7 Crucial Business Challenges Solved by SAP Analytics Cloud
SAP Analytics Cloud: 7 proven ways it can help your business
From manufacturing to marketing, businesses worldwide face unforeseen challenges as they continue to meet the impact of the COVID-19 pandemic. Many organizations are accelerating digital transformation, establishing variable cost structures, and implementing agile operations to emerge from the pandemic stronger.
While most companies believe that the pandemic will negatively impact their business, some businesses feel that the consequences will be short-term. Although most firms have been affected by the pandemic, a survey shows that two-thirds of micro firms are severely affected by the crisis than 42% of the large companies.
Amidst this uncertainty, companies must consider how the pandemic’s continuation or return in different regions will impact their recovery strategies. Businesses must face this uncertainty by reassessing assumptions, re-evaluating scenarios, and strengthening their ability to respond.
Read more: 11 Practices Followed by Leaders to Build Resilience and Ensure Rapid Business Recovery
Simply put, now is the time for businesses to focus on supporting critical areas of their business that will help them stay relevant in the new environment and plan new strategies for what’s next.
Critical areas for businesses to focus presently
- Operations and supply chain
- Strategy and branding
- Tax, trade, and regulatory
- Crisis management and response
What can businesses do?
- Leverage their crisis management team to focus on efforts in the wake of the crisis.
- Shift your focus on bringing back employees to work, assess your company’s response efforts to date, and evaluate areas for real-time course corrections.
- Use the insights the crisis has provided to help chalk out better strategies and capitalize on the opportunity for transformation.
SAP Analytics Cloud has changed the way businesses plan their strategies. It is a robust, agile analytics platform that helps firms arrive at faster and improved business decisions. Moreover, it delivers insights that can be used for enhanced decision-making and optimize resources across all processes.
Combining our functional and industry expertise with SAP Analytics Cloud, Fingent top custom software development company, delivers analytics solutions that drive your competitive advantage, reduce costs, and increase revenue.
What is SAP Analytics Cloud?
SAP Analytics Cloud or SAC is one of the best SaaS solutions that combines all the functionalities such as planning, predictive, business intelligence, and more in one user interface. It helps save time and effort while making improved decisions.
SAP Analytics Cloud comes in two modes: Private and Public. As the name suggests, the Private edition hosts only one customer while the Public edition offers multi-tenancy. Also, cost-wise, the public edition is less expensive than the private edition.
Also read: Fingent offers e-Invoicing integration for SAP ERP users in India – Stay compliant with GST India e-Invoicing
Top 7 business challenges solved by SAP Analytics Cloud
1. Planning and consolidating financial strategy in one solution
SAP Analytics Cloud puts together- planning, predictive, Business Intelligence, and augmented analytics competencies into a simple cloud environment that allows you to consolidate your finances, expenses, and revenues at a single source across your whole organization.
2. Discovering useful insights
SAP Analytics Cloud joins hands with machine learning and augmented analytics to help convert insights that deliver value across your business.
Augmented Analytics allows you to explore your data automatically, discover cycles and trends, and identify possible ways to effectively chalk-out your expenses and cost plans. These intelligent insights can be turned into an actionable plan using a personal sandbox environment that helps visualize your performance metrics and simulate potential budget outcomes.
3. Aligning plans across your business
There’s no denying that financial and operational planning is a must when working with multiple teams and stakeholders. SAP Analytics Cloud helps you make smart decisions. It comprises several collaborative enterprise planning tools that allow you to link and align your expense and cost plans across departments such as HR, sales, finance, marketing, IT, and supply chain in real-time. These benefits eliminate the need for sending out unnecessary emails enclosed with irrelevant plans and avoid collaborating without context.
SAP Analytics Cloud allows you to create and assign tasks with the calendar, communicate with your team in real-time with the discussion panel, and collaborate directly on your plans with the data point commenting tool.
4. Improving planning cycles with predictive analysis
Gone are the days of the tedious manual building of your expense forecasts. SAP Analytics Cloud includes exceptional machine learning and predictive analysis technology that can help you build accurate expenses and cost plans much faster.
You can use the predictive features to automate baseline expense planning forecasts based on previous data. You can then monitor plan attainment with real-time, up-to-date predictive forecasts. Its accuracy indicators enable data analysts (without any technical knowledge) to trust the data-driven predictions before including them into their planning process directly.
5. Enhancing strategic business decisions
With SAP Analytics Cloud machine learning technology, you can convert insight into action within seconds. Automated technology helps you avoid agenda-driven and biased decision-making as it provides you with insights that drive your business.
- Search to Insight – Natural language query generates visualizations to answer your questions instantly. Machine learning technology provides you with important trends quickly.
- Smart Insights – Machine learning technology helps you save time and focus more on high-value activities by allowing you to understand the significant contributors of data points without the need to pivot your data manually.
- Smart Discovery – This allows you to identify key influencers and relationships in your data to help you understand how business factors influence performance. Also, it can detect anomalies and help you take corrective measures. With machine learning projection, anyone can simulate the impact of strategic business decisions.
Case study: Automated Integration between SAP SuccessFactors-Employee Central and SAP S/4HANA – Find how Fingent helped the customer gain real-time insights for improved decision-making
6. Data modeling
SAP Analytics Cloud helps you plan and build the right model where your data is stored efficiently. With this end-to-end solution, you can immediately take action and start planning. The data modeling feature allows you to prepare your data for analysis. “Models” and “Stories” are the two key components of SAP Analytics Cloud’s BI function. Models allow you to enhance your data by cleansing, wrangling, establishing hierarchies, defining rules and conditions, and adding formulas. Stories give life to your data by letting you visualize your information through charts and graphs, which will help you gain valuable business insights.
7. End-to-end industry dashboards
SAP Analytics Cloud offers business content packages tailored to individual analytic scenarios. Each package entails aesthetically built dashboards, stories, and data models carefully designed for specific lines of business and end-to-end business scenarios. Also known as Analytics Content Network, this business content library offers tried and tested best practices for leveraging your available data and accelerating your go-live. The content network is customized to work with existing SAP data sources such as SAP S/4HANA or SAP C/4HANA.
Today, businesses need to forecast changes ahead of time. SAP Analytics Cloud helps to anticipate and plan for the impact of the crisis on business. How a business responds to challenging situations determines its strength and potential to recover.
Fingent is an SAP Silver Partner. With our expertise in cloud computing and SAP services, we can support you through this critical time and help stabilize your business operations and strategize for the future. Get in touch with our expert to discuss your requirements.