Today Embedded analytics is helping businesses move forward and helping them making right decisions.
So lets explore how – Data Driven Business Decisions are far more accurate than Goal Driven Decisions
It’s an exciting time for embedded analytics – in fact, it’s an exciting time in the tech world in general.
Cloud and SaaS services are in abundance – virtualization and other new strategies are making it easier to untether systems from hardware. At the same time, machine learning and artificial intelligence are adding to what digital platforms can do.
Another very exciting point on the horizon is the evolution of embedded analytics – the idea that you can get the power of analytics in a wider range of resources.
When it comes to embedded analytics, not everybody has the exact same interpretation of what this means. In a very general sense, embedded analytics means that user-friendly, self-service applications have analytics tools built into them, instead of the analytics being sourced through a more centralised – and often less accessible – model. So thats they Key. Analytics is built into the platform not sourced into the Platform – Says Techuva’s Architecture Team
Tools like QlikView or BO Report Adaptors – help end users to look for their much needed Analytics right inside application without the need for going a Report / Excel Download .
Example: – A vendor providing a hotel management application for hotel chains could offer AI functionality to the chain overall and to the individual hotels. Globally and locally, insights from customer data could then be used to improve hotel service and occupancy. So there by decision making for individual hotel and by global management remain data focussed and decision oriented.
Embedded Analytics can make life easier for users of the application. They can get insights directly from their data without needing to switch to another application. This saves time and effort. It also avoids the need for users to buy another application, or learn a new user interface.
Make or Buy ?
Analytics modules can be developed by own company or provided by a vendor. For embedding analytics in modern applications, it may make more sense to use an “off the shelf product” that specializes in this area. Software developers can then continue to focus on what they are good at, rather than trying to do everything themselves.
Therefore these embedded analytics deliver the “Insights Your Customers wanted without having to switch elsewhere”.
If you are thinking of using embedded reporting via a product, use this checklist to help you make the right decision:
- Independence – Can the BI or analytics module be embedded “as is” in your application? Or will it need additional tools or code to function properly?
- Scalablity – How many user requests can the module handle at the same time? Will it keep pace with increasing volumes of data and server power?
- Cookie Cutter Experience – How long will it take to make the BI or analytics module available to users? Normally, this should be faster than if you developed the module in-house.
- Flexibility – What are the options for accessing the module from another program (via an API) or creating plugins to use the module’s functionality? Can you customize its output or appearance?
- Security – How does the BI or analytics module make sure users see just the data they are authorised to see, and no more? How well does BI security extend to a multi-tenant environment and role-based security.
Embedded analytics primarily records, report and analyze every unique transaction, instance or process that takes place within the system platform. The captured data is fed into an analytics dashboard and is also available in various report formats.
-Techuva Architecture Team