NetSuite Analytics Warehouse provides AI-powered insights to help retail brands innovate and grow faster
AUSTIN, Texas, Jan. 16, 2024 /PRNewswire/ — Retail businesses are turning to Oracle NetSuite to unlock value from their data, increase efficiency, and remain competitive. With NetSuite Analytics Warehouse, NetSuite customers including Feetures, Hudson&Canal, Thread, and many others have gained the insights needed to improve customer experiences and grow their businesses.
With industry-leading ERP capabilities for financials, CRM, inventory and order management, and omnichannel commerce, NetSuite helps retail businesses improve productivity and deliver exceptional customer experiences. When paired with NetSuite Analytics Warehouse, NetSuite helps retailers centralize business data and gain AI-backed insights to improve operations and identify opportunities for growth.
“To keep up with shifting consumer demands, increasing industry competition, and on-going economic uncertainty, retailers need agile processes and fast access to business insights,” said Sam Levy, senior vice president of growth and operations, Oracle NetSuite. “With NetSuite Analytics Warehouse, retailers can quickly make sense of business data to make more informed decisions to help manage costs, attract new customers, and create new revenue streams.”
Retail businesses that are leveraging NetSuite Analytics Warehouse include:
Feetures Hits its Stride with NetSuite Analytics Warehouse
Founded in 2002, Feetures is a family-run retailer of specialty socks designed for athletic performance. Today, Feetures sells its footwear in stores such as Dick’s Sporting Goods, Nordstrom, and athletic specialty outlets, as well as its own ecommerce site and Amazon. With NetSuite Connector, Feetures is able to link its ERP and Shopify workflows to understand SKU-level product performance. In addition, with NetSuite Analytics Warehouse, Feetures can consolidate and analyze data from NetSuite, Shopify, Google Analytics, and other business systems, and better understand near and long-term trends in consumer buying behaviors, inventory, and financial performance.
“As we continue to grow our global footprint, data visibility is critical to our financial and operational success,” said Daniel Roath, IT manager, Feetures. “NetSuite helps centralize our data and provides automated insights to help fine-tune product strategies, improve cash flow forecasting, and optimize warehouse staffing.”
Hudson&Canal Delivers Data-Driven Home Furnishings with NetSuite Analytics Warehouse
Founded in 2017, Hudson&Canal is a B2B ecommerce manufacturer of home furnishings that supplies retailers including Wayfair, Overstock, Best Buy, and Amazon. With NetSuite Analytics Warehouse, Hudson&Canal can integrate data from NetSuite, ecommerce retailers, logistics providers, and its product management systems to identify growth opportunities as well as make smarter decisions about new products to bring to market. NetSuite has also helped automate Hudson&Canal’s invoicing and inventory workflows. For example, Hudson&Canal was able to reduce time spent analyzing landed costs and accruals from four hours to ten minutes each week.
“As our business has grown, the number of data sources has also escalated. NetSuite helps us make sense of the data, improves productivity, and enhances team collaboration,” said Marc Sculler, chief executive officer, Hudson&Canal. “Data-driven insights from NetSuite have helped us analyze sales performance, right-size inventory, and further optimize profit margins.”
Thread Bags New Insights with NetSuite Analytics Warehouse
Founded in 2014, Thread started as a direct-to-consumer ecommerce site selling wallets before expanding into bags, lanyards, and other accessories and adding mall kiosks and wholesale distribution channels. NetSuite provides a single cloud business system to consolidate and automate supply chain, sales, and financial processes across its product portfolio and sales channels. With NetSuite Analytics Warehouse’s machine learning capabilities, Thread combines data from NetSuite, Shopify, and Google Sheets to analyze historical trends, optimize sales forecasting, and improve demand planning.
“To continue our rapid growth, we needed accurate and real-time data visibility across all our sales channels,” said Mitch Sanders, chief operating officer, Thread. “With automated insights from NetSuite Analytics Warehouse, we can anticipate buying behaviors, ensure the timely fulfillment and delivery of inventory, and avoid the risk of stockouts or overstock.”
About Oracle NetSuite
For more than 25 years, Oracle NetSuite has helped organizations grow, scale, and adapt to change. NetSuite provides an integrated system that includes financials / Enterprise Resource Planning (ERP), inventory management, HR, professional services automation and omnichannel commerce, used by more than 37,000 customers in 219 countries and dependent territories.
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SOURCE Oracle NetSuite