Configuring IPM Calendars & Events

In November 2021, Oracle released Intelligent Performance Management (IPM), which integrates directly into your EPM applications to provide automated predictions, data analysis and insight into anomalies or patterns which may otherwise go unnoticed.

Then in the August 2023 EPM patch, Oracle released new Calendars & Events functionality to IPM, which allows admins to setup regional calendars containing events. These events can then be taken into account for the predictions and insights generated, helping to add context that IPM may not be aware of from the data. Calendars and events can be setup in the Configure card, under IPM.

Configuring Calendars

Calendars can be setup to allow for different events to be assigned depending on the region or time. For example, an event for Christmas may only apply to EMEA/US, so we’d need a different calendar for those regions.

Calendars can also be defined for a range of time series, e.g. Daily, Weekly, Monthly or Quarterly, depending on your period setup. They can also be setup to skip whole years, e.g. use FY19, skip FY20-FY22 and pick up from FY23 onwards.

Configuring Events

Events allow you to build additional context into the prediction and they must be associated with a calendar. There are 3 different types of events available:

  • One-off – An event you don’t expect to be repeated, but do want to include it in the data
  • Repeat – An event that is regularly repeated, where increases or decreases will also be repeated, e.g. Christmas
  • Skip –an event you don't expect to be repeated, and don't want to include in the data. Data for Skip events is removed from the series.

In terms of identifying events, it could be useful to use the output of anomaly insights to feed into your events and provide context or skip that event.

As explained, this functionality requires some administrator configuration – this can either be done by an in-house EPM admin, or via our friendly Brovanture support desk. 

See my other blog here for more information on configuring IPM insights: https://lydia-maksoud-epm.blogspot.com/2022/06/introducing-ipm-insights.html 

 

 

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