Today, embedded analytics has moved from a “good to have” luxury to a “must have” necessity for solution providers. Analytics can be a key differentiator for data-driven businesses to stand out in a highly competitive marketplace, especially when companies are now facing a major challenge to retain customers and sustain revenue flow.
We had discussed earlier about the criteria to look out for in an embedded analytics solution. In this blog, we’ll talk about the four key benefits that businesses can derive from embedded analytics, plus some examples of just how successful this approach can be.
Increase in customer engagement and usage
With the rise of digitisation, there has been an explosion in business use of analytics. Though the number of users with access to self-service analytics tools has increased, the percentage of those who take full advantage of their capabilities is far less. Embedded analytics integrates BI & Analytics within the core business workflow that significantly increases the utility and adoption of the combined solution.
It happened for our customer, Peri CRM, who embedded Zoho Analytics—white labeled as Peri Analytics—into their CRM offering, and saw increased traction among their customers, who invariably had BI needs. To put it in actual numbers, one out of six of their customers started using Peri Analytics, and there was a 50% increase in customer engagement after Peri partnered with Zoho.
I took a detailed demo and I was sold on acquiring the solution right away because of two reasons: 1. A product company was talking to me like a service company 2. With my experience in fiddling with data, I was able to churn out amazing output on the very first day.
– Harsh Kohli
Founder, Peri CRM
Gain a competitive advantage
A key impact of embedded analytics is value addition that brings about a unique selling proposition (USP) to the existing product/solution offering. Infusing advanced analytics into users’ workflows makes it more comprehensive—users may no longer balk when encountering an obstacle in their workday. Instead, they’re provided with relevant insights that help to resolve their problem and move forward with ease.Such deep and contextual integration of insights, enables the solution provider to carve out a positive impression amongst its customers and build it as a niche advantage in the marketplace.
Catalyst Inc., a global supply chain management (SCM) consultancy needed a white label BI and analytics solution within their inventory management offering to provide performance insights. They decided to embed Zoho Analytics, which enabled the creation of a centralized tool to manage and compare the supply chain performance of their customers. It also offered ad-hoc self-service BI capabilities to access deep insights that delivered a competitive advantage to its customers.
We have been looking for two years, for a reporting tool that can sit on top of our replenishment system. Most of the stuff was built for really technical people. I decided to check if Zoho has something and found the brand-new Zoho Analytics. Within 15 minutes . we found the tool, imported the data and had everything looking the way we wanted.Also they got us a private white-labeled solution ready within one month. That was unbelievable.
– Dan Craddock
Drive revenue growth
As discussed earlier, with embedded analytics, the data generated out of business activities can be utilized better—the value it adds creates opportunities for additional revenue.
A common goal for business applications/suites is to upsell; encourage customers to buy added functionalities over time. By adding embedded analytics to the suite, the revenue for the provider increases, and there’s one more choice available to customers for tailoring their experience.
A leading US telecom vendor added revenue of $3-4 million by augmenting their network services offering with a Zoho Analytics white-label solution. The solution was a portal embedded with analytics & BI module that tracks and provides deep insights on their customers’ network performance in real time. Notably, this solution was also successfully applied to a government customer who used analytics both on-premises and in the cloud.
At the heart of every business decision is an inference made from data, visualized through reports and dashboards which are shared, presented, and discussed collaboratively. This decision-making experience can become much easier with embedded analytics, which eliminates toggling between applications and allows users to analyze, evaluate, and share insights with the same context. The result? Decision-making made faster, and done in real time.
Theometrics Consulting, a specialist in data analytics consulting, ended up with Zoho Analytics as their preferred white label analytics partner after trying other leading products in the market. They offer embedded BI solutions using Zoho Analytics. The advantage for their clients is that they can quickly get the right data within minutes. These self-service analytics capabilities also provide autonomy to their end users to do their own analysis, create reports, and make decisions.
Thanks to Zoho Analytics, we can combine all types of data to be able to manage them. Prior to the use of Zoho Analytics, we had worked with the main tools in the market, such as QlikView, IBM Cognos, Business Objects. However, we realised that before knowing Zoho Analytics, we had never found a tool that was so easy to use.
– Jonathan Theodose,
Director, Theometrics Consulting
We at Zoho provide deep embedded analytics solutions with white labelling, both for on-premises and cloud models. You can reach out to us to learn more about the solutions we offer.