Who typically drives an organization’s analytics efforts—and in particular its embedded analytics efforts? Most often, it’s the product management team. Product managers like embedded analytics because it helps increase user adoption by providing an instant way to get information into the hands of more people within the context of everyday work applications.
Product managers continue to drive the decision to embed analytics in applications—but recently, embedded analytics has become a broader, more strategic initiative in many organizations.
In Logi’s 2016 State of Embedded Analytics Report, we found that executive management tied with product management as the top individuals who are leading embedded analytics projects. This is the first year both teams have shown an equal interest in driving the decisions to embed analytics. These business leaders are increasingly giving embedded analytics the credit it deserves as a strategic initiative because they are seeing the benefits it can provide.
If you look at a CEO of an application company, some of their priorities typically include:
- Grow revenue and hit the numbers
- Manage costs and meet shareholder expectations for profitability
- Innovate and out-execute the competition
And if you look at the Chief Technology Officer, their priorities usually include:
- Deliver the functionality the market needs at a high level of quality
- Bring products to market faster
- Utilize development resources effectively
- Continually improve products to stay competitive
Embedded analytics can help these executives meet many of these top goals.
- Embedded analytics helps enhance competitive differentiation and increase revenue.
- Embedded analytics platforms can deliver needed functionality while reducing the developer resources required.
- Embedded analytics can enhance sales and marketing effectiveness through better demos and shorter sales cycles.
- Embedded analytics platforms enable organizations to go to market faster with new analytics capabilities and without sucking up development resources.
So it comes as no surprise that the executive management team is now paying attention to embedded analytics. They realize how it can improve not only the applications they develop, but also their company as a whole.
Just remember: Implementing an embedded analytics project that significantly impacts your product requires a group effort involving executives, product management, developers, and many different roles in between. Even when someone new or unexpected is at the helm, it’s important to involve all key stakeholders for success.