Why Spend Time and Money Developing BI? Embed BI in Your Software Product!
The research and technology consulting firm, Gartner predicts that ‘By 2023, overall analytics adoption will increase from 35% to 50%, driven by vertical and domain-specific augmented analytics solutions.’ Whether your software business produces solutions or modules for a vertical market, a specific industry or a government or public service market, building an analytical solution to serve your clients or partners is an expensive, complicated proposition and one that will require significant funding and skilled resources.
‘Having a built-in analytics solution that can be adopted without extensive training and used in a single sign-on environment to access analytics from within your existing software solution will increase customer satisfaction and put you ahead of the competition.’
In this article, we discuss just a few of the advantages of embedding BI and augmented analytics within your existing software in an OEM or ISV relationship.
Time to Market
Once your company has decided to become more competitive by adding augmented analytics into the mix, you face the issue of getting to market quickly enough to get the jump on your competitors and provide unique, user-friendly tools that your clients will value. Instead of building a solution or attempting to customize integration, it is more efficient and timely to use an embedded BI product, one with integration APIs that will allow you to build the simple connections and get started right away, ensuring rapid time to market with dependable, proven products.
Support for Users
Software businesses are keenly aware of reputation and customer satisfaction. You get one chance to impress and you won’t want to choose a product or solution that makes claims and then falls short. Features and functionality are important of course, but dependability, scalability, security and other factors must be considered in order to meet user expectations. You want to choose a solution that is supported by the service provider and will be upgraded and maintained to keep pace with the market – one that is easy to use; one that the users will WANT to adopt.
When it comes to business decisions, everything comes down to cost. Choosing a solution that leverages APIs to establish integration and ensure easy access is important. Providing a single sign-on (SSO) environment where users can access their favorite software and leverage augmented analytics, will provide an impressive return on investment (ROI) for clients and for the OEM or ISV and will improve total cost of ownership (TCO) and value to the customer or user. When comparing the cost of acquiring a proven, existing augmented analytics solution to the cost of building one in-house or spending the money to customize integration with your modules and solution, there is no doubt that the ease of integration APIs and access to databases and data sources is faster, less expensive and more effective for users and for your software company.
‘Once your company has decided to become more competitive by adding augmented analytics into the mix, you face the issue of getting to market quickly enough to get the jump on your competitors and provide unique, user-friendly tools that your clients will value.’
Software companies face the increasing challenges of market expectations, customer satisfaction and competitive strategies. Having a built-in analytics solution that can be adopted without extensive training and used in a single sign-on environment to access analytics from within your existing software solution will increase customer satisfaction and put you ahead of the competition.
Leverage the Smarten approach to Embedded BI And Integration APIs to add powerful functionality and provide access to existing ERP, SCM, HRMS, CRM or any other products and to provide analytics capabilities within existing products without major Investment. Reduce time to market and stay ahead of the competition!