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5 Ways Augmented Analytics Transforms the Enterprise

By Kate Wright, Head of Augmented BI, SAP HANA and Analytics

Today's increasingly digital economy has a massive impact on business. It is transforming markets to be hyper efficient, limiting capital, increasing transparency, and driving business at a faster rate than ever before. Enterprises need to find a way to keep up or get left behind. While this can be challenging, there are a variety of tools available to help organizations achieve success. According to Gartner, the infusion of artificial intelligence (AI) and machine learning (ML) technologies into analytics workflows, or "augmented analytics," is primed to be the next disruption in the data and analytics market and is predicted to become prominent in the years ahead.

By adopting augmented analytics and integrating data from multiple sources into a single business intelligence platform, companies can create one source of information to align all departments. Most importantly, augmented analytics capabilities allow business users of all levels to perform complex analytical tasks quickly with only minimal training. While traditionally, predictive analytics has been reserved for skilled data scientists, the digitized economy requires enterprises to rely on more than just a small set of people. All employees across various business functions, including HR, operations, finance and more, can now analyze and act on insights in real-time.

Augmented analytics are already helping businesses around the world reach new levels of efficiency and ROI. The following are just a few examples:

1)      Predict and Control Travel Expenses: To make sure budgets are followed, financial planners can forecast the possible evolution of travel expenses. The capabilities of augmented analytics also make it possible for them to automatically identify the reasons for differences between budget and forecast and take proactive actions to stay on budget.

2)      Analyze Customer Profiles for Increased Sales: While customer acquisition is always important, sales and marketing departments also focus on cross-selling and upselling. Augmented analytics capabilities allow them to optimize and visually supervise the advancement of sales and marketing campaigns in order to successfully sell additional products and services. With the help of AI, ML and analytics, sales and marketing teams can focus on the most probable outcomes, and dedicate the internal resources required for success.

3)      Forecast Global Operational Costs: For industries like manufacturing, keeping production costs down is critical. With factories across the world, manufacturers require a single source of truth to maintain a set budget across the organization. With augmented analytics, this is possible. Financial planners can easily predict production costs and monitor the cost evolution across locations to ensure manufacturers stay on track.

4)      Predict and Prioritize Payments: Augmented analytics help teams identify customers that should be prioritized for payment collections, in order to avoid late payments. The combination of AI and ML technologies embedded into analytics platforms helps companies prevent losses from non-payments and keeps customers from receiving late fee charges.

5)      Understand Workforce Management: In large companies, it can often be difficult to keep a pulse on employee engagement and productivity. Augmented analytics helps HR professionals understand the various workforce factors at play and forecast the future evolution of trends across their business. This level of insight enables HR teams and managers to identify employees that are at risk of leaving so that proactive actions can be taken, like implementing a retention plan.

As businesses consider their progress for 2019 so far and begin to think about their goals for 2020, they should evaluate the potential benefits of implementing an augmented analytics strategy. The combination of AI, ML, and analytics will equip enterprises with the tools they need to be successful. As long as leadership is committed to investing in augmented analytics as the foundation of their data strategy all employees can generate insights and more importantly, act on them to help the business reach its goals.

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About the Author

kate wright 

Kate Wright is the Head of Augmented Business Intelligence for Hana and Analytics, as of March 2019. In her new role, she manages a multi-hundred-person team with product management and development responsibility, including SAP Analytics Cloud, BI and Business Objects Enterprise. She was previously. The VP, Development for SAP Analytics Cloud where she was the head of development for Predictive in SAP Analytics Cloud. She managed a large global development organization with a focus on machine l earnings, advanced and augmented analytics. She is based in Vancouver, Canada and has worked across many different SAP lines of business - her entire career has been spent at SAP.

Kate is an experienced product and development manager in the field of Enterprise Analytics products with more than 9 years of experience in cloud software. She is also experienced in new product development, packaging and launches and has brought four different SaaS products to market. She provides a technical, market and customer-oriented visions for new product/technology development projects including enterprise and analytics applications. Kate possesses a unique blend of customer focus, big picture vision and enough technical experience to lead, work with or adjacent an engineering team and she's passionate about consumer-grade enterprise solutions. 
Published Thursday, August 01, 2019 7:37 AM by David Marshall
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