Is your organization’s data analytics strategy based on traditional Business Intelligence tools? While the significance of using BI is understood by most and widely used in many industries today, Business Intelligence tools have seen a change, and a new category of tools called Embedded BI has emerged.
With traditional business intelligence platforms, a workflow that hinders the process of getting valuable insights as quickly as possible has been discovered. App logins, access permissions and assistance from data teams for report creation make insight generation and decision-making a lengthy process.
Embedded BI allows users to access analytics and real-time insights from within your existing Business application. It eliminates the need for external setups or the constant switching back and forth between different applications.
What is Embedded BI?
Embedded BI brings all the capabilities of Business Intelligence directly into the existing application of the user, giving them a richer context and quicker insights with applications they already know. By embedding BI into a familiar application’s interface, even non-technical users can easily go through the massive pool of data available and improve their business experience.
The adoption of BI increases with embedded BI because it is incorporated into an application that the customers use every day and are comfortable with. With increased user adoption, the data is more accessible and most decisions across the organization can be backed by data.
By including self-service reporting in your software, you can provide customers with another reason to engage with your product by empowering them to look up information on their own. They can construct the reports and dashboards they need whenever they need them owing to the user-friendly customizable reporting interface.
Benefits of Embedded BI
1. Accelerate Decision Making
When decision-makers are equipped with quality data, the enterprise becomes data-driven. Embedded BI allows non-technical users to make the most of the self-service abilities of the BI tool and eliminates the need to rely on outdated technology and data analysts. Once this is achieved, employees can analyze data in the application they use throughout their work. To drive actions at scale, it is important that insights be brought to them in their existing workflow rather than asking users to learn a new software application and adapt to a new workflow.
2. Increase Productivity and save time
Embedded BI saves time for everyone in an organization because the user would no longer have to spend valuable time trying to make sense of the insights generated and establish connections between the different metrics and parameters. The information is contextualized within their existing workflows and business applications. It also allows developers to spend time on the product and data teams to focus on higher-priority tasks. Therefore, the overall productivity of the organization experiences a boost.
3. Customized reporting
Reports are produced in real-time as data is updated with embedded BI. This makes it simpler for organizations to spot emerging trends and patterns. For instance, you may immediately run a report to find out which consumers are based in a particular region if you see a sudden increase in web traffic from that area. You may also track the evolution of marketing campaign performance over time using dynamic reports. You can have access to specific information regarding the effectiveness of your marketing campaigns by employing embedded BI software to track visitors’ entry points.
By allowing teams to share access to their data, embedded BI software enables them to work together toward a common goal. This not only promotes teamwork among employees, but also contributes to transparency with partners, suppliers and even clients.
5. Big data analytics
Businesses are gathering more data than ever before as a result of the Internet of Things (IoT) expansion. As more and more devices are linked to the internet, IoT will continue to gather more data. When incorporating analytics into an application, dealing with this kind of data volume can be difficult, but embedded BI platforms are made to manage massive amounts of data.
Essential Capabilities for Embedded BI
What core competencies are required for embedded BI?
- Pixel-perfect reporting – Offer pixel-perfect, dynamic data visualizations and graphs in your application, including real-time sorting, filtering and formatting of column numbers and headings.
- Ad hoc reporting- Integrate self-service reporting into your application to let users leverage a user-friendly drag-and-drop interface to find the answers they need.
- Interactive Dashboards – For the benefit of your application’s users, combine interactive reports, charts and other web material onto a single screen to create simple-to-navigate dashboards.
Data accessibility for internal teams and customers is made possible via BI integration across your business, giving you a competitive edge in an increasingly competitive marketplace. Business leaders can make informed decisions and understand complex data stacks with the help of embedded BI.