Advanced Predictions Now Available

Use the power of Advanced Predictions to improve your forecasts using multiple input drivers and sophisticated forecasting and machine learning algorithms.

Advanced Predictions are an extension of Auto Predict, expanding the power of the prediction engine by using machine learning backed by OCI Data Science Cloud. While Auto Predict and Predictive Planning offer univariate forecasting based on a single measure, Advanced Predictions provide multivariate predictions, looking at multiple input drivers to make the prediction. You train the ML model, which improves the quality of the predictions.

Univariate predictions used in Auto Predict and Predictive Planning create predictions based on one variable, for example, analyzing historical data for sales volume to predict future sales volume.

Multivariate predictions used in Advanced Predictions use advanced statistical and machine learning algorithms to generate multivariate predictions to improve your forecasting accuracy. Predictions are based on multiple variables. For example, to predict future sales volume, you can analyze several drivers or variables that correlate with your target variable. For example, you can analyze Industry Volumes, Average Sales Price, Advertising and Promotions, GDP Rate, and so on. The algorithms take the historical data for that variable and the drivers you included, as well as their what-if projections, to create a more accurate prediction.

With Advanced Predictions, you can predict using any of these algorithms or use Oracle AutoMLx, which runs all of these algorithms and selects the best option with the best results for you:

  • Light GBM
  • XGBoost
  • Prophet
  • SARIMAX

Administrators use the familiar IPM Configuration wizard to easily configure Advanced Predictions to provide insights into solutions.

IPM Configuration Wizard

IPM Configuration Wizard

Depending on the implementation, planners can use a dashboard to see an overview of the prediction, which can use multiple external and input drivers, such as industry volumes, advertising and promotions, sales price, and GDP rates.

Advanced Prediction Overview Dashboard

Advanced Prediction Overview Dashboard Example

Depending on the implementation, planners can also review:

  • Prediction—Review prediction details, historical data, and input driver details.
  • Input Drivers—Review and edit the input driver details.
  • Forecast Accuracy—Review and ensure the accuracy of the prediction.
  • Predict by Algorithms—Explore prediction results using different algorithms.

In a form with predicted values, planners can right-click a cell and select Explain Prediction, which opens prediction details that contain a line chart for historical trends and prediction results considering the best case, worse case, and most likely scenarios. You can also review details about the prediction including accuracy, the error measure, and the algorithm that was used.

Advanced Predictions Explain Prediction Page

Advanced Predictions Explain Prediction Page

Your current investment in Cloud EPM is delivering AI to you:

  • The AI features are already built into the business processes and are powered by OCI AI and leading large language models.
  • Your results are based on the data you provided and the relevant context surrounding it, making sure that your predictions are accurate and aligned with your specific data sources.
  • It honors Cloud EPM’s multi-layer security structure.
  • Its extensible framework allows for new capabilities and functionalities.

Business Benefit: Advanced Predictions expand the power of the prediction engine by using machine learning and AI to improve your forecasting accuracy:

  • Enable more powerful predictions by leveraging more sophisticated algorithms.
  • Improve accuracy as it correlates with multiple provided data points.
  • Easy to configure and use with the IPM Configuration wizard that can automatically select the best algorithm to use.
  • Designed for business finance, embedded in Cloud EPM so it can be used in context, without needing to learn data science.

Steps to Enable

To enable Advanced Predictions:

  • From the Home Page, click Application, and then click Settings.
  • In the Enable AI section, select Advanced Predictions.

Tips And Considerations

  • Advanced Predictions requires an EPM Enterprise Cloud Service subscription.
  • Advanced Predictions is available in FreeForm and in all Planning application types: Modules, Custom, FreeForm, Sales Planning, Strategic Workforce Planning, Predictive Cash Forecasting.
  • You must opt in to use Advanced Predictions.
  • There is no additional cost required to deploy OCI Data Science. OCI Data Science is embedded in Oracle Fusion Cloud Enterprise Performance Management.
  • Advanced Predictions works with both BSO and ASO cubes.
  • Explainability is available only on the web, not in Oracle Smart View for Office.

Key Resources