Embedded analytics has revolutionized the way businesses integrate data and analytics directly into their applications and software products. Instead of relying on separate analytics tools, this solution brings sophisticated analytical capabilities right into the core of business applications.
Embedded analytics encompasses various data-related functionalities, including data management, BI reporting, data storytelling, and data visualization. The integration of such capabilities within applications allows end-users to access customer-facing dashboards and business intelligence reports seamlessly while using the software.
This approach offers flexibility in terms of data analytics software infrastructure, supporting on-premise, cloud-based, and hybrid (on-prem and cloud) setups. Companies are increasingly adopting embedded analytics, providing data insights in reports and OEM dashboards faster and more efficiently than the traditional legacy method.
Traditionally, business intelligence solutions required end-users to access separate analytics and data visualization tools, leading to a disjointed user experience and potential underutilization of third-party BI tools. In contrast, embedded analytics caters to every end-user, regardless of technical expertise, by integrating user-friendly reports and visualizations directly into applications.
Benefits of embedded analytics are diverse:
1. Product and development teams can easily monetize data, providing customers with stunning BI dashboards and charts without the complexities of infrastructure and compliance.
2. Data and BI teams can embed business intelligence reports directly into business processes, fostering data-driven thinking and reducing ad hoc requests.
3. Marketing and PR teams can leverage embedded analytics to present survey findings or research analysis on public websites or publications.
Embedded analytics accelerates data application time-to-value by facilitating agile analytics processes, improving organizational collaboration, and enabling users to get answers faster without switching between platforms.
To win big with embedded analytics solutions, companies should prioritize satisfying overall user experience, understand the requirements of different user types, determine the necessary functionalities for each user category, consider embedding methods and locations, and assess the monetary worth of analytics for each user type. By following these keys to success, organizations can fully leverage the power of embedded analytics and enhance data-driven decision-making and business development.