The world of business intelligence has changed a lot over the past few years. Legacy systems that require a lot of time and work to generate results are being replaced by leaner software. Embedded analytics has been one of the more relevant innovations in the BI world. Here are a few reasons why embedded data is simply worth more than traditional forms of analytics.
What Is Embedded Data?
Since it’s a relatively new addition to the BI world, a lot of people still aren’t familiar with embedded data. Essentially, embedded data affords companies more user-friendly applications for their key business intelligence numbers. Embedded data can be dropped into various forms of user interfaces, which makes the information easier to digest for people who aren’t analysts.
Embedded data analytics is the link between business software like CRM, which is great for users, but doesn’t typically provide enough data for deep insights, and traditional BI, which can generate key revelations, but is slow and difficult to use for most people. This makes your organization’s data accessible and clear to a broader range of people.
Super UI and UX Set Embedded Data Apart
There has recently been a huge movement to create software and other digital products that make ease of use a top priority. This strategy is paying off, as more people are likely to recommend or continue using a product if it’s intuitive. The user experience revolution has finally made its way to data in the form of embedded data analytics. If you have the option of clunky data display versus easy-to-understand analytics, why wouldn’t you choose the latter? As more business owners answer this question for themselves, they’re seeing the immense benefit of embedded data.
Find Unexpected Insights
Analysts, managers, and executives are probably the people who need data more than anyone else in a company. Their duties revolve around making business decisions, which can be best accomplished by incorporating analytics before gut feelings. However, your organization is composed of a lot more people than these aforementioned individuals. They might not all have ideas for cutting waste in half, but a lot of them probably can think of ways to increase efficiency in small intervals. Granting your whole staff the ability to search and use data can lead to money-saving ideas that never could have come from the C-suite.
Combine Data from Different Sources
Sometimes referred to as “data blending,” combing raw data from separate software or programs can be tricky and time-consuming. Another huge plus of embedded data analytics is that it can often combine information from different sources. So if you have related data sets in different programs, you can save a lot of hassle by putting them together with embedded analytics.
Embedded Data Helps Grow Revenue
There’s one test that beats out all others in determining if an application is worthwhile for your business: Does it make money? Due to the above factors, embedded data analytics is extremely effective at helping organizations increase revenue and margins. In fact, up to 98 percent of companies see revenue growth when they implement embedded data. Almost nothing is guaranteed in the world of business. However, embedded data analytics is about as close organizations can get to a product that’s certain to improve operations.
In today’s business world, data drives the decision-making process of top companies. Elite organizations know that employing quantifiable results is the best way to streamline protocol. It is a revolutionary kind of product that will play a huge role in companies’ daily operations.