Embedded analytics encompasses much more than merely allowing users to examine reports within portals and apps.
Users can interact with data on the most important embedded analytics platforms. Users can be authenticated via internal and external web pages and applications, and data permissions can be managed directly from the analytics tool.
The major advantages of embedded analytics stem from the tool’s ability to provide a community-driven approach to data, in which people can contribute a variety of viewpoints and information to a particular question or problem.
Users can apply the skills of others to their queries and build on one another’s work by sharing data. It also makes collaboration easier, which is crucial for getting more accurate information faster.
You may communicate insights in a variety of ways using embedded analytics. You can share dashboards and infographics securely within your company or with partners and customers.
Here are a few benefits of employing embedded analytics in your business:
Informed Decision-making based on data
Traditional data analytics relies on BI teams to inform high-level, strategic choices. Because the embedded analytics approach is more efficient, there’s no reason why teams can’t use data-driven insights to make tactical and operational decisions as well as strategic ones.
Business users across the enterprise (as well as customers and partners) can create insights thanks to embedded analytics, which allows both technical and non-technical people to engage.
Marketing, finance, sales and operations professionals can use real-time data to inform crucial but smaller-scale choices they make on a regular basis. Departmental metrics or KPIs are frequently used.
Also read, Embedded Finance: A Go-to Solution to drive Financial Inclusion
Increased Productivity
The inherent efficiency of embedded analytics equates to increased production. There’s no need to go back and forth between platforms when a query arises, since business users can get the information they need immediately from the web and mobile applications that are part of their operations.
A few embedded analytics packages also allow you to grant specific users’ authorization to run queries and generate ad hoc reports from the website or app. Line of business teams may handle their data needs without the assistance of the BI team, allowing them to be far more productive.
Data teams can then concentrate on tasks requiring their technical expertise. Even if you chose a platform that doesn’t have these ad hoc capabilities, your organization’s efficiency and insight-driven decision-making will improve.
Widespread Adoption
Platforms with embedded analytics capabilities, unlike many ostensibly self-service analytics applications, have widespread adoption. In fact, platforms with embedding capability have a two-fold higher adoption rate than those without.
People are more likely to adopt embedded analytics because of its ease and convenience. And if teams recognize the value of incorporating insights into their daily decision-making, they’ll use it even more.
Valuable Data Products
Many firms produce unique, valuable data that consumers and partners would gladly pay to access, thanks to the ubiquity of data generated in a variety of ways.
Embedded analytics may help these businesses quickly turn their reports, data and visualizations into a solution. Data products can supplement existing revenue streams or provide value to existing products or services. As a result, the company becomes more competitive and provides more value to its consumers and partners.
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