What is Embedded Analytics?
When you, your customers, or suppliers need easy access to data in context, embedded analytics makes it possible. Embedded analytics integrates your analyzed data into your product or existing business workflows, making it easy to see and understand data via dashboards, charts, or reports.
What is embedded reporting
Embedded reporting added to your existing business applications allows for the efficient presentation of data. By embedding in these tools, you and your employees can more confidently extract important insight from data within the applications you use every day at the moment of relevance.
How to deploy embedded analytics
You can add embedded reporting by building your own solution or purchasing a suitable business intelligence tool. In either case, you want to maintain agility and control to deliver the best user experiences.
Building an embedded analytics platform could work for companies that have significant technical resources and budget for development and maintenance. For most other companies, purchasing a business intelligence tool is a more economical choice. Your chosen solution should keep the analytics capabilities current while allowing you to maintain control over how the application looks and feels to your users.
Examples of embedded analytics
Embedding analytics into your existing business applications can simplify reporting across your organization. Embedding analytics in your customer-facing products can help you get to market fast with newly created value or product differentiation. Here are three examples of how businesses are increasing customer satisfaction, effective decision-making, and market competitiveness with embedded analytics.
Embedded analytics quickly meets customer needs
An insurance software firm was determined to launch a new business intelligence product to serve its property and casualty insurance customers better. To get to market ahead of the competition, they chose a white label analytics solution. The fast, flexible solution easily melded with their existing product suite, delivered real-time data insight, and scaled with customer needs.
Embedded analytics streamlines data-driven decision-making
A leading healthcare technology firm had two goals: process a massive compilation of data securely and allow their 10,000+ pharmacy clients to extract meaningful insights from that analyzed data easily. Their solution — built on top of the technology firm’s own applications — resulted in a powerful analytics tool that delivers data visualization around critical operational data.
Embedded analytics provides an edge in competitive markets
A company known for helping brands engage their mobile users had a two-item wish list for a data platform: deliver valuable data to clients at scale, and provide those clients’ users with data to improve messaging, campaigns, and user experience. By embedding analytics, they were able to get to market fast and meet both pressing needs.
Benefits of embedded analytics
Embedded analytics allows you to provide data to your customers and employees the exact way they want within their familiar workflow environment. Embedding analytics into your current product delivers robust benefits, including:
Getting ahead of the curve
Embedded analytics turns data from your product into valuable information. Delivering that information to users directly in your product drives product adoption and stickiness.
Generating new revenue streams
Embedded analytics can help you generate new revenue streams from monthly service subscriptions, premium offerings, or new value-added applications.
Retaining more customers
When embedded analytics is a part of your products, you enhance your customer experience and increase customer satisfaction and retention.
Improving the user experience
Embedded analytics improves your users’ experiences with your applications because it provides data seamlessly within the product and workflows they already know.
Becoming more cost-efficient
Embedded analytics is more cost-efficient compared to the expense of building an embedded analytics solution from scratch and maintaining it over time. Download our whitepaper and learn how to find the right embedded analytics tool for your business.