Why Should My Business Adopt Embedded BI and Analytics?
There are many reasons to consider adding embedded BI to your enterprise technology landscape. When you are making a critical business decision, one of the factors you probably include is how your competitors and other businesses are addressing the problems you are trying to solve. When making a decision about Embedded BI consider these survey results. Businesses that are currently using embedded BI within their enterprise, report the following:
Select the Right BI Tools and Succeed with Data Democratization!
Do you know what Data Democratization is? It’s simple, really. Data Democratization is the purposeful approach to cascading and integrating data into the daily workflow of business users to provide access to crucial information and the tools to analyze and understand that data and use it to make confident decisions. Instead of holding data in silos that are only accessible to IT, business analysts, data scientists and management, the enterprise recognizes the value of providing team members with the right information to do their job and contribute to the bottom line.
‘To succeed in data democratization, you need BI tools that provide data analytics access for all business users.’
Gartner predicts that, ‘75% of organizations will…deploy…multiple data hubs to drive mission-critical data and analytics sharing and governance.’ The key here is the ‘analytics sharing’ piece of the statement!
In order to fulfill the promise of this approach, your enterprise must employ business intelligence solutions that are easy-to-use and designed for business users, without advanced technical skills or advanced analytical skills. These tools allow your team members to engage in analytics and enjoy data democratization without the frustration of leveraging solutions designed for data scientists or IT staff.
Here are a few considerations to give you an idea of the kinds of things you will need to support your data democratization initiative. These factors are crucial to success, as they ensure that your users can and will adopt the BI tools you select to enjoy the new data access you have given them. Without these, you run the risk of spending the time and money to provide access and achieving poor return on investment (ROI) because of poor user adoption.
Embedded BI – By embedding business intelligence into the enterprise apps your users love, you can encourage data democratization and analytics in a single sign-on environment. Users do not have to sign in to multiple systems or move data around. They can start with the data within the ERP, HR, Finance or other system and perform analysis from within that system. Make it as easy as you can, and users will be happy!
Mobile BI – Don’t make your users sit at their desk in an office to use the BI tools. Make these tools accessible from the office and on the road, at home and in a client location or hotel. If you want your users to see the value in data democratization and you want to achieve your goals for this initiative, you must give your users the tools they need WHEN THEY NEED those tools.
Business Intelligence with Seamless User Access and Security – Data democratization does NOT mean throwing caution to the wind. Data must still be secured and accessible to users for the things they need to see, but not for the things they are not eligible to see and not in an environment where data security and privacy are at risk. To democratize your data, you must also ensure data governance, security and access standards and requirements are met.
Natural Language Processing – Make the augmented analytics and BI tools intuitive. Democratized data is no good if the users need an advanced degree to access the data. Natural Language Processing (NLP) allows your users to access data in a familiar way, with a Google-type search interface where they can ask questions using regular language and receive answers in a way that is easy to understand. If they can search, query and find information easily, they are more likely to a) use the system and b) understand the information they produce and make the right decisions.
Tools Designed Specifically for Business Users – The solution you select should be designed for business users, not for data scientists, business analysts, IT or statisticians. While you want the data democratization initiative to expand the skills and knowledge of your team, you do not want them to need advanced skills or training. Select a system that can be adopted and used within minutes – not months. Users want sophisticated functionality in an easy-to-use environment. That is important!
‘If you want your data democratization initiative to succeed, select tools that allow your team members to engage in analytics without the frustration of leveraging solutions designed for data scientists or IT staff.’
There are other considerations but, if you address the ones we have highlighted in this article, you will be well on your way to achieving your data democratization goals and ensuring that your users adopt the solution you select.
BI Tools should provide data analytics access for all business users. Simple, Self-Serve BI Tools can provide your business with the foundation to achieve your data democratization and user adoption goals. Let us help you achieve your vision and improve productivity and insight across the organization.
Technology research and consulting firm, Gartner, predicts that, ‘By 2023, data literacy will become an explicit and necessary driver of business value, demonstrated by its formal inclusion in over 80% of data and analytics strategies and change management programs.’
If your business is ready to implement a BI tool and augmented analytics solution, there are some things you will need to do first. If you plan correctly, you will enjoy a successful implementation. If you do not perform an assessment, understand your requirements and choose the right option, you are likely to fail in your initiative and your ROI and TCO will not meet expectations.
A recent survey found that 93% of application teams report improvement in user experience as a result of embedded analytics, and 94% of teams report improved customer satisfaction with embedded analytics. The concept of embedded BI is simple. By leveraging APIs, the augmented analytics solution is embedded within familiar enterprise apps and made available to users via single sign-on so that the user can access favorite software solutions and applications to perform tasks and use the data contained there to analyze data and make decisions.
Business managers, owners and senior executives really want to do the right thing! The goal is always to improve the business, to hire the best staff and to satisfy customers and partners. To do that, the business must build a foundation of business processes, policies, technology and software that will support goals and objectives and make it easier, more timely and more efficient to perform tasks and complete activities.
Wise business owners and managers are taking on the challenge of implementing data democracy, digital transformation (Dx), and Citizen Data Scientist initiatives. The reason is simple! These businesses understand the benefits and the advantages of providing augmented analytics access to business users, thereby improving fact-based, timely decisions and improving the planning and forecasting process. These initiatives also optimize resources and allow the business to do more with less – which is something every business needs!
Embedded BI and Augmented Analytics WILL Improve User Adoption, ROI and TCO!
Have you heard of Embedded BI? Do you know what it is? If not, your business is missing a lot. Embedded BI provides a lot of potential for your business to enable Citizen Data Scientist initiatives and data democratization, improve data literacy across the enterprise and make better business decisions.
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