SAP is to launch an appliance that it claims will perform real-time analysis on business data from operating systems, data warehouses and web applications such as social networks.
The SAP Business Analytic Engine will increase the availability of business information to allow companies to make decisions more rapidly, according to the software firm.
SAP will use its own in-memory database technology, currently available in its BusinessObjects Explorer software, and combine this with hardware from partners such as HP.
The Business Analytic Engine will also contain SAP data modelling and management software that will allow business users to instantly access the real-time data, the firm said.
SAP claimed that the appliance will automatically find the right data as soon as it is connected to customers' IT systems.
The company gave the example of a financial services firm using the appliance to perform real-time risk management. Market exposure could be measured by combining credit scoring data with information from the internet.
"The combination of Business Analytic Engine with HP's server portfolio helps harness the power of information to create business insight and drive better decision making," said Tom Hogan, enterprise sales, marketing and strategy vice president at HP.
SAP chief technology officer Vishal Sikka added: "Imagine sitting at your desk or using your mobile device and being able to pull and analyse data instantly, and how that would improve every aspect of your work life.
"Our customers will be able to develop better business simulations and plans, do real-time inventory and price optimisations, or quickly evaluate the effect of currency changes in financial systems."
SAP made the announcement at its Sapphire Now conference being held simultaneously in Germany and Florida.