Oracle today announced new artificial intelligence (AI) capabilities in Oracle Fusion Data Intelligence that will help Oracle Fusion Cloud Applications customers improve decision making by combining data-driven insights with intelligent actions. Oracle Fusion Data Intelligence is a next-generation data, analytics, and AI solution powered by Oracle Cloud Infrastructure (OCI) services including Oracle Autonomous Database, OCI Data Lake, and Oracle Analytics Cloud. With the help of these new AI capabilities, organizations can make better decisions and improve business outcomes.
“Collecting, analyzing, and contextualizing data can be a time-consuming, error-prone process,” said T.K. Anand, executive vice president, Analytics, Oracle. “With Oracle Fusion Data Intelligence, our customers can optimize this process by taking advantage of a comprehensive analytics offering that brings together data, ready-to-use analytics, and prebuilt AI models in the right business context. The new AI capabilities we are adding can help customers further improve decision making and rapidly turn insights into action.”
The new AI capabilities in Oracle Fusion Data Intelligence are designed to expand existing services with analytics that go beyond day-to-day transactional reporting. Advanced machine learning capabilities provide insights and predict outcomes on specific questions for finance, supply chain, HR, and customer service. The Oracle-managed data pipelines and prebuilt analytical models help ensure that data is always current for robust predictive model training and accurate predictions. AI-powered analytics integrated directly into Oracle Fusion Applications include:
- ERP Analytics: Help finance teams improve decision-making with insights into operational and financial metrics across the organization. New AI capabilities will help Oracle Fusion Cloud Enterprise Resource Planning (ERP) customers analyze collection history to better predict risk and payment timing, gain deeper insights into business spend to identify appropriate classifications, and automatically detect and flag expense anomalies. One of these available models flags customers that are at risk of paying invoices late using historic data from aging receivables. Another new model identifies the risk of paying vendors late in order to maximize discounts and improve vendor relationships.
- SCM Analytics: Help supply chain leaders optimize their supply chain with insights from across their operations as well as external market data. New AI capabilities can help Oracle Fusion Cloud Supply Chain & Manufacturing (SCM) customers predict the actions needed to ensure on-time delivery, reduce supplier risks, optimize inventory management, and improve warehouse efficiency. By leveraging prebuilt analytics, organizations can connect insights from different areas of their supply chain and respond to changes faster.
- HCM Analytics: Help HR teams improve recruitment, talent retention, and growth while increasing the likelihood that resources are aligned with business needs. New AI capabilities can help Oracle Fusion Cloud Human Capital Management (HCM) customers predict staffing needs, identify next steps to close skills gaps, analyze workforce diversity, and provide actionable insights to improve time-to-hire. One of these available models surfaces hidden biases in hiring, internal mobility, and compensation practices across gender, age, and ethnicity. Another new model automatically identifies skill gaps to drive improvements in workforce planning.
- CX Analytics: Help sales teams efficiently engage customers with relevant offers that drive revenue and minimize customer churn. New AI capabilities can help Oracle Fusion Cloud Customer Experience (CX) customers to more accurately forecast sales, identify optimal pricing strategies, predict customer churn rates, and deliver data-driven recommendations for product pricing and sales strategies. One of these available models enables teams to leverage a single prebuilt, extensible analytical model for sales, marketing, contract, service, and subscription data for a 360-degree view of revenue and to further expand analysis with back-office ERP data.
In addition to the new AI capabilities, Oracle Fusion Data Intelligence now features an integration with and prebuilt analytics for Oracle Fusion Accounting Hub, part of Oracle Cloud ERP. Available as an add-on SKU to Oracle Fusion ERP Analytics, this integration enables customers to combine and analyze financial data from multiple accounting systems. Users can now discover correlations and irregularities across balances, journals, and sub-ledger transaction details, spanning accounting data from Oracle Cloud ERP and other systems.
