Oracle Doubles Up Analytics, AI In Combo Deal

If artificial intelligence is all about summarizing the present in order to predict the future based on the greatest possible data and analytics, Oracle is endeavoring to make that happen seamlessly.

At a recent event where Oracle showcased its capability to align its analytics offerings with a plethora of AI enhancements for cascading the automation effects, the ensuing discussion encapsulated both the opportunities and challenges of bringing such promises into fruition. The end game is to deliver AI-powered analytics to all business users, according to T.K. Anand, Executive Vice President of Oracle.

Through the decades, Oracle has assembled a complete portfolio of analytics products designed to facilitate real-time reporting, insight dashboarding and decision-making, layering them on top of its cloud infrastructure, database, and enterprise applications, as shown in the following exhibit.

Exhibit 1 – Oracle Analytics Journey

Today’s imperative requires adding AI to an already robust platform for making the best use of available data, connected business processes and everything in between for overall measurability and even accountability, i.e. metrics, predictability, simulation, what-if scenario building and so on.

Miranda Nash, Oracle’s group vice president of AI applications development, said the key is to deliver AI enhancements in response to context and engineering prompts that are grounded in trusted data – ranging everything from historical and real-time transactions found in Oracle databases to business insights one gleans from Oracle applications, reports, and analytics.

Viji Krishnamurthy, senior director of Generative AI Solutions at Oracle, added that the vendor is engaged in rapid development of a host of enhancements that will benefit Oracle applications and analytics customers through AI-based search, natural language processing, and compact Large Language Model that fosters faster use cases because of no-code access to LLMs that optimize computing costs to ensure better performance due to reduced latency.

Improved clustering and fine-tuning from its data science development efforts, coupled with the latest advances from its Oracle Cloud Instructure Generative AI services like object detection,  digital agents and conversational models will all make such AI enhancements more tangible, lower overhead to bear and accelerated results, Krishnamurthy added. Partnerships with Nvidia for sovereign AI and Cohere for AI scalability with accuracy will also make a big difference, she said.

Oracle analytics executives predict the future lies in using Generative AI services to drive accurate forecasting and decision support after facilitating tremendous workloads like document understanding, face detection, code assist and Vector AI from within the Oracle Analytics Cloud platform.

After assuming the heavy burden of tackling reporting, business intelligence and data warehousing challenges on behalf of tens of thousands of its customers for more than two decades, Joey Fitts, group vice president of product strategy of Analytics at Oracle, said the vendor is well positioned to apply those AI enhancements to enrich the usability and power of its applications and analytics products.

Take manufacturing or distribution as an example, Oracle’s customers in those verticals will be able to use Supply Chain Command Center to detect, predict and perhaps mitigate supply chain risks before they become apparent as part of Intelligent Apps powered by Fusion Data Intelligence, formerly Oracle Fusion Analytics Warehouse.

Anand added that more industry applications will be able to take advantage of both Oracle Analytics and FDI with industries like utility where operators gain full visibility into customer, device and grid analytics.

What AI is capable of enriching Oracle Analytics further will manifest itself in such areas as predictive maintenance, demand forecasting and cycle time, all of which could be reported and presented differently with more story-telling visualization and digital components like podcast and avatars than just workbook calculation and generic dashboard.

Since 2023, Fitts said Fusion Data Intelligence has quadrupled its installed base aided by increasing number of partners to over 40 delivering Fusion Data Intelligence industry service offerings such as modernizing reporting and drill-through analytics for investment management companies.

Fitts added that many customers have attributed significant results to their use of Oracle Analytics Cloud including some realizing double-digit productivity gains, while others cutting their costs in half and pocketing hundreds of millions of savings along the way in use cases like fraud detection and digital transformation with Oracle Cloud and OAC.

These successful implementations come at a time when the cloud analytics market is reaching an inflection point as incumbents like Oracle are investing heavily in AI in order to sustain their all-encompassing suite advantage, while upstarts like Palantir and Snowflake are aiming to extend their double-digit growth rates by becoming the first to prevail in both AI and analytics through better data search and discovery. Where that leads is subject to many interpretations.

Although the consensus is that analytics and AI are becoming increasingly intertwined, it may take an out-of-the-box thinking to achieve desirable outcome for all the parties involved.

Back in 2019 at the Oracle Analytics Summit, an Oracle customer remarked that the transition from an on-premise analytics product to the Cloud had even prompted its IT staff to camp out at a local Starbucks to make use of better Wi-Fi connection in order to complete certain tasks.

Conditions are starkly different these days as few vendors are capable of monetizing the use of AI on top of their existing products, let alone figuring out how to pay for expensive LLM computing at the risks of shortchanging other priorities that they have been working on over the past years or decades.

What is evident is that Oracle has the added benefit of differentiating itself by touting its cloud infrastructure, database, applications and analytics capabilities, all of which can be enriched in a holistic way through better use of AI. And long-term viability is something that leaves many of its customers wanting to stay put and co-innovating with the vendor amid the upheaval.

List of Oracle Analytics Customers

Source: Apps Run The World, June 2024

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