What is embedded reporting? In a nutshell, it refers to bits of actionable intelligence that are seamlessly integrated into products, applications, or services facing customers. Intelligent data can be presented in countless forms, ranging from helping users better understand their purchasing patterns over time to complicated charts and graphs of running distances and speeds. Data, imagination, and a robust analytics platform can create limitless possibilities. According to Gartner’s Magic Quadrant report on analytics and business intelligence platforms, the number of people using them in organizations is rapidly increasing.
Making analytics meaningful for your product’s users requires imagination. You don’t want to settle for just dropping a dashboard or data point into your application when it comes to incorporating the very core meaning of what is embedded reporting.
SAAS companies need embedded BI platforms today that support custom analytics that doesn’t just match your brand look and feel – that should be a given – but also allow your product team to customize the way data is accessed. Customer satisfaction and stickiness increase with custom icons and animations, ultimately translating into a superior user experience.
Embedded BI vs. Traditional BI – A Comparison
BI went from being a simple standalone application used for repetitive reporting tasks to a much more sophisticated and integrated tool. Applications teams are now integrating insights into the software products people use every day. Users who want to analyze their data are forced to switch from their preferred business applications to another analytics tool when BI is a standalone application. As a result, users become frustrated, and the adoption rate decreases.
Businesses can place dashboards and analytics within the applications they are already using and ensure their workflows are not disrupted through embedded BI. As a result, embedded BI is more widely adopted. Using one application at a time is more methodical and results in better productivity than using several applications at once.
The value of embedded BI lies in its ability to deliver critical data insights and actionable information inside the tools users use every day in their jobs.
Among the top reasons software teams embed BI into their applications are:
- The adoption rate of users is higher.
- Expends more time on the application.
- Provides value to the application.
- Provides a better user experience and elevates customer satisfaction.
- Achieves revenue growth.
Key Functions of Embedded BI Tools
Since the development of decision-support systems in the 1960s, BI tools have evolved. Among them were executive information systems, whose main function was to funnel information to senior business executives. Comparatively, modern BI platforms offer broader functionality and a user base that includes C-level executives, department heads, middle managers, business analysts, and frontline operational workers.
Business intelligence in enterprises today includes the following functions:
Monitoring and Measuring Business Performance
Executives and business managers widely use it to monitor KPIs and other business metrics to monitor the performance of an organization or individual business units over time. This allows them to identify and address business problems more comprehensively. One BI tool, for example, could show that product sales were below plan in one region, enabling your sales managers to take proactive steps to boost them in time to meet your quarterly target.
By allowing ad hoc queries on data sets, BI tools support more involved analytics than just tracking metrics. A BI analyst runs queries to analyze data to gain insights that can be used to optimize business processes, marketing campaigns, corporate strategies, and other elements of an enterprise. By querying and analyzing data, executives can detect new revenue opportunities that may otherwise be missed. In organizations, this BI function is the linchpin of data-driven decision-making.
Reporting and Information Dissemination
The BI results must be distributed or made available to business users to use them. In the beginning, this was mostly done through static reports, which were often sent out in the print form. Reports are still widely used, but dashboards are becoming more common. With their interactive interfaces and built-in data visualizations, they can drill down into the underlying data for deeper analysis.
Descriptive analytics is a form of conventional BI. An enterprise can respond to events as they unfold by analyzing historical data or real-time data streams. In contrast, predictive analytics predicts future events, such as customer reactions to marketing offers. Data scientists perform this type of advanced analytics. Still, BI tools can be used for scenario-based modeling, and what-if analysis queries to predict the outcomes of different business scenarios, adding predictive elements to the BI process.
What is Embedded Reporting?
The integration of data visualization and reporting features into another software application is embedded reporting. Essentially, it gives the end-user a window into the data held within a particular application.
The IT department assists in integrating reporting tools, such as charts and dashboards, into the existing software. The embedded reports and dashboards in the applications are easier to use, allowing users to analyze data and identify problems more efficiently.
By making use of tools like third-party analytics platforms, developers can easily embed reporting functionality in their applications, and, in turn, users can view and create reports in one place rather than using several tools. If CRM does not have embedded reporting, users might need to export data into a spreadsheet and then import it into a separate tool to obtain the data analysis they need.
How Can You Use Embedded Reporting?
To enhance existing business processes with minimal resources, companies can make use of embedded reporting and embedded analytics. Customers Relationship Management (CRM) suites are among the most common uses of these tools. Centralizing and optimizing sales and marketing operations through applications like these is becoming increasingly popular, and they generate vast amounts of data that must be quickly analyzed and presented.
Businesses can gain actionable insight from BI directly within CRM applications, and employees can make well-informed decisions to achieve greater success on a daily basis by embedding reports directly into CRM applications.
In addition to medicine and healthcare, embedded reports are useful in many other fields. Hospitals, clinics, and other healthcare facilities have to deal constantly with patient information, broader trends, and other analytics requiring immediate analysis to support quick decisions. These embedded reports can be used to cut downtime waiting for results and make better choices, which will impact the quality of care and overall service at the facility.
How to Choose the Right Embedded Reporting Tools?
Here are four features to ensure you get the best performance from your embedded reporting solution.
Software for embedded BI reporting should be one developer can seamlessly embed in any application, no matter what type of user it is. The tool should easily integrate data from different sources, whether deployed internally or via a cloud/SaaS application environment. Thus, users only have to consider the conclusions drawn from the data.
Easy to Operate and Maintain
After the reporting system is implemented, IT departments are accustomed to maintaining the system. Operating and maintaining a system takes just as much time as developing it. So, a convenient O&M system should be one of your top priorities when choosing an embedded reporting system.
Reports embedded in other software may present a security risk. Quality embedded reporting tools should readily integrate into security policies, user management, and management systems. Additionally, the device should allow you to set user roles, access reports, and secure other user data in multiuser environments in addition to supporting single sign-on.
The clustered report server architecture must provide high availability, load balancing, and scalability. Scalability is the property of a reporting system that allows it to be modified according to business requirements as they change.
Building Success with Embedded BI
In spite of BI’s many benefits, what is embedded reporting? It’s not a solution that fits all. You will need to use your BI tools for certain tasks, such as connecting to, transforming, or creating new visualizations. By embedding BI content, you can share analytics and insights.
Prior to embarking on a full-scale implementation, companies must carefully consider which tools are ideal for their needs. A close look at the organization’s needs is crucial when deciding whether to invest in embedded business intelligence tools.
Learn how a simple, embeddable ad hoc reporting engine can be used within your application by contacting dotnetreport! That’s not something you can commit resources to without adversely affecting your core product. By integrating the right modern analytics platform, your end-users can leverage the newest technology, getting to the heart of data insights faster. With the best embedded BI tool, make your analytics platform focused on innovation with the latest technological advances. Have a sustained advantage over your competitors with dotnetreport.