A famous Chinese proverb says that a journey of a thousand miles begins with a single step.
Taking the augmented analytics journey requires the combination of a powerful technology on one side and relevant use cases on the other side.
The good news is that the entry barrier to the technology has never been so low. Augmented Analytics techniques are available in seconds to the SAP Analytics Cloud users. End-users can take advantage in of powerful search engines providing them with visual answers (Search to Insights), intelligent insights provided in the context of their data navigation (Smart Insights), and data analysis and data augmentation tools to include a forward-looking perspective to their dashboards (Smart Discovery and Smart Predict).
The Augmented Analytics product management team is interacting daily with SAP customers and partners to hear how they use SAP Analytics Cloud to optimally solve their business needs.
Through these conversations, numerous use cases have been identified that can be tackled today using Smart Predict.
Smart Predict Use Cases
Let’s single out a few of them here:
- Control Travel and Expenses. The control of travel and expenses is an important topic for companies. Leaders and financial planners leverage Smart Predict to forecast the likely evolution of travel expenses, identify the significant deviations between budget and forecast, and take proactive actions to stay on budget.
- Customer Profiling and Adoption. Sales and marketing departments use Smart Predict to implement effective cross-selling and upselling actions and de facto optimize and visually supervise the advancement of sales and marketing campaigns. They focus on the most probable outcomes to optimize and focus the internal resources for success.
- Predicting Operational Costs. Manufacturing companies that are operating factories across to the world wants to keep their production costs under control. Financial controllers use Smart Predict to predict their production costs and monitor the cost evolution in ad-hoc dashboards.
- Payment Forecasting. Late payments lead to cash flow problems. Smart Predict helps identifying the customers that should be prioritized for payment collections. You can explore this scenario more in detail here.
- Workforce Management. It is vital for our customers to retain their internal talents. Smart Predict helps our customers identify employees that are at risk of leaving so that proactive actions can be taken. Smart Predict helps them understand in detail the attrition mechanisms at play and forecast the future evolution trends of the workforce across their business.
Our customers also rely on Smart Predict to forecast prices, evaluate the future product demand, proactively act on late orders, predict sales…the possibilities are just endless!
I hope these few real-world business cases will help you take the first step towards a long-term Augmented Analytics and Smart Predict journey.
- I warmly encourage you to read a detailed presentation on how you can bring the power of automated machine learning directly to your business users.
- You can also enroll for the openSAP course Intelligent Decisions with SAP Analytics Cloud to experience how business intelligence and augmented analytics help you make decisions with a new level of confidence.