Data Management in Oracle EPM Cloud – Features and Benefits

February 2, 2022
Jhansi Rani
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Published On February 2, 2022

Oracle Enterprise Data Management Cloud (EDMC) is a module in Oracle EPM Cloud that helps organizations adapt and respond to change better and faster by managing master data, both on-premise and cloud-based. Organizations can also control the impact of mergers and acquisitions or reconcile metadata discrepancies across business functions and applications.

It is helpful for businesses struggling to manage change in the enterprise or operating in fast-paced business environments. Enterprise data includes transactional and analytical data, application-specific metadata, and other master datasets.

Features

Connect Oracle and Non-Oracle Applications

Oracle EPM Cloud Data Management includes application adapters that help you interpret the metadata and communicate changes with a connected business application. Adapters are of two types – custom or tailored. Custom application adapters integrate with any Oracle or non-Oracle application on-premises or in the cloud, whereas tailored application adapters deliver packaged integration. You can import lists or hierarchies from applications and save time without validating data on entry. You can also improve data quality within an application or business domain by validating different viewpoints. Viewpoints give end users a window into each dimension such as account, entity, product, cost center, etc. Connected applications are integrated seamlessly using RESTful interfaces, while other applications integrate via a flat-file interface.

Flexible Data Rationalization Approach

Oracle EPM Cloud Data Management helps you simplify and offer self-service data management capabilities for connected applications. Configure and facilitate cross-application, change management experiences in any business domain. While traditional master data management solutions rely on big-bang approaches across business functions, Oracle EDMC supports more tailored approaches. You can build one or more masters of varying scope and later evolve them into a full-fledged master data management program. This elastic data rationalization approach removes the need for businesses to invest in complex and risky data management initiatives.

Change Management and Data Visualization

In Oracle EPM Cloud Data Management, end-users can make all the changes in the security of a request. All the changes are recorded as a request item and related actions. You can create new data or modify existing relationships and attributes with requests in a simple user interface. Validate data in real-time using system checks and application validations. You can also visualize the impact of changes by imagining each change request and associated actions against the target structure. Simplify submissions with a single request for new items and changes to existing ones.

Real-time Collaboration

Oracle EPM Cloud Data Management allows users to improve requests by collaborating with collaborators. Real-time alerts keep everyone notified by alerting coauthors of any changes. Track activity, share feedback using conversation threads, assign tasks by tagging collaborators, and send real-time notifications via email. Ensure security with granular, role-based access to applications and data. Invite the correct stakeholders to collaborate at the right time and streamline your data management processes with intelligent automated workflows.

Rationalize Different Business Perspectives

Oracle EPM Cloud Data Management allows you to visually compare data in a side-by-side layout, understand underlying issues, and rationalize different business perspectives. Easy drag-and-drop functionality helps you visualize and manage varying viewpoints across applications. Export entire viewpoints to an Excel spreadsheet and use it offline or share them within workgroups. Save time by using subscriptions to copy changes automatically to downstream applications and by auto-submitting changes that don’t require human intervention. This process can be automated using scripts that run using the EPM Automate utility.

Benefits

- Align your business applications through self-service data maintenance, sharing, and rationalization to support change management
- Drive business transformation through modeling M&A scenarios, reorganization and restructurings, chart of accounts standardization, and redesign
- Accelerate cloud adoption by mapping business data across public, private, and hybrid cloud environments from Oracle or other systems
- Provide a system of record for all your business data across business functions