An Aberdeen Group report shows how managed service providers (MSPs) and independent software vendors (ISVs) empower their customers with embedded analytics while enhancing their organizations’ performance.
A big knock against many business intelligence solutions is that they become “shelfware,” with the expensive application just sits on the shelf unused. Tailoring the analytics capabilities to meet the business needs of customers helps address this problem. Aberdeen found this capability as increasingly critical to success for software companies. Research in 2015 revealed 76 percent of those organizations surveyed placed great importance on this ability to customize analytical capabilities to specific customer needs. That had increased by 17 percent in just two years.
Another Aberdeen report showed direct benefits to embedding analytics, with best-in-class users seeing 78 percent of the workforce active in analytics. (Source: Embedded Analytics and the Hidden Opportunity for Enterprises, Aberdeen Group, April 2017).
Time is money. Aberdeen concludes, and our findings lead us to concur, that software companies who understand their customers, their infrastructures and their overall needs can deploy analytics solutions much faster. Aberdeen research puts that at roughly three times faster for leaders than all others.
Once the software companies deploy the embedded analytics solution, its ability to produce the results customers want gets tested. With better data comes more relevant insight for decision makers, which increases the opportunity for growth and efficiency gains. ROI comes more rapidly also. Most software companies want an embedded analytics solution to gain a competitive advantage and drive customer growth, and Aberdeen confirms that leaders get a major edge. These top performers experienced a customer growth rate five times greater than their peers.
To learn about how Izenda’s embedded analytical solution can help give your application a competitive advantage, request a trial or demo by our team.