NetSuite Unveils Intelligent Cloud Suite
Oracle NetSuite today launched its intelligent cloud suite, with artificial intelligence and machine learning-based capabilities.
"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 of Oracle NetSuite, in a statement. "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."
NetSuite has built upon its existing native business intelligence functionality by incorporating machine learning and 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 the following CRM business users :
- Commerce Professionals: AI and machine learning helps commerce professionals significantly boost searchandising and improve online sales and conversions by serving up products customers are more likely to buy based on key indicators, such as past purchases, search history, and results of similar buyers.
- Customer Services Professionals: AI and machine learning provide customer service professionals with more accurate results around total customer lifetime value by using predictions of costs to the support organization, anticipated satisfaction, and information on a customer's likelihood of renewal.
- Marketing Professionals: AI and machine learning help marketers improve campaign optimization by identifying which type of campaigns lead to conversions by how often and by sale type based on demographics, a profile within the customer base, and activity on the website, at events, or other available data points.
- Sales Professionals: AI and machine learning for sales teams support intelligent interactions, guiding agents through the sales process, personalizing it for the prospect, the product, and upsell and cross-sell opportunities.
The product suite also offers technologies for employees in finance, procurement, human resources, supply chain, and manufacturing jobs.