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Data Prep for AI: Get Your Oracle House in Order

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insightsoftware is a global provider of reporting, analytics, and performance management solutions, empowering organizations to unlock business data and transform the way finance and data teams operate.

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Despite the transformative potential of AI, a large number of finance teams are hesitating, waiting for this emerging technology to mature before investing. According to a recent Gartner report, a staggering 61% of finance organizations haven’t yet adopted AI. Finance has always been considered risk averse, so it is perhaps unsurprising to see that AI adoption in finance significantly lags other departments. This untapped potential suggests a significant opportunity for those willing to embrace AI and gain a competitive edge through intelligent automation and data-driven financial insights.

Oracle’s Cloud ERP with its built-in AI functionalities offers a compelling proposition for finance teams, automating tasks and generating valuable financial insights. However, to truly unlock this potential, complete data preparation and control are essential. Just like a powerful engine needs high-quality fuel, AI relies on clean, consistent data across the Oracle ecosystem. This ensures the accuracy of AI-generated forecasts, cash flow optimizations, and the discovery of hidden financial truths. Without complete data control, finance teams risk feeding the AI engine with errors or inconsistencies, leading to unreliable outputs and potentially misguided financial decisions. Thorough data preparation and control act as the foundation, allowing finance teams to leverage the full power of Oracle’s AI and transform their financial operations, now or in the future.

3 Ways to Prepare Your Oracle Data for AI

Data Integration and Transformation:

While financial data fragmentation across various systems (ERP, CRM, legacy applications) is a common hurdle, the complexities become even more pronounced when working with AI. Imagine this: sales data in your CRM uses opportunity IDs, while your ERP system uses unique sales order numbers. Merging these datasets requires not just combining the data, but also complex transformations to ensure corresponding fields like customer and product information align seamlessly. Additionally, Oracle Cloud ERP’s AI models might have specific data format requirements. For example, the AI might require customer data to be structured in a specific hierarchy (including region, branch, and individual customer) for optimal analysis. Manually transforming vast datasets to meet these requirements can be a significant obstacle.

Seek reporting solutions designed to conquer these data wrangling challenges and ensure a smooth workflow for optimizing Oracle Cloud ERP’s AI features. These tools excel at data integration, consolidating information from various financial systems (ERP, CRM, legacy) into a central hub. This eliminates data fragmentation, a major obstacle for AI. Additionally, they provide robust data transformation capabilities. Imagine those sales data inconsistencies – these tools can intelligently clean them and restructure entire datasets to seamlessly map with Oracle’s AI framework. They can also handle complex transformations, ensuring corresponding fields like customer IDs and product codes align perfectly. Furthermore, these solutions can automate data transformations to meet the specific format and hierarchy requirements of Oracle Cloud ERP’s AI models. By tackling these integration and transformation challenges, you’ll be feeding clean, standardized data into the AI engine, ensuring accurate and insightful financial analysis for informed decision-making.

How to Gain Near Real-Time Insights from Your Oracle Cloud Data

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Automating Repetitive Tasks:

Because Oracle Cloud ERP integrates with various systems, data formats can vary wildly. This means you need to not only cleanse and standardize the data itself, but also potentially restructure entire datasets to ensure compatibility with Oracle Cloud ERP’s specific AI models. This can involve tasks like mapping data points from different systems to corresponding fields within Oracle’s AI framework, ensuring consistency and completeness for accurate analysis. Furthermore, Oracle Cloud ERP’s AI features might require specific data formats or hierarchies for optimal performance. Manually transforming data to meet these requirements can be a significant undertaking, hindering your ability to leverage the power of AI for insightful decision-making.

Fortunately, there are automated reporting tools available to conquer these data wrangling challenges and unlock the true potential of Oracle Cloud ERP’s AI features. These solutions can streamline data preparation by automating extraction from diverse systems, even those with wildly different formats. They can then intelligently clean inconsistencies and restructure entire datasets to seamlessly map with Oracle’s AI framework. Furthermore, these tools can automate data transformations to meet the specific format and hierarchy requirements of Oracle Cloud ERP’s AI models.

By automating these complex and time-consuming tasks, you are freed from the data prep bottleneck. This allows you to shift your focus to higher-level activities like interpreting AI-generated insights, leveraging this valuable information for strategic decision-making, and ultimately driving significant improvements in financial performance.

Collaboration and Version Control:

Without the right tools to collaborate, you can run into problems keeping track of different versions of the data. Imagine one person cleansing customer data in one version, while another unknowingly works on an older version with dirty data. This can lead to inconsistencies when you merge the datasets for AI analysis, potentially skewing the results and hindering the AI’s ability to identify accurate financial insights. Further, Oracle Cloud ERP’s AI features might require specific tracking of where the data came from (data lineage) to ensure transparency and auditability.

Collaborative reporting tools with version control can help everyone work on the most up-to-date version, minimize inconsistencies, and maintain a clear history of data transformations – all crucial for reliable AI analysis and trusting the resulting financial insights.

The best tools act as a central hub, allowing multiple team members to work on the same dataset simultaneously. Features like collaborative data cleaning and transformation empower teams to tackle inconsistencies together, ensuring everyone works with the most up-to-date and accurate version. This eliminates the risk of conflicting edits or outdated data skewing AI analysis. Additionally, these solutions often offer robust version control, providing a clear audit trail of data transformations. This transparency is crucial for Oracle Cloud ERP’s AI features, which may require specific data lineage tracking to ensure the trustworthiness of the financial insights they generate. By streamlining collaboration and maintaining data integrity, these tools empower finance teams to leverage the full potential of Oracle Cloud ERP’s AI for informed decision-making and ultimately drive significant financial improvements.

Prepare for the AI Revolution With insightsoftware’s Oracle Reporting Tools:

Unleash the full potential of Oracle Cloud ERP’s AI features with insightsoftware’s suite of Oracle reporting tools. Our solutions conquer data integration and transformation challenges, automate repetitive tasks, and streamline collaboration, empowering your finance team to focus on what matters most: leveraging AI-driven insights for strategic decision-making and driving significant financial improvements.

To learn more, visit our website or check out our recent webinar “Accelerate Time to Value on Your Cloud Journey for Excel & Power BI with Reporting for Oracle”.

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Accelerate Time to Value on Your Cloud Journey for Excel & Power BI with Reporting for Oracle

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