Driving Accurate Predictions with Oracle Cloud Analytics

JUNE 15, 2022 05:00 AM

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What is Cloud Analytics?

Cloud analytics refers to using remote public or private computing resources to analyze data on demand. This trend has gained significant popularity recently as more businesses migrate to the cloud.

Cloud computing analytics enhances business decision-making by streamlining the process of gathering, integrating, analyzing, and presenting data insights to businesses; it also offers several advantages over traditional data storage methods, including scalability, flexibility, and cost-effectiveness. However, with numerous options now available, it can be challenging to determine which one is best suited for your business.

What is Oracle Analytics Cloud?

Oracle Analytics Cloud is a comprehensive business intelligence solution powered by AI, offering robotic reporting and analytics capabilities to businesses of all sizes. Oracle Analytics' best feature is that it combines the convenience of the cloud with accurate predictions and forecasts for data processing and intuitive visualization.

Oracle Analytics Cloud vs the Competition

There is no shortage of options for enterprise cloud data analytics, but when it comes to enterprise cloud applications, Oracle Analytics Cloud (OAC) is in a class of its own. OAC offers a comprehensive set of features and capabilities unmatched by any other solution in the market, as its software is designed to meet a company's broad data analytics and data governance requirements. Here's a quick look at how OAC stacks up against the competition:

Comprehensive set of features: OAC offers a comprehensive set of features for enterprise analytics, including data warehousing, data discovery, reporting, and dashboards. By contrast, other solutions on the market are missing key features, such as data warehousing, or only offer a limited set of features.
Flexible deployment options: OAC can be deployed on-premises, in the cloud, or in a hybrid environment, providing organizations with the flexibility to select the deployment option that best suits their needs.

What are the Benefits of Using the Oracle Analytics Cloud Solution?

Oracle Analytics Cloud is a powerful and versatile tool that enables organizations of all sizes to make informed decisions using real-time insights by consolidating data from multiple sources through advanced features, including machine learning, artificial intelligence, and natural language processing. Other key benefits of using Oracle Analytics Cloud include:

It's built on the Oracle Cloud Platform, which means it benefits from all the security, scalability, and reliability that Oracle Cloud has to offer to adapt to changing needs, so businesses can continue to grow and evolve.
It enables users to easily share data and insights with colleagues and partners, fostering better collaboration with several pre-built data connections and making it easy to connect to all your data sources, both on-premises and in the cloud.

What Features Does Oracle Analytics Cloud Provide?

Now that we've identified how OAC can benefit your business, let's look further into the features that make this possible.

Tailored Responses: Receive personalized responses to queries raised in the customized search feature, which provides user-specific answers to business questions.
Data Trends: While visualizing data, you can also benefit from correlations between data points that are constantly updated.
Conversational Analytics: Utilizing chatbot features, non-technical users can interact closely with data. Enhance data literacy by posing analytical questions using natural language processing (NLP) techniques, such as those that mimic a user's natural language.
What-if modeling: Oracle Essbase is a multidimensional engine that creates complex business models that predict and forecast what-if scenarios.
Collaborative content: Collaboration features enable you to share content in real-time with other employees, contractors, shareholders, and so on, and it is saved alongside the data visualization.
Machine Learning: The system automatically identifies patterns and trends and creates the best data visualization to immerse oneself in to make more informed, fact-driven business decisions using machine learning algorithms. Its predictive analytics capabilities help businesses make forecasts, enabling them to plan for the future.

FAQs

What is Cloud Analytics, and why is it becoming so popular?
Cloud analytics involves using remote computing resources, either public or private, to analyze data on demand. Its popularity stems from its ability to speed up information gathering, integration, analysis, and presentation of data insights. Cloud analytics offers scalability, flexibility, and cost-effectiveness compared to traditional data storage, making it an attractive option for businesses migrating to the cloud.
How does Oracle Analytics Cloud (OAC) compare to other alternatives?
Oracle Analytics Cloud stands out due to its comprehensive feature set, which is tailored to meet a company's broad data analytics and governance needs. Unlike competitors that may lack features like data warehousing or offer limited functionalities, OAC provides a comprehensive suite of enterprise analytics tools. It is also distinguished by its flexible deployment options, which allow organizations to deploy on-premises, in the cloud, or a hybrid environment.
What are the primary benefits of using Oracle Analytics Cloud?
The key benefits of using Oracle Analytics Cloud include improved decision-making through real-time insights derived from consolidated data sources and leveraging features such as machine learning, artificial intelligence, and natural language processing. It also leverages the security, scalability, and reliability of the Oracle Cloud Platform, enabling businesses to adapt to changing needs and support future growth. Furthermore, it allows for easier data and insight sharing among colleagues and partners, fosters better collaboration, and features pre-built data connectors for seamless integration with various data sources.
How can businesses leverage Oracle Analytics Cloud for forecasting and predictive analytics?
Oracle Analytics Cloud leverages machine learning algorithms and the Oracle Essbase multidimensional engine to enable businesses to make forecasts and predictions. Machine learning helps identify patterns and trends in data. At the same time, Essbase is used to create complex business models that predict what-if scenarios, allowing businesses to plan more effectively for the future.
Why should a business consider partnering with an Oracle Cloud advisory and consulting services partner like SMACT Works?
Partnering with an Oracle Certified Partner, such as SMACT Works, ensures that data is most effectively integrated into Oracle Analytics Cloud. SMACT Works can provide Cloud Advisory Services to help businesses understand how OAC can best serve their specific needs and offer Oracle Consultants to execute these services' implementation and ongoing management. This expertise is crucial for maximizing the benefits of OAC.

Concluding Thoughts

Suppose you're looking for a one-stop shop where everything fits together. In that case, Oracle is a better bet right now, as it can be deployed in the cloud or on-premises, making it easier to increase data-driven productivity across any organization. While there are several excellent alternatives, the Oracle Analytics all-in-one platform is undoubtedly one of the best BI tools available, offering a straightforward and intuitive path for businesses to visualize data, generate valuable insights, and make accurate forecasts.

Take Advantage with an Oracle Cloud Advisory & Consulting Services Partner

Partnering with an Oracle Certified Partner to help you better understand the full capabilities of OAC will guarantee your data is integrated within the system most effectively. Whether you're looking for Cloud Advisory on how this product can best serve your business or are ready to hire an Oracle Consultant to execute the services, SMACT Work's team of Oracle experts is here to guide you in the right direction.

About SMACT Works

SMACT Works is a technology-focused systems integrator and IT/ERP consulting firm. We deliver end-to-end consulting, managed, and implementation services for Oracle Cloud Applications, IaaS & PaaS, On-Premise PeopleSoft & EBS Applications. Headquartered in Dublin, OH, we have a global presence with North America and Asia offices. We are an Oracle Gold Partner Cloud Standard, ISO 9001, and 27001 certified delivery organization serving customers with Excellence and Integrity.