Often regarded as the oil of modern technology, data is generated at an exponential rate with each passing second. In fact, experts at WGD Analytics are of the view that in the coming time, the frontrunners within the business landscape will be those who are able to leverage data maximally.
With data being more crucial than ever, several analytics platforms are being developed. Speaking of which, BI (Business Intelligence) and embedded analytics are two such terms that we have been hearing every now and then in the analytics world. However, apart from the analytics experts, not many people have knowledge of how these two differ from one another.
While business intelligence is a set of tools and processes for analyzing data, embedded analytics, on the other hand, integrates the potential of BI platforms into users’ systems and applications. With this, the users are able to access only those data insights that are relevant to their work, rather than having to go through the entire information.
Embedded analytics is narrowly deployed for specific operations such as marketing, sales, or finance and with the incorporation of AI and machine learning in recent times, its potential has increased enormously. The best part? Unlike BI, it can be leveraged by all kinds of users including business leaders, executives, business partners, vendors, and consumers.
Here are what successful embedded analytics projects are capable of:
- Data visualization in the form of charts and graphics to display the performance metrics
- Self-service analytics wherein the users can ask questions about data to create their own dashboards and reports
- Enables users to compare their performance metrics with those that have the best business practices within the industry
- Prediction of current data along with possible solutions to change the outcome for the better
Given its enormous potential, embedded analytics is a must-have for all kinds of businesses. It is cost-effective, can be integrated seamlessly, and enables organizations to stand out from their competitors. So, why don’t you boost your software application with the power of embedded analytics too?