Embedded analytics has become a popular way for organizations to optimize the workflows of employees in certain areas. With embedded analytics, it’s possible to take data visualizations and other outputs and strategically place them where it’s convenient for the worker.
There are many ways enterprises can utilize embedded analytics. As noted by research firm Gartner, however, embedded analytics is still in its early stages when it comes to realizing its full potential. As it stands, “embedded analytics tends to be narrowly deployed around specific processes such as marketing campaign optimization, sales lead conversions, inventory demand planning and financial budgeting,” according to Gartner.
It should be noted that for the use cases listed above, embedded analytics provides the ideal solution for creating more efficient workflows. There are, however, many opportunities for organizations to springboard off these tried-and-true methods, and find new uses for embedded analytics.
Here are four ways embedded analytics can improve business outcomes.
- Visualizations When and Where You Need Them
As already mentioned, one of the top use cases and reasons for embedded analytics is the fact it can bring analytics to exactly where employees need it. Enhancing workflows should be seen as one of the most important factors when determining if embedded analytics make sense for your organization. It’s a good idea to approach this from a few different angles. Let’s start by looking at embedded analytics from the view of the employee.
No one wants to deal with inefficient systems at work. It’s both frustrating and a waste of time. This can be a major source of tension for employees if they’re up in arms about organizational BI resources. Work is much better when you have the right tools for the job. This will ease mental stress for employees and allow them to do their jobs better, while also feeling more appreciated by the enterprise.
- Faster Turnaround Times
From the perspective of the organization, of course employee satisfaction is an important element. But embedded analytics is about so much more than that. Here are a few other reasons embedded analytics provide a compelling value for enterprises:
- More useful and stickier applications. Leveraging a product like ThoughtSpot allows companies to build apps that incorporate their highly effective search-driven analytics function. These key pieces produce vastly more effective, and intuitive, tools.
- New ways of monetizing your data. Studies have shown over 70 percent of company data typically goes unused. Embedded analytics can help organizations find new ways of converting previously unused data into new revenue streams.
- Faster turnaround times lead to advantages in other areas. The fact embedded analytics saves your employees time should be seen as a massive win for everyone. This saved time can then be put to work in other ways—potentially giving you direct advantages over your competitors.
Clearly, there are strong motivations for adopting embedded analytics, both for employees and executives.
- Drive Your Data Culture Through Engagement
It’s likely you’ve heard the term “data-driven culture” used in recent times. This is both a huge talking point and a point of contention in the business world today. Enterprises are figuring out how to democratize data, thus allowing more people to contribute actionable insights, without compromising data security.
Embedded analytics can be thought of as a way of actively fostering a data-driven culture within your organization. With embedded analytics, relevant data readouts can be dropped directly into the workflow of essentially every employee. Getting employees’ feet wet in this way can help them understand the overarching benefits of a data-driven culture, without forcing anything.
There are several reasons embedded analytics can be an asset to enterprises today. Consider how adopting embedded analytics might benefit the functionality of your organization.