20 Oracle Enterprise Performance Management Interview Questions and Answers

Oracle Enterprise Performance Management (EPM) is a cloud-based application that helps organizations manage and monitor their business performance. When applying for a position that uses Oracle EPM, you can expect to be asked questions about your experience and knowledge of the application. In this article, we review some of the most common Oracle EPM interview questions and provide tips on how to answer them.

Oracle Enterprise Performance Management Interview Questions and Answers

Here are 20 commonly asked Oracle Enterprise Performance Management interview questions and answers to prepare you for your interview:

1. What is Oracle Enterprise Performance Management?

Oracle Enterprise Performance Management (EPM) is a suite of business intelligence and performance management applications from Oracle Corporation. It includes a variety of tools for planning, budgeting, forecasting, and financial consolidation.

2. Can you explain what financial consolidation and close cloud service is in the context of EPM Cloud?

Financial consolidation and close cloud service is a cloud-based solution that helps organizations automate and streamline their financial consolidation and close processes. The service includes a number of features, such as the ability to consolidate multiple entities, support for multiple currencies, and the ability to close the books faster.

3. How does Oracle provide transparency into performance metrics for business operations?

Oracle provides transparency into performance metrics for business operations by offering a variety of tools that allow users to view data in real time, create custom reports, and set up alerts to notify them when specific conditions are met. These tools give users the ability to see how their business is performing at all times and make changes as needed to improve performance.

4. What are the functions of a financial data management system?

A financial data management system is responsible for the capture, storage, and analysis of financial data. This data can be used to support financial reporting, budgeting, and forecasting activities. The system can also be used to support other decision-making processes within the organization.

5. What do you understand about real-time reporting with Oracle EPM?

Real-time reporting with Oracle EPM refers to the ability to generate reports based on data that is constantly being updated. This is in contrast to traditional reporting, which is based on data that is only updated periodically. Real-time reporting can be used to track the performance of a business in near-real time, and can be used to make decisions that can improve the bottom line.

6. What do you understand about enterprise risk management systems?

Enterprise risk management systems help organizations to identify, assess, and manage risks that could potentially impact the achievement of their business objectives. These systems can provide a framework for identifying and prioritizing risks, as well as for developing and implementing strategies for mitigating or managing those risks.

7. What do you understand by talent management systems?

Talent management systems are software solutions that help organizations identify, attract, develop, and retain the best employees. These systems typically include a variety of modules, such as applicant tracking, performance management, learning management, and compensation management.

8. What’s your understanding of project portfolio management?

Project portfolio management is the process of selecting, prioritizing, and managing projects in order to achieve specific organizational goals. In order to do this effectively, organizations need to have a clear understanding of what their goals are and what projects will help them to achieve those goals. Once projects have been identified, they need to be prioritized in order to ensure that the most important projects are given the attention and resources they need to be successful. Finally, once projects are underway, they need to be managed effectively in order to ensure that they stay on track and meet their objectives.

9. Can you explain what an asset lifecycle management system is?

An asset lifecycle management system is a tool that helps organizations keep track of their assets throughout their entire life cycle. This includes everything from acquisition and deployment to maintenance and disposal. By tracking all of this information, organizations can more effectively manage their assets and ensure that they are getting the most out of them.

10. What are some common use cases for Oracle EPM?

Oracle EPM can be used for a variety of purposes, including financial consolidation, financial reporting, budgeting and forecasting, and financial analysis.

11. What is Oracle Planning and Budgeting Cloud Service?

Oracle Planning and Budgeting Cloud Service is a cloud-based solution that helps organizations plan, budget, and forecast their financial performance. The service provides a unified view of an organization’s financial data, and offers a variety of tools and features to help users create and manage their budgets.

12. What’s the difference between Hyperion Essbase and Oracle Enterprise Performance Management?

Hyperion Essbase is a database management system designed for multidimensional data analysis, while Oracle Enterprise Performance Management is a complete performance management system that includes a suite of tools for financial consolidation, planning, and reporting.

13. What are the advantages over using on-premises software to manage enterprise performance?

The advantages of using Oracle Enterprise Performance Management (EPM) Cloud over on-premises software include:

-EPM Cloud is a subscription service, so there are no upfront costs or long-term commitments.
-EPM Cloud is updated automatically with the latest features and security patches, so you always have the latest version.
-EPM Cloud is scalable and can be customized to meet the specific needs of your organization.
-EPM Cloud is accessible from anywhere with an internet connection, so you can manage enterprise performance from anywhere in the world.

14. What are the main components of Oracle Data Visualization Desktop?

The main components of Oracle Data Visualization Desktop are the Data Visualization Modeler, Data Visualization Viewer, and Data Visualization Dashboard Builder. The Data Visualization Modeler is used to create data models that can be used by the Data Visualization Viewer and Data Visualization Dashboard Builder. The Data Visualization Viewer is used to view data models created in the Data Visualization Modeler. The Data Visualization Dashboard Builder is used to create dashboards from data models created in the Data Visualization Modeler.

15. What is the significance of Oracle Financial Consolidation and Close Cloud?

Oracle Financial Consolidation and Close Cloud is a cloud-based solution that helps organizations streamline their financial consolidation and close processes. The solution provides users with a centralized platform to manage all aspects of the consolidation and close process, from data collection and consolidation to reporting and analysis. Oracle Financial Consolidation and Close Cloud can help organizations improve their financial reporting accuracy and efficiency, while reducing the time and cost associated with traditional on-premise solutions.

16. What is the role of Oracle Fusion HCM in managing enterprise performance?

Oracle Fusion HCM is a cloud-based solution that helps organizations manage their human capital. It provides a unified view of an organization’s workforce, and includes tools for managing employee performance, compensation, and talent. Oracle Fusion HCM can help organizations to better align their workforce with their business goals, and to improve their overall performance.

17. What is the purpose of Oracle Profitability and Cost Management Cloud?

The Oracle Profitability and Cost Management Cloud is designed to help organizations better understand their costs and profitability. It does this by providing a centralized repository for cost and profitability data, as well as a suite of tools for analyzing that data. The goal is to help organizations make better decisions about where to allocate their resources in order to improve their bottom line.

18. What is the function of Oracle Strategic Workforce Planning Cloud?

Oracle Strategic Workforce Planning Cloud is a cloud-based application that helps organizations plan for their future workforce needs. It does this by taking into account factors such as projected growth, turnover, and skills gaps. The application then provides recommendations on how to best allocate resources in order to meet these future needs.

19. What is the relationship between Oracle Transactional Business Intelligence and Oracle Enterprise Performance Management?

Oracle Transactional Business Intelligence (OTBI) is a feature of Oracle Enterprise Performance Management (EPM) that allows users to create real-time reports and dashboards based on transactional data. This data can come from any source, including Oracle E-Business Suite, Oracle PeopleSoft, Oracle Siebel, and custom applications.

20. What is the best way to create reports from multiple sources in Oracle Enterprise Performance Management?

The best way to create reports from multiple sources in Oracle Enterprise Performance Management is to use the Data Management feature. With Data Management, you can create a data model that includes all of the data sources you want to use in your reports. This will make it easy to pull data from multiple sources into a single report.