Embedded Analytics Defined
Embedded Analytics can assist organizations in making their Business Intelligence solutions available inside end-user-tools, such as customer relationship management (CRM), enterprise resource planning (ERP), marketing, financial systems, and other software applications. Embedding analytics into existing workflows helps business users gain access to the capabilities they need without having to go outside of the environments they use daily to do so. Users are often rewarded with faster, more informed, and more efficient decision-making, which can lead to more actionable insights. Embedding an analytics solution can also lead to better business value from the data that a business has already invested in capturing, storing, and analyzing.
Those who look to embed analytics tools into their existing business processes tend to prioritize their requirements. These features include dashboards, data visualization, self-service, benchmarking, and reporting. It’s important to also consider volumes and velocity of collected data, complexity, permissions, and reporting access.
Some companies try their hand at developing an in-house embedded solution, but fail, as this approach can become complex. In addition, organizations must be aware of the resources and time it takes to deploy a fully-functional embedded framework. Oftentimes, businesses who choose to go this route stretch their resources too thin and end up with a less-than-optimal product. As a result, organizations are increasingly turning to embedded tools offered by a growing number of analytics solution providers.
There are a plethora of vendors who offer enterprise-class embedded tools, but you’ll want to make sure you consider all of your options to choose the tool that best fits your next project. Consider the following evaluation criteria:
- Data Access, integration, and management
- End-user analytics functionality
- How analytics are embedded within the application’s user interface
- Deployment and security
- Extensibility, customization, and transparency
- Services, support, and vendor experience
It is critical for organizations to forecast how they will scale in the future. In today’s rapidly evolving business landscape, the volumes and velocities of data that a company collects today may be different tomorrow. In order to avoid having to continually integrate and embed new tools for similar capabilities, select a solution that has the ability to scale with your business.