Oracle Crystal Ball: Forecast, simulate and optimize business risks
Although it may be counterintuitive, a lot of business leaders sometimes wish that they could rely on a fortune teller to tell them what they should and should not do. But here’s the news: fortune tellers are not always reliable and accurate about their predictions. You know what is? The Oracle Crystal Ball!Click here to read more about this article
Before you balk, complain and protest that we are losing our minds, let us first tell you that Oracle Crystal Ball is a software that helps you come up with predictive models that you could use to forecast, simulate and optimize the many factors that affect risks. What’s more, it is spreadsheet-based so that all the facts, forecasts and insights are easy to read. With Oracle Crystal Ball, you can be sure that tactical decisions related to your business or operations are easy to make with all the insights right in front of you.
The Oracle Crystal Ball has a variety of products under its wing, but let us focus on the Oracle Crystal Ball: Basic Edition.
The Oracle Crystal Ball: Basic Edition
The basic edition allows you to get a spreadsheet-based Monte Carlo simulation, tools, time series forecasting and reports. It is an effective way to model uncertainties and risks that are inherently present in the metrics that you are currently looking at. With Oracle Crystal Ball, you can make use of your old and current data to have an accurate model as well as to get solutions and scenarios that do not neglect uncertainties and limitations.
Oracle Crystal Ball also gives you capability metrics for your Six Sigma applications.
What is a Monte Carlo simulation? It uses computational algorithms that work with a lot of random sampling so that you could predict the outcomes. You could get a Monte Carlo simulation by running simulations repeatedly to see what outcomes are most probable. You would also be presented with all the factors that affect risk in every situation.
Sounds complicated? It does. But with Oracle Crystal Ball, who cares?
The Benefits of Oracle Crystal Ball
Still can’t decide if Oracle Crystal Ball is right for you? Just consider these two statistics:
- Around 85% of all Fortune 500 companies are using it.
- It is part of the curriculum for the top 50 MBA programs in the United States.
What’s more, Oracle Crystal Ball gives you the results fast, you can start in minutes. If you are currently using a spreadsheet technology for your operation, you can use that with Oracle Crystal Ball.
Further, it allows you to get the whole picture as well as easily share your analyses through reports, charts and graphs. You can straightforwardly work with a team, sharing the data and models with them.
There are a lot of applications wherein Oracle Crystal Ball shines. For example, you could use it for capacity planning, cost estimates, optimizing your inventory, allocating resources, selecting projects and managing your supply chain.
This is simply something you need, no doubt about it. If you are sold on the value that Oracle Crystal Ball Basic Edition offers your business, then call Four Cornerstone!
With Four Cornerstone, you will be working with Oracle experts in getting your Oracle Crystal Ball Basic Edition up and running. If you need help getting it to work with your current spreadsheet applications, or training people to use the software, we can help too.
Video courtesy of Oracle.