We look at some ways embedded analytics can help your business and customers
Embedded analytics incorporates business intelligence and analytics software into an organization's operational systems. The goal of embedded analytics is to provide users with actionable insights in real-time to help them make better decisions.
With embedded analytics, you can embed dashboards, reports, and analytic tools within your organization's applications. This allows users to analyze data seamlessly and develop insights as they work without leaving their application and opening a separate BI tool.
So what are some of the benefits of embedded analytics for both your internal teams and also customers?
Integrate Embedded Analytics Into Pre-Existing Applications
One way embedded analytics benefits your business is by utilizing existing applications that you already use daily. This can include CRM software, ERP software, or even custom-built applications.
Embedded analytics allows you to integrate reports into these applications to view and analyze data as you work. This can be done by adding simple reporting tools, such as graphs and charts, or by embedding more complex tools, such as predictive analytics models.
Switching between applications is time-consuming and disruptive, causing you to lose focus and, in some cases, valuable insights. Embedded analytics makes it easier for you and your team to pull insights from data as you work without jumping back and forth.
Adding new technology to any work process can add friction to your operations. Your team may already be overwhelmed by the number of SaaS products they're using daily. However, embedded analytics doesn't work like most of your other pieces of software. It isn't separate from your BI platform. It's implemented as a feature directly embedded within the BI platform, allowing data to be integrated with your existing applications. It's seamless, so rather than adding to the complexity of the workflow, embedded analytics simplifies it.
Embedded Analytics Allows You to Easily Share Data Among Your Teams
Embedded analytics allows you to share data more efficiently between and among your teams.
Transparency is vital when it comes to making good decisions. Having access to the correct data makes your team better informed. This aids them in making the right decisions.
Embedded analytics allows you to share data with your employees in an easily accessible way. They don't have to search for data within different applications or folders. The upfront visibility of embedded analytics results in everyone getting on the same page and seeing, for example, KPIs at their fingertips.
Every member of your team should have easy access to key performance metrics. Updated, accurate, and accessible charts and graphs are an excellent way to achieve this goal.
Some companies without embedded analytics rely on ad hoc methods, like screenshots of their BI dashboards, to share data among their teams.
However, these methods can be cumbersome and difficult to use. They also tend to lack the interactivity and accuracy that embedded analytics provides. They're not very robust either. (Where does that screenshot go after it's used? Probably the trash). They're also not transparent. Screenshots of data can easily be cherry-picked to fit a narrative.
With embedded analytics, data is most effective because it provides accountability and transparency, driving employees to reach goals. All team members have access to the same data.
Embedded Analytics Improves Communication With External Vendors, Partners, and Customers
Communication is essential in maintaining good relationships with your external vendors, partners, and customers.
Embedded analytics makes this communication more effective through transparency with the data that is being shared.
Having a centralized location where all the data is stored and accessible is an excellent way to improve communication.
Embedded analytics allows you to share data with your vendors, partners, and customers.
Again this is a highly visible interface, so stakeholders will not have to search for data within different confusing applications or folders.
Without embedded analytics, your team needs to update your partners manually. This can take a few hours to a few days, making the data out-of-date, error-prone, or irrelevant. With embedded analytics, data is automatically updated and pushed to your partners in real-time.
Embedded Analytics Incorporates Customer Data Into Your Product
To improve your customer experience, you need to understand how your customers interact with your product.
Embedded analytics allows you to incorporate customer data into your product. This means that you can more easily track how customers use your product and where their pain points are. Embedded analytics doesn't bury the data somewhere in the backend. It's easily accessible.
With embedded analytics, you can see what your customers are doing and why they are doing it. This helps your sales team track issues and proactively develop solutions, giving you up-to-date data to anticipate customer needs and improve customer experience.
This also helps you and your team monitor your branding strategy and use gathered data to improve it.
Get Onboard With Embedded Analytics
Embedded analytics helps make your company more agile. Learnings aren't buried in inaccessible data archives that are disused and forgotten. Data isn't siloed in teams that can't speak a common language.
Instead, embedded analytics improves communication between teams, encourages data sharing, aids good decision-making, enhances accountability, and keeps the latest, mission-critical data right where it should be: at everyone's fingertips.