What Are Some of The Advantages and Disadvantages of Embedded Analytics For A Business?March 27, 2019
What is embedded analytics?
Embedded analytics basically empowers the transaction process system (TPS) or the data framework. This helps to investigative administrations without being subject to any outside or outsider diagnostic application or framework. It helps activities/IT chiefs incomprehension, overseeing and enhancing the execution of the framework. There are several uses of embedded analytics such as data visualization, preparing interactive reports, mobile business intelligence and user engagement etc.
To get a proper understanding and use of this, there are a lot of business analyst courses, which would be very beneficial for you. There are a lot of courses present in the market, so make sure you make a smart choice. You must choose the course that aligns best with your interest. Everything has its pros and cons, and likewise, there are certain advantages and disadvantages of using this in a business setting.
Advantages of embedded analytics are:
1) Value and time
With the use of embedded analytics, you can enhance the business applications used by the customers. Whether you are a wholesaler, retailer, businessman or anyone with a lot of data. It is very difficult to analyze so much data in less time. Examining data holds a lot of value in a business. If the data is analyzed, it is easy to compare and form your strategy for the future. Analyzed data can help you make better decisions and can even help you make business forecasts. With embedded analytics, you can analyze data faster and make speedy decisions.
2) Great for engaging customer
By adding meaningful analytics inside customer portal, you can give customers more personalized user experience. This will help you to increase loyalty and retention and creating new revenue opportunities as well. Netflix is one company that has been quite successful in integrating embedded analytics for business. The research of Netflix claims that the customer churn has been decreased by a considerable amount making 1 billion dollars a year from customer retention
3) Better business choices
Embedded analytics helps users to get access to information which can help them to make business choices according to the changing environment. By using this, your employees can respond to dangers or threats faster than usual. This will assist the business a lot in making smart decisions. By using embedded analytics, it gives the option to the employees to rapidly make charts so that they can examine business performance whenever they want.
Disadvantages of embedded analytics are:
1) Not easy to use
Not all people are tech-savvy, and for some of them, the process can be very difficult to follow. Not all people can go through the trouble of learning this all by themselves as it can be very confusing and complex. We suggest that you should take up some courses in order to learn this like a business analytics course. There are several advantages of business analytics courses which would bring great value to you and your firm.
Embedded analytics enhances the client experience while expanding the end-client selection and developing income. Not at all like business intelligence programs, embedded analytics helps the user to engage in site for a longer time and analyses data to facilitate quick decision making. You should definitely give this a try, and if you want to learn this, there are a lot of ways you can do it. There are many books, courses and online platforms that can help you. We suggest that you should always go for a course as it is the most effective way to learn this.