What if you could put all of the data, visualizations, and insights that a BI platform can deliver wherever you want? You could give your staff the full benefits of BI without disrupting their productivity, allowing them to make faster, data-driven decisions. You may even make it a paid feature so that your consumers can have a deeper understanding of the impact of your product. To put it another way, it’d be BI on a silver platter.
That’s embedded business intelligence, and it allows your data to leave the platforms and databases it regularly inhabits to demonstrate its worth in unexpected ways. And in recent months, this promise of new value has gained traction. In the next three years, embedded analytics will grow to a $60.28 billion market, according to recent research.
So, what’s the big deal about embedded analytics, and how does it work? Let’s get started.
What is embedded analytics?
Embedded analytics integrates analytic capabilities and material into corporate programs, products, websites, and portals in a seamless manner. It enables users to instantly access relevant data and insights in their regular operations without having to slow down or switch to another analytics program. This makes it easier for businesses to provide information to employees, customers, suppliers, and partners exactly where they work, allowing them to answer questions, make better decisions, and take action faster.
Your SaaS platform may assist firms manage documents, which is an example of leveraging embedded analytics as a product feature. A client wants to collect real-time data on the status of their documents so that they can better manage them using your platform.
The basic concept is to bridge the gap between business intelligence and business operations. Embedded analytics will provide BI to almost any location it needs to be, rather than isolating it in its own platform. You may improve your operations and add value to your goods by integrating BI data into the workflows it affects.
What’s the relationship between embedded analytics and business intelligence?
Business intelligence can be used in a variety of ways, including embedded analytics. Embedded analytics is the process of moving a dashboard out of a BI platform and placing it where you need it, rather than keeping it away.
Embedded analytics is a component of a BI infrastructure that helps users analyse and visualise business data. Embedded analytics, on the other hand, gives this data outside of the restrictions of typical BI systems. It’s critical to break free from the traditional BI perspective since better business decisions can (and should) happen anywhere. Benefits of embedded analytics
1. Identify new revenue streams:
Businesses can generate additional revenue streams by upselling embedded analytics features to their users by distinguishing their product offerings. An ISV (independent software vendor) that sells manufacturing automation software, for example, can embed analytics straight into their program, allowing its end-customers to analyze data and get insights in a secure fashion on their own data, so adding value to the customers.
2. Data driven decision-making
Embedded analytics’ shared nature enables your marketing, sales, finance, and other teams to gain real-time data and draw actionable insights.
3. User experience that is seamless
Embedded analytics integrates analytics into your own web site or application, making it easier for your users to embrace new analytics features and improve their user experience.
4. Enhanced understanding
Embedded analytics enables organisations to self-serve and provide deeper insights for their users using machine learning and ad-hoc capabilities (e.g., developing bespoke dashboards and reports).
5. Productivity Improvements
Teams using integrated analytics can access and adapt data to meet their needs without relying on BI knowledge, allowing them to speed up their analyses and focus on their core competencies.
6. Embedded Reporting
Embedded reporting, which may be integrated into your existing business tools, enables for more efficient data presentation. You and your workers can gain valuable insight from data within the programs you use on a regular basis by integrating it.
Uses for Embedded Analytics:
1. Web portals for employees:
The entire firm may access teams’ and the broader organization’s data by integrating dashboards, charts, and reports into your intranet, allowing everyone the opportunity to interpret and draw insights in context.
2. Third-party applications:
Team members may view and interact with dashboards, charts, and reports within their workflows by embedding analytics directly into the applications they use, eliminating the need to switch between different platforms.
3. Pages on the public website:
You may share integrated analytics in dashboards, charts, and reports based on your data with current and prospective customers with a little HTML, giving them with meaningful, engaging, and up-to-date information they’ll like.
In a Nutshell
Embedded analytics gives you easy access to your apps without sacrificing the opportunity to customize the look and feel of these new capabilities. You may grow embedded analytics capabilities from a few to hundreds of thousands of users using the serverless architecture without having to create, install, and manage your own analytics infrastructure.
About The Author
Dan Taylor
Dan is responsible for content marketing and branding at GuestPostBlogging. He writes about topics related to startup naming, branding and entrepreneurship.
