Businesses are becoming more data-driven, and the potential to use data and analytics to differentiate market leaders is becoming increasingly important. Customers are demanding actionable insights into the apps, products, and services they use daily, and businesses of all sizes are trying to meet these demands.
Product managers understand they must provide their consumers with concrete insights derived from processed data. However, creating these features from scratch can sometimes be a difficult task. The answer is simple: add an analytics platform into your core product, like integrated business intelligence
Embedding an analytics system may also help a company get more value out of the data it has already spent time acquiring, keeping, and analyzing. Embedded business intelligence is among the most important use cases in the broader data analytics
sector, as companies leverage the technology to build extranet apps and give analytics as part of a larger business application. Those looking to integrate analytics tools into their existing business operations must prioritize their requirements in order of importance.
Why Should Businesses Choose Embedded Business Intelligence?
Embedded business intelligence (Embedded BI) is the future of BI, because it makes it easy for your employees to use dashboards and make data-based decisions as they go about their work. Let's look at some of the reasons why you should opt for embedded business intelligence.
Embedding BI allows you to leverage insights, making data more accessible irrespective of technical skills. Embedded analytics
tools provide you with quick access to data that can help you make better business decisions.
If “glitches” show up on the radar, strategic decision-makers can raise the alarm, assess the threat, develop remedies, and come up with solutions, and change the business course.
Create an Effortless Workflow
According to MarTech Today and Blissfully, "businesses with fewer than 50 employees have approximately 40 applications in total." The truth is that current employee operations are complicated and scattered across several platforms. BI platforms aren't a silver bullet for this challenge. Embedded BI, on the other hand, can be beneficial.
Embedded BI eliminates the need for your sales executive to make choices and streamlines their workflow. It seamlessly integrates the data into this team's existing tool process with minimal disruption.
Reduce your Reliance on Developers
Businesses that depend entirely on their overburdened developers to implement an analytics solution will invariably create a data bottleneck. Embedded BI tools reduce this barrier and encourages everyone who works with embedded data to be more flexible and iterative.
With the help of embedded business intelligence, you can check and analyze business data and adjust visuals on the go by utilizing dynamic data visualization
. Drill-down, filtering, and search are interaction options available on these embedded BI tools, allowing to freely explore reports and dashboards and extract crucial business insights.
Should You Build In-House Embedded BI or Buy a Third-Party?
When it comes to deploying an embedded BI tool, you have two options. Organizations can either develop their products in-house or buy them from a third party. Building an embedded BI platform from scratch might take a long time and may be costly like most businesses with software as their key competence, general companies should first explore commercially available embedded BI solutions. Also, purchasing embedded BI allows businesses to focus on their core competencies while leveraging the tools to deliver embedded BI features to users faster.
Top Embedded Business Intelligence Tools for C-Suite (Include cases)
Many embedded BI tools are available in the market but choosing the most appropriate tool from among them is a major task. So, to end your search for the perfect embedded BI tool, you can check out the list below. We have also included case studies of these embedded business intelligence applications for you to make a better decision.
Sisense BI Helps Crunchbase Get Access to the Right Data across the Organization
In the business world, Crunchbase is the most important database, and they needed a powerful platform to get all their data together, so they went with Sisense BI.
Crunchbase was able to take its analytics to the next level using Sisense for Cloud Data Teams, which allowed them to access their data, from their marketing stack to Salesforce platforms to website impression data, to create a holistic view of their business and customers.
It's also good for Crunchbase's marketing team because the interface of Sisense is easy to use. This makes it easy for business users to understand data on their own and use it for decision making.
Microsoft Power BI Helps Heathrow Airport in Making Travels Less Stressful
Heathrow Airport serves as the U.K.'s international gateway. Heathrow Airport serves 80 million passengers each day, and the airport is utilizing Microsoft Power BI
and Microsoft Azure to make travel less stressful for travelers. With the help of Power BI, Heathrow Airport gets real-time operational data for its employees. It enables to assist passengers in navigating the airport despite bad weather, canceled flights, and other delays.
For example, a disturbance in the jet stream caused a delay of 20 flights, resulting in 6,000 more passengers arriving at the airport at 6:00 p.m. Previously, employees at immigration, customs, luggage handling, and food services would not be aware of the unexpected passengers until they arrived, forcing them to make do with what they had. But now, all these employees are notified one to two hours prior so that they can arrange extra workers, buses, food, and other resources to assist with the inflow.
Qlik Sense Helps Tesla Users Get Information About Tesla SuperCharge Stations
Tesla customers use a Qlik Sense application to track the locations of Tesla supercharger stations and obtain information about them. The software uses real-world road network computations and overlap predictions based on Tesla vehicles' typical battery range. This app needs to work with Qlik GeoAnalytics because it displays supercharging stations on a map.
Charger status is also displayed on the dashboard. You can make choices based on where you are on the dashboard, and the program will respond based on the associations between data sets.
Embedded business intelligence has significant potential for small firms and enterprise powerhouses alike.
outperforms previous solutions in extracting the most value from your data and enabling today's crucial business choices. However, long-term use of embedded analytics will require a significant amount of work on the part of the C-suite. The C-suite will have a positive influence and assure continued analytics success by applying predictive analytics, integrating machine learning, and encouraging a data-driven culture.
Is there a limit to embedding analytics into existing applications?
Embedded BI products have less limitations than independent tools and are mostly more capable. Machine learning, NLP, and artificial intelligence (AI) are included in the current, more modern generation of embedded systems, although these abilities are generally not included in standalone solutions.
What should purchasers keep in mind while selecting a vendor?
Users who have only used a typical BI or data analytics tool should be wary of colorful charts and data visualizations. Buyers must think about the long term, particularly when it comes to product maintenance, making changes across instances, and offering a simple yet tailored experience to the end-user.
Are embedded business intelligence solutions easy to set up?
The beauty of embedded analytics and BI solutions is quick and simple to deploy. You can either add them to an existing system or design a new one based on your requirements.