Application teams are embedding analytics in their products at an increasingly rapid pace. More than 85 percent of application teams have embedded dashboards, reports, and analytics in their software products, according to Logi’s 2018 State of Embedded Analytics Report. And they’re seeing value from their efforts: 92 percent of respondents say enhancing their products with analytics has increased competitive differentiation, with over 90 percent crediting it with improving win rates, increasing adoption, and reducing customer churn.
Now a new survey from the Business Application Research Center (BARC) indicates even more value may come from embedded analytics. According to The BI Survey 2018, the world’s largest annual survey of business intelligence (BI) software users, companies that encourage more users to adopt BI also see additional business benefits from their BI projects.
“Companies claiming to have achieved the most benefit from their BI tools (‘Best-in-Class’) have on average nine percent more BI users than those achieving the least benefit (‘Laggards’), suggesting that there is a relationship between the number of BI users and the degree of benefits an organization gains.” writes BARC in the report. “This should provide an incentive for businesses to maximize BI tool penetration and train as many employees as possible to use their BI tool.”
If more BI users means more business benefits, the natural question becomes, how do you get more BI users? As Logi’s own data from the 2018 State of Embedded Analytics Report shows, the best way to increase adoption of BI tools is to embed analytics in the applications people already use.
In fact, embedded analytics sees twice the adoption rates of standalone BI solutions. Why? Because business users want to stay in one place, not jump from application to application to get what they need. In the 2017 State of Analytics Adoption Report, over 83 percent of business professionals expressed a strong desire to stay in one application, when and where a decision is needed, instead of wasting precious time switching applications. People clearly want their information in context of where they work, and embedded analytics delivers on this need.
According to our survey, 67 percent of application teams say time spent in their applications increased after they embedded analytics. On top of that, they cite the substantial business benefits of embedding analytics:
- 96 percent of companies said embedded analytics contributes to overall revenue growth
- 94 percent said it boosts user satisfaction
- 93 percent said they’ve improved user experiences
Ready to embed analytics in your application? Gartner outlines best practices on evaluating solutions in its analyst paper, “5 Best Practices for Choosing an Embedded Analytics Platform Provider.”