Every day that your product managers and developers debate over building or buying embedded analytics is costing you money.
The debate is as old as software development. Your developers love the creativity and flexibility of building. Your product managers want quick solutions to user problems. It’s a completely understandable position for each of these highly motivated groups.
But, as developers spend time researching components—will they work together, what are the commercial restrictions, and how often are they updated—your product continues to plateau, still lacking the functionality it needs to attract and retain users.
It’s time you step in and resolve the issue. Why you? Because according to a recent survey of 200+ executives, PMs, and developers who evaluated analytics in the last 18 months, executives drive these decisions.
Most product managers told us that, in fact, they hadn’t made a decision at all. More than 70 percent of their initiatives were either still under evaluation or they chose to keep their existing solution—despite the fact that the initiative was clearly undertaken because change was needed.
When we asked the same question to executives, just 47 percent reported that they hadn’t made a decision. And more than twice as many executives as PMs (35 percent) indicated they actually purchased a new solution.
Why does any of this matter? Because every day you postpone a decision, you are leaving money on the table. According to the 2017 State of Embedded Analytics, 78 percent of commercial application teams charge more for the embedded analytics in their products. Wouldn’t you like to charge more for your application? Every week of debate could be costing your company thousands of dollars.
Let’s take a simple example. Let’s say you have 25,000 users of your SaaS application, each paying you $20 per month. If you release an option for them to access analytics for just $5 more per user and get 25 percent adoption, every month you delay is costing you $31,250.
Delaying a decision means you also run the risk of losing potential revenue forever. Of those application teams that did not charge more for analytics, a full 55 percent said they couldn’t charge more because the competition got there first and they were forced to play catch-up.
So what is the right answer between build vs. buy? How can an executive find a solution that provides developers freedom to be creative without requiring they investigate thousands of components, test for interoperability, and hope they don’t break your application whenever they are updated?
The answer is different for every company. But many teams are finding that an analytics development platform is the right solution. A development platform helps you get to market faster, gives dev teams the flexibility to deliver features that meet customer’s changing needs, and offers the freedom to add new features over time for additional upsell opportunities.
As the leader in embedded analytics, Logi’s analytics development platform has helped thousands of application teams embed custom analytics in their products. Executives tell us there are many reasons why they love Logi, including:
- You’re able to drive revenue quickly. Logi’s Elemental Design gets your custom analytic applications to market quickly, driving immediate upsell opportunities.
- Logi doesn’t punish adoption. Unlike many out-of-the-box BI solutions, Logi aligns to your pricing models. Our flexible scaling terms don’t require constant additional licensing investment, allowing for rapid growth, higher profits, and ongoing investment in core product development.
- You can utilize your existing infrastructure. Logi’s solution works with your existing hardware, mitigating investment in redesigning or retrofitting your environment.
- Executives can create tiered offerings to monetize different user personas. Deploying new capabilities allows you to create niche tiered offerings. Not every user may need a deep level of embedded analytics, but you’ll be able to monetize users that desire specific capabilities that you can provide only to them.
- Users love unique experiences, and application teams love differentiated products. Create a custom experience tailored to your users that competitors can’t match by controlling the look, feel, and attribute of every element.