Heard of the phrase “Knowledge is power”? Correct knowledge can help you overpower enemies and win a battle.
Similarly, a relevant data pool is critical in making or breaking an organization. Organizations of all sizes rely on data to plan and execute their business growth strategies. Is accumulating data enough to grow the business? If not, then what’s next?
The next and most vital step is to analyze the data to come to a conclusion and drive better results. Strong data analysis enables businesses to reach and communicate with the audience effectively. Oracle, a leading global SaaS company, developed an analytics tool to ease the process.
What is Oracle Analytics Cloud?
Oracle Analytics Cloud, also known as OAC, is a cloud-based software system that provides a comprehensive suite of analytics tools for data visualization, self-service analytics, data preparation, and predictive analytics.
OAC allows organizations to create a single data source by consolidating data from various sources, such as cloud databases, on-premises databases, spreadsheets, etc., to provide real-time insights. In addition, the system uses advanced analytics capabilities such as machine learning, natural language processing, and augmented analytics.
That’s not it! Oracle Analytics Cloud allows users to create interactive dashboards, reports, and visualizations to explore and analyze their data. It also supports collaboration within teams and across departments. Another best part is that OAC is accessible anywhere with an internet connection, making it a flexible and scalable solution for organizations of all sizes.
Boost your Business with Oracle Analytics Cloud
While there are many ways by which Oracle Analytics Cloud boosts your business. We picked and created a compiled list of the top few!
- Better Decision-Making: Analytics allows managers to use valuable real-time insights that help businesses make data-driven decisions. When managers have all the real-time data, making an informed decision with the latest trends in mind becomes simpler. Other than market trends, it allows them to study customer behavior and other key performance indicators that help them make informed decisions.
- Improved Efficiency: It is inevitable to face challenges in a business. However, identifying bottlenecks in working processes and streamlining operations makes a difference in success and failure. Oracle Analytics Cloud provides comprehensive data analysis and helps companies to improve efficiency.
- Competitive Advantage: It’s no secret that we are in a highly competitive and rapidly changing environment. Therefore, it becomes necessary for businesses to find ways to gain a competitive advantage. Oracle Analytics can help identify new opportunities and trends before their competitors and give a much-needed head start in the market.
- Customer Insights: Analytics lets managers procure real-time insights into customer behavior and helps professionals understand their preferences and requirements. It allows businesses to tailor their products and services to meet customers’ demands better and boost the business by improving customer satisfaction.
- Cost Savings: Analytics enables businesses to identify the lacking areas in the money flow. It helps them optimize spending, reduce costs wherever possible and make cost-efficient decisions.
- Customer Sentiment: Consumer sentiments play a crucial role in many businesses’ downfall or rise in sales. As scary as it might sound, it is an excellent opportunity for businesses to tap into the pool of sentiments freely expressed on social media platforms and sync product marketing to adjust with the sentiment to boost sales.
- Risk Mitigation: Identifying potential risks is crucial for all businesses. Efficient and timely analysis of data helps identify these risks and take steps to prevent them from becoming significant problems. Oracle Analytics enables organizations to do just that. It identifies and mitigates risks.
- Supply Chain Optimization: Data Analytics is a proven tool to forecast and predict demand and plan future stock requirements in advance. Based on past purchase cycles, it also enables fast deliveries. Many delivery giants use these tools to optimize their service and increase customer satisfaction.
- Real-Time Monitoring: In a fast-paced environment where trends can change anytime, real-time analysis of the key performance indicators (KPIs) is a blessing. Real-time monitoring helps organizations stay up-to-date, make fast decisions, and respond quickly, as required, to keep up with market trends and customer behavior.
- Improved Marketing: As we all know, marketing gives life to a business. Oracle Analytics Cloud helps marketers study the market efficiently, identify the most effective channels, improvise, and improve their strategies to increase engagement and conversion rates. Analyzing data allows them to reach the right audience and convey the right message at the right time.
- Better Forecasting: This Oracle Cloud also provides insights into future trends and demand with the help of present and past data. It helps businesses improve their forecasting and accurately predict future sales, revenue, and market trends.
- Increased Revenue: Apart from optimizing and improving business, identifying new opportunities is essential to increase revenue. With the help of Analytics, companies can identify areas where they can increase sales, improve pricing, or even expand into new markets domestically and internationally.
Conclusion
Oracle Analytics Cloud is a powerful cloud-based analytics platform that enables organizations to gain insights from their data through a comprehensive suite of analytics tools and advanced analytics capabilities. As a result, it allows businesses to create a significant difference in their business by enabling better decision-making, improved efficiency, competitive advantage, customer insights, cost savings, customer sentiment, risk mitigation, supply chain optimization, real-time monitoring, improved marketing, and better forecasting.
Reach out to an experienced IT System Integrator like Tangenz, an Oracle Preferred Partner, to learn more about Oracle Analytics Cloud and its implementation assistance.
