Embedded Analytics is the integration of analytical functionality inside enterprise systems (such as CRM, ERP) or portals. The primary benefit of embedded analytics is addressing fundamental enterprise challenges and using analytics that helps customers work smarter.

The Importance Of Embedded Analytics For Businesses

1. Helps To Stay Ahead Of Rivals

Businesses in recent times want to set themselves aside from their rivals in the market and improve the rate at which consumers utilize their items. Only 1/4th of the users return to a website after their first time. Embedded analytics provides insights into the audience’s behaviour while using an application. Analytics embedded into an application can help better analyze, report and compare a website’s performance with others. This can help in future forecasts and taking steps to increase web traffic and traction.

 

2. Create Value, Not Just Report.

Instead of building complex analytics engines from scratch or creating reporting functions that need to be updated frequently, application developers should focus on enhancing functionality by adding new features. With the right built-in analytics, you can meet customer demands whenever you want.

 

3. Analytics As A Service For Everyone

Earlier, IT departments and analysts did most of the analysis and information dissemination. However, data analytics is no longer the domain of a select group of highly skilled professionals. Everyone in the business needs to be an expert in data to make the intelligent decisions that drive business today. Embedded analytics has made it easier for non-technical professionals to perform complex tasks such as data sorting, visual analysis and more.  

4. Boosts Your Audience’s Trust

Your audience should get meaningful insights while using your application so that they have a reason to come back. Embedded analytics solutions allow businesses to provide the tools their customers need and, thus, drive growth in the longer run.

5. Save Costs

The volume of data and complexity of reports have dramatically increased in recent years, increasing overhead costs. Many companies are currently unsure of the best way to improve their analysis and visualization skills. The biggest challenge companies face is creating custom chart sets to represent their data. Building analytics from scratch presents significant obstacles for both technical and commercial decision-makers. Embedded analytics addresses this challenge by significantly cutting costs and providing the best solutions.

Buy or Code?

Many application developers think building a report through self-coding is the most feasible option. Undoubtedly this option is more accessible but poses many challenges in the long run. Very few consumers want to extract and paste data into a spreadsheet. Over time, consumers will most likely want more functionality and the opportunity to add new things independently. For example, creating dashboards and graphics. As demand increases, the scalability of building analytics can be challenging.

 

Why is buying embedded analytics solutions from a third-party provider better than coding?

Today’s software companies are constantly under pressure to improve their analytical capabilities. However, they might not have the time or the valuable resources to achieve this goal. That is why it’s better to integrate embedded analytics from a third party.

 

• Save Time- It is essential to reach the audience faster than your competitors. Businesses need to reduce their time to market because they typically have short-term opportunities to satisfy their customers, highlight new products, and stand out from the crowd.

 

• Save Money- Planning, developing and creating embedded analytics from scratch is expensive.

 

Businesses typically have short-term opportunities to satisfy their customers, highlight new products, and stand out from the crowd. Outsourcing embedded software allows you to seize an opportunity and act instantly.

Final Words

A business should clearly define its goals before evaluating vendors for embedded analytics. This will help pick the right embedded analytics platform and make the most of its data storytelling features.