Support for IPM Insights

Tax Reporting now supports IPM Insights. IPM Insights empowers finance, tax, and operational users with data science optimized for multidimensional tax, planning and forecasting use cases. IPM Insights analyzes past data, helping you find patterns and insights into data that you might not have found on your own. Insights can be trends, anomalies, forecast bias, or variations.

With IPM Insights, the insight discovery phase of the planning process is automated with data science and financial pattern recognition, enhancing your forecast effectiveness. Using IPM Insights, you can analyze and explore data across any account. IPM Insights automates processing large amounts of multidimensional data, so that as new actuals come into the system, you quickly detect patterns in your data or hidden correlations, streamlining reporting, improving your forecasting, and strengthening your decision making. You spend less time in analysis, saving time in the overall planning process.

IPM Insights provides these types of insights, using historical data:

  • Forecast variance and bias insights reveal hidden bias in forecasts submitted by planners by analyzing historical data. This type of insight measures the variance or bias between two historical scenarios such as Forecasts and Actuals, and calculates the percentage of risk associated with current forecast.

  • Anomaly insights detect unusual patterns in data that deviate from expected results. This type of insight detects outlier values that vary widely from other values, for example, a sudden volatility in actuals compared to the base level, or missing actuals data. For example, anomaly insights can be generated for return-to-provision and financial data version analytics.

To get started with IPM Insights, administrators configure insights and then run them. They can also schedule them to run on a regular basis. Users can then review and analyze insights on the Insights dashboard, and take appropriate action to improve the forecast.

Business Benefits:

  • Reduces time spent in data analysis
  • Minimizes hidden biases
  • Improves forecast accuracy and reliability, enhancing forecast effectiveness with informed decision making
  • Encourages collaboration with your colleagues
  • Helps you detect trends early to enhance strategic decision-making

Tips And Considerations

  • IPM Insights requires an EPM Enterprise Cloud service subscription.
  • IPM Insights works with applications with Hybrid Essbase enabled.

Key Resources