Machine Learning and Artificial Intelligence Create Challenges and Opportunities In Enterprise Performance Management
Machine learning (ML) and artificial intelligence (AI) represent emerging technologies in enterprise performance management (EPM). ML has the potential to automate and significantly improve forecast accuracy in planning applications, and it’s possible to envisage a new generation of EPM applications built on AI platforms.
In 2019, Dresner Advisory Services surveyed respondents’ attitudes toward these technologies and how they could impact EPM. Although most organizations remain skeptical, some early adopters see potential. This positive attitude represents an opportunity for vendors as well as IT professionals supporting EPM.
1. Close to 50 percent of organizations remain unsure about how ML and AI will impact EPM, while 21 percent think users may resist its use.
2. Twenty-nine percent of organizations think ML and AI will impact EPM in a significant, positive way.
3. Organizations in Asia Pacific are more positive about the impact of ML and AI, while small and large organizations are more positive than mid-sized organizations. Among functions, executive management sees the most impact from ML and AI.
4. Forty-one percent of organizations expect EPM vendors will package ML and AI capabilities as part of their solutions.
5. The finance function is the most likely to expect prepackaged ML and AI capabilities in EPM solutions.
6. A surprising number of small organizations say they plan build ML and AI capabilities for EPM solutions themselves.
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