What is Analytics in SAP BV-FINANCE - Brand Voice - Financial Management?

SAP Term: Analytics

• Component: BV-FINANCE

• Component Name: Brand Voice - Financial Management

• Description: A cloud service available as an add-on to Concur Expense and Concur Invoice. It enables customers to consolidate their data from Concur Expense and Concur Invoice into one analytics solution to help get insight into their employee spending.

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• Key Concepts: 
  Analytics is a term used to describe the process of collecting, organizing, and analyzing data to gain insights and make informed decisions. It is a key component of SAP's Business Intelligence (BI) suite, which provides users with the ability to access and analyze data from multiple sources. With analytics, users can identify trends, uncover hidden patterns, and gain valuable insights into their business operations.
  
  How to Use It: 
  SAP Analytics can be used to analyze data from multiple sources, including SAP ERP systems, SAP HANA databases, and other external sources. It provides users with the ability to create reports and dashboards that can be used to monitor performance and identify areas for improvement. Additionally, it can be used to create predictive models that can help users anticipate future trends and make better decisions.
  
  Tips & Tricks: 
  When using SAP Analytics, it is important to ensure that the data being analyzed is accurate and up-to-date. Additionally, it is important to ensure that the data is properly organized so that it can be easily accessed and analyzed. Finally, it is important to use the right tools for the job; for example, if you are looking to create predictive models, then you should use SAP Predictive Analytics.
  
  Related Information: 
  SAP Analytics is part of the larger SAP Business Intelligence suite of products. Other products in this suite include SAP BusinessObjects BI, SAP Lumira, and SAP HANA. Additionally, there are a number of third-party tools available that can be used in conjunction with SAP Analytics to further enhance its capabilities.