Why Choose Embedded Analytics Versus Stand-Alone?
From this video you’ll learn what embedded analytics offer that standalone solutions don’t.
Marketers are big proponents of embedded analytics. But it’s not just about embedding one technology in another for convenience. They want to “raise the analytic bar” in their organizations. When analytics are integrated in everyday processes and workflows, it builds a stronger analytical culture.
Delivering analytics within a job role or function-specific tool also helps companies make more efficient use of their data. Moreover, when users engage with data on a self-service basis via embedded analytics, the tools they use show a high rate of adoption. And we’re not just talking about simple dashboards. Companies are embedding tools with a broad range of capabilities.
Why would a company chose to use analytics as embedded functionality within another application, rather than just deploying it as a stand-alone tool? Thanks for joining us. I’m Mike Lock, Vice President and Principal Analyst at the Aberdeen Group.
Today we’re continuing the discussion around embedded analytics. If you saw the first video in this series, you might recall our discussion of the expanded ecosystem of embedded analytics and all the various stakeholders involved. Well, this video discusses the perspective of the ultimate end user: the marketer exploring customer behavior through analytics functionality embedded within their marketing automation platform or, say, the sales director creating predictive models of sales activity within their CRM tool.
Why Marketers Want Embedded Analytics
So, why is it that these individuals are interested in taking an embedded approach in the first place? Well, we asked that question in a survey not too long ago. At the top of the list we have this concept of process and cultural improvements. Now what this really means--and this was spelled out a little bit more in that survey--is that companies want to raise the analytical bar within their company. What that means is they want more users engaged and they want it integrated--they want analytics integrated into the everyday processes and workflow of the organization, hopefully leading to a better analytical culture.
Embedding Analytics in the Daily Lives of Employees
It’s not just about embedding a technology within another technology. It’s about embedding analytical activity within the daily lives of their employees. They view embedded analytics as a way to make more efficient use of their data because, again, with more users engaged on a regular basis, they’re interacting with data more regularly and making better use of it. And the last two on the list here are connected. They see embedded analytics as a way to get more relevant capabilities into the hands of their users by delivering it within that job role or functional-specific tool, ultimately helping get the tools deployed faster and with fewer hiccups.
What Are Companies Embedding?
So, what is it that companies are embedding? We also surveyed some software providers and asked them to report back on which analytical capabilities are a part of their embedded package. It’s worth noting here that most of these companies are embedding a variety of capabilities as an integrated suite of tools so that most of the capabilities you see here aren’t necessarily embedded individually, but more likely as part of a larger package.
Beyond Reporting and Dashboarding
The main point here is that embedded BI has definitely moved beyond just simply reporting and dashboarding. Companies these days are looking for a more expansive suite of capabilities from interactive visualization and discovery, to data preparation, and, in some cases, things like predictive analytics as well. So, are these companies able to meet these objectives that we talked about earlier? One of the most important findings to come out of the research when you compare those taking an embedded approach to those using analytics as standalone functionality--we see some pretty important differences.
Embedded Analytics Boost User Adoption and Engagement
One of the things we track in our surveys is the level of adoption and engagement in analytics. Nobody likes shelfware. Nobody likes to spend time and money and effort implementing a solution that’s only used by a small few users. If you look at the progression here from adoption, the percentage of employees that are using analytics, to engagement, the percentage of users that are interacting with the technology on a regular basis, like on a weekly basis or more often, and then self-service, the percentage of users that can interact with the technology without a significant degree of support from IT, embedded analytics users are performing better across this value chain of analytics with a higher degree of adoption, engagement, and then self-service as well.
So, ultimately, the goal of getting analytics more engrained within the culture and the everyday workflow of the organization, this is an attainable goal with embedded analytics and the research really helps support that concept. So, thanks again for joining us today. Please be sure to check out part three of the series where we will be discussing the perspective of those delivering applications embedded with analytics. Thanks again and have a great day.