Modern business is developing in a highly competitive environment with constantly changing customer requirements, and therefore, it is important for companies to maximize the use of modern solutions to maintain a competitive advantage. Data plays a key role in modern business. It helps companies to make informed strategic decisions and optimize processes.

The future of a company depends on the quality of the decisions made, and therefore, more and more businesses today are adopting a data-driven decision-making approach. It is data that not only gives us the facts, but also provides us with a complete picture and consequently the ability to make more informed decisions. This approach significantly reduces risks and helps companies achieve their business goals effectively. In this article, we will discuss the importance of business analytics for modern companies and how the SAP Analytics Cloud solution makes this process more efficient.

Evolution of Business Analytics and Challenges of Traditional Approaches

It is impossible to imagine a business today without analytics, but the tools that are available now are significantly different from those that were available a few decades ago. Business analytics has undergone a long process from reporting to advanced data analysis using AI and machine learning tools.

The introduction of modern analytical tools expands companies’ capabilities from simple analysis to forecasting and automated decision-making. Not so long ago, data processing and import, as well as primary reports, were performed in Excel. In that case, formulas were used to process data and create simple reports. This tool is still widely used today for simple data processing. However, in the case of large volumes of data, there are difficulties in processing due to the limitations of automation and integration with other sources.

Companies that need to process large amounts of data quickly and efficiently are actively implementing BI systems and other solutions that automate this process and allow them to combine data from different sources. Thus, business analytics has evolved from manual and limited tools to scalable solutions that enable automation of processes, a deeper understanding of data, and, as a result, informative business decisions. Read on, and we will detail one of the most common analytics tools on the market today, its benefits, and implementation features.

SAP Analytics Cloud as an Important Element of Data-Driven Companies

As we said before, the data-driven concept is popular today among businesses of all sizes. In this approach, data and analytics serve as a basis for decision-making at all stages of product development and determine which products are worth investing in and which are better to close.

SAP solutions are used by many large and medium-sized companies seeking to optimize processes and improve production efficiency. SAP Analytics Cloud is a comprehensive software solution based on the SaaS model. It combines business analytics (BI), advanced and predictive analytics, and corporate planning into a single system. SAP Analytics Cloud is a cloud-based system where you can analyze, forecast, plan, ask questions, and create reports. The system has many advantages for businesses of any size and direction, and now we will tell you about the most important ones.

Ease of Viewing Content

The system allows you to personalize the Start screen to view the latest stories, analytic applications, and files. This allows you to quickly find the information you need. Using SAP Analytics Cloud, you can organize your browsing into four tabs on the home screen:

• Today
• Catalog
• Favorites
• I’ve Got Access

The Catalog tabs make it much easier to publish and access logs.

Augmented Analytics

Augmented analytics capabilities, in other words, “intelligent features”, are available because the solution uses Artificial Intelligence and machine learning tools to provide clear answers to users’ questions about data. This feature allows you to automatically discover important information, ask conversational-style questions and get instant answers, predict and forecast potential outcomes, and use machine learning algorithms to identify hidden patterns and relationships in the data.

Seamless Access to Trusted Data

With SAP Analytics Cloud, you can ensure that content is created with the right data, and you can even directly view the source. In addition, you can set up a live data source connection. This way, when a user is working in the system, all changes will be instantly reflected in the source system.

When a company is faced with the task of implementing SAP Analytics Cloud or other SAP Solutions, many turn to the LeverX experts who have been implementing, customizing, and supporting SAP solutions for businesses worldwide for over 20 years. As an SAP Gold Partner, SAP Global Strategic Supplier, SAP Integrator, and SAP Value Added Reseller, LeverX helps companies leverage investments in SAP solutions.

LeverX provides a full spectrum of services for SAP Analytics Cloud, such as consulting, implementation, integration, support, and security. If your business is in need of better analytics, we encourage you to learn more about SAP solutions and LeverX services.