Make Artificial Intelligence interesting for Business Intelligence and Financial Planning & Analysis

What used to take 6 weeks now only takes 1 week

In the last newsletter we touched on how people are the driving force behind digital transformation and how it can be supported by artificial intelligence and machine learning. We also took a look at how FP&A and Business Intelligence experts are beginning to extract useful values from Enterprise Performance Management technologies.

Analytical Evolution in Enterprise in Performance Management

About 15 years ago, Enterprise Performance Management (EPM) was introduced as a superstructure for Business Intelligence (BI), a new concept that addresses the growing complexity and problems of managing enterprise performance with spreadsheets. First-generation EPM software tools enabled ordinary business users to view their data from different angles and store them securely in a database designed for more flexible use of budget, forecasting, analysis and reporting. Compared to today, analyzes were often limited to describing past events / scenarios, hence the name, descriptive analysis.
Since then, the amount of data has exploded, analytics performance has increased and storage options have dropped in price. Advanced analytics now matches next-generation requirements. It quickly processes large amounts of data from both internal and external sources, allowing users to recognize patterns and gain deeper insight into information to make better decisions.
Forward-looking we will increasingly see BI and Enterprise Performance Management tools for financial forecasting and analytics that, with artificial intelligence, provide customers with improved opportunities to predict future business performance and to recommend initiatives and improvements. This is known as Predictive analytics.
Fremadrettet vil vi i stigende grad se BI og Enterprise Performance Management-værktøjer til økonomisk forecast og analyse, der med kunstig intelligens, giver kunder forbedrede muligheder til at forudsige fremtidige forretningsresultater og til at anbefale initiativer og forbedringer. Dette er kendt som Predictive analytics.

Analytical revolution with artificial intelligence and machine learning

Even when it is not about business intelligence and EPM, there is a great deal of interest today in how we can use artificial intelligence and machine learning. Artificial Intelligence (KI), is any technology that allows a machine to emulate human intelligence, meaning that it thinks and understands the world as a real human being. The concept of artificial intelligence has been here since the late 1950s, but quickly lost its relevance as time and technology simply weren’t mature enough.
With today’s unlimited availability, declining price trends on processing power, and the vast amount of data waiting to be analyzed, artificial intelligence is no longer just something from a science fiction novel or the scanty stage of research. The possibilities of exploiting KI are seemingly endless. Artificial intelligence will be a game-changer; not just for businesses, but also for society over the next decade.
Machine learning has exciting innovations within KI. It includes specific algorithms that allow a computer to process information, derive results, and then apply them as part of a continuous improvement cycle. This means that the computer no longer has to be programmed to perform a very specific task. Instead, the computer can teach itself to make decisions and solve problems on its own.
However, machine learning and, in particular, deep learning requires large amounts of valid data on par with Google or Amazon. Which is also the “fuel” behind the futuristic breakthrough as self-driving cars. In short, it is extremely advanced analysis.

GPU Accelerated Computing and Data Integration Technologies support AI

Jedox is also incorporating AI (Artificial Intelligence) and features from machine learning. Jedox customers today use the flexible, cross-cutting Jedox software platform to adapt budgets, plans and forecasts between financials and operations.
Jedox is in a unique position to drive artificial intelligence with GPU accelerated data processing, which contributes to further and faster performance, for the analysis of large data sets, in addition to the already high-performance in-memory database engine. Jedox data integration tools and pre-built data connections make it easy to link data from multiple sources.
Jedox data connector, collects data from internal systems such as ERP and CRM, and integrates with external data source to identify the most relevant drivers and trends.

"We want to be the best friend of the CFO"

Specialist within BudgetForecastBusiness intelligence

Qbit offers modern and customized solutions based on standards to support our customers all the way.

Latest news from Qbit

More information?

Fill out our form and we will provide you with the information’s you ask for
en_GBEnglish (UK)

Write or call us

Martin Memborg

Fill out our form and we will provide you with the information’s you ask for.

Bestil gratis analyse

Vi tilbyder dig en gratis analyse som baseret på vores mange års erfaring fra området, som vil give dig indsigt i vores anbefalinger til hvordan evt systemmæssige udfordringer løses og anbefalinger til hvordan din virksomhed bliver parat til fremtidens økonomistyring.

Udfyld formularen herunder, for at modtage en gratis analyse.
Du vil modtage yderligere information pr. email.

Tilmeld dig følgende webinar

"Future Finance – AI og robotteknologi kan ændre konkurrenceforholdene for din virksomhed, men det vil kræve handling! "

Udfyld formularen herunder, for at tilmelde dig vores webinar.
Du vil modtage yderligere information pr. email.

Tilmeld dig følgende webinar

"Finansiel konsolidering med Jedox
Moderne, brugervenligt og integreret Modul, designet i samarbejde med KPMG"

Udfyld formularen herunder, for at tilmelde dig vores webinar.
Du vil modtage yderligere information pr. email.

Tilmeld dig følgende webinar

"Future Finance – Det er en ny verden, ny teknologi ændrer konkurrencesituationen for din virksomhed og det vil kræve handling! "

Udfyld formularen herunder, for at tilmelde dig vores webinar.
Du vil modtage yderligere information pr. email.

Tilmeld dig følgende webinar

"Det moderne, digitale og brugervenlige Sammenfatning"

Udfyld formularen herunder, for at tilmelde dig vores webinar.
Du vil modtage yderligere information pr. email.

Tilmeld dig følgende webinar

"Den moderne, digitale og brugervenlige styring af Anlægsprojekter"

Udfyld formularen herunder, for at tilmelde dig vores webinar.
Du vil modtage yderligere information pr. email.

Tilmeld dig følgende webinar

"Det moderne, digitale og brugervenlige Budgetforslag"

Udfyld formularen herunder, for at tilmelde dig vores webinar.
Du vil modtage yderligere information pr. email.

Tilmeld dig følgende webinar

"Det moderne, digitale og brugervenlige Forventet regnskab"

Udfyld formularen herunder, for at tilmelde dig vores webinar.
Du vil modtage yderligere information pr. email.

Tilmeld dig følgende seminar

"Den Moderne Kommune – Fremtidssikret digital sammenhængende styring"

Udfyld formularen herunder, for at tilmelde dig vores seminar.
Du vil modtage yderligere information pr. email.

Sign up for our newsletter

Fill out the form below and sign up for our newsletter.
Be the first to receive our latest news and upcoming events.

Tilmeld dig følgende webinar

"Oplev Jedox modul til finansiel konsolidering – moderne platform udviklet i samarbejde med KPMG"

Udfyld formularen herunder, for at tilmelde dig vores webinar.
Du vil modtage yderligere information pr. email.

Tilmeld dig følgende webinar

"Digitalt Anlægsstyring til bedre overblik og opdateret indsigt, - fra det enkelte projekt til det konsoliderede anlægsregnskab"

Udfyld formularen herunder, for at tilmelde dig vores webinar.
Du vil modtage yderligere information pr. email.

Tilmeld dig følgende webinar

"Future Finance – AI og robot-teknologi ændrer konkurrencesituationen for din virksomhed og det vil kræve handling!"

Udfyld formularen herunder, for at tilmelde dig vores webinar.
Du vil modtage yderligere information pr. email.