BI Trends

How Do You Know It’s Time for Analytics?

By Logi Analytics
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Organizations looking to expand operations must strategize how to deploy analytics to ensure successful business longevity. In today’s competitive landscape, analytics must be offered to provide value for end users for your application to stand out from the competition, regardless of the company’s vertical,.

Business intelligence encompasses reporting, analysis, data mining, data interpretation, and predictive analysis to provide a comprehensive analysis. BI makes it possible for companies to receive a competitive advantage in their respective marketplaces. In addition to tracking performance, using collected data can reduce inefficiencies and business risk for stakeholders.

Determining what’s necessary to make sense of data can be a tricky endeavor. Successfully analyzing data requires asking the right questions to yield meaningful answers. Without the correct solution in place, it’s difficult to contextualize results to answer these questions.

Why We Need Analytics

The rise in analytics is already happening, but it’s not too late to adopt a strategy and solution capable of making sense of data. Analytics isn’t simply about collecting data from disparate sources, rather it’s about finding methods to gain insights from that data. The goal is to derive insights that utilize a comprehensive view of the data to lead to revenue-generating decisions.

Currently, 82% of all users surveyed by Hanover consider analytics to be very or extremely significant to making sound decisions in their current role. That collected data helps manage functions such as budget planning, product development, and customer service, among other processes.

End users find analytics crucial in setting goals and key performance indicators based on provided information. These goals could be for the next month, quarter, or other selected time duration – focused on similar activities, audiences, products, or channels. Embedded analytics offers a modern solution to business intelligence, making collected data more actionable by workers and decision makers as its accessible within an end user’s typical workflow.

Analytics Able to Scale with Company Demands

If your business is on a growth track, now is the time to add analytics. Embedded analytics supports easy scaling as your company’s business needs continue to change. Decision makers tend to understand that future-proofing a technology is extremely difficult – but embedded analytics makes use of flexible delivery options and high-performance self-service service offerings.

Logi Analytics scales both vertically and horizontally using a commodity server infrastructure, freeing up the necessity of proprietary hardware management and maintenance. There is added flexibility with Microsoft Windows support, with deployments on-premises, in the cloud, or a hybrid strategy. There is no need for proprietary software or servers, so future scaling is far less cumbersome since a redesign or retrofit project in an environment is unnecessary.

Not only will you scale your own application, your end users can also benefit from analytics and operational report generators able to distribute important information at scale. Strong multi-tenancy functionality makes it possible for multiple users across different departments can access analytics dashboards and reports.

Final Thoughts

Analytics must be a priority for modern businesses, and now is the time to add them to your application. Make use of that wide array of data being collected to generate helpful insights leading to data-driven decisions, ensuring you’re not letting valuable information go to waste.

Looking to start your analytics journey? Learn these 7 key considerations for your analytics search.

Originally published October 14, 2021

About the Author

Logi Analytics is the leader in embedded analytics. We help team put business intelligence at the core of their organizations and products.