Leveraging the Oracle Autonomous Data Warehouse can help finance leaders and organizations easily, quickly, and securely gain control over financial data. As a finance leader, you’re likely eager to discover insights and make decisions faster than ever. Whether you’re analyzing expenses, optimizing cash flow, or evaluating your credit exposure, timely and trustworthy data is vital to your success. By taking more control over your financial data, you can be more confident in your analysis and more effective in influencing business decisions.
4 Crucial Areas of Control Over Financial Data
Let’s explore four crucial areas of gaining control over financial data:
- Controlling your own shareable and secure data workspace
- Capturing up-to-date data
- Trusting the data across the workgroup
- Adding computing power as needed
Shareable and Secure Data Workspace
First, set up a secure and shareable workspace in the Oracle Cloud. This ensures that sensitive financial and credit data is available only to authorized users. Start by entering a few simple details in the Oracle Autonomous Data Warehouse. Next, upload an in-progress customer credit analysis spreadsheet to drive collaboration around a single source of truth, rather than emailing and reconciling duplicate spreadsheets. After reviewing your imported data, save your project in the Oracle Cloud. Then, you’re all set with full control over financial data in your shareable and secure data workspace.
Capturing Up-to-Date Data
Let’s add current credit-related information to our data set from Oracle and non-Oracle sources. Best of all, it’s live data, which means no waiting for periodic extracts. Fast importing ensures maximum efficiency, even with large data sets. Additionally, it’s all optimized for quick access later on. You can get a clear view of the data that is flowing into your analysis with data and even joining automatically from both sources.
Trusting Data Across the Workgroup
With everything in one place, let’s enrich your data set with centralized data transformations and formulas. Simply add a calculation column, create a credit available formula using data from across the data set, and save your enriched data set to the Cloud. You can do so knowing that you are preventing inconsistency and confusion. Across your workgroup, all of your data sets can be easily shared, trusted, and analyzed faster by using the Oracle Autonomous Data Warehouse and Oracle’s included Data Visualization for Desktop tool, Oracle Analytic Cloud service, or any other third-party tools.
Adding Computing Power as Needed
Taking control of your financial data is not just about data preparation pipelines. The real payoff in data management is when you use it. Going back to credit exposure analysis, it would take hours to process the millions of enterprise transactions with an underpowered CPU. However, with Oracle, analysts can increase processing power as needed to any analysis – reducing time by up to 90 percent – and then scale it back down to reduce costs. This brings massive potential for productivity to your organization.
Gaining control over financial data can be easy, fast, powerful, and autonomous when you leverage the Oracle Autonomous Data Warehouse. You can vastly improve your financial analysis, reduce cost and complexity, unlock your creative potential, and take full control over financial data with analytics and data that are always up-to-date, trustworthy, and available – all independently from IT. Leverage the self-driving, self-securing, and self-preparing Oracle Autonomous Data Warehouse.
For more information about how to gain control over Financial data in the Oracle Autonomous Data Warehouse, check out the video and additional Quest resources below.