Embedded analytics can make up more than half of an application’s total value. But not all business intelligence projects are created equal. Features range from basic dashboards and reports to sophisticated capabilities that drive revenue.
Do you know where your analytics dashboards, reports, and other BI tools fall along the capabilities spectrum? Find out in the new Analytics Maturity Assessment Quiz, an interactive tool to help you gauge the maturity of your company’s analytics offerings.
Your results will depend on a number of factors, including how you present analytics to your end users (in a standalone application, a separate tab, or integrated fully into your business applications), the level at which you can customize the user experience, and what features and functionalities you include with the analytics—among others.
The Analytics Maturity Model
It’s inevitable that end users will always demand deeper, more sophisticated analytics capabilities. That’s why Logi created the Analytics Maturity Model (below), which represents the five levels of analytics maturity that can be seen in a variety of business applications.
As depicted here, there are five levels of analytics maturity in our model, starting with Standalone Analytics Applications (Level 0). Moving up to Levels 1 and 2—Bolt-On Analytics and Inline Analytics, respectively—results in some improvements to the user experience, but it’s only a matter of time before your end users demand even more advanced features. The biggest opportunities for revenue and competitive differentiation are found at Levels 3 and 4—Infused Analytics and Genius Analytics. At these levels, sophisticated capabilities such as embedded self-service analytics are much easier to charge a premium for compared to the capabilities at Levels 0, 1, or 2.
The further you advance on the Analytics Maturity Model, the more value you can add to your software application. In fact, companies with higher levels of analytics maturity are 84 percent more likely to charge more for the analytics in their applications.
In today’s data-hungry world, meeting basic requirements is no longer enough to differentiate your application. Outdated analytics can even put your company at risk and cost you revenue.
Get Started! Ready to find out where your BI offerings fall on the maturity scale? Take the Analytics Maturity Assessment Quiz to get your personalized results.