During the EPM Roadmap and Strategy session, Oracle gave a lot of time to the subject of millennials. I tweeted twice from that event with the following:
“Only 33% of CEOs give their CFOs a passing grade in talent management due to their lack of effective people skills.”
If you want to know what Oracle EPM is using as a basis for their roadmap, it lies in millennials. Keep them engaged and interested.
To me, I see this as one of the main reasons for Oracle moving EPM to the cloud, outside of Oracle’s company direction. Or is the company direction because of millennials? For user adoption to continue to take place, the tools need to update. No surprise there. What surprised me was that Oracle seems to be using millennials as the basis for their change. And after a few days of reflection, it makes complete sense. Millennials will be the ones making product decisions in next 5 years. If they see an antiquated, on-premises product as the only solution from Oracle, yet the competitors are offering a product that can be accessed from any computing device (laptop, mobile or whatever), they will naturally gravitate towards that product. It’s in their DNA – right, wrong or indifferent.
So why the big switch? A constant revenue stream for Oracle from the millennials . They are not going to revert to the old solutions, even if they are best in breed according to Gartner. Millennials don’t care about Gartner. They care about what is in front of them. If they have to sign onto their laptop or server to do a simple approval task, that solution is no longer a solution. It’s a frustratingly long task for something so simple. If they can set up the VPN on their iPad and take care of it via a couple taps on the screen, they are hooked.
If you want to predict where Oracle is going in the next 5-10 years, look at the habits, buying trends and work styles of millennials. Oracle will be catering to them, so you can choose to fight the millennials or learn to think like they do.
Oracle is predictable. Are you adaptable?