Oracle's NetSuite Analytics Warehouse (NSAW) and NetSuite Planning & Budgeting (NSPB) are two different solutions offered to enhance your existing NetSuite environment. On this page, we will learn more about what these two offerings are as well as what makes them different.
The NetSuite Analytics Warehouse is a cloud-based solution for a data warehouse and analytics processing tool all-in-one. Consolidate all your various data sources including your existing NetSuite data, CSV files, or other business systems into a single location.
Using Oracle Analytics Cloud and the Oracle Analytics Data warehouse you can perform analyses based on the built-in capabilities or have your business develop its custom analyses. View all your data in a unified, meaningful dashboard to be able to make accurate business decisions. These dashboards can even be personalized to individual users or groups who need the information and can truly rely on it. NSAW dashboards are created to provide clear visual representations of all your data that is managed in a single location.
From the dashboards, there is additional capability to drill down to the line-level detail which can also include the data source. Users can save time by utilizing the presentation-ready reporting functionality in the system that can be exported to PDF or other formats. If there are other reporting needs the detail itself can also be exported to excel for use.
This solution was designed for a swift deployment utilizing pre-built multidimensional NetSuite data objects to get your team the answers they need right away.
NetSuite Planning and Budgeting is a cloud-based solution developed to automate the planning and budgeting process. The system enables finance teams to build a more detailed budget quickly and develop an efficient and dynamic forecasting model creating more informed planning decisions.
NSPB is deployed with pre-built reporting and planning models for your team's convenience of getting started immediately after integrating with your existing NetSuite environment. The reports enable users to load data directly in the tool and the system consolidates your data to be viewed at all levels without any manual work or involving multiple users from various groups. Easily view your consolidated data live as it is being inputted or modified in the tool at any level. With the integration to your existing NetSuite data, you can view and compare your actuals for your planning and budgeting needs as well as utilize the existing actuals in the models to help build your budget or forecast.
Versioning is another key aspect built into the NSPB solution that enables the finance team to plan for various what-if scenarios or even to compare changes in your archived versions as you grow. Utilize your actuals for inputting trends or compare to various versions of your budgets or forecasts or all in one for an endless supply of informational data.
NSPB offers tools to enable driver-based revenue or expense models without relying on manual data entry or workbooks with unmanaged formulas. Some of the drivers in pre-built models include Travel and Expense, Units Times Price, and other deployable solutions. Workforce planning can also be enabled to further enhance your financial planning and budgeting needs.
In reviewing Oracle's NetSuite Analytics Warehouse (NSAW) and NetSuite Planning & Budgeting (NSPB) they both provide similar but different solutions for your business. NSAW is a tool to consolidate multiple data sources to a single location and then perform analytics on this information to make actionable business decisions on actual operational data. NSPB integrates with your existing NetSuite data to utilize the actuals data and enhance the planning and budgeting capabilities of your finance team. NSAW is being utilized to analyze historical data on how the business has performed. NSPB is designed to help see how the business will perform in the future.
Finance teams can utilize the reporting functionality of NSPB to perform an analysis of your historical NetSuite data, but NSAW takes it a step further by consolidating additional business and operational systems into a single location for even more detailed analysis. NSAW is not designed for planning and budgeting as it is not built for the input of data and only the consolidation of external data sources. NSPB includes pre-built planning and budgeting models, while NSAW includes the autonomous capabilities of Oracle Analytics Cloud.
In the end, if your main source of data is NetSuite then you can certainly utilize NSPB for both planning and budgeting as well as your analytics although there are additional analytics capabilities in NSAW. However, if you rely on many data sources it will be more useful to utilize the NSAW solution for your analytics needs while also utilizing NSPB for your forecasting needs. As an Oracle partner, MindStream can help your business review and decide on the best solution available.
To learn more about these solutions, contact us using the form below.
NetSuite SuiteSuccess offers a pathway for businesses to succeed by engaging with them continuously throughout their lifecycle. NetSuite delivers a unique set of processes, activities, and systems designed to deliver rapid value. Customers are equipped to make the most of their NetSuite investment quickly and are able to expand towards next-generation solutions to meet changing business needs.