hours to 3 hours, along with other improvements, operational reporting is now available near real-time and analytical reporting is available in 20 minutes.
d) A 130-year-old multinational construction company accelerated time to market for new construction projects by optimizing its global financing process. With the simplified and accelerated processes implemented applying analytics innovation across all areas of its business, better decisions are made regarding environmental factors and sustainability.
e) The largest Electric holding company in the US, operating six utilities across 47 states and Canada, integrates and manages data of over 10 million customers from different internal entities using Oracle Analytics. This has enabled it to provide omnichannel personalized experiences to residential, commercial, business, and industrial customers. With a comprehensive view of customer engagement across all touchpoints using web metrics, funnel metrics, and other analytics applications, decision making, and program management have significantly improved.
Enterprise architects and CIOs call out Oracle’s ease of deployment and ability to integrate with various business and ERP applications as significant factors contributing to successful rollouts. The DataTerrain team sees a strong inclination towards Oracle Analytics as the platform of choice amongst the CXO community. They make the best out of this market inflection point and disrupt their business models by investing in augmented analytics.