“That’s why we’re embedding analytics in our entire solution suite”, says TK Anand, senior vice-president, Oracle Analytics. “We’re the trusted standard in data management, having securely managed the bulk of the world’s information for 40 years and counting,” he tells Sudhir Chowdhary in a recent interview.
With rapid advancements in analytics technology, businesses are creating new opportunities to capitalise on their digital wealth: data. The need for business users to connect to the right data at the right time, with little or no training required, is de facto. “That’s why we’re embedding analytics in our entire solution suite”, says TK Anand, senior vice-president, Oracle Analytics. “We’re the trusted standard in data management, having securely managed the bulk of the world’s information for 40 years and counting,” he tells Sudhir Chowdhary in a recent interview. Excerpts:
What are the latest trends in the analytics space?
We are now on the cusp of the next wave in analytics: AI-driven autonomous analytics, and Oracle is at the forefront. We offer an integrated platform, because when a customer chooses point solutions/features, there’s one set of analytical tools for IT, another set of tools for the business, and yet another possibly for natural language—and because of these disparate solutions, customers lose the integration benefit; they end up with insights only in silos. That’s where Oracle’s whole value proposition begins—with our one simple, integrated platform.
Are businesses getting their analytics strategy right?
With data being abundant, customers understand the importance of analytics; what’s missing is the insights piece. From Oracle’s perspective, it is more about helping customers understand how to take advantage of the power of an integrated analytics platform and deploy it in a holistic manner for maximum business benefit—so they get the right insights, quickly, and make business decisions faster.
What’s Oracle’s analytics play?
Oracle is a leader in the data platforms as well as applications space. Our analytics platform is unique and differentiated, but it is also the binding force for all the offerings. We are really bringing the world of IT oriented analytics, business user oriented self-service analytics, and next-generation augmented analytics together, on one single platform. We are leading the way in the area of augmented analytics. Oracle Analytics, with Oracle Autonomous Database, is doing really well as a unit together.
How have customers benefited using Oracle Analytics?
OUTFRONT Media, a leading outdoor media company in US, helped its stakeholders become more data-driven with Oracle Analytics in just a few months, and was able to fast-track decision-making. Using Oracle Analytics along with Oracle Autonomous Data Warehouse, Hertz deployed a real-time financial analytics solution, and the company has nearly saved $11 million. Generali, a global insurance company with origins in Italy, put together a self-service workforce analytics solution for their users. Their executives are able to use all of their workforce analytics using mobile and voice, and that’s been really successful.
In India, Federal Bank is a great customer story. It used Oracle Analytics with Oracle Autonomous Database to improve the ATM experience for customers, while also improving operational efficiencies and aiding better business decisions, faster.
What more innovations can we expect from you in the next 12 months?
On the strategy front, we are looking to embed Oracle Analytics capabilities in our entire SaaS/application offerings. ERP cloud and HCM cloud are top two in our priority list, and we’ll get to supply chain and CX as well. We are also starting to work on something with NetSuite, our mid-market SaaS application offerings.
A key focus for us is AI-driven analytics and ML-powered automated insights. For example, customers can just point at an employee/HR dataset, and can ask what drives employee attrition. In this case, we are able to deploy a series of algorithms behind the scenes, try different scenarios and give you the top one, two, three drivers of employee attrition in an organisation.