Why You Need An Embedded Analytics Strategy
Embedded analytics has become standard practice for a large number of companies. It saves time, streamlining workflow and data reporting. It allows you to reach new customers and improve your digital presence. As the digital landscape continues to change, it is more important than ever to have an embedded analytics strategy. Without one, you could find yourself falling behind.
In this article, we will cover the basics of embedded analytics, and explain why you need an embedded analytics strategy now.
What Is Embedded Analytics?
Embedded analytics is an integration of data from multiple sources into one place. With embedded analytics, you can easily access, understand, and compare previous and current data, directly in your portal or application.
Why Should I Have an Embedded Analytics Strategy?
Embedded analytics can help your business in a number of ways. Whether you need to improve day-to-day procedures within your organization or to create stunning data reports for customers, you can benefit from an embedded analytics strategy.
Streamline Internal Processes
When you have a variety of internal departments and employees, it can be difficult to manage communication, schedules, and other workflow processes.
An internal embedded analytics solution cuts down on unnecessary back-and-forth and effectively streamlines daily operations through automation.
An automated analytics solution will source, extract, store, and transform data with ease. Reports can be created at the published immediately and shared across your organization. Alerts & subscriptions can be sent out to notify you of important information.
No matter how you use embedded analytics in internal processes, automation allows you to empower your people by saving them time and giving them access to the information they need to succeed in their work.
Demonstrate Value
When you want to show value to sponsors, partners, investors, and customers, it is crucial that you have data to back it up.
If you have data stored in multiple platforms, it will take extra time to source, extract, and report on the data. It may even be impossible to show your real value or growth with data from too many sources.
Embedded analytics can bring together data from your social media platforms, Google analytics, email newsletters, advertisements, and more. You can easily create well-polished and easy-to-understand reports within your dashboard, and share them with others.
Secure Your Data
One of the most prevalent issues in our digital world is data privacy. It is essential to include security in your embedded analytics strategy so that you can secure your internal company data and your customers’ data.
You can integrate security into an embedded analytics solution by assigning permissions to specific users and groups. This will prevent users and outside sources from accessing information that is not theirs.
Reach More Customers
Customers value a well-thought-out user experience.
Embedded analytics provide customers with the self-service model that they expect from today’s digital landscape. They want to be able to navigate your interactive solutions easily and find answers to their questions without having to reach out to you. If you want to reach more customers, a front-end embedded analytics strategy can help.
Consider how you will style your dashboards or portal. What kind of functionality does your solution need to have? Will your design match your brand voice, or will it be more neutral? Do you need to have security measures in place for your customers?
All of these elements play a role in the overall satisfaction of customers and your reach with new customers. If you do not have an intuitive and well-designed embedded analytics solution, users are not likely to spend a lot of time exploring your website, product, or application.
Improve Performance
Embedded analytics provide you with historical data that you can use to improve future performance.
If you have been collecting data from Google advertisements and social engagement, you can tell which kind of content your fans and followers react to, and which kind of content they don’t.
You can leverage this information to improve your performance on social media platforms on Google ads and make comparisons between previous and current campaign efforts.
Additionally, internal data, like financial reports, can help you make decisions about future services and products.
You can review historical data to find out which services and prices won business, and which lost business. Or, find out which of your products did well, and create a plan for continuing its success or achieving that kind of performance with other products.
Get Started with an Embedded Analytics Strategy Today
If you understand the value of an embedded analytics strategy but just aren’t sure how to get started, contact us at XeoMatrix. Our analytics experts can help you create a strategy and make the most out of your data.