Where Does Embedded BI Fit in Business Decision-Making?
Recent research reveals five primary benefits for embedding business intelligence into popular business apps and software:
- Improved user experience
- Increased user adoption when compared to separate BI tools
- Improved data insight and clarity
- Optimized business performance
- Improved business decision-making.
‘Embedded BI allows users to gather, analyze and share data and to collaborate with other team members, thereby improving understanding of concepts, issues, challenges and opportunities across the organization.’
In this article, we will focus on the last of these benefits, namely, better decision-making. No matter the type of industry or business function, your users can benefit from using Embedded Business Intelligence tools.
- When healthcare professionals access data analytics from within business applications and systems, they can more easily spot trends, whether those trends relate to billing and invoicing or to patient care, medication efficacy or treatment plans. When the data is analyzed and produced in an easy-to-use format, the user can quickly analyze results and make better decisions, thereby leveraging resources and making the most of the knowledge and time of the user.
- Financial, banking and investment industries can benefit from Embedded BI as well. Users can monitor and manage income vs. expenses and analyze capital investments and risk. By embedding BI tools within familiar business systems, the enterprise can ensure that the user will make the best decisions to leverage investments, limit liabilities, manage assets and identify risks.
- Technology organizations can use embedded BI and analytics to analyze services, contracts, available resources for projects, probable skills shortages and hiring strategies, and other back-end issues and the business can analyze software features and modules and compare feedback from users to determine priorities for bug fixes, for new features and for new product bundles. Independent Software Vendors (ISVs) can take advantage of embedded analytics by integrating analytical capability within their existing software products and apps to extend and expand their market share and improve customer satisfaction.
- Users in the retail industry can take full advantage of Embedded BI with integrated, single sign-on access to data analytics. Team members can sign in to apps and software used to manage products, customers etc., and analyze data related to marketing and advertising campaigns and efficacy, to supplier and inventory data, and to customer targeting, demographics and buying behavior.
- Lenders can identify and target appropriately to avoid risk and clients who have a history of late payments. Insurance companies can manage trends in pricing, premiums and customer profiles.
Embedded Business Intelligence (BI) and analytics supports and improves decision-making in many ways, including:
- Presenting data in a way that is easy to understand and analyze for users without analytical skills
- Users can more easily gather and view data from within a familiar or popular business application and use that data to make concise decisions
- Embedded BI reduces the time it takes to make a decision and the quality of that decision
- Embedded BI allows users to gather, analyze and share data and to collaborate with other team members, thereby improving understanding of concepts, issues, challenges and opportunities across the organization.
‘No matter the type of industry or business function, your users can benefit from using Embedded Business Intelligence tools.’
You can find out more about the Smarten Embedded BI And Integration APIs solution and add powerful functionality and access to existing ERP, SCM, HRMS, CRM or any other products. Provide analytics capabilities within existing products without major Investment. Your business users and your customers will appreciate the ease-of-use and access and you will gain a competitive advantage. Read our White Paper: ‘Making The Case For Embedded BI And Analytics.’
Original Post : Can Embedded BI Improve Business Decisions?
