The company's Strategic Enterprise Management package, announced today, is designed to help companies sort out complicated and conflicting business information. That data includes planning goals, budgets, monthly and quarterly financial results, and employee incentive plans.
The products should help companies use financial and non-financial data to improve business strategies, analysts said.
"Companies at the high end want to better leverage important information so they can establish which customers they should continue to sell to, which are the most profitable customers, and who are the high-cost customers," said Judy Hodges, analyst at Framingham, Massachusetts-based International Data Corporation.
Management applications work with Oracle's Enterprise Data Warehouse, which can be used to retrieve and store data from Oracle and non-Oracle applications, legacy systems, and software. The Oracle's products comprise four applications including:
While Enterprise Resource Planning Systems systems automate and improve a company's efficiency, these huge projects lack critical financial analysis applications, said John Wookey, vice president of Oracle Financials Applications Products.
"What we're missing are tools for decision-making," he said. "That's the purpose of this new [product] family--to understand profit better."
Oracle, a leader in the business intelligence applications market along with rivals SAP and, to some extent, PeopleSoft, assembled its application suite around several recent acquisitions. While the financial analysis space is growing rapidly, it's still developing and not mature enough to measure in depth, Hodges said.
With its announcement, Oracle is targeting the financial industry, telecommunications companies, and utilities. No pricing was released.