Written by GoodData Author |
GoodData and Ovum have focused on how companies leverage data by making it accessible “for the many” with the use of embedded analytics. Every organization, no matter its size, industry, or level of maturity, should start generating more economic benefits from the data their business or industry generates.
Wait, what do you mean by “data for the many”?
BI and analytics have long been mainly used as a means to help business leaders (with a TON of help from data engineers, analysts, and scientists) capture information about the market or business and support strategic and tactical decisions made by the same group of people. With the ongoing increase of data volume, variety, and velocity accumulated by every organization, some leaders have asked the very simple question: What if we put data into the hands of every single employee, in the context of their work?
Operational decisions that impact business are made every single day. Who is making them? Everyone! Every single employee, partner, customer; every user in their own context. Those who don’t have data just use their experience or intuition. And that can quickly lead the business in the wrong direction.
Giving data in an easy-to-understand format to every single user can dramatically improve your bottom-line. Imagine if every sales or support staff member has a unified 360-degree view of the customer they are (about to) talk to. The level of detail helps them increase satisfaction, leading to higher retention rates and improved likelihood that they will buy again or refer a friend. Or when an insurance agent knows every level of detail involved with a prospect and can benchmark how others would rate their offers—making an on-the-spot insurance offer the best one the customer can get.
Ok, so what about “embedded analytics”?
There are plenty more situations where analytics can help every user in their daily job—with and without them knowing. Getting analytics integrated seamlessly into the context of every user is referred to as “embedded analytics,” it is inseparable from the main workflow or business application. The user doesn’t have to 1) go ask someone to get an answer, 2) go into another product/application and mine the data, or 3) learn about the specifics of each analytics approach. The users are informed right then and there by the system, so they can drive better business outcomes in the moment.
Embedding analytics requires product and IT teams address more complexities than ease of use. The simplicity required to build and maintain analytics for all users, cloud economics that make the environment cost-efficient, and time taken to deliver the first—and every next—version are just a few main things that you need to consider when building embedded analytics for the many.
Interested in learning more about what to consider when building embedded analytics for the many? Watch the webinar!
Hear Tom Pringle, Head of Technology Research at Ovum, and Jiri Tuma, Principal Product Manager at GoodData, discuss how to use technology to overcome challenges and leverage embedded analytics to achieve the promise of “data for the many.”
Written by GoodData Author |