The Growing Importance of Embedded Analytics in Business Applications

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The Growing Importance of Embedded Analytics in Business Applications

Posted by Vrinda J Menon

Associations are clamoring to unlock the value inside the massive volumes of information they are gathering. Data-driven representatives settle on more educated choices that assists organizations beat the opposition. Representatives require applications that assist them comprehend every information accessible for basic leadership. At that point they have to investigate and dissect the information so they can settle on the best choices.
The hunger for data and analytics is changing the expectations that workers have for software. Business users expect customizable dashboards and reports as part of every application they use. More importantly, they expect to be able to quickly and easily explore and interact with data sets. Combine that with the growing complexity, size, and variation in data sets, and software developers are facing increasingly demanding challenges in helping their users and customers gain the insights they need.
Analytics in general refers to the data acquisition, data transformation, and business intelligence development required to convert raw data into actionable business insights. Traditionally, analytics capabilities exist in a stand-alone infrastructure. This expects clients to switch forward and backward between business work process applications, which regularly leaves investigation arrangements unused and their value undiscovered.
Embedded analytics is “the use of reporting and analytic capabilities in transactional business applications.” Essentially, it is the combination of analytics and workflow applications that detours the issue of flipping between two separate frameworks, saving time and enabling greater control over the process. It merges employee workflow and contextual insight, which delivers the most opportune and important experiences into the client work process with least disturbance.
Embedding analytics into normal user decision-making ensures users are more likely to see and act upon analytic insights, so connecting users to context-specific analytics can have many wide-ranging benefits
How embedded analytics can improve your business?

  • Develop Data-Driven Decision Making

Presenting timely and relevant data insights to users within their normal business applications conditions them to think analytically while doing their daily work. When implemented at a wide scale, embedded analytics hardwires data-driven decision-making into your organization’s cultural DNA. Embedded analytics not only provides business insights to users, but also provides user insights back to the analytics development team, which drives new and improved products.

  • Increase ROI on Data Transformation Investment

The most familiar information in the IT industry is that the Extraction/Transformation/Load (ETL) phase of an analytics project is dependably “the long shaft in the tent.” The increased utilization and adaptability of embedded analytics can help win over the business user community and reduce the risk associated with a long ETL work effort.

  • Enhance Productivity

Embedded self-service analytics can give end users a quicker avenue to the insights they need while freeing up development teams to focus on new products that help grow the business and create differentiation. Moving to embedded analytics avoids pitfalls and leads to dramatic productivity gains.

  • Improve Competitiveness

Adopting a thoughtful, embedded analytics approach is becoming a survival strategy for any consumer app. Combining traditional workflow with contextual insights can reinforce your commercial applications’ unique value proposition with customers, depending on the depth to which you embed analytics in your applications.

  • Boost customer satisfaction

Embedding analytics behind the customer-facing storefronts can lead to repeat sales, larger shopping carts, and happier customers.
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