Hi,
I am also looking for a best practice here. Integrating the Oracle database directly would be the easiest, but I guess it's not allowed due to licensing reasons. 
Therefore, I will probably create quick reports with the required information and read them out via the REST-API. The whole process can be automated and could be updated every x minutes.
Does anyone know an simpler way?

thanks for your reply, Hoehn. Is there any manual available for the REST-API?

I have found the following links useful:

https://dsj23.me/2021/01/08/ifs-authentication-flow-with-oauth-and-openid-connect/

https://docs.ifs.com/techdocs/Foundation1/050_development/024_integration/010_restful_odata/default.htm

If you are running on APP 10, it is possible to access IFS Oracle Database from Power BI. Of course, you cannot connect directly to the database. Power BI would drop down immediately due to huge amount of data. There are some steps which needs to be included to get data from database in to Power BI. 

1. Install Power BI Gateway. 2. Create new workspace in web Power BI environment 3. Create own Data flow utilizing Power BI Gateway connection 4. Create your own model and set scheduling for data transfer.