The integration of analytical capabilities and data visualizations into another software product is referred to as embedded analytics.
The end-user can evaluate data housed within the software application into which the analytics platform is incorporated by including real-time reports and dashboards. The end-user can utilize this research to recognize potential opportunities and identify and mitigate concerns.
Prinergy’s analytics enable customers to track ink usage, print pass counts, and production trends and volumes all in one place. Without having to employ a separate analytics platform, they will be able to estimate resource needs and improve ink usage efficiency more accurately.
Embedded analytics provides a view into the data stored within a software application for the end-user.
The end-user may not recognize the embedded analytics platform as a different piece of software. This is known as white-labeling, and it involves rebranding the analytics platform to match the appearance and feel of the rest of the program. This enables enterprise applications to sell analytics as their own. The analytics platform might also be grey labeled, with the platform provider’s brand identity remaining. In the analytics module’s footer, for example, it might state ‘driven by Yellowfin.’
Advantages of incorporating analytics into your program
Analytics may provide a lot of value to your enterprise software solution. Embedding analytics gives you business prospects, from enhancing user engagement to creating new income channels to minimizing client attrition. Here are five of the most significant advantages of incorporating analytics into your product as a software OEM.
1. Long-run competitive advantage over your competitors
YYouare insulant behind your competitors if you do not have fashionable analytics inbuilt in your app that gives unjust insights. purchasers have come back to expect analytics across the board. Organizations need to create use of the richness of insights buried within the package programs they acquire through analytics since additional information is being created than ever before.
By exploiting the proper fashionable analytics platform, your end-users are going to be ready to create use of recent technology to quickly get to the guts of information – insights. after you incorporate AN analytics platform that focuses on innovation, like Thunnus albacares, you and your customers can continually have access to the foremost recent technological advancements. This provides you with a long-run competitive advantage.
2. The potential to produce your customers with an incredible analytical expertise
You can introduce new capabilities which will revolutionize how your customers use your application once you embrace a contemporary business intelligence platform. they will be able to program their capabilities into dashboards, for instance, or receive quick, automatic insights while not having to splice information along manually. in an exceedingly managed platform, they’ll collaborate on information and exchange insights. With improved UI and customizable style choices, trendy embedded analytics provides much better user expertise.
3. Upsell opportunities provide additional revenue sources.
You will be able to develop revenue streams and upsell them because of the tremendous value that current embedded analytics provides to your customers. The analytics module could (and should) be used to generate extra revenue. Alternatively, you could integrate dashboards and embedded reports as standard in your app and reserve automatic insights as an upsell opportunity for your sales team. Data storytelling tools like Yellowfin Stories and Present might be used to accomplish something similar.
4. Quick market entry
You’ll inevitably run into build and deployment challenges, setbacks, and delays if you construct your analytics capabilities. The longer you wait to go to market, the longer it will take for analytics to create income. However, with the appropriate embedded analytics partner (note: because you’ll be embedding their software into yours, you’ll be in a business partnership with them, so choose wisely), you’ll be able to come to market quickly.
At Yellowfin, for example, we provide a QuickStart package that leads you through all the integration and produces best practice dashboards and reports in the Yellowfin platform.
We’ll additionally show you the way to advertise your app and the way to coach your sales division to supply the new edges that go together with incorporating analytics.
5. You’ll concentrate your efforts on rising your primary product.
Instead of constructing it yourself, embedding business data and analytics permits your developers to concentrate on your main providing. Your goal is not to induce very cheap analytics.
We are perpetually upgrading yellowfin tuna, introducing new options, and desegregating the most recent technology to supply you and your purchasers with a stronger product and knowledge. you simply cannot devote resources to something like that while not jeopardizing your core providing.
What to do before putting analytics in place
Although there are numerous advantages to incorporating analytics into business apps, ensuring that it provides value to your users requires additional forethought.
Assess the analytical maturity of your software: The correct framework, strategy, and vision drive an amazing, embedded analytics offering, necessitating the need to identify and address areas where your application’s BI maturity level may need to be improved. The Embedded Analytics Maturity Curve is designed to help you do just that.
The first, but far from the only, argument in analytics adoption journeys is whether to build or buy embedded BI.
When it’s time to upgrade, look for the following indicators: If the analytics in your product can’t keep up with what your users demand now and, in the future, they’ll turn elsewhere for their BI needs.
Using augmented reality in embedded applications is the way of the future.
With the growth of augmented analytics, which involves the use of machine learning (ML) algorithms and artificial intelligence (AI) in analytics, more and more manual labor incorporating intelligence and analytics is being automated.
If you have embedded analytics in your software product, this automation is a significant value for you and your clients. You can advertise an AI-powered product and give data insights to your customers faster than ever before with augmented analytics.
Automated data discovery, such as Yellowfin Signals, will monitor your client’s data for trends and patterns and notify the relevant end-user of any statistically significant changes immediately. Dips, spikes, trend direction shifts, and step changes are all possibilities.