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AI now plays big role in business



Despite its late entry in artificial intelligence, enterprise software provider Oracle NetSuite is now natively building powerful AI and machine learning-based capabilities within its leading cloud business management suite.


A move in this direction could provide its customers with the tools and insight required to meet rapidly evolving business demands such as delivering the insight, interaction, and automation needed to grow NetSuite’s business clients.


 “A pioneer in the cloud, NetSuite has long been a leader in providing powerful business intelligence across its suite,” said Jim McGeever, executive vice president, Oracle NetSuite. “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.”


Businesses can no longer rely on backward-looking data or traditional business intelligence (BI) systems to successfully grow, scale and adapt to change. To provide the real time-insights businesses need today, NetSuite has built upon its existing native BI functionality by incorporating advanced machine learning and sophisticated data science within its unified cloud suite. The new intelligent cloud combines NetSuite and third-party data to enable businesses to make proactive and timely decisions and take action from right within the NetSuite application.

The new artificial intelligence and machine learning based capabilities enable businesses to glean better insights, drive efficiencies by further automating processes and determine the next best action with predictive actions. The intelligent cloud suite can deliver benefits to business users across the organization.


Innovations, solutions

In line with AI and machine learning, NetSuite added a series of other new innovations to help organizations across industries drive growth, reduce costs and quickly and easily achieve the benefits of cloud computing. The latest innovations within the NetSuite platform include new SuiteSuccess industry cloud solutions, enhanced financial management, HR and supply chain capabilities, new innovations for product and service companies, and a powerful new data analytics solution.


Successfully growing a business has never been harder. New technologies, rapidly shifting consumer expectations and evolving industry regulations continue to change the game. For business leaders, this can feel like a no-win situation, particularly as competition continues to increase and results are under the microscope.


The latest innovations from NetSuite help business leaders navigate this change, overcome the barriers to growth and successfully scale by delivering industry best practices, new customer engagement models and business optimization methods, more than 20 major enhancements to core business applications and powerful data processing and visualization capabilities.


“Many companies are able to get their businesses up and running only to struggle when the time comes to reach the next stage of growth,” said McGeever. “With continuous innovation, we give our customers the tools to overcome the barriers to growth.”


New industry cloud solutions

To deliver faster time to value, increased efficiency and provide the flexibility to foster growth and customer success, NetSuite introduced 14 new editions of SuiteSuccess. A unified, and pre-configured industry cloud solution, SuiteSuccess is built on industry leading practices, combining deep domain knowledge with pre-built KPIs and dashboards. The latest editions are designed to meet the unique requirements of micro-verticals and span a variety of specific industries, company sizes and maturity in the cloud ERP journey.


NetSuite also introduced more than 20 major enhancements to its core application. The enhancements include new industry-specific capabilities for product and services companies as well as innovative HR and financials functionality.


SuiteAnalytics

And to help customers make better business decisions, NetSuite introduced new SuiteAnalytics capabilities, including a powerful consumer grade data exploration tool that brings rapid, secure and meaningful data exploration capabilities to non-technical users enabling them to gain real-time insight into the business without needing to wait for data warehouses to be updated, outdated reports to be written our moving large amounts of important company data to unsecure spreadsheets.


“We’re really encompassing all the capabilities that we had in our previous generation of analytics; search and reporting… and we’re doing it across the entire suite,” said Evan Goldberg, executive vice president for software development and founder of NetSuite, in a round table interview with Philippine media. “And we did it from the ground up approach so it would work… it turned out to be very hard, but we think that all that effort is paying off because it’s going to be a very complete solution, a high performance solution, a really flexible solution for people to get the best insights out of NetSuite.”

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