How SAP Analytics Cloud leverages Generative AI & Joule Copilot | SAP Data Unleashed 2024 Demo
Science & Technology
Introduction
In the demo showcasing the capabilities of SAP Analytics Cloud, a Chief Controller at Best Run Bikes reviews the budget submissions from planners for 2024. The focus is on obtaining a clear and up-to-date understanding of the company’s financial situation.
Financial Insights Powered by Generative AI
Using Joule, SAP's generative AI co-pilot, the Chief Controller quickly creates a comprehensive dashboard with critical financial information, including detailed Profit and Loss statements, balance sheets, and cash flow data sourced directly from SAP Data Sphere. By leveraging analytical models with both SAP and non-SAP data, the controller identifies an increase in operational costs and a decrease in profit margins for the upcoming budget, raising concerns that need to be addressed.
Identifying Cost Drivers
To investigate the unexpected lower margins for 2024, the Chief Controller seeks insights from Joule. The AI analyzes comments associated with direct costs submitted during the budgeting process. It reveals that several controllers have entered higher material costs in the budget due to fears of rising inflation. This analysis, made possible through the automated capabilities of Joule, saves considerable time and enhances accuracy compared to manual assessments.
Scenario Planning and Budget Revisions
With this newfound understanding, the Chief Controller considers adjusting the budget assumptions based on expected reductions in inflation. Joule assists in creating a revised budget that reflects these new inflation expectations. Typically, recreating budgets can be a tedious task, but with the help of generative AI, this process is streamlined, allowing more time for critical business decisions.
Validating Inflation Projections
To verify the inflation projections for 2024, the Chief Controller utilizes the Compass feature in SAP Analytics Cloud. This tool enables visual simulations of various economic factors on the company’s profitability. Joule efficiently searches the SAP Data Sphere catalog for validated third-party forecasts and uncovers expectations for decreasing inflation. With these insights, the Chief Controller is able to adjust inflation rates accordingly and simulate different scenarios to assess the possible impacts on overall profitability.
Understanding Economic Impact
The ability to simulate various economic drivers, such as inflation rates and GDP growth, not only helps the Chief Controller analyze the potential outcomes but instills confidence in the company’s strategy to expand product lines into new markets even amidst moderate top-line growth.
Interactive Dashboard Experience
Using an Apple Vision Pro, the Chief Controller engages with SAP Analytics Cloud through a user-friendly interface that enhances data analysis enthusiasm. By accessing personalized dashboards, the controller examines company performance metrics such as revenue and sales volume. The platform allows the creation of custom visualizations, where the Chief Controller can interactively analyze revenue forecasts and drill down into specific sales data. Collaborative planning reviews are made easier, as the interactive calendar enables invitations to other stakeholders effortlessly.
Keywords
- SAP Analytics Cloud
- Generative AI
- Joule Copilot
- Financial Insights
- Budget Submissions
- Operational Costs
- Profit Margins
- Scenario Planning
- Inflation Projections
- Economic Impact
- Interactive Dashboard
- Data Analysis
FAQ
Q: What is the role of Joule in SAP Analytics Cloud?
A: Joule serves as a generative AI co-pilot that assists users in creating insightful dashboards and analyzing complex financial data quickly and accurately.
Q: How does SAP Analytics Cloud help in budget planning?
A: It streamlines the budgeting process by using AI to automate scenario planning, enabling users to quickly adjust budgets based on changing economic assumptions.
Q: Can SAP Analytics Cloud validate inflation projections?
A: Yes, it features tools like Compass that allow users to simulate economic drivers and validate projections using third-party data sources.
Q: How does the interactive dashboard enhance data analysis?
A: The interactive dashboard provides visual tools for users to create custom visualizations, drill down into specific data points, and collaboratively engage with stakeholders.
Q: What kind of insights can be derived from expense analyses in SAP Analytics Cloud?
A: Users can identify rising operational costs, understand the impact of inflation on margins, and assess overall profitability under various economic scenarios.
