NetSuite customers know the value of the insights provided by their ERP systems. Viewing current dashboards and seeing the latest KPIs calculated by NetSuite helps business leaders stay on top of finance and operations every day.
Savvy leaders also know that the value of data doesn’t stop with current numbers. The history of the business as told through all its data provides insights into ongoing operations and guidance on predicting future revenues and outcomes.
Attempts at broad-scale data analysis using spreadsheets typically end in failure because spreadsheets aren’t designed to work like a database — they simply can’t reliably handle complex analyses of large and growing data sets. That’s why enterprises gave up on Excel for business analytics well over a decade ago, opting instead to store all relevant data in data warehouses and employ business intelligence systems to do deep and broad analysis.
That works so well that most large companies now have teams of business analysts constantly building data models and combing through data visualizations. The goal: Find new insights into business operations that help these big companies get even bigger.
But for emerging businesses, populating a data warehouse, creating data storage models, and building out analytics to study their data is simply too costly and time-consuming to be practical. That’s led them to miss out on the many benefits of deep data analysis that bigger rivals enjoy.
Leveling the Field
NetSuite Analytics Warehouse solves both the cost and complexity problems for NetSuite customers. Based on industry-leading technology, including Oracle Autonomous Data Warehouse and Oracle Analytics Cloud, NetSuite Analytics Warehouse is the perfect place to store your past and present data and to add new data in the future.
But just as importantly, NetSuite data models have already been built into NetSuite Analytics Warehouse. Once your instance is connected, your standard transaction and data types used in NetSuite will be immediately recognized, stored, and kept ready for analysis. There’s no need to create a new data model for your NetSuite data.
With each new release of NetSuite Analytics Warehouse, you’ll gain faster time to broader business insights. In 2023 Release 1, customers have access to nearly 90% of NetSuite transactional record types and can enhance their analyses with new data sets in areas like sales, inventory, financials, purchases, and support management. For example, the new Cross Charge Journal data set helps finance track cross charges between subsidiaries providing business services to each other. And the Inventory Status Change data sets help manufacturers track inventory attribute changes, like item availability, quality inspection status, and work order status. These new datasets are automatically refreshed daily and kept ready for use.
To kickstart your data analysis, 2023.1 expands the collection of prebuilt analytics to include industry-specific dashboards and visualizations for professional services businesses, software vendors, and manufacturers.
Finally, we know that while a lot of the data generated by your finance and operations teams resides in NetSuite, it’s not the only source of data your company needs to analyze. NetSuite continues to provide and enhance NetSuite Analytics Warehouse integration with other data sources. In this release, customers gain direct connections to three of the most used cloud applications: Salesforce, Shopify, and Google Analytics. The new connector provides a much faster flow of data than the previous integration, which used Oracle Analytics Connector.
Other applications can be connected either through the use of CSV files or spreadsheet imports. That’s particularly useful for datasets that are no longer growing, as may be the case for legacy applications you keep running for no other reason than to preserve the data they hold.
NetSuite Analytics Warehouse also now provides a REST-based interface for importing data from other active data sources. The API provides a dependable way to import data from custom applications, for example.
NetSuite Analytics Warehouse is currently available in the United States, Canada, UK, and Australia.
Learn More About all the Updates in NetSuite 2023 Release 1
NetSuite 2023 Release 1 contains a host of exciting new enhancements. For more information on the full list of features and how to use them, be sure to check out the release notes(opens in new tab).
Most importantly, don't forget to request your Release Preview(opens in new tab) test account for hands-on access to see how new features will work with your data, workflows and customizations.
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.