How Embedded Analytics Can Transform Your Business
By Koyel Ghosh
There’s no doubt that we live in an age where we can hardly let an hour go without using any app. Right from fitness apps helping us get in shape to several entertainment apps making us happy at those dingy hours, applications have almost turned out to be an essential part of our daily lives. And, simultaneously, these diverse, easy-to use apps in our day-to-day lives have started elevating our expectations for their usability as well as competences.
So, this certainly means that anyone unfolding or ensuing a business application has to keep an array of things in mind so that enhancing the experience for the end users doesn’t become a herculean task. As for an example, whether you are the manager of your Original Equipment Manufacturer team unleashing a commercial product or an IT head supervising an internal app for employees, you need to confirm that your application never fails to appeal the users and evince its value with a helpful ROI.
In the last few years, many application crews have experienced the advantages of embedded analytics in enhancing user experiences while heightening end-user endorsement and rising revenue as well. Especially, with the growing fad for the users’ craze to get an easy access to their information in a perceptive way, the demand for embedded analytics has increased even more. Also, this is no surprise that organizations have now started realizing that unlike separate business intelligence solutions, embedded analytics is full of every potential to provide the users with the best ever applications and place data in regards to the solution users are already familiar to.
Following are the ways embedded analytics would help you improve your business-
When it comes to incorporating value to the application, embedded analytics can help you in more than one way. However, the question remains, what proportion of the total worth of their applications would assenters allocate to embedded analytics? This year, they reckon the worth of embedded analytics at more than fifty percent, which was just around 45 percent the previous year. This growth itself validates the significance of embedded analytics on both users and product crews.
Also, according to the recent studies done on this technology, adoption of embedded analytics has experienced a significant growth this year, when the espousal of self-service tools is pretty negligible indeed. Whether it’s an internal application or a commercial software, the organization is always likely to be well aware of the fact that embedded analytics resolves the implementation trials that have inundated separate data discovery gears.
Giving on-time and significant data intuitions to users within their standard business applications, embedded analytics helps them think logically and systematically during their day-to-day work. When instigated at a broad scale, embedded analytics is also likely to integrate data-driven decision-making into the respective company’s edifying DNA, thereby doling out the opportunity for agile analytics development.
There would hardly be any venture that would not agree that the success of an application relies on a good user experience. For improving customer satisfaction as well as the overall user experience for the app, embedded analytics is always a big hit!
Last but not the least; helping teams in ameliorating their win rate to a significant extent, embedded analytics tends to contribute to revenue growth as well.
According to Allied Market Research, the global embedded analytics market is expected to grow at a significant CAGR from 2017–2023. Advent of IoT and big data among companies, rise in consistency toward cloud technology & mobile devices, and surge in need of data amalgamation with these smart applications fuel the growth of the market. On the other hand, soaring investment cost and dearth of analytical knowledge among the organizations are expected to hamper the growth to certain extent. Nevertheless, increasing hest for simultaneous visualization in business applications have almost modulated the factors and created lucrative opportunities in the near future.
To sum up, we can state that as high-end analytics tool for business intelligence, embedded analytics makes sure that an effective application lays the first stone with an amazing user experience. A number of surveys have been conducted and it’s revealed that when it comes to customer satisfaction, there is probably no better alternative than embedded analytics, as it’s always meant to perk up the overall user experience for their application.
Koyel Ghosh is a blogger with a strong passion and enjoys writing on miscellaneous domains, as she believes it lets her explore a wide variety of niches. She has an innate interest for creativity and enjoys experimenting with different writing styles. A writer who never stops imagining, she has been serving the corporate industry for the last 3 years.