To make data usable to non-technical users as well, embedded analytics is integrated into the business process applications allowing them to work efficiently and effectively by solving high-value problems.
The explosive boost in using data by organizations to compete with each other has increased the need for built-in advanced analytics. Embedded analytics are capabilities incorporated into existing business applications such as CRM, ERP, informational portals and more. It offers features like interactive data visualization, AI-integrated advanced analytics and real-time analytical report to bring in much-needed analytic capabilities for contextual businesses to help in quicker decision-making support. Due to the increase in its use, the market size of embedded analytics is rapidly growing.
Picking the correct embedded analytics for your business requires a thorough understanding of what your current application lacks that can be optimized by integrating it.
Evaluating Embedded Analytics
Businesses need to conduct a complete research on the different features and functions of embedded analytics before utilizing it in their applications. They can evaluate the same by:
1. Self-Service Ability
One of the core or primary capabilities offered to non-technical users must be the ability to access data independently. This can include functions such as dashboards and interactive analytical reports. Making this feature convenient will enable the creation of smarter strategies.
2. Scalability
When evaluating embedded analytics, businesses should consider flexible platforms that can scale up as the company evolves and grows. Understanding the platform’s performance metrics at a functional level should be a priority. Even though the integrated solution chosen will help connect a business’ current data environment and meet its security requirements, the selected embedded analytics platform should be flexible to meet its future needs as the data grows and changes.
3. Integrability
Embedded platforms must be able to integrate with the already existing application environment of the business. It should be able to cater to and meet the requirements of the company as it evolves.
4. Deployability
As making applications available timely is crucial for a project’s success, an environment where embedded analytics can deliver the functionality users want by creating, deploying and iterating it can give businesses a competitive advantage.
5. Supportability
A business must choose the correct vendor to provide the needed support and expertise on services that align with the company’s vision and mission.
Data optimization is the need of the hour. Every business wants to top its competitor, and data analysis can provide them with the required advantage if used correctly. The evolution of business analytics has created a fundamental shift in in-house applications. Embedded analytics is integrated to provide non-technical users with the ability to access and make sense of data to solve their business challenges effectively and efficiently. Access to timely data insights for analyzing the ever-growing data volumes and business operation complexities is what embedded analytics provides.
