Now more than ever, organizations need to draw actionable insights from their data to enhance decision making and boost business performance. To help HR teams achieve that goal, Oracle today announced Oracle Analytics for Fusion HCMTo learn.
The new self-service analytics capabilities help customers maximize the value of Oracle Human Capital Management (HCM) Cloud. Built on Oracle Analytics Cloud and powered by Oracle Autonomous Database, Oracle Analytics for Fusion HCM provides HR teams with deeper insights into workforce management by enabling a comprehensive view into data from across the organization.
“In today’s volatile business environment, HR has become a key strategic business partner for the organization,” said T.K. Anand, senior vice president, Oracle Analytics. “With Oracle Analytics for Fusion HCM, customers are now able to leverage out-of-the-box HR analytics to gain unprecedented intelligence and reduce the organization’s reliance on IT. This allows for closer collaboration between HR and other key business units—such as finance—to help our customers navigate uncertain times and position them for sustained business growth.”
Built for HR Decision-Makers and Business Partners
Oracle Analytics for Fusion HCM empowers HR executives, analysts, and line-of-business leaders to boost business performance and accelerate time to value. Pre-built features include:
- Cross-functional data model: Accelerates analysis of large volumes of Oracle HCM Cloud operational data. The data model resides within the high-performing Oracle Autonomous Data Warehouse, enabling alignment across business functions.
- KPI and dashboard library: Delivers a rich set of more than 50 HR KPIs as well as dashboards and reports for key metrics including workforce composition, turnover and retention, and team effectiveness to help HR teams gain faster insights. Pre-built KPIs include:
o Workforce demographics, span of control, hire and promotion count
o Turnover voluntary, involuntary, and retention
o Diversity statistics and trends
o Compensation trends and ratios
o Performance talent ratios
- Advanced analytics: Saves HR teams time, effort, and potential errors in calculations by analyzing areas including:
o Top talent retention
o Turnover by compa-ratio
o Team effectiveness
o Span of control
- Extensibility to fit the business: Enables customers to augment Oracle HCM Cloud data with data from other Oracle applications, non-Oracle applications, or other external data sources.
“Data, analytics, and AI have essentially become required competencies for success in today’s data-driven markets,” said Doug Henschen, vice president and principal analyst, Constellation Research. “By giving HR professionals the ability to quickly harness the power of their organizational data, Oracle Analytics for Fusion HCM allows HR teams to generate meaningful workforce insights to drive sustained business growth.
“To deliver value, analytics must impact a business process. Analytic applications support business processes directly by delivering a variety of different types of analysis packaged as solutions targeting specific processes, and specific groups of business users. They cover various functions. Some support industry-agnostic business processes such as procurement, which some are industry-specific,” said Gartner analysts Alys Woodward and Gareth Herschel.