In the past, only Fortune 500 companies could afford to use reporting capabilities like dashboards. Building data warehouses was expensive and would take a lot of effort for a small business to achieve its goals. However, more technologies have come up and with this influx there are affordable embedded systems that small and medium-sized businesses can use. Dashboards are becoming more common in consumer products like the FitBit as well as in business applications like CRM and supply chain management software.
What is embedded analytics?
Business applications have for many years been offering basic reporting capabilities. A good example is the capability a business offers in the exportation of sales in Excel format while echoing data from a CRM system. Technically, this would make it more difficult to make accurate deductions since it requires additional computations to arrive at a definite answer. Most of these capabilities fall short as far as explanatory data goes. Lack of visualization makes business analysis difficult. To get rid of this problem, businesses, especially those that deal with huge amounts of data, have resorted to the use of embedded systems that offer visualized data.
Types of analytics you could use
Embedded analytics come with robust reporting functionality and present data through visual dashboards. A good example is the embedded analytics from Izenda that go beyond visual analytics and reporting. Basically, the analytics that one can use in this case are predictive and offer reliable reports of the movement of data and the outcomes to embrace. While predictive analytics offer a reliable technology, it is quite simple for organizations to come up with analytics applications.
Benefits of embedded analytics
Some of the benefits that come with embedded analytics can be seen through elevating the performance of the business while managers also get a chance to explore the different options they can embrace to make better decisions. With embedded analytics, there is better adoption than the traditional BI. The adoption rate of these systems ranges around 60 percent up from less than 30 percent in the previous reporting capabilities used by businesses.
Revenue growth is another factor that one also enjoys when they consider getting modern embedded systems. This comes from the fact that the development teams tasked with various jobs are able to compare what competitors are doing then come up with better tackles. It also helps them to differentiate the solutions they have from the ones offered by competitors.
Improved user experience
Virtually all companies will agree that to achieve success using an application, one has to start with offering great user experience. Without analytics data, it is not easy to know how users feel about the UI your applications run. You are only able to give a better experience after researching to know what users want. This can be achieved easily with the right embedded systems. Business intelligence is a vital driver of development and can be used to spur growth if the right information is collected, so using embedded analytics comes as a perfect way to push for business growth and customer satisfaction.