How OEM BI can give SaaS companies a competitive edge
OEM stands for original equipment manufacturer. OEM BI tools, such as an OEM analytics platform, are business intelligence tools that SaaS (software as a service) companies can integrate into their own products and services. OEM BI tools, in contrast to other kinds of BI solutions, must be white-labeled so as to offer a user experience that is seamless with the entire application.
White labeling means that the BI platform can be customized and rebranded with the client’s logo and colors. Clients can then embed visualizations from the BI tool into their customer-facing website or portal and make it seem as though the BI functionality is their own.
The capacity to white label an alternative can offer several advantages, whether you’re a company that utilizes analytics or a software provider who needs to include BI features in your product. It all comes down to tailoring BI to your preferences.
How do SaaS companies use OEM BI?
Embedded analytics is a popular method of integrating OEM BI software into already-existing business suites of SaaS companies. The need for efficient and integrated analytics is growing as firms become more and more data-driven. Many businesses choose to combine their current needs into a single solution rather than spending an excessive amount of money on separate data platforms.
This lowers costs while ensuring the smooth operation of crucial applications. It also eliminates the requirement for expert team members to oversee several different tools.
OEM BI for self-service analytics
The goal of software teams is to give end-users robust reporting and analytics tools. With embedded self-service BI, users may connect directly to a variety of data sources and obtain the information they need. BI reports and interactive dashboards aid in the analysis of the data and the development of insights.
Through BI tools, users may exchange insights and support one another in making data-driven business decisions. Without consulting experts for data access, report production, or report distribution, self-service analytics enables users to identify, evaluate, and take advantage of specific analytical opportunities.
One of the largest issues for SaaS is ensuring data governance, security, and privacy. Each company has its own needs, processes, and data clearances. Data governance is a component of successful self-service analytics as well. It shows quality control and aids in ensuring the accuracy of the data supplied.
OEM BI advantages
1. Maintain focus on the primary business of SaaS.
Many OEM BI-using firms and software suppliers who include analytics in their offerings lack the internal skills and funding necessary to develop a complete OEM BI package. Building embeddable BI solutions involves a high degree of technical expertise, and you’ll need to stay current with best practices as the technology develops—from understanding new data visualization principles to UI and UX foundations, as well as best practices for data governance and security.
Instead of having to create reports and dashboards from scratch, your team can concentrate on your core business competencies with a white-label analytics solution, or OEM BI.
2. Rapidity of market entry
Planning, designing, and developing your integrated BI system can take years; customizations, holdups, or other issues can extend that period even further. Additionally, there is a learning curve, so getting your team up to speed will require time and money.
By easily connecting with already-existing internal or commercial applications, embedded BI tools can be operational in days or weeks rather than months. Any authorized person can access data insights regardless of their training in statistical analytics. As a result, you’ll be able to get your goods and services to market more quickly.
3. Maintain brand consistency
By using white-labeling OEM BI products, you can alter visual components like colors, typefaces, and logos to make analytical features appear more naturally integrated within your program as opposed to being an external add-on. In other words, it is identical to the existing application interface.
This offers an aesthetically engaging user experience that features your organization’s own identity. The same is true for sub-branding: If the company hosts a multi-tenant application and each tenant demands that their branding be displayed, you may adapt the white label analytics solution to accommodate several brands.
4. Improve user acceptance
Any IT project must have user adoption in order to succeed. Even with the best technology, a poor implementation will result from no one using it. It’s simpler and less confusing for consumers if you let them interact with information in a centralized application rather than forcing them to export it to different programs or documents.
5. Encourage a competitive edge
Users can act on data directly from their daily workflows using an OEM BI solution or white label analytics without switching to additional applications. Users will interact with data more frequently and conveniently if self-service BI features are available, such as the ability to build their dashboards and reports from within a familiar application. This can potentially increase revenue and create a competitive edge without a steep learning curve.
For user adoption to increase, SaaS requires OEM BI solutions. It enables them to draw from others’ perspectives and expertise in various ways. Additionally, it produces insights that help people make decisions quickly and knowledgeably.