Beyond Finance: The Diversity of Oracle Essbase
January 21, 2014 - By: SC&H Group
Thanks to its multi-dimensional nature and reporting flexibility, Oracle Essbase is well known for being a powerful financial analytics tool. As a result, it has built a strong base of advocates in departments that extend beyond the financial realm, such as Human Resources.
One global investment management firm of more than 5,000 associates is a long-time champion of Oracle Essbase. Prior to using this analytic modeling software, this company received distributed reports that summarized associate headcount by ethnicity, gender and other attributes.
These reports were sourced using enormous Excel pivot tables, which were extremely cumbersome to maintain and frequently contained potentially broken links, as managers requested additional attributes on their reports.
Recognizing the power of Essbase with its multiple practical business applications, the investment management firm decided to further leverage its investment and implemented the software for its Human Resources department.
By storing key diversity metrics in Essbase ASO applications, the Human Resources department quickly transformed its Excel-based processes and reports to create various diversity reports using Oracle Essbase. This simplified the process of providing different report views for managers.
Overall, the company achieved the following:
- Created new diversity reports in minutes rather than creating Excel pivot tables against large source data sets.
- Laid the foundation for managers to run their own diversity reports, and transformed the reporting paradigm to a self-service model.
- Reduced data integrity issues by relying on a single source of data to meet all of the organizations diversity reporting requirements.
- Designed the applications in a way that allows managers to analyze diversity that were otherwise not readily available using the Excel pivot-table method.
Oracle Essbase is a highly dynamic tool that provides a rich environment for effectively developing custom analytic and enterprise performance management applications, which extend beyond the finance department. Human Resources and other departments can leverage the software in ways that improve efficiencies and offer a 360-degree perspective on all processes.
SC&H is an Oracle Platinum Partner, and its Business Performance Management (BPM) consulting team specializes in the effective and expeditious design, development, configuration, and implementation of multiple Oracle Hyperion EPM and BI solutions.
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