Embedded analytics drives over half the total value of applications, according to the 2018 State of Embedded Analytics. This value is something the Medical Group Management Association (MGMA) saw firsthand. After embedding analytics, they turned their struggling application, DataDive, into a flagship product accounting for 76 percent of total product revenue.
DataDive is a self-service application that analyzes data from individual healthcare practices as well as benchmark data from across the industry. Unfortunately, over time, MGMA customers became unhappy with DataDive’s limited features and functionality.
To remedy these complaints, MGMA decided to work with a consulting firm to develop a custom analytics solution for DataDive. However, the team soon found themselves with an overwhelming backlog of customer requests for improvements. After outsourcing the initial development of their embedded analytics, MGMA had no sustainable or cost-effective way to implement changes or meet new customer needs over time.
Using Strategic Partnerships
David Litzau, Director of IT for MGMA, knew they needed a more financially sustainable solution that would allow the team to innovate faster. Litzau needed a strategic partner, and he chose to work with Logi’s analytics development platform.
Using Logi’s elemental design, MGMA was able to rapidly develop and deploy the new and improved DataDive. They now release annual updates to DataDive two months faster than their previous outsourced solution. This shorter development time allows MGMA to quickly deliver the latest analytics features to market.
Fast forward to today (seven years later): DataDive is MGMA’s most profitable data product, accounting for 76 percent of the company’s total data product revenue.
The Unexpected Business Impact of Embedded Analytics
In addition to driving revenue, DataDive has also provided MGMA with new opportunities to scale. In fact, MGMA was able to deliver their product with a new licensing model (multi-user licenses versus a single user structure), thus expanding their customer base and increasing revenue.
Also because of Logi, the development team can now rapidly incorporate ad hoc reporting requests and add features throughout the year. Requests that once took weeks to deploy take just days. Not only does this agile approach keep existing customers happy, it allows engineering resources to refocus on developing the core product.
Having a strategic long-term partner invested in DataDive’s success has strengthened MGMA’s business. By freeing up development resources and satisfying users with faster response times, DataDive remains profitable and competitive in the marketplace—and is MGMA’s most profitable data product to date.