The importance of data analytics for growing businesses

Data needs to be the driving factor for any business of any size and any industry. More important, that data needs to be analysed in a timely manner in order to make crucial business decisions.

This is where growing companies tend to fall off course. When a business is seeing exponential growth, every detail is important and it can’t rely on outdated information. It needs access to real-time data that can be analysed at the moment to drive continued success.

Correct and well-timed analytics are the basis of any important business decision. With the right metrics, a business can be confident that the choices they make to grow are substantiated by accurate and timely information. Better yet, when used properly, analytics enables businesses to recognise patterns that can predict and work towards the best possible outcomes.

SuiteAnalytics is an out-of-the-box analytics offering that NetSuite provides for embedded business intelligence. Oracle NetSuite is a leader in delivering embedded analytics that

enables customers to discover hidden information that can be used to make critical decisions, enforce business processes and gain meaningful insight into company performance across multiple departments, teams and subsidiaries. 

This solution has a self-serve, personalised UI with easy-to-use search and reporting tools. Its customisable reporting capabilities look less like a spreadsheet and more like a friendly, familiar tool. It delivers information in real-time at no added cost, eliminating the need for developers and IT to deal with separate reporting tools.

With SuiteAnalytics, non-technical users can get real-time insight without waiting for IT. The user interface is designed for business users with limited or no technical knowledge of database schemas. Query language can easily create complex queries, joins, pivot tables and charts through actions such as drag-and-drop editing. Other advancements for non-technical users include:

1. A brand-new, consumer-oriented user experience.
2. Improved ease: there’s drag-and-drop editing, filtering, and easy setup.
3. Rich visualisations, formatting, charting and layouts, delivering insights that are not only more accurate but easier to understand across the organisation.
4. Dynamic interaction with live data
5. Instant previews.

The new SuiteAnalytics leverages a new unified metadata layer within NetSuite, allowing users to understand the business context of the data rather than traditional record views. For more technical users, the enhancements include:

1. Multi-level Business Entity joins
2. Ability to build queries on top of queries
3. Pivoting capabilities
4. A unified view of the entire solution
5. Significant performance improvements.

NetSuite SuiteAnalytics provides real-time Saved Searches, Reporting, Key Performance Indicators (KPIs) Dashboard and Workbook features that are built into NetSuite solution. Features of the Workbook include:

• Pivoting to understand details behind the data better, comparing performance, identifying trends and issues, and making good decisions quickly.
• Charting to enable decision-makers to see analytics presented visually, so they can grasp difficult concepts or identify new patterns including drill down into charts and graphs for more detail.
• An intuitive user interface to enhance the user experience by giving instant access to important data including creating and editing Workbooks and charts on the fly.
• Updated data model with the ability to define multiple joins, support of custom fields.