Understanding the Basics of Embedded Analytics

Data is crucial to almost every business’s long-term success. This is because data gives you powerful insights about how your business is performing, what trends to be aware of in regards to your performance, and what obstacles you may need to think about in the future. All of this information allows you to run your business better, making informed decisions that go beyond your gut feelings. Especially at a time when so many industries are reeling from the global pandemic, being able to understand your company and its customers is absolutely vital.

 

While data is a powerful tool for businesses of all sizes, industries may find that without the right analytics dashboard, they struggle to fully harness data analysis effectively. Especially if your company is distributed across a variety of analytics tools and business applications, data about each of your business processes might remain in a data silo. If you don’t have an integrated business intelligence solution that ties together information from your ERP, CRM, and other traditional BI dashboards, you may not have the full picture. This is where a concept like embedded analytics can really pay off.

What is embedded analytics?

 

The first thing you might be wondering to yourself is, “What is embedded analytics?” Put in its simplest terms, embedded analytics helps you bridge your analytic capabilities and business intelligence workflow by allowing you to include multiple analytics dashboards on the same page. Data visualization is a key component of understanding and leveraging your analytics; however, if you’re trying to look at multiple pieces of analytics software at once, it can be cumbersome to gain the right insights. An embedded analytics solution allows you to combine two separate applications’ visuals and dashboards into one, integrated reporting tab. This makes the user experience much more seamless and ultimately allows you to use your analytics applications in much more powerful ways by using multiple data sources all within one clean interface.

Why does your business need embedded analytics?

 

There are plenty of reasons that your business can benefit from using an embedded analytics platform instead of simply relying on disparate analytics platforms. For starters, it’s just much more efficient to manage users by offering single sign on to one analytics dashboard rather than offering a variety of logins for different software applications. Particularly for a large enterprise where gaining actionable insights and setting benchmarks based on customer relationship management software and different financial systems is key, making it easier for an end-user to access and analyze your key performance indicators is incredibly beneficial.

 

Beyond making it easier to measure valuable insights, there are other benefits that come from embedding your analytics products into a single dashboard rather than settling for traditional business intelligence options. For starters, embedded analytics can save you money and increase your revenue, too. Think about how cumbersome it is to get the right data insights if the user workflow isn’t seamless. One of the major benefits of embedded analytics is that you can streamline your employees’ methodologies for different business operations. Business users who save time managing multiple analytics projects won’t just be more productive, they’ll be happier, too. This both reduces your turnover and allows them to keep providing value to your company. It’s also worth noting that monetizing your analytics modules through embedding is also a way to increase revenue on a user-by-user basis.

 

From helping you take advantage of new revenue streams to offering you much more advanced analytics about your data, it’s clear that using an embedded analytics solution is a powerful way for any business to grow. Especially if you use a variety of kinds of data in your day-to-day operations, it’s definitely worth looking into adopting an embedded analytics platform for your company.