Business Planning and Forecasting using AI and Machine Learning with the SAP Analytics Cloud – SAC
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© 2023 by IJCTT Journal
Volume-71 Issue-12
Year of Publication : 2023
Authors : Chandrasekhar Gopisetti
DOI :  10.14445/22312803/IJCTT-V71I12P101

How to Cite?

Chandrasekhar Gopisetti, "Business Planning and Forecasting using AI and Machine Learning with the SAP Analytics Cloud – SAC," International Journal of Computer Trends and Technology, vol. 71, no. 12, pp. 1-4, 2023. Crossref, https://doi.org/10.14445/22312803/IJCTT-V71I12P101

Abstract
Business Planning and Forecasting is "Steering Tomorrow with Today's Insights." Incorporating DigitalTechnologies into Business Planning and Forecasting has profoundly transformed how companies devise future strategies. It allows organizationsto base decisions on data-driven insights, react promptly to shiftsin the market,and, ultimately, secure a competitive advantage in the swiftly evolving business landscape. This fusion of digital technologies with business planning and forecasting has reshaped these practices, rendering them more focused on data, adaptable, and streamlined. Utilizing these tools empowers businesses to enhance their decision-making processes and, in turn, gain a competitive edge in today's ever-changing business arena.
Business and Financial Planning represent crucial components within the management cycle. Companies operate within complex environments characterized by diverse geographical settings, political landscapes, competitive dynamics, and varying business models, such as public sector and privately owned enterprises. Companies formulate strategic plans to achieve these goals efficiently depending on their overarching corporate objectives, which may involve increasing operating margins, boosting earnings, or reducing expenses.
In pursuit of these objectives, company executives must make timely and well-informed business decisions. Executives require access to essential information regarding expenditure, revenue, assets, workforce, and other relevant factors to facilitate these decisions. In today's competitive landscape, companies must devise strategies and decisions for the present circumstances and establish a clear vision for the future. This forward-looking visionis contingent upon a variety of factors.
This paperisintended to assist enterprises in making an informed choice when selecting a Business Planningand Forecasting Solution offered through SAP Analytics Cloud. This cloud-based Software-as-a-Service (SAAS) tool facilitates the development of a robust solution for Business Planning and Forecasting processes, encompassing features like Data Actions, Allocations, what-if scenarios, Rolling Forecasts, analytical capabilities,security, and performance. These capabilities are enhanced by integrating cutting-edge Artificial Intelligence andMachine Learning functionalities inherent to this tool.

Keywords
Enterprise Performance Management, SAP Analytics Cloud, Financial Planning, SAP HANA,Predictive Analytics, SAP S/4 HANA.

Reference

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