How is Embedded Analytics Transforming Organizations into Smart Enterprisesby Anjali UJ May 7, 2018 0 comments
Embedded analytics is the use of reporting and analytical capabilities in businesses and its applications. These capabilities can reside outside the application but must be accessible from inside without forcing the user to shift between systems. The incorporation of business intelligence platforms with the application architecture allows users to choose where in the business process, analytics should be embedded. Embedded analytics enables businesses to make precise decisions for a desirable outcome. Embedded analytics helps to improve user engagement, increase revenue and impart value to software applications. This article will help you understand how embedded analytics transforms business processes.
Embedded Analytics Improves Business Performance
Embedded analytics can provide a significant improvement in business performance. The integration of business operations with embedded analytics allow users take immediate action based on process analysis. Embedding analytical decision-making within operational processes helps to continuously improve operations by enabling actions based on real-time situations. For example, preventive maintenance can monitor issues based on the past patterns to alert the equipment break down.
Using Predictive Analysis for Better Decisions
Embedded analytics has been found to provide the most value when it is used to make the results of predictive analytics. Predictive analytics becomes the basis for operational decisions. Consider an example of embedding recommendation analytics into the system at the point of sale. Recommendation analytics running in the background might provide coupons based on what the customers are buying or checking online and providing suggestions for customers to buy.
Efficient Access with The Use of Analytics Everyday
Embedded analytics puts intelligence inside the applications, and insights and action are combined with the core workflow of an application. In doing so, more people across an organization will make use of sophisticated analytics output, including output from predictive models, when analytics is easily accessible from within their applications. From the consumer perspective, they also expect self-service reporting and ad hoc analytical capabilities that will enable them to question the data. Integrating the business intelligence platform with the application architecture helps users choose where in the business process the analytics should be embedded.
Business Effectiveness Through Data Integration
Embedding analytics into organizational processes can provide accurate information to decision-makers. Embedded analytics is integrated with existing systems like CRM, ERP, marketing and financial systems which can provide decision-making for a particular task. Embedded analytics can access core enterprise data to support the operationally oriented decisions without having to rely on business intelligence specialist to make the data available to them. When embedded analytics is incorporated with applications, it helps the business to react quickly to changes in demand, supply, capacity, and product which further helps in reducing the cost.
Analytics is bringing a radical revolution to the conventional way of doing business. Analytics provides humongous advantages and benefits to businesses. In the coming years, business intelligence will play a vital role to improve transparency to the end users. Hence businesses should emphasis on what the users’ values and wants and how businesses can deliver them to customers. Embedded analytics help companies to make changes to accommodate the values to be provided to the end users.