Artificial Intelligence, Data and Insights… The holy trinity of business intelligence… Even small business owners know the power that these three wield when it comes to seeking answers on customer retention, product insights, e-commerce and inventory.
Now leading cloud ERP vendor, NetSuite, has announced AI will be coming to the brand’s suite of cloud applications, paving the way for SMBs to take advantage of the machine based algorithms to gain valuable insights into their businesses.
Given many NetSuite users have bought into the brand’s entire product range, which includes e-Commerce, CRM, inventory management and more, the possibilities of combining all this data to deliver real-time analysis of the state of your business is enormous.
Jim McGeever, executive vice president, NetSuite, suggests the move to bring Ai to the platform is a world first and a game changer.
“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,” he says.
McGeever suggested NetSuite has a history of providing innovation to SMBs all over the globe.
“A pioneer in the cloud, NetSuite has long been a leader in providing powerful business intelligence across its suite,” he said.
Speaking at NetSuite’s annual conference, Suiteworld, McGeever suggested businesses utilising the power of AI to drive business models and predict outcomes, was the way forward.
It was a sentiment backed up by Tony Drockett, founder of luxury brand Hammit, who described data as 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,” Drockett said.
Analyst and founder of Constellation Research R Ray Wang suggested AI would soon become essential for businesses to “deliver predictive, prescriptive and automated outcomes”.
“A future where AI drives new business models is quickly becoming the present,” Wang concluded.