Meaning of Embedded BI
The integration of BI tools and procedures for turning data points into resources that users can utilize to make smarter business decisions is known as embedded business intelligence (BI). Business intelligence tools and processes include collecting, storing, and retrieving data, generating reports, dashboards, data visualization, and much more. Since embedded BI is not a standalone application and instead integrates all of its features into the applications that consumers already use, it differs from traditional BI in this regard.
How Is Embedded BI Used?
Embedded BI is significantly more flexible than traditional reporting and analytics solutions and enables users to quickly combine data from many sources to cater to business needs. Users can quickly examine business data and analyze the outcome without having to wait for assistance from the company's IT department. Users may obtain the data they require, analyse it, and decide what steps to take to accomplish their goals with the help of embedded BI. Data from business activities are collected, processed, and then stored in a data warehouse by the embedded BI tool. All users have quick and simple access to stored data so they may begin analyzing it to address business challenges.
Additionally, self-service BI capabilities and embedded BI offer customization choices that let customers further tailor their business applications to fit their unique brand. They can customize the typefaces, colors, and overall brand concept of their embedded reports, dashboards, and visualizations to match their own special applications.
Benefits of Embedded BI
There are a variety of benefits to investing in an embedded BI tool. Some of them are listed below:
What to Look for When Choosing an Embedded BI Solution?
Ad hoc reporting, data visualization, and creating personalized dashboards are a variety of embedded BI solutions. You should carefully research an embedded BI solution's features after you've decided that you need one for your business. Here are the following factors to consider when opting for an embedded BI solution:
Native app integration: The right embedded BI solution should integrate with all your applications in a seamless manner. In order to avoid taxing your IT department, look for a solution that won’t lead to increased burden and complexity. Look for an embedded BI solution that was designed with embedded in mind first.
Connectivity: Don’t limit your evaluation of a vendor to their reporting and visualization capabilities. If it cannot connect to all of your data, what use is it? Make sure that the embedded BI solution provides seamless integration with all the data sources that you require.
APIs: The embedded BI solution that you choose to implement in your business should also include an application programming interface (API) to enable business applications to use custom hooks while embedding the BI capabilities.
Mobile BI: Nowadays, it has become a necessity to access key business insights at your fingertips. With unique Mobile BI capabilities, users can harness the power of analytics even on the go. This way, valuable business insights are easily accessible to users on their smartphones whenever they want and take action when it matters most.
Scalability: The scale of the solution’s operations must be flexible enough to upscale or downscale in response to changes in its user base. This means that an effective embedded BI software will enable you to expand the resources you already have to handle growing business demands or changes.
Pricing: Many embedded BI vendors employ shady pricing tactics to maximize cost savings and increase their business revenue. You don’t want to work in partnership with a vendor who will charge you unpredictable costs like consumption and users, for instance. It is highly recommended that you choose an embedded BI provider with a fully transparent pricing model that won’t escalate with an increase in the sales of your app.
Embedded business intelligence enables organizations to make data-driven decisions across teams and departments that can enhance the bottom line of the business. Now is the moment to start incorporating analytics into your products and services if you haven't already. You'll be able to significantly improve the value of your existing software, get a competitive advantage, save time, money, and resources, and simultaneously expand your company and boost your revenues at the same time.
READ MORE: How Embedded Analytics Help Businesses Drive Adoption And Growth