Delhi 99530 vip 56974 Genuine Escort Service Call Girls in Kishangarh
Monetizing Analytics Features: Why Data Visualizations Will Never Be Enough
1. MONETIZING ANALYTICS FEATURES:
Why Data Visualizations
Will Never Be Enough
Go beyond basic embedded dashboards to differentiate your
application and maximize the value of embedded analytics.
2. Data Visualizations Have Gone From Rare to Ubiquitous 1
If DataViz Is Old News, What’s the Future of Analytics? 2
It Starts with Better Experiences: Embed More than Visualizations 3
Which Sophisticated Capabilities Will Carry Your Application Into the Future 4
Achieving Analytics Maturity: Build, Buy, or Both 6
Future Trends: What’s the Next Differentiator? 8
Conclusion 9
Table of Contents
3. 1
Data
Visualizations
Have Gone
From Rare to
Ubiquitous
Five years ago, data visualizations were a powerful way to differentiate a software
application. Companies like Tableau (which raised over $250 million when it had its IPO in
2013) demonstrated an unmet need in the market for visually stunning dashboards. In turn,
end users were thrilled with the bells and whistles of charts, graphs, and dashboards.
With these capabilities came revenue: Five years ago, embedding even basic visualizations
was often enough for product teams to charge more for their applications and set them
apart from competitors.
Today, though, free visualizations seem to be everywhere.
Two trends in particular are forcing application providers to
rethink how they offer analytics in their products
› Data visualizations are no longer driving revenue: Everyone from Google to
Amazon now provides low-cost or no-cost visualization tools that drive down the
perceived value of data visualizations. Users are coming to expect sophisticated
analytics capabilities at little or no cost.
› End users expect more from analytic applications: Data visualizations are not
only everywhere, they’re better than ever. Data insights are frictionless, integrated
into everything from daily driving performance (Progressive, State Farm) to home
energy usage (Nest, Belkin). As rich, data-driven user experiences are increasingly
intertwined with our daily lives, end users are demanding new standards for how
they interact with their business data.
When visualizations alone aren’t enough to set an application apart, is there still a way for
product teams to monetize embedded analytics? Yes—but basic dashboards won’t be
enough. Read on for new ways to monetize your embedded analytics offerings.
4. 2
Ten years ago, standalone analytics tools were the epitome of capabilities. Today, the most advanced
capabilities are embedded self-service with features like workflow and write-back—and more features
and functions are being added every year. In the future, new levels may incorporate emerging capabilities
like smarter data preparation, predictive and prescriptive analytics, and even artificial intelligence. And as
these innovative features become more commonplace, they’ll earn placement on this chart—and today’s
capabilities will be labeled “basic.”
Get a Framework for Modern Analytics Capabilities
Like every other feature in your application, the world of embedded analytics is not static. The
outer bounds of capabilities are constantly evolving. At the same time, older capabilities like data
visualizations—which used to feel modern and innovative—have become commoditized.
UNIQENESSOFIMPLEMENTATION
(doingsomethingtotallyoriginal
BASIC CAPABILITIES:
Dashboards, Data
Connection,
Visualizations
ENHANCING
THE BASICS:
Single Sign-On,
Security Integration
STARTING TO
DIFFERENTIATE:
Embedded in
Applications, User
Interface Integration,
White-Labeling
ADVANCED
CAPABILITIES:
Workflow Integration,
Write-Back to Database,
Users Stay in the
Application
FUTURE-PROOF
FEATURES:
Embedded Self-
Service, Seamless User
Experience
Basic requirements are no longer enough
to set your application apart.
More advanced requirements are enough
to differentiate you for now — especially if
you implement them in a unique way.
As time goes on, the capabilities that were once revolutionary
will be commoditized and no longer enough to differentiate
your applicaiton or satisfy customers.
Modern,
sophisticated
capabilities
will set your
application
apart — even if
you implement
them in a way that
everyone else is
doing. They’re
advanced enough
to keep you
competitive for
years to come.
The Shifting Requirements of Analytics
If DataViz
Is Old News,
What’s the
Future of
Analytics?
5. 3
Unlike traditional business intelligence (BI) tools, which require users to open a separate application
for analysis, embedded analytics puts data in context of the applications users already love. By
embedding analytics so deeply within your application that it all but disappears, you create a
fluid user experience and encourage users to stay in the application.
Deeply embedding analytics has three key benefits
Satisfy unmet user demand
The State of Analytics Adoption Report found that demand for analytics is expanding
beyond what standalone analytics tools can provide. Eighty-four percent of business
users say they want access to analytics within the applications they’re already using.
This comes as no surprise, since users are primed by their consumer experiences.
As more users have relevant information at their fingertips to book flights, purchase
consumer goods, and shop for houses, they bring similar expectations to their
workplace—and specifically to their applications.
Increase user adoption and engagement
Users are not just demanding embedded analytics, they are adopting it at higher rates
than traditional standalone BI. The same survey found that users find traditional BI
tools difficult to use. They don’t like switching from their usual applications to log into a
separate tool, and they don’t have easy access to analytics tools within their workflows.
That’s one reason why embedded analytics sees such a high adoption rate—60
percent of end users who have access to embedded analytics actually leverage
those tools on a regular basis. That’s compared to a 21 percent adoption rate of
standalone self-service analytics tools.
What’s more, 82 percent say time spent in the application increased after they added
or improved their embedded analytics offerings.
Charge more for a better user experience
In the recent State of Embedded Analytics Report, more than 78 percent of ISVs with a
paid commercial application say they charge more for their analytics offerings. And 98
percent say embedded analytics contributes to revenue growth. For companies that
don’t charge for analytics, it’s often because their competition has a stronghold and
they need analytics either to keep up or catch up.
It Starts
With Better
Experiences:
Embed
More Than
Visualizations
90%
will interact with analytics at
least once per day but only 15
percent will realize it.
Anne Moxie, analyst for Nucleus Research
Augmenting Intelligence with Embedded Analytics
3
2
1
TWEET THIS
In the next seven years,
of business
users
6. GET THE FULL EBOOK
WANT TO CONTINUE READING?
MONETIZING ANALYTICS
FEATURES: WHY DATA
VISUALIZATIONS WILL
NEVER BE ENOUGH