By Mina Lim
Country Managing Director, Oracle Philippines
(Last of two parts)
TODAY’S modern business is connected, intelligence-driven and pulls the future forward by harnessing emerging technologies such as social, mobile, analytics, big data, IoT and AI to not only address current market demands but to revolutionize for tomorrow.
In a recent IDC survey, 97 percent of “digitally determined” organizations want fully connected processes across their entire business but in reality, only 5 percent are fully integrated. These organizations (have higher maturity in their modernization efforts) cited benefits around revenue, efficiency, and operational insights when connected processes are put into practice.
Functional and data silos of the past simply cannot support a modern business. Today, every business process needs to be connected and the power of the organization’s data unlocked to flow seamlessly through end-to-end transactions.
The benefits of a unified ERP and HCM Cloud have never been clearer. With connected and scalable Modern Best Practice processes that leverage next-generation technologies, and that are built into Oracle’s ERP Cloud and HCM Cloud, organizations can quickly become the transformative and collaborative business of today and the agile and innovative business of the future.
Data is flooding in from various sources–mobile, computers, servers, wearables, and IoT devices–leading to a rise in unstructured data. Add to that the changing regulations, most businesses are unable to process and analyze all the information that is available to them.
As a result, they often make critical decisions relying only on subsets of data and missing out on potential growth opportunities.
This is where prebuilt analytics applications come in–the next big wave of innovation for analytics and business intelligence. These are role-based applications that deliver insights in the context of a business person’s role and they include both in-the-moment metrics as well as forward-looking KPIs.
In the past, IT was tasked with providing the data and analyses the lines of business needed to answer their questions, but the process took time and effort–often too much time and effort. Today, business analysts have taken the lead with self-service business intelligence (BI) tools to perform their own analyses. But, they still have to find the data, cleanse it, and mash it with other sources of data before they can even begin to answer questions they know about, never mind the ones they haven’t even thought of yet.
The future of analytics is self-service access to intelligent insights. By leveraging embedded ML and integrating analytics, intelligent insights present the right information to the right people, at the right time, using a device of choice.
So what are the key takeaways that can be derived from this? A comprehensive and integrated strategy for leveraging data is a key driver for business growth for organizations looking to excel in today’s data-driven economy. With a comprehensive strategy in place, organizations can look forward to unlocking endless possibilities that can positively impact their business, employee and customer experience as well as be empowered to do their best to positively impact their communities.
