Jedox 2021.2: AIssisted™ Wizard
Jedox AIssisted™ Planning is the native AI service within the Jedox platform that gives users access to out-of-the-box intelligent automation and smart insights. The AIssisted™ Planning wizards can be added to your Jedox solution to create and automate smart predictions with a few clicks. The new Driver Analysis wizard, released with Jedox 2021.2, offers insights into business drivers, data, and connections. It also helps to refine driver-based predictions and increase forecast accuracy for financial and operational signaling. All AIssisted™ Planning wizards come with a user interface refresh in Jedox 2021.2, which makes navigation from setup to results even easier. Get the inside scoop here on the latest feature additions to Jedox AIssisted™ Planning based on real-life customer feedback.
The Challenge of Using Business Drivers for Planning, Signaling and Predictions
FP&A managers and business planners in data-driven businesses regularly make assumptions about the drivers and relevant signals in their data to plan, predict, and promptly respond to their markets. But if those assumptions are incorrect or a driver is under or overestimated, it can be difficult to achieve high quality planning results and accurate predictions even for the best algorithms or the most seasoned planner.
Analyze Drivers with the Latest Jedox AIssisted™ Planning Wizard
The new Jedox AIssisted™ Driver Analysis wizard helps planners to solve this challenge. With just a few steps, you can see how much impact each of your drivers has on a targeted measure. Simply select all the drivers you are interested in and tell the wizard which measure you want to see the impact.
For example, let’s say you are an ice cream vendor. You may want to know what impact precipitation, temperature, month of the year, bank holidays, and local events have on your gross revenue. You might have assumptions that you already use to make inventory purchases and other business decisions. To test your assumptions, define your drivers and select gross revenue as your target measure in the Driver Analysis wizard. The wizard then returns a results page listing your impact drivers from high to low, as well as those that have no impact.
Validate Drivers, Discover New Insights, and Increase Prediction Accuracy
The Driver Analysis results give you powerful information that can be used in different ways. They can confirm that the drivers on which you rely the most are indeed the most impactful. Or it can give you insights on other drivers that might also be important and should be included in your models and predictions.
When used together with the AIssisted™ Driver-Based Prediction wizard, the Driver Analysis can increase the accuracy of intelligent predictions. Choose only the most impactful drivers in your setup to achieve accurate forecasts, less variance, and valuable financial and operational signaling.
Additionally, you can use Driver Analysis to reduce the number of drivers in your models and predictions. For those who are just beginning the process of signaling, or who want to explore a new set of data, the results can shed some light and guide you through unknown territory. Watch the short demo video for a walk-through.
Walkthrough: Validate and select drivers
A Fresh Look for All AIssisted™ Planning Wizards
In addition to the new Driver Analysis wizard, the look and feel of all intelligent wizards in the AIssisted™ Planning Model have been completely refreshed. Based on customer feedback, every wizard sports a cleaner, more intuitive interface and a simple step-by-step walk-through.
Current users will find their setups and results are presented even more clearly with the new report design. The updated UI makes Jedox AIssisted™ Planning even more accessible to new users and empowers everyone in your organization with an integrated and secure experience for intelligent planning, forecasting and analysis.
The AIssisted™ Planning wizards are available for “Test Drive” on Jedox Marketplace. To start forecasting and scenario analysis with the Jedox AIssisted™ Planning service with your own data, contact us for a demo.