What is Hyperion?
The database that enables you to access the information terribly quickly is Hyperion. It aims to support improved business decision-making and Business Intelligence Therefore a BI system can be titled as a decision support system (DSS). BI uses technologies, processes, and applications to examine mostly internal, organized data and business practices while competitive intelligence gathers, analyzes and distribute statistics with a topical attention on company challengers.
Hyperion has 3 key products, though there are many peripheral software products:
- Essbase
- Hyperion Planning
- HFM (Hyperion Financial Management)
Essbase: – To construct analytic applications that gives a multidimensional database platform, Essbase, a multidimensional database management system (MDBMS) is used. Essbase, stands for “Extended Spread Sheet dataBASE”.
Hyperion Planning: – Hyperion Planning is the product in the Oracle Enterprise Performance Management software suite which is an industry-leading Business Intelligence software package. The main emphasis of the Hyperion Planning product is to deliver a budgeting, planning, and forecasting solution that supports you to achieve and organize all your business planning and budgeting requirements.
Oracle Hyperion Financial Management (HFM): – It is a complete, Web-based product that provide global financial association, broadcasting and analysis in a single, highly efficient software solution.
Oracle Hyperion Financial Management which is the part of Oracle EPM Suite, validate many things like collection, integration and reporting of financial outcomes in numerous GAAPs as well as IFRS, and the settlement of changes between the numerous standards. Hyperion Financial Management can be organized instantly to incorporate data from several Oracle and non-Oracle transactional systems, provide top-side reporting to IFRS requirements, and support organizations make the transition to IFRS.
Financial Reporting:
Financial Reporting comprises of two things i.e., the Financial Reporting Studio and the Workspace. If you want to create and edit reports, Financial Reporting Studio is used and If you want to view and print reports, Workspace is used.
Financial Reporting creates extremely organized, book-quality financial and management reports. It also helps organization to escalate the operational proficiencies of organizations that is essential to generate and allocate GAAP-compliant financial reports and other extremely organized management reports.
Web Analysis:
Web Analysis delivers executives and experts the best instinctual, user-directed, Web-based analysis competencies offered. Benefits of Web Analysis are as follows:
- Helps in highlighting trends and issues prematurely with graphical, highly instinctive dashboards.
- Helps to navigate and drill through multidimensional data to understand root causes.
- Helps to increase fast acceptance through ease-of-use and marginal exercise.
- Experienced analysis not possible with other business intelligence systems
Excel Smart View Tool:
The Hyperion Smart View for Office offers an Excel interface to Hyperion Financial Management (HFM) and to Essbase. It permits end-users to generate Ad Hoc reports in Excel and to import the generated reports from Financial Reporting into various tools such as Word, PowerPoint, Excel or Outlook. Functionality of Smart View is listed below:
Ad Hoc analysis in Excel
- To send and retrieve data with the help of Function Builder
- Import reports from Financial Reporting & Web Analysis to various tools such as Word, PowerPoint and Excel
- Access HFM data forms (optional)
- Submit data (optional)
- Calculate, translate and consolidate data (optional)
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