NetSuite Expands AI Capabilities for NetSuite Analytics Warehouse

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Sep 09, 2024, 18:06 ET

New advanced analytics features deliver faster insights to help businesses solve challenges and drive growth

LAS VEGAS, Sept. 9, 2024 /PRNewswire/ -- SuiteWorld -- Oracle NetSuite today announced the latest updates to NetSuite Analytics Warehouse - the first and only AI-enabled, prebuilt cloud data warehouse and analytics solution for NetSuite. The new AI features will help customers accelerate data analysis and gain the contextual insights needed to enhance decision-making and grow faster.

"For growing businesses, making sense of data can be a time-consuming process that may require advanced data science and coding skills. With limited resources, many businesses are not able to invest in these skills and miss out on valuable data insights," said Evan Goldberg, founder and executive vice president, Oracle NetSuite. "We're dedicated 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 and meaningful insights that can help improve decision-making."

Built on Oracle Analytics Cloud and Oracle Autonomous Data Warehouse, NetSuite Analytics Warehouse leverages AI to harness business data and identify opportunities to drive efficiency. The latest updates provide new AI tools and models to help customers analyze data more efficiently and gain predictive insights to improve forecasting. New NetSuite Analytics Warehouse capabilities include:

Auto-Insights: Help customers accelerate reporting and improve decision-making by generating data visualizations and natural language insights based on a dataset's attributes, measures, and other points of interest.
Explain: Help customers gain a greater understanding of 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 on data patterns, and the Assistant will create an answer and relevant data visualizations using Generative AI.
Out-of-the-box AI models: Help customers improve decision-making by enabling them to automate analysis with no-code models built for specific use cases that can predict scenarios, such as customer churn and inventory stockouts.
AutoML: Help customers improve insights and enhance 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 enhance decision-making by providing a collaborative interface to explore data visually and tailor ML models to address unique business needs.

Customer Success with NetSuite Analytics Warehouse
BirdRock Home is a manufacturer of home goods including furniture accents, storage, serveware, lawn and garden, and kitchen items. With more than half of its sales completed via ecommerce marketplaces like Amazon, BirdRock Home is using the new predictive model for customer churn in NetSuite Analytics Warehouse to help optimize its product strategy, improve customer experiences, and grow revenue while keeping existing customers engaged.

"Ecommerce marketplaces are extremely competitive environments, and it can be difficult for merchants to stand out and create brand loyalty," said Mark Chuberka, senior NetSuite administrator, BirdRock Home. "With predictive insights on customer churn, NetSuite helps us understand customer demand for specific product lines and forecast which new products will likely 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 is planned to be available within the next 12 months.

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About Oracle NetSuite
For more than 25 years, Oracle NetSuite has helped organizations grow, scale, and adapt to change. NetSuite provides an integrated system that includes financials / Enterprise Resource Planning (ERP), inventory management, HR, professional services automation and omnichannel commerce, used by more than 40,000 customers in 219 countries and dependent territories.

Future Product Disclaimer
The preceding is intended to outline our general product direction. It is intended for information purposes only, and may not be incorporated into any contract. It is not a commitment to deliver any material, code, or functionality, and should not be relied upon in making purchasing decisions. The development, release, timing, and pricing of any features or functionality described for Oracle's products may change and remains at the sole discretion of Oracle Corporation.

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Oracle, Java, MySQL and NetSuite are registered trademarks of Oracle Corporation. NetSuite was the first cloud company—ushering in the new era of cloud computing.

SOURCE Oracle NetSuite