New advanced analytics capabilities deliver faster insights to help businesses solve challenges and drive growth
LAS VEGAS, September 9, 2024 /PRNewswire/ — SuiteWorld — Oracle NetSuite today announced the latest updates to NetSuite Analytics Warehouse – the first and only pre-configured, AI-enabled cloud data warehousing and analytics solution for NetSuite. New AI capabilities will help customers accelerate data analysis and gain the contextual insights needed to improve decision-making and accelerate growth.
“For growing businesses, making sense of data can be a time-consuming process that can require advanced data science and coding skills. With limited resources, many businesses are unable to invest in these skills and are missing out on valuable data insights,” said Evan GoldbergFounder and Executive Vice President of Oracle NetSuite. “We are committed to helping businesses of all sizes unlock the full potential of their data. The latest updates to NetSuite Analytics Warehouse will help customers automate data analysis and leverage AI to produce fast, meaningful insights that can help improve decision-making.”
Built on Oracle Analytics Cloud and Oracle Autonomous Data Warehouse, NetSuite Analytics Warehouse leverages AI to mine business data and identify opportunities to improve efficiency. The latest updates provide new AI tools and models to help customers analyze data more effectively and gain predictive insights to improve forecasting. New capabilities in NetSuite Analytics Warehouse include:
- Auto-Insights:Help customers accelerate reporting and improve decision making by generating data visualizations and natural language insights based on attributes, metrics, and other points of interest in a data set.
- Explain: Help customers better understand their business by leveraging AI to identify meaningful business drivers, contextual insights, and data anomalies.
- Oracle Analytics AI Assistant: Helps customers streamline data discovery through conversational interactions; where customers can ask questions about data models, and the assistant will create a response and relevant data visualizations using generative AI.
- Ready-to-use AI models: Help customers improve decision making by enabling them to automate analysis with no-code models designed for specific use cases that can predict scenarios, such as customer churn and stock-outs.
- AutoML: Help customers improve insights and increase efficiency without requiring technical AI skills by automating algorithm selection and customizing modeling workflows.
- Oracle Machine Learning: Help customers improve algorithm performance, expand insights, and improve decision making by providing a collaborative interface to explore data visually and customize ML models to meet unique business needs.
Customer Success with NetSuite Analytics Warehouse
BirdRock Home BirdRock Home is a manufacturer of home goods including furniture accessories, storage, serveware, lawn and garden, and kitchenware. With over half of its sales coming from e-commerce marketplaces like Amazon, BirdRock Home uses the new predictive customer churn model in NetSuite Analytics Warehouse to optimize its product strategy, improve the customer experience, and grow revenue while retaining existing customers.
“E-commerce markets are extremely competitive environments and it can be difficult for merchants to differentiate themselves and retain customers,” said Mark Chuberka, senior director of NetSuite at BirdRock Home. “With predictive insights into customer churn, NetSuite helps us understand customer demand for specific product lines and predict which new products are likely to drive continued growth.”
Availability
New features including Auto-Insights, Explain, Oracle Analytics AI Assistant, AutoML, and Oracle Machine Learning are now available. Out-of-the-box AI models for NetSuite Analytics Warehouse are expected to be available within the next 12 months.
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About Oracle NetSuite
For more than 25 years, Oracle NetSuite has helped businesses grow, evolve, and adapt to change. NetSuite provides an integrated system that includes financials/enterprise resource planning (ERP), inventory management, human resources, professional services automation, and omnichannel commerce, used by more than 40,000 customers in 219 countries and dependent territories.
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The above information is intended to describe the general direction of our products. It is provided for informational purposes only and may not be incorporated into any contract. It does not constitute a commitment to deliver any hardware, code, or functionality and should not be relied upon to make purchasing decisions. The development, release, timing, and pricing of any feature or functionality described for Oracle products are subject to change and remain at the sole discretion of Oracle Corporation.
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SOURCE Oracle NetSuite