- June 6, 2018
- Posted by: Jim Kromer
- Category: Uncategorized
PARC Consulting’s Neal Cawi will be presenting at this year’s KScope conference in Walt Disney World. During his talk, Let your EPM Cloud users embrace the virtue of Laziness through Analytics, he will focus on why being lazy can actually be a good thing.
‘Work Smarter, not harder’ and ‘Do more with less’ have been continual themes across all industries and all eras. The current buzz around Big Data and Advanced Analytics has brought a wider audience for many of the techniques that EPM developers have been using for decades. This presentation will show how to streamline many common financial processes utilizing many of the Oracle EPM Cloud products such as EPBCS, EPRCS, OAC and soon EDMCS.
Specifically discussed are:
Data Governance – as data explodes it becomes crucial to have a handle on your information. Small issues within a small dataset can be corrected by a single individual. A small issue within a large data lake becomes a huge problem. We will make the case for the improved accuracy and timesaving enjoyed after implementing a strong data and metadata governance process within an organization.
Machine Learning – A central repository of assumptions and drivers allows for planners to easily modify budgets and forecasts. Machine learning can extend this to dynamically adjust assumption levels to reflect the thresholds that analysts are investigating within actuals.
Data Visualization – A picture is worth a thousand words. Building a dashboard when you have a thousand accounts can be challenging. Best practices for identifying what should be in and just as important, what should not be in your dashboards will be shown. Additionally included will be techniques for self-service data visualization within EPBCS.
Descriptive Analytics – There are many analysts whom spend the majority of their month producing the monthly report package. We will show how EPRCS can simplify this task. Next we’ll illustrate how companies have leveraged information in external systems to explain discrepancies.
Predictive Analytics – The heart of any planning application is determining future results. Using a retailer’s seasonality model we’ll show how to include statistical models along with external data sources within Essbase to refine your planning process.