Let’s face it – data analysis is time-consuming and does nothing to support real-time decision-making.
However, embedded analytics solutions are changing that scenario.
Embedded analytics is nothing more than the ability to analyze data within a user’s natural workflow, without having to switch to another application. It’s a revolutionary concept that streamlines processes, enhances decision-making capabilities, and ensures that organizations large and small can move at the pace of modern business.
In this post, we’ll explore embedded analytics solutions to help you make an informed decision.
What Are Embedded Analytics Solutions?
Embedded analytics solutions are software tools that dovetail with your existing technology stack. They let you build customized visualizations that transform raw data into something usable within the software your teams already use.
While each solution operates slightly differently, most follow a similar process that includes:
- Intake – Information enters the software, introduced from your sources, like CSV files, reports, and more.
- Cleansing – That data is then analyzed and parsed to clean it and vet it for accuracy.
- Transformation – Your data is then transformed into something easily digestible by human beings, like bar charts, graphs, pie charts, and more, allowing immediate access to critical insights.
- Decisions – Based on access to real-time information, your team makes decisions faster and more accurately, out-competing other organizations in your industry and achieving other important KPIs.
Who Uses Embedded Analytics
Embedded analytics is utilized by a wide range of organizations across various industries. This includes SaaS companies in FinTech, HealthTech, Manufacturing, and more. Their customers rely on dashboards and analytics to gain insights into key metrics, and make informed strategic decisions. A robust embedded analytics platform will enable end-users to explore data, uncover patterns, and generate custom visualizations. Product teams leverage embedded analytics to enhance their applications or products without having to build these capabilities from scratch. Further, lines of business, such as sales teams, customer support, or operations, benefit from embedded analytics by accessing real-time insights and reports within their daily workflows, allowing them to make data-driven decisions and optimize team performance.
Types of Embedded Analytics Solutions
While embedded analytics solutions are making inroads into businesses large and small, they’re not all the same. You’ll find two basic “types”: customer-facing analytics and self-service analytics (internal BI).
Customer-facing analytics allows you to explore information and share it with your customers. This is an essential tool for B2B organizations across all industries and can help you strengthen customer relationships, fine-tune customer service, and more.
Self-service analytics, on the other hand, allows you to drill into your data and make decisions regarding internal workflows. You can streamline operations, enhance efficiency, and more.
Understanding the Advantages of Embedded Analytics Solutions
Why jump on the embedded analytics bandwagon? Here are just some of the reasons:
- Faster Decision-Making – Your leaders and teams can make faster decisions based on real-time data without even having to toggle between applications.
- Increased Productivity – Recapture time traditionally lost by using separate analytics platforms and improve productivity across the board.
- Improved Customer Experience – Deliver a seamless customer experience by fine-tuning processes throughout your organization in real-time.
- Reduced Costs – Identify bottlenecks and remove inefficiencies to cut costs while improving performance.
The Key Features in the Next Wave of Embedded Analytics Solutions
Embedded analytics solutions have been around for some time now, but they’re rapidly evolving. Some of the key features to look for if you’re considering implementing a platform include:
- Custom data visualizations on the fly
- Interface and data stream customization
- Robust data security for peace of mind
- Data governance for regulatory compliance
- Real-time analytics to support decision-making at the speed of today’s business world
Agility and speed have never been more important in your decision-making processes. Embedded analytics solutions are must-have tools for business success.
From customer service to fine-tuning in-house processes, they give your teams real-time access to critical information within the applications they already use. Plus, custom dashboards ensure complete relevance for teams throughout your business.
Isn’t it time your people had immediate access to the information they need for better decisions? Schedule your free trial and see how Explo can transform your organization for the better.