Embedded analytics, put simply, is the integration of analytical capabilities and data visualisations into another software application.
A key benefit of using embedded analytics within software is that users can access embedded real-time reports and dashboards. This therefore allows easy identification and mitigation of issues. It is also easier to spot opportunities to take advantage of.
Above all, embedded analytics provide a window for the end-user into the data held within a specific software application.
In this guide, BDI takes you through the core common capabilities of embedded analytics within a software solution.
Table of Contents
Data preparation via embedded analytics
Data must be ready for analysis for any analytic project to be successful. As a result, embedded analytics solutions provide what you need to connect and extract data from multiple data sources.
They also provide easy access to data outputs. This allows end-users to easily consume accurate data, which provides its own benefits to an organisation.
Dashboard reporting tools
A dashboard is the best way for users to visualise multiple data reports in one place.
For a dashboard to make a positive contribution to an organisation, it must provide a clear overview of the business’ performance. This includes your organisation’s KPIs and any data that reflects progress towards overriding goals. Furthermore, this information should be presented clearly and concisely, so users can understand what they are looking at from a brief glance.
Further refinement of modern dashboards creates an even more convenient user experience. They can be coded to include actions such as order buttons, meaning users do not have to leave the dashboard to complete their workflow.
Data discovery through embedded analytics
Users need to explore available data to be able to understand their business. This means the data must be easily discoverable.
Data discovery capabilities enable all users to share and disseminate information from within a workflow in a standardised manner.
This process can be improved further by using artificial intelligence and machine learning tools. For example, machine learning algorithms can continuously search for patterns in data and automatically alert relevant users when there is a statistically significant change.
Interactive reports for users
Reports should be easy to build and interactive. Intuitive interfaces allow users to truly maximise their available data, as it is all easily accessible.
Embedded analytics within BI software allows users to build their own reports, drill down into further detail, visualise the data in tables and charts, query the data, and compare the data with other data points.
Machine learning also aids interactive reports. For example, machine learning algorithms can introduce the ability to click on a data point and have it automatically explained through related data and natural language explanation points. This provides greater clarity on the data, meaning the action is taken sooner.
Mobile reporting with embedded analytics
Mobile reporting opens up many new opportunities for businesses. Embedding analytics within tools that are accessible on mobile devices, therefore, makes positive contributions towards productivity.
In fact, being able to view dashboards and reports on mobile devices is critical in some industries. For example, being able to see machine performance, downtime, and production rates from anywhere on the factory floor.
Mobile reporting also provides benefits to office-based roles, as important data can be accessed from anywhere. This means that remote workers have access to the same information that in-office teams do.
Collaboration within software
Governed collaboration over data insights and report creation saves users large amounts of time.
If users can collaborate in the same place that the data is presented, rather than copying and pasting screenshots into emails and instant messaging platforms, they are able to spend more time on the platform. This means they will easily see the latest information in order to take the most appropriate action.
Embedded analytics introduce convenience and a level of accessibility to business intelligence software users, helping them to make the most of their available data. Good embedded analytics follow the same principle as good dashboards – simple, concise data that serves a purpose.
The augmented analytics trend is only going to increase with automation expanding into more of the traditional analytics capabilities and assisting analysts and end-users in their quest for insights and explanations.
How BDI can help
BDI offers a range of solution modules that provide easy access to your organisation’s key data. Our Budgeting & Forecasting module in particular allows you to pay close attention to your key financial data. If you are interested in introducing more data reporting and monitoring capabilities to your organisation, please get in touch with one of our business experts today. We would welcome the opportunity to help you use data intelligently.