Published on : 12 November 20213 min reading time
Integrating embedded analytics into your enterprise software application can bring enormous benefits to your product. From increasing user engagement to providing new revenue channels to decreasing customer churn, integrating analytics gives you business opportunities. For many reasons, it really is a new approach to data monetisation.
Sustainable competitive advantage over your peers
If you don’t have modern analytics integrated into your application that provide actionable insights, you fall behind your competitors. Customers come to expect analytics on everything. More data is being generated than ever before and companies want to capitalise on the wealth of information contained in the software applications they buy through analytics.
By integrating the right modern analytics platform, you enable your end users to leverage new technologies to quickly access the heart of the data, the information. When you choose to integrate an innovation-driven analytics platform, such as the benchmark site toucantoco.com, you will always have the latest technological advances available to you and your customers. This gives you a sustainable advantage over your competitors.
Analytical experience for your customers and additional revenue streams
When you integrate a modern business intelligence platform, you are able to provide new features that will transform the way your customers use your application. For example, they can code their own capabilities into their dashboards or get instant, automated insights without the manual graft of data discovery. They can collaborate on data and share information on a governed platform. Modern integrated analytics also offers an enhanced user experience with an improved user interface and flexible design options.
Because of the tremendous value brought to your customers by modern embedded analytics, you will have the ability to add revenue streams and sell them. The analytics module itself could and should become an additional revenue stream. You can, for example, include dashboards and reports built into your application as standard and reserve additional automated information that your sales team can sell to customers.
The ability to get to market quickly
If you build your own analytics capabilities, you will inevitably encounter generation and deployment issues, setbacks and delays. The longer it takes to get to market, the longer it takes to generate revenue from analytics. But with the right embedded analytics partner, you can get to market quickly.
You will be in a business partnership with your analytics provider while you integrate their software into yours, so choose wisely. In addition, you’ll be shown how to market your application and prepare your sales team to sell the new benefits that come from integrating analytics into your application.