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Predict Business Outcomes with SAP Analytics Cloud

Published on 13 November 2019
analytics cloud

Predicting the future is fraught with risks. Business scenarios change frequently, and there are too many variables that make predicting less fool-proof. In spite of this, there is a constant need for businesses to be able to make predictions and foresee probable outcomes. 

Digital transformation takes the center-stage in today’s business landscape. With ERP systems gathering more data, mining insights from the data and getting accurate predictions is not a daunting task anymore.
 
SAP is usually the first choice for businesses to run their mission-critical ERP systems. The ERP giant knows its way around with predictions. Let’s look at how SAP Analytics Cloud can help you predict the future.

Smart Predict

Smart Predict, an SAP Analytics Cloud feature, uses predictive analytics to predict future business outcomes without in-depth knowledge of predictive techniques. Traditional predictive methods require you to select algorithms and set complex parameters.  

Initially, the feature focuses on the type of business problem that needs to be solved. It then uses machine learning techniques to analyze and build scores of predictive models based on your data. Based on this analysis, Smart Predict automatically selects the most accurate and stable model to provide reliable predictions.  It helps you train the predictive models and apply them to both Business Intelligence and planning business scenarios—within the SAP Analytics Cloud.

Once your model is finalized, you can apply it to new data to generate predictive insights. These predictive insights can be used alongside your business intelligence and Business Planning to create compelling stories in SAP Analytics Cloud. Smart Predict provides an easy, transparent and dependable method to predict the future. 

What Predictive Analytics can do for you

Predictive analytics is certainly no magic window that allows you a peek into the future.  It cannot predict the stock market or government policy changes that may affect your business. And it certainly cannot predict whether a sudden hurricane will throw your daily lives and best-laid plans into disarray.  

What it can do is help you to make business decisions with ease and confidence. Regardless of what decision you are trying to reach, predictive analytics powered by SAP helps you plan based on what’s most likely to happen. Simply put, predictive analytics can help you visualize, determine and share untapped opportunities and unseen risks in real time.

About Applexus

Applexus Technologies (Applexus) is the global technology leader offering business consulting and SAP services to transform customers through digital innovation. We specialize in advisory, migration, implementation, and management of SAP S/4HANA and BW/4HANA solutions. Applexus delivers transformational business solutions for a marquee list of clients spanning retail, fashion, and consumer products industries. Applexus operates out of centers in North America, the United Kingdom, the Middle East, and India.

Sources:

www.sap.com
www.blogs.sap.com
www.applexus.com
www.alliedmarketresearch.com
www.reuters.com
news.sap.com

Renjith Thampi
Renjith Thampi
Lead Consultant

Renjith is an SAP Certified ABAP consultant with hands-on experience in projects across Retail, Oil & Gas, Consumer Products, Fashion, and Apparel and Footwear industries.

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