Peoplesoft Enterprise Performance Management adds Analytics via Numerical Algorithms Group
Giving companies with tens of millions of customers the ability to zero in on the details of each and every customer transaction requires powerful analytic tools...
Today, if your company wants to sell more widgets, it is well-served by business intelligence that tells how sales are going in multiple markets - in stores, on the Internet, with yuppies vs. seniors, etc. Indeed, most major companies now have enormous warehouses of enterprise-wide data that surpass the abilities of spreadsheets to handle. Into this breach steps PeopleSoft and its new generation of Enterprise Performance Management tools known as PeopleSoft 8, that help companies manage investments in employee, customer, and supplier relationships.
NAG technology enabled PeopleSoft to deliver statistical analytics to its customers much faster and more efficiently.
PeopleSoft 8 uses NAG mathematical and statistical software components in several of its business analytic tools for asset liability management, funds transfer pricing, risk weighted capital, and analytical forecasting. It provides PeopleSoft users with high-powered statistical analysis and scalable solutions. For example, a bank with tens of millions of customers can handily evaluate the risk factor of each and every loan. And now, telecommunications companies, deregulated energy companies, and others similarly trying to manage performance in a context where customer behaviour and market risk significantly impacts profitability, can readily study statistical outcomes of dynamic sales trends.
In these and other real life market scenarios, PeopleSoft 8 users get the world's most efficient statistical routines seamlessly woven into powerful analytical applications. With this combination, companies know where they are making money and where they are not - in great detail.
Why Use NAG Components? Louis Olds, PeopleSoft Vice President of Product Management, reports that his company's highly skilled product development team saved an estimated two man-years of development time by using NAG components.
"The size of our users' datasets was one of the key decision points. We were developing products for financial services applications designed to work for very large institutions that are typically calculating risk adjusted profitability in fine details, down to individual customers in some cases. Because the high performance of NAG software allows very intensive calculations across tens of millions of customers, it was the preferred option."
"We looked at a few different math libraries and found that NAG, by far, had the better set of routines that we needed and was proven to be more accurate and higher performing than the alternatives. NAG has the credibility we required from a tool supplier to move forward with confidence as we built our applications."
Louis Olds, PeopleSoft Vice President of Product Management