Embedded analytics is the name of the game in 2023.
The world of business is all about trial and error. You have to keep experimenting till you find an angle that takes your company to the heights of success you’ve been envisioning for years. However, at times it does happen that despite your best efforts, things seem to go wrong. This could be due to a variety of reasons, ranging from poor staff management to unreliable reporting.
Enter, embedded analytics tools.
Also known as embedded business intelligence tools, these are integral in analyzing data, which can then be used to create an efficient decision-making process. There are many embedded analytics tools available in the market currently, but you need to select one that will best suit your needs.
In this article, we’ll be going through these very tools to help you zero in on the right pick for your business.
What are Embedded Analytics?
Embedded analytics can be defined as the integration of the business intelligence tools, or the incorporation of the analytic content within the business process applications. Embedded analytics help users work in a smarter and more efficient manner as they provide the necessary information and analytical tools they might require.
By making use of growing revenue and increasing end-user adoption, embedded analytics can aid in amplifying the user experience. The users, therefore, benefit from this as they get access to valuable data that enables them to make quick and efficient decisions.
It’s through data visualization tools, visual workflows, mobile reporting, predictive analytics, benchmarking, and static and interactive reports that the analytics functionality is embedded.
There are two important use cases in embedded analytics. The first one is where you empower external users, such as the customers, by letting them create reports straight from the application. The second use case is related to the empowerment of internal departments.
This is done by giving them access to the data from business applications, thereby allowing them to make efficient decisions within the organization.
Pros and Cons of Embedded Analytics Tools
There are many reasons to use embedded analytics tools for your business. It’s better to weigh the pros and cons before selecting one for your organization. Here are some of its pros and cons to help you get a clearer picture:
Pros of Embedded Analytics
- Embedded analytics help you provide a good experience to the customers by enhancing the business applications. Analyzing data usually takes a lot of time regardless of whether you’re a retailer, business, or anyone with a lot of data to process.
- With embedded analytics, this process becomes much simpler. Analyzing the data helps you create strategies for the future, make better decisions, and also jot down forecasts for your company.
- When analytics are added inside a customer portal, you will be able to provide your users with a more personalized experience. This helps increase your customer loyalty and retention and also helps in the creation of new revenue opportunities. One of the biggest examples of this is Netflix, that’s known to make a billion dollars every year from customer retention alone.
- Organizations can make better business choices depending on the current condition of the market. Responding to threats and dangers becomes easier, and examining the performance of your business is made simpler, too.
Cons of Embedded Analytics
- The process of learning about embedded analytics can sometimes be difficult. If someone is not too tech-savvy, it can be pretty complex initially.
- The analytics offered are restricted to a single application.
- Embedded analytics don’t provide ad-hoc customization of reports.
Embedded analytics tools enable organizations to gain a competitive edge over their competitors, and help in the improvement of customer retention. It helps in lowering operational costs and generates revenue.
With so many available tools, it can be pretty confusing to pinpoint a choice. Hopefully, the list offers a solid primer to support the smartest decision for your business.
Note: There are micro-niches within the category of data visualization that you can also check out. Please see our reviews of best free data analytics software, best white label software, best enterprise BI tools, and best self-service BI solutions.
7 Best Embedded Analytics Tools of 2023
These tools are becoming increasingly popular among businesses, offering a way to integrate analytics capabilities directly into other applications. In this article, we will discuss the seven best tools for 2023, each with its standout features.
Microsoft Power BI
Microsoft Power BI is a powerful embedded analytics tool that offers a range of features for businesses. It provides real-time data visualization and offers a range of data sources and integrations for easy data import. Microsoft Power BI also offers strong data security measures, ensuring that sensitive data is protected.
Logi Symphony by InsightSoftware
Logi Symphony by InsightSoftware recently acquired four leading embedded analytics vendors – Logi Analytics, Exago BI, Dundas BI, and Izenda. Their focus seems to be on Logi Symphony at the moment, which offers a range of features for embedded analytics. Logi Symphony also offers strong white labeling options for businesses looking to customize their platform.
GoodData is a cloud-based analytics platform that offers a range of features for embedded analytics. It provides a flexible data modeling engine and offers a range of data sources and integrations. GoodData also offers strong data visualization capabilities and supports real-time data streaming.
Qlik Sense is another embedded analytics tool that offers a range of features for businesses. It provides a flexible data modeling engine and supports a range of data sources and integrations. Qlik Sense also offers strong data visualization capabilities and supports real-time data streaming.
Yellowfin BI (acquired by Idera)
Yellowfin BI is a self-service analytics platform that offers a range of features for embedded analytics. It provides a flexible data modeling engine and supports a range of data sources and integrations. Yellowfin BI also offers strong data visualization capabilities and supports real-time data streaming. It was acquired by Idera.
Tableau (acquired by Salesforce)
Tableau is a popular analytics platform that offers a range of features for embedded analytics. It provides a flexible data modeling engine and supports a range of data sources and integrations. Tableau also offers strong data visualization capabilities and supports real-time data streaming. Soon, it was acquired by Salesforce.
Yurbi is an embedded analytics tool that offers strong customization options for businesses. With Yurbi, businesses can customize the platform with their logo and branding. It also provides a range of data sources and integrations for easy data import. Yurbi also offers strong data visualization capabilities and supports real-time data streaming.
More About Yurbi
Yurbi is the top choice for businesses looking for a customized, affordable Embedded Analytics tool in 2023. With Yurbi, businesses can customize the platform with their branding, colors, and logo to provide a fully branded experience to their users.
Yurbi also provides easy ways to embed a single report or a full dashboard seamless within an application and as a self-hosted solution, Yurbi works perfectly in both hosted, on-premise, and hybrid environments.
With dynamic data source string support and dynamic data-level security, Yurbi supports both multi-tenant and single-tenant database models.
And Yurbi has a full API for automating common things like user and security provisioning and seamless login.
Yurbi offers businesses a range of advanced features at a fraction of the cost, ensuring that they don't have to compromise on quality while working within a budget.
Yurbi offers a valuable combination of advanced features and affordability, making it the best choice for businesses looking for an embedded analytics tool in 2023. Its customizable platform, range of data sources and integrations, and flexible data visualization capabilities make it a powerful analytics solution for businesses of all sizes.