The Power of Oracle BI in Time Analysis
Time analysis is essential for understanding business data and identifying trends and patterns. Oracle BI, available both in the cloud and on-premise, offers advanced capabilities to perform time analyses efficiently and flexibly. In this article, we highlight key features and discuss solutions for common challenges in time analysis.
Compare Previous Periods (Ago) in Oracle BI
The ‘Ago’function allows you to compare performance over previous periods. This is particularly useful for analyzing historical data and identifying trends. For instance, you can compare product sales figures over the past 12 months.
Average Past Periods (Period Rolling)
The ‘PeriodRolling’ function enables you to aggregate data and calculate averages over a series of periods. This is helpful when evaluating average revenue figures across different quarters.
Compare the Current Month to the Current Year (ToDate)
With the ‘ToDate’ function, you can easily compare the performance of a specific month with the current year. This provides insights into monthly trends and performance.
Challenges with Fiscal Periods
However, using Oracle BI can become complex when financial administrations work with fiscal periods that don’t necessarily align with standard calendar months. There are different scenarios:
1. Calendar Month Synchronization: Some companies use fiscal periods that align precisely with calendar months, making it relatively straightforward.
2. Broken Fiscal Year: In some cases, the fiscal year does not start on January 1st, such as Japanese companies that commence on April 1st. Though whole calendar months are used, the differing end dates must be considered.
3. Fiscal Periods Crossing Calendar Months: Companies with, for instance, 13 fiscal periods of 4 weeks can face challenges as the end dates of fiscal periods do not match calendar month end dates.
Solutions for Fiscal Periods
To address these challenges, various approaches are possible:
1. Transactions at the Day Level: For journal entries and logistic transactions, transactions can be easily assigned to the appropriate fiscal period and year.
2. Departing from Oracle BI’s Standard Date/Time Functions: In some cases, it might be necessary to forgo Oracle BI’s advanced calendar functions and use manual filters.
3. Use of a Special Period Table: Adding columns for ‘Fiscal Year’ and ‘Fiscal Period’ to a period table can provide a solution for working with non-standard fiscal periods.
Dealing with Leap Years in Oracle BI Products
Leap years introduce an additional layer of complexity to time analyses. February 29th can be challenging to compare with the previous year due to the extra day.
Correcting for leap years may be necessary to accurately compare figures on an annual basis. This can be achieved by replacing February 29th with February 28th in tables dealing with fiscal period end dates.
Practical Approaches to Resolving Leap Years
To handle leap years and February correctly, various approaches can be considered:
1. Column Filters for Specific Months: Using column filters allows for the correct comparison of specific months, such as February, regardless of whether it is a leap year.
2. Julian Date for the Previous Year: Adding a column with the Julian Date of the previous year can aid in comparing data. However, this approach requires accurate data tracking.
3. Excluding February 29th: If comparing February 29th is problematic, a filter can be set to skip this date. However, this approach may pose challenges in financial reporting.
Conclusion
Oracle BI offers powerful tools for time analysis but requires a careful approach to make the most of its capabilities. Whether dealing with standard calendar years, complex fiscal periods, or leap years, proper configuration is essential. By focusing on your organization’s specific needs, you can gain valuable insights to support better decision-making.
