/ Why more and more companies are choosing BI embedded analytics solutions
Why more and more companies are choosing BI embedded analytics solutions
As companies are collecting more and more data, they are quickly realizing that they need a way to make sense of it all. That is where embedded analytics solutions come in.
With business intelligence embedded in a product or service, companies can harness the power of customer data without having to add an analytics team. What’s even more powerful is the ability to share those analytics with external parties—whether those be customers or partners.
Even though this type of solution has been popular in the past few years, it is rapidly gaining steam as more and more companies recognize how much value this solution provides.
Why are so many companies choosing to adopt embedded analytics? In this article, we will take a closer look at why this solution is becoming increasingly popular and how it allows companies to harness the power of their data.
This surge of information can be attributed to three main factors: an increase in devices connected to the internet (IoT), increased database size, and the rise of cloud computing.
This means that companies need to find a way to make sense of all this data if they want to succeed. That is why more and more are turning towards embedded analytics solutions.
By harnessing the power of analytics in a product or service, companies can be armed with the information they need to make smart decisions without having to add an analytics team.
Benefits of embedded analytics solutions
So why are companies choosing embedded analytics? There are a number of benefits to this type of solution, which include:
1. Reduced cost of ownership
One of the biggest benefits is that it reduces the cost of ownership. This makes a lot of sense, as a BI solution embedded in a product or service takes advantage of limited resources, such as storage and compute power, which decreases costs. By using a managed service, BI solutions can take care of the heavy lifting and offer you a subscription pricing model that can scale with your business.
2. Easy access to reports and analytics
Embedded analytics solutions allow companies access to insights as soon as they need them. By integrating analytics directly into a product or service, users can gain access to reports and insights without waiting for IT or data scientists who may not be readily available.
3. Immediate insights into their customers
Many companies have found that the most effective and profitable way to grow revenue is through personalized products and services.
However, they needed a way to capture and use the relevant data to make those personalized products possible.
With embedded analytics solutions, companies can gain access to insights into their customers that they may not have been able to see before—without taking on the expense of having an analytics team.
Not only does this allow for better customer experiences, but it also allows companies to market effectively and tailor their messages to the unique needs of different sets of customers.
4. Preparing for future growth
With the rise in data production, companies are quickly realizing that they need to prepare for future growth. That is why more and more companies are turning towards embedded analytics solutions. These managed solutions can scale to businesses of any size, which means your company can continue to use them as you grow.
What is embedded analytics software?
The benefits of embedded analytics are evident. With data at an all-time high, more and more companies are turning to embedded analytics software to harness the power of their data without having to build an analytics team or increase IT infrastructure.
Embedded analytics software solutions allow users to collect data from the field, store it in a central hub and then run analytics over that data. This software often comes as a package with a number of different products, including:
1. An effective user interface. Users need to be able to effectively access the data they are searching for both on mobile and desktop devices.
2. Data visualization. This allows users to create charts and reports that are both visually appealing, as well as easily accessible. Visualizing the data will help your customers gain insights faster than a traditional spreadsheet.
3. Data management capabilities. Being able to manage different data sets is an important part of embedded analytics. This allows users to organize, analyze, and visualize the data they are working with to make sense for their company.
4. Security. It is crucial for companies to have security measures in place when using embedded analytics solutions because it ensures their customers’ data is safe.
5. Customization. It is important to be able to customize embedded analytics solutions so that they fit the needs of different companies. But this doesn’t mean they need to sacrifice flexibility or usability when they do so.
6. Accessibility. Embedded analytics solutions must be accessible in order for companies and employees to get the most out of them. If employees cannot easily access the data they’re looking for, they will be less effective overall.
These Embedded analytics solutions allow companies to capture data from the field, store it in a central hub and then run advanced analytics over that data.
Embedded analytics software aims to give companies actionable insights so they can better understand their customers and create effective marketing strategies.
Once implemented, this software allows employees to easily access data, which can further help companies better understand their customers, create more targeted marketing campaigns and ultimately increase revenue.
Take advantage of your data
There is a huge difference between having data and making use of it. The problem many companies face with their data is not identifying what they have, but figuring out how to make sense of the deluge of information they are faced with each day.
By having access to advanced analytics software tailored for different company needs, they can take actionable insights, which can lead to better customer experiences, more effective marketing strategies, and increased revenue growth.
Discover how to be more productive with your data. Learn more about embedded analytics solutions and how you can gain those actionable insights today!
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