Embedded analytics is a digital workplace capability designed to incorporate data analysis within a user’s natural workflow without using a separate application or software. Embedding analytics integrates reporting and business intelligence capabilities into one software application, where the capabilities exist natively, helping users work more efficiently using their everyday applications, mitigate issues, and spot opportunities.
Embedded analytics vs. business intelligence
Embedded analytics and business intelligence are often used interchangeably. While they have many things in common, the big difference is how they fit into applications and workflows.
Business intelligence is composed of people, processes, systems, and technologies that enable organizations to analyze data to guide strategic and operational decisions. Users have to leave the applications they use to get the insights they need using a separate set of tools. Thus, business intelligence fails to deliver the exact analysis because it is not integrated with the user’s workflow.
Embedded analytics, on the other hand, is a set of capabilities incorporated into an organization’s existing systems such as marketing automation, CRM, or financial systems, and is designed to provide awareness and support in decision making. It puts self-service functionality and analytical output together in a business’s core applications, making everything available in one application.
Embedded analytics is usually purchased as a separate product that integrates with a customer’s applications.
Capabilities of embedded analytics
Embedded analytics offers a number of features and capabilities:
Data visualizations and interactive reports that include tabular views of data, with or without setting capabilities and parameters
Benchmarking to compare performance metrics against best practices and goals
Mobile reporting that enables interactive capabilities on mobile devices
Predictive analytics to so organizations can change outcomes based on current data
Benefits and uses of embedded analytics
Embedded analytics lets businesses focus more on their core mission and processes instead of being slowed by reporting issues. It also has the following benefits and uses:
Improved customer retention
Good analytics increases customer satisfaction and retention and product usefulness. Customers are less likely going to look for other products to satisfy their needs.
Lower occupational cost
Embedded analytics costs significantly less than maintaining a separate application or software.
Improved productivity with self-service analytics
With ad hoc reporting, each user can create reports they need when they need them. Embedding analytics removes the burden of report creation from the IT department.