Hyperion proves to be an asset to Oracle

Oracle is the second largest seller of business applications in the world and there are thousands of customers associated with it. Hyperion is Oracle’s prime financial planning software. Training in Hyperion is constantly proving to be crucial in improving the performance reasonably well. It can be seen that this tool is not going to be sunsetted from their portfolio anytime soon.

So, what does Oracle plan to do with Hyperion?  Well, Oracle has developed some clear strategies over the past few years regarding the functioning of Hyperion.

• As a short-term goal, to ensure that its overall apps can talk to one each other and to any other significant third-party applications; and

• As a long-term strategy, to split its applications into modules that execute well-defined functions, to unite the modules for various applications, and to enable any module to talk to any other different module using an SOA-based architecture.

Oracle has progressed quite significantly in terms of its short-term goal. In terms of its long-term goal, it might take one to two decades to get a full realization.  

Hyperion is basically a multidimensional database tool for analytics and reports purpose. It is a very niche product and serves the huge population and leads much of the technology innovation. It is the right size technology and the right size problem. Here, one can enjoy building models, use the technology to enable processes, and be closer to users to help them exploit the analytical capabilities of the technology.

Currently, Hyperion is proving to be the king of EPM for large enterprises. There are some cloud base solutions that compete with Hyperion for not-so-large businesses. Some of them present in the market today are applications that extend its performance through a narrow range of functions. They are improving a lot but preferable only for certain companies. But for large corporations dealing with complex and dynamic analytical needs, Hyperion does serve the right.

Financial Niche

Hyperion is the best at finance. It is focussed on budgeting, consolidation, and planning. It is more focused on financial analysis and reporting.

The future of Hyperion financial management is very bright. If you see your future in Financial Technologies, Essbase is one of the best tools you can learn. It is one of the ten most important innovations of the last decade, according to the Wikipedia and with the new cloud initiatives of Oracle, it is believed to protect its place at the top of the charts as the best tool for OLAP (OnLine Analytical Processing) tools. As it is already a strong tool for the finance department, it is also constantly developed and enhanced. You will find many opportunities for your growth.

Final Thoughts...

Hyperion does well and better than anything Oracle has on board. So Oracle’s applications are expected to unite in the direction of Hyperion. The Enterprise Performance Management and Essbase components of Hyperion will be enhanced in a way that they would have been had Hyperion remained as an independent entity. However, as a side note, assure not to stop at only one component of Hyperion, it is preferred to invest time in the technologies like Planning, FDMEE etc. This will definitely aid big time when in search of a new job.