What is OEM Analytics? And Its Pros and Cons

How do you define OEM Analytics?

SaaS companies can utilize OEM analytics software to reduce development costs and seamlessly integrate with their existing applications. An OEM software package comes pre-installed with your device's hardware. Essentially, it is software that is sold wholesale to hardware and software manufacturers in order to be bundled with their existing products. The OEM is typically a direct customer of a technology company that sells to consumers directly. Alternatively, OEM software is third-party software that comes with your device.

In what ways does OEM analytics software work?

Many different industries can benefit from OEM analytics software, which allows businesses to collect and analyze data. Analytic software is used to provide accurate data that users can easily understand and act upon as a result.

OEM analytics software offers a wide range of functionalities. An OEM software, for instance, can make recommendations based on data that reflects the sales funnel directly. There could be suggestions for UX/UI design, content to produce, sales approaches, or ways to improve your application's features.

Additionally, OEM software prescriptive analytics can be used to prescribe potential solutions to questions. Experienced professionals can provide answers to what-if scenarios by combining descriptive, predictive, and prescriptive analysis methods. Data from past situations is used to analyze what might happen in the future and formulate solutions that are statistically likely to result in better outcomes.

What are some pros and cons of OEM analytics software?

The pros of OEM software include:

Cost-effectiveness - OEM software's main selling point. Having your company partner with an OEM will reduce your development costs since you won't have to build your own factories. The OEM software is simply integrated into your product and marketed under your own brand.

A good return on investment is provided by OEMs – According to The Street, OEMs give their business partners a good ROI. In addition to extending the life of a partnering company's product, their parts, components, and products save money on replacement parts, increasing the bottom line of the company.

OEMs guarantee quality - When partnering with OEMs, you're partnering with a production partner who has both the expertise and experience to build a product like that. Every OEM product or component is tested for quality to ensure it meets the specifications of the partnering company.

OEM software has the following cons:

Scams & Legitimacy - Through OEM software is legal to purchase, there could be confusion about its legality. There are some online sellers who offer discounted software under OEM labels without being authorized to sell it by the publisher. In order to avoid getting ripped off, whenever you're considering buying OEM software, make sure it is the OEM license rather than a pirate offering.

Increase in price - A high minimum order quantity is needed to purchase OEMs because they are usually sold in large quantities. The cost for your company may increase if you don't meet that order quantity.

What are the benefits of purchasing OEM analytics?

OEM analytics would be purchased if you already own a software application and want to include analytics within it. It is possible to deliver greater value to your customers by offering analytics alongside, or even embedded in, your software product.

By purchasing OEM analytics, software product owners do not have to spend time and resources developing their own analytics modules. Embedding OEM analytics rather than building their own saves product owners months to years of development time and time to market.