Blockchains are attractive because their built-in security and trust factors make them useful for almost all business interactions involving organizations and individuals. Blockchains have two basic functions. One is as a method for handling transactions involving property such as land deeds, trademarks or other assets. The second involves exchanges of data such as identities of individuals or businesses, the location of an object at a point in time or weather conditions. All interactions involving property or assets include the transfer of data as well, of course, but some blockchain use cases are informational only.
Topics: Analytics, Business Intelligence, Cloud Computing, data science, Internet of Things, Mobile, Big Data, Data Integration, Data Governance, Data Preparation, digital technology, Digital Marketing, Digital Commerce, Marketing Performance Management, Office of Finance, Operations & Supply Chain
Oracle recently held its second ERP Cloud Summit with industry analysts. The all-day event wasn’t just about ERP. The company covered a range of its business applications, including financial performance management as well as its Adaptive Intelligent Applications. And it wasn’t just about the cloud. After more than a decade of steady developments, ERP systems have begun to change fundamentally, facilitated by the growing availability of new technologies including cloud computing, advanced database architecture, collaboration, user interface design, mobility, analytics and planning. Here are my key takeaways from the event:
Topics: Analytics, data science, Internet of Things, Mobile, Big Data, Data Integration, Machine Learning, Customer Experience, Cognitive Computing, Human Capital Management, HRMS, Digital Marketing, Digital Commerce, Office of Finance, ERP and Continuous Accounting, Financial Performance Management, Operations & Supply Chain, Enterprise Resource Planning, Mobile Marketing Digital Commerce
Business process reengineering was a consulting fashion in the early 1990s that spurred many companies to purchase their first ERP systems. BPR proposes a fundamental redesign of core business processes to achieve substantial improvements in market and customer responsiveness, productivity, cycle times and quality. ERP systems support business process reengineering by guiding the step-by-step execution of the redesigned process to ensure that it is performed consistently. They also automate the handoffs between individuals and departments to accelerate completion of that process.
Topics: Analytics, business intelligence, data science, Internet of Things, Mobile, Big Data, Data Integration, Machine Learning, Customer Experience, Customer Analytics, digital technology, Machine Learning and Cognitive Computing, Wearable Computing, Digital Marketing, Digital Commerce, Office of Finance, Continuous Planning, ERP and Continuous Accounting, Financial Performance Management, Operations & Supply Chain, Enterprise Resource Planning, Sales Planning and Analytics, Cloud Computing
One of the potential benefits of cloud computing to access business applications and data is its potential to improve the situational awareness of executives and managers. By this I mean their understanding of what’s going on outside their company in addition to what’s happening within it. Today people have access to a trove of information about their own company, which is the result of decades of investment in an expanding range of enterprise transaction systems (ERP, CRM and supply chain management, for example) and convenient data stores that make accessing data easier than ever. But although people have access to internal information, most have big gaps in their knowledge about what’s going on in the outside world. Take, for example, market trends, information about a competitor’s, supplier’s or customer’s financials or industry-specific demand forecasts. Our benchmark research shows that while two-thirds of companies are satisfied with their ability to integrate information from standard internal sources, only 39 percent feel that way about reference or competitive data from external sources and 36 percent about text data from social media.
Topics: Business Performance Management (BPM), Cloud Computing, Customer Performance Management (CPM), Data, Data Integration, Data Management, finance, Financial Performance Management (FPM), FPM, Information Management (IM), Operational Performance Management (OPM), Sales Performance Management (SPM), Supply Chain Performance Management (SCPM), Workforce Performance Management (WPM)
IBM this week announced its pending acquisition of the Star Analytics product portfolio. Star Analytics is a privately held company that offers products designed to provide easy access to and integration with Oracle Hyperion data sources. While Star Analytics has a good product and solid references, it has lacked critical mass to support more effective sales and marketing efforts. Star Analytics’ strategic value to IBM lies in its ability to unlock data held in Oracle Essbase multidimensional databases, which is the repository for applications such as Hyperion Enterprise, Financial Management and Planning. It supports IBM’s aim to offer comprehensive business analytics capabilities, which means it must be able to facilitate access to all data sources. Longer term, it enables IBM to compete with Oracle for finance department customers with IBM’s own financial performance management applications. Star Analytics gives IBM a means of fostering relationships with existing users of Hyperion applications and a more graceful migration path to using IBM’s financial, analytics and business intelligence software.
Topics: Analytics, Business Analytics, Business Collaboration, Business Performance Management (BPM), closing, Data Integration, Essbase, Financial Performance Management, Financial Performance Management (FPM), Hyperion, IBM, Information Management (IM), Oracle, Reporting, Star Analytics, TM1
My colleague Mark Smith and I recently chatted with executives of Tidemark, a company in the early stages of providing business analytics for decision-makers. It has a roster of experienced executive talent and solid financial backing. There’s a strategic link with Workday that reflects a common background at the operational and investor levels. As it gets rolling, Tidemark is targeting large and very companies as customers for its cloud-based system for analyzing data. It can automate alerts and enhance operating visibility, collaboratively assess the potential impacts of decisions and support the process of implementing those decisions.
Topics: Analytics, Big Data, Budgeting, Business Analytics, Business Collaboration, Business Intelligence, Business Mobility, Business Performance Management (BPM), Cloud Computing, Customer Performance Management (CPM), Data Governance, Data Integration, Data Warehousing, Financial Performance Management, Financial Performance Management (FPM), GRC, In-Memory Computing, Information Management, Integrated Business Planning, Mobility, Operational Performance Management (OPM), Performance Management, Planning, Predictive Analytics, Risk, Risk Analytics, Sales Performance Management (SPM), Workday, Workforce Performance Management (WPM), Strata+Hadoop, Master Data Management