One could make a strong argument for a simple fact: better business analytics lead to more successful businesses. It comes down to making decisions based on facts, with the relevant information at hand, and it’s what leaders in every industry rely upon for the decisions which mark the road to success.
Nearly every business uses some form of business intelligence, such as the reporting systems for data analysis. NetSuite does the job better than it’s ever been done before, with the data you need at your fingertips.
Read on to learn more.
What are Analytics?
When you test drive a decision or product before launch, when you have specifics to backup your hunches, when you make decisions based on statistics, you utilize business analytics (BA) on at least some scale. Business Intelligence (BI) analyzes an performance area--from sales and fulfillment to customer interaction with a website, and provides performance data. Predictive analytics apply statistical algorithms to historical data--leading to better decisions in the future.
Companies which utilize analytics soar--Amazon, Kroger and Chevron, to name a few. Industries which fail to utilize analytics tend to suffer; just think about the unpredictable prices and even outcomes in the medical world, where useful data gets lost (or applied anecdotally), when a more data-centered approach could benefit everyone.
Of course, random data is no more useful than no data. The key performance indicators (KPI’s) for each part of an organization, and that organization as a whole, are invaluable. That’s where many systems fall down-- they are just too cumbersome, spread out, or inaccurate to be useful in decision making.
What you need is the right data, in real-time, in one location, tailored to each end-user. That’s analytics with NetSuite.
Analytics with NetSuite
When leadership understands the value of analytics for better decision making, they demand facts and KPI’s. Fortunately, the personalized dashboards in NetSuite make it simple to customize the relevant data for each member of any size company or organization. With SuiteAnalytics it’s possible to:
- Automate busy work and centralize reporting
- Get everyone on the same page
- View data in real time
- Test drive changes on a small scale before launch
- Gather the data to back a hypothesis for any area
- Customize metrics to best serve any aspect of your business
What’s more, the easy reporting tools in NetSuite do not require programming knowledge or analytics expertise to utilize. With more than 40,000 companies or organizations around the globe using NetSuite, there have evolved a tremendous number of specific roles/users in nearly every industry, making it simple to set up a user profile that suits the needs of every team member, from administrative personnel to management and the c-suite. Access is also easily managed, for privacy control (such as sensitive HR data) with each user profile.
You get the data you need, just the data you need, at the moment you need it.
Taking Decision-Making to the Next Level
If you have run or built a business, you know the value of your decision-making power.
You have the faculties with which to achieve the next level of success. You employ the team to partner in your success. When you empower each team member with the intuitive and graphical toolset of SuiteAnalytics, you make it possible for them to self-serve the real-time analytics in any area--financials, orders, customers, opportunities and more. No separate warehousing of data needed. No cumbersome cross-checking across disparate software and systems. No “holes” where metrics do not exist for key performance areas.
That combined power translates into unprecedented accuracy in reporting, data gathering and analysis. Contact us to learn more.