Cloud Suite Will Deliver Insights, Intelligent Interactions And Automation, powered by AI/ML
Oracle NetSuite announced the world’s first intelligent cloud suite by combining dynamic artificial intelligence and machine-learning based capabilities into its business management suite. NetSuite can now deliver interaction, automation, and insights which customers require to grow their business.
Business can no longer lean on traditional Business Intelligence (BI) systems to successful grow or adapt to change. For real-time insights which businesses require today, NetSuite has rebuilt their existing BI functions by implementing highly advanced machine learning and data science for its unified system. Combining third party data and NetSuite will now help businesses make proactive spot-on decisions through the NetSuite application.
A pioneer in the cloud, NetSuite has long been a leader in providing powerful business intelligence across its suite. With new artificial intelligence and machine learning capabilities within NetSuite, we’re equipping our customers to understand not only what’s happened with their business, but what will happen in the future and how they can stay ahead,” said Jim McGeever, executive vice president, Oracle NetSuite.
“A future where AI drives new business models is quickly becoming the present. Having business applications that can deliver predictive, prescriptive and automated outcomes is going to be an imperative for businesses that want to grow and succeed in the years to come,” said R “Ray” Wang, principal analyst and founder, Constellation Research.
“Data is the new gold. With NetSuite, we have real-time insights and visibility into all of our key performance indicators, enabling us to make lightning-fast decisions. Building on intelligence and automation will make using NetSuite easier and more powerful than it already is,” said Tony Drockton, Founder and CEO of Hammitt, a Los Angeles-based luxury accessories brand.
Automation processes can now create better predictions with the NetSuite app. The intelligent cloud suite can deliver benefits to business users across the organization.
Finance and Procurement Professionals: AI and machine learning enables finance professionals to improve audit risk analysis, analyze past payment history with vendors and customers. It also helps enhance cash flow predictions, a key pain point for growing businesses.
HR Professionals: NetSuite enables HR professionals to create profiles of the best candidate based on existing top performers, predict high performers who might be a potential risk and better automate employee self-service by identifying what questions employees might have based on role, time of year or other factors.
Supply Chain Professionals: AI and machine learning offers supply chain professionals the potential to not only identify risks or potential upcoming problems in the supply chain but it also provides solutions.
Manufacturing Professionals: AI and machine learning helps professionals optimize labour schedules in the warehouse which is based on past performance or predicted demand. It also identifies machinery in need of maintenance before it becomes a problem.
Commerce Professionals: AI and machine learning helps commerce professionals significantly boost search and improve online sales. It measures conversions by serving products to customers who are more likely to buy based on key indicators such as past purchases, search history and results of similar buyers.
Customer Services Professionals: AI and machine learning provide customer service professionals with more accurate results based on total customer lifetime value.
Marketing Professionals: AI and machine learning help marketers improve campaign optimization. It identifies the type of campaigns which lead to a conversion, the frequency it creates and what type of sale can be achieved based on demographics.
Sales Professionals: AI and machine learning for sales teams support intelligent interactions guiding agents through the sales process, prospect personalization and other cross-product selling.