Oracle Analytics for Cloud HCM helps organizations using Oracle Cloud Human Capital Management (HCM) with ready-to-use key performance indicators, self-service data discoveries and other actionable insights.
With Oracle surpassing analysts’ expectations on its cloud revenue of last year, 2019, the company is not showing any signs of slowing down. The company is in a revamp mode and has launched its new analytics service for its Cloud HCM, coinciding with the Oracle Analytics Summit currently going on.
Earlier Oracle had tried to overhaul its Business Intelligence and analytics platform by combining 18 products into one brand name, Oracle Analytics. The sub-platforms of Oracle analytics, namely Oracle Analytics Server (OAS), and Oracle Analytics for Fusion Applications are all aligned with the 18 products the company is offering.
“Companies have a lot of analytics they want to do about their people and their finances, and typically to do that they’ve got to move their data left and right, it’s not integrated with their processes, it’s not integrated with their back-office applications,” says Bruno Aziza, group vice president of AI and Data Analytics Cloud at Oracle.
With the aim to help organizations tackle such problems, Oracle has come up with Oracle Analytics for Cloud HCM with self-service capabilities. The key features of its new launch are:
- KPI Management
- Best Practice Metrics library
- Prebuilt Analytic Models
- Self-service data discovery
- Augmented analytics
- Enterprise architecture and Security
- Mobile Exploration
These features will help HR executives and analysts with insights of workforce composition, span of control, top talent analysis, turnover, retention etc. According to research firm IDC, around $600 million was being spent annually by companies on workforce analytics prior to the Covid-19 outbreak. Though there is a high demand in analytics of sales data, the two areas organizations are hesitant are finance and HR. There is a lot of data concerns with these two areas.
The biggest competition for Oracle cloud services is Amazon’s AWS who is the market leader now. Oracle has a lot more to go on the cloud analytics area. But as of now it has made really huge progress.