Oracle expands its commitment to Artificial Intelligence and Machine Learning NetSuite for Applications launches the world's first intelligent cloud suite.
What does this mean?
Companies of any size will be able to manage their business through projections based on advanced artificial intelligence and data science techniques.
How does the intelligent cloud work?
Given the current reality, companies can no longer rely on retrospective data or traditional systems of... Business intelligence To grow, scale, and successfully adapt to change, Oracle NetSuite has built upon its existing native BI functionality, incorporating advanced machine learning and sophisticated data science into its unified cloud suite, delivering the real-time insights that businesses need today.
The new intelligent cloud combines Oracle NetSuite and third-party data to enable businesses to make proactive and timely decisions and take action directly within the NetSuite application.
The new features based on artificial intelligence and in machine learning algorithm They allow companies to gain better insights by further automating processes and determining the best course of action with predictive actions. The intelligent cloud suite can offer benefits to business users across the organization, such as:
Finance professionalsartificial intelligence and machine learning algorithm They enable finance professionals to improve audit risk analysis, analyze the history of past payments with suppliers and customers, and increase cash flow forecasts.
Human Resources Professionals: With the new tools, these professionals will be able to create profiles of the best candidate based on existing top employees, predict high performers who may pose a turnover risk, and better automate employee self-service.
Supply Chain Professionals: artificial intelligence and machine learning algorithm They offer supply chain professionals the potential not only to identify risks or potential future problems in the supply chain, but also to provide potential solutions to these problems.
Manufacturing professionals: By using these tools, manufacturing professionals can optimize warehouse work schedules based on past performance or projected demand and identify machines that need maintenance before they become a problem.
Trade professionals: Retail professionals can significantly increase research and improve online sales and conversions by providing products based on key indicators such as past purchases, search history, and similar buyer results.
Customer service professionals: artificial intelligence and machine learning algorithm They provide customer service professionals with more accurate results regarding total customer lifetime value using cost forecasts for the support organization, anticipated satisfaction, and information on a customer's renewal likelihood.
Marketers: These professionals can optimize campaigns by identifying which type of campaign leads to higher conversion rates. It's also possible to identify data such as frequency and type of sales based on demographic information.
Sales professionalsFor sales teams, these tools will be useful in intelligent interactions that guide agents through the sales process, personalizing them for the potential customer, the product, and upselling and cross-selling opportunities.
How is the intelligent cloud applied?
Intelligence is applied to NetSuite in three main ways:
Insights It is possible to predict what might happen based on correlations found in the data, such as which customers are more likely to pay invoices late or which projects are more likely to go over budget.
Intelligent automation It is possible to learn a task that users perform repeatedly and do it for them, presenting only the exceptions to their attention.
Intelligent interaction This application makes it possible to make the time users spend interacting with Oracle NetSuite as efficient and productive as possible. For example, by suggesting useful content to add to the dashboard or by pre-selecting the most likely responses in the forms used.
Finally, in a recent press release, Jim McGeever, executive vice president of Oracle, said: “With new artificial intelligence and machine learning capabilities in NetSuite, we are equipping our customers to understand not only what has happened to their businesses, but what will happen in the future and how they can stay ahead.”
This is the future of business management!
