Interpreting the significance of embedded analytics and how to choose the right software

Embedded analytics empowers business users to work more efficiently with germane information and interactive tools. It is a technology that integrates analytical capabilities and data visualizations into another software application and delivers real-time reporting, interactive data visualization and advanced analytics. Embedded analytics can be deployed across certain processes such as marketing campaign optimization, sales lead conversions, inventory demand planning, and financial budgeting.

Since many applications are significantly built with analytics capabilities as standalone tools, embedded analytics is an integral feature of applications today. It supplements self-service functionality to applications that users need. Common embedded analytics features include interacting and managed reporting, self-service analytics and reporting, dashboards, data discovery and advanced visualization, and white labelling.

So, what to consider when choosing and implementing the right embedded analytics solution for delivering value?

Scalability and Flexibility

Embedded analytics BI software must be flexible enough to adapt to a business environment efficiently. It requires businesses to be vigilant about the user experience of the embedded analytics tools they choose. When adding embedded analytics functionality to a business solution, the risk is to create complexity or hours of additional training. However, the customer does not want to pay for these training courses, thereby reducing companies' promise of ease of use. Thus, choosing a supplier who can provide an embedded analytics tool adapted to the novice is inevitable.

Having Traditional and Modern Analytical Capabilities

The right embedded BI and analytics tools can deliver a broad spectrum of self-service BI requirements, both traditional and modern. Embedded reports and dashboards must be actionable and enhanced with data storytelling, collaboration and broadcasting features to better share discovered insights with others and fortify adoption by business users. Solutions like Yellowfin enhance these expected traditional embedded BI offerings with automated alerting and AI-powered analysis that paves highly unique analytical experiences and opportunities to explore critical business metrics and discover insights.

Seamless Embedded Analytics Experience

Delivering a better user experience and value demands the combination of the right features, KPIs that drive action and visualizations that tell a compelling story. Enabling exceptional embedded analytics features such as action-based dashboards and automated insights requires a solution that can incorporate these tools alongside a company's core software in a seamless manner to ensure their users get more value from their product.

Faster Time to Market

Building an embedded analytics solution may be challenged by the time and costs it takes to run. For instance, if a business is successful with this solution, will they be able to afford it? They also must consider will this software support their long-term goals? So, it is imperative to look for the embedded tool that can expedite that process and significantly lessen the development cycle.

Security

Implementing any embedded analytics software should integrate enhanced security. There must be multifactor authentication so that many users can access the same application, but only those view the data, who are authorized to access it. It also requires control that must cover access to analytical functions, such as graphs, reports, and dashboards, along with data. Role-based and user-based security is also vital to ensure protection.

Thus, choosing and integrating the right embedding analytics software into a product application can benefit everyone. The product team within an organization can gain an invaluable long-term selling point while users get a data-driven software experience that supports them with their decisions.