The modern business ecosystem extends far beyond the walls of headquarters as workforces become increasingly flexible, mobile and remote. Just like so many companies are increasing their cloud IT usage to support users as they access networks from a variety of locations, so too are enterprises prioritizing data analytics capable of supporting widespread access — without sacrificing privacy, user experience and data accessibility.
Embedded analytics furnishes business intelligence and data analytics capabilities in existing applications and workflows, allowing people to harness tools like search- and AI-powered analytics without having to switch to a new interface. This represents a huge step forward in self-service analytics because it focuses on meeting users where they already are, boosting convenience and accessibility across the organization.
Here are reasons for organizations to prioritize the adoption of embedded analytics.
Benefits of Embedded Analytics to Users & Enterprises
Facilitate a Seamless User Experience
Getting a good return on investment on analytics depends on users actually harnessing the tools at their disposal. Embedding analytics into existing tools eliminates the need for users to constantly switch between different interfaces while working — or, worse, limit their analytics usage to only when they’re working in-house.
This efficiency factor is especially important when you consider users are typically pulling in data from a variety of sources, like CRM, ERP, financial/marketing automation systems and many more. Embedded analytics ensure not only a consistent version of the truth regardless of which application someone is using to access a tool or which team they are part of, but also a more streamlined analysis experience unhampered by needing to log in and out of different programs and switch screens to access tools, charts and dashboards.
Foster Collaborative, Data-Driven Company Culture
Achieving a collaborative company culture driven by data is near impossible if everyone is on a different page in terms of what information they’re able to access.
Embedded analytics addresses this challenge head-on by providing the universal version of truth mentioned above — meaning all teams are working from the same datasets — plus allowing people to share insights easily with colleagues and clients in mutually utilizedapplications and portals. One example of a company already doing so with embedded analytics is BT, which allows its customers to analyze their own spending on telecommunications products so they can understand their bills and make more informed decisions along the way.
Provide Customers & Clients with Direct Insights
Rather than having to crunch the numbers behind the scene before passing on insights to clients and customers the old-fashioned ways, companies can now embed analytics tools directly into portals.
Benefits of Embedded Analytics to Business Goals
We’ve covered how embedded analytics tends to improve the user experience, allowing everyone to access tools, graphs and dashboards within their most-used applications and encouraging easy sharing of insights between individuals and teams.
And now, the question on every financial leader’s mind as they consider the potential value of embedded analytics: How does this increased accessibility, collaboration and uniformity in data insights fuel better business incomes?
Here are just some of the outcomes possible when employees are able to take advantage of embedded analytics when making decisions:
- Discovering new revenue streams
- Identifying operational inefficienciesin need of improvement
- Understanding customer behavior to drive acquisition and retention
- Evaluating each link of the supply chain, from manufacturing to delivery
The reasons to adopt embedded analytics are compelling, both in terms of how this software can positively affect user adoption/experience and drive intended business outcomes. Making data analytics access more convenient, flexible, accessible and consistent allows users to get the insights they need to make better decisions — wherever they are located.