Data Science and analytics in Oracle world:
Oracle Analytics Cloud with Oracle demand planning
Data science and analytics can play a significant role in Oracle ERP Cloud, providing valuable insights and predictions that can help businesses make more informed and strategic decisions. Oracle ERP Cloud is a suite of enterprise resource planning (ERP) modules that can be used to manage and optimize different aspects of a business, including finance, supply chain, manufacturing, and human resources management. With data science and analytics, businesses can use machine learning algorithms and data visualization tools to analyze data from Oracle ERP Cloud and identify different patterns and trends that can be helpful in improving their operations and drive growth. For example, data scientists can use data from Oracle ERP Cloud to forecast demand for products, optimize inventory levels, and improve supply chain efficiency. Overall, the use of data science and analytics in Oracle ERP Cloud can help businesses improve their performance and profitability.
Oracle Analytics Cloud is a cloud-based platform that provides a range of analytics and business intelligence tools, including data visualization, predictive analytics, and machine learning. Oracle Demand Planning is a suite of tools and applications that can be integrated with Oracle Analytics Cloud to help businesses manage and optimize their demand planning processes. This includes forecasting demand for products and services and using that information to make informed decisions about inventory levels, production schedules, and other aspects of the supply chain. With Oracle Analytics Cloud, businesses can use data visualization and analytics tools to analyze and understand their demand planning data and make more informed and strategic decisions. This can help businesses improve their demand planning processes and ultimately drive increased efficiency, lower costs, and improved profitability.
Some of the advantages of using Oracle Analytics Cloud with Oracle Demand Planning include:
· Improved accuracy of demand forecasts:
- With Oracle Analytics Cloud, businesses can use data visualization and analytics tools to analyze the historical data and identify patterns that can help them forecast future demand more accurately.
- For eg: A business that sells seasonal products, such as outdoor gear or holiday decorations, could use Oracle Analytics Cloud to analyze historical sales data and identify trends that can help them forecast demand more accurately.
- This can help businesses avoid overstocking or understocking and ensure that they have the right products available at the right times.
· Better inventory management:
- Oracle Analytics Cloud can also help businesses optimize their inventory levels by providing insights into the most effective ways to store, move, and distribute products.
- For Eg: A retail business with multiple stores could use Oracle Analytics Cloud to optimize their inventory levels by analyzing customer purchase data and store locations.
- This can help businesses reduce the amount of inventory they need to hold, lowering their storage costs and improving their cash flow.
· Enhanced transportation efficiency:
- Oracle Analytics Cloud can be used to optimize the routing of transportation, helping businesses reduce their shipping costs and improve delivery times.
- For eg: A manufacturing company with multiple suppliers and customers could use Oracle Analytics Cloud to optimize the routing of its transportation fleet. By analyzing data on supplier locations, customer demand, and transportation costs, the company could identify the most efficient routes and schedules for its vehicles.
- This can help business in reducing costs and improving delivery times.
· Improved decision making:
- Oracle Analytics Cloud can provide businesses with valuable insights and predictions that can help them make more informed and strategic decisions.
- For eg: A business that sells perishable products, such as food or flowers, could use Oracle Analytics Cloud to predict demand and make decisions about inventory levels and production schedules. By analyzing data on past sales, weather patterns, and other factors that can affect demand, the business could make more informed and strategic decisions, ultimately leading to improved performance and profitability
- This can help businesses stay ahead of market trends and changes and make decisions that will drive long-term growth and success.
Overall, the use of Oracle Analytics Cloud with Oracle Demand Planning can help businesses improve their demand planning processes, leading to increased efficiency, lower costs, and improved profitability