Today businesses are generating mountains of data and not making any sense of data misses the opportunity of cracking the code to valuable insights and gaining a competitive edge. To stay ahead in the game and to relish operational efficiencies, integration with data-driven tools can help turn raw data into actionable insights and additionally help to stand out from the competition.
This is where Business Intelligence (BI) steps in!
It analyses business data and offers insights that help businesses make informed and sound decisions. Various BI tools such as Tableau, Qlik, Power BI, and Looker offer a wide range of features including interactive dashboards, and data visualization, making it easier for organizations to enhance decision-making processes.
Now imagine a scenario where you can get access to data insights through tools embedded in your existing software applications that you are already familiar with. Well, that’s possible with embedded BI solutions.
Embedded BI is the integration of reports, dashboards, and data visualization into the existing application. Integration of embedded BI tools can turn your application and software into a powerful platform for analyzing data.
Let’s witness some of the benefits of embedded BI and then let’s dig into its application or user cases-
- Embedded BI boosts the productivity of employees as they don’t need to switch between applications to collect and analyze the data. Thus, there is a faster time for insights.
- Boosts self-service BI and businesses don’t need to depend on data experts and can work independently and draw insights.
- Integration of BI into existing software lowers the resistance to adoption and thus such ease of use enhances the value of the core product or application.
- Integrating BI directly into existing applications reduces the need for separate BI infrastructure and tools. This consolidation lowers costs associated with software licenses, maintenance, and training.
Recognizing the benefits of embedded BI, now let’s move forward with its user cases-
Healthcare
Embedded BI into the healthcare industry can help multi-facility healthcare professionals to analyze patient data, track treatment outcomes, and thus accordingly optimize healthcare operations. For instance, predictive analytics in healthcare can assist in identifying patients who need treatment first and on an emergency basis as compared to those requiring routine care.
Retail and E-commerce
Embedding BI into the retail industry can help boost sales by analyzing customer behavior, monitoring sales performance, and raising personalized campaigns. All these can enhance the overall customer experience and can offer a retail business competitive advantage
Telecommunications
Telecommunication sectors deal with many data and integration of BI to draw insights is a necessity for the sector. Provided the increased competition, businesses need to offer the best plans and services to their customers. In such a scenario, Business Intelligence can provide valuable insights that can help in detecting customer pain points such as network issues, service interruptions, and churn rates. By analyzing customer feedback, usage patterns, and support queries, embedded BI can pinpoint areas needing improvement.
Financial Services
Financial Institutions and banks embed BI to monitor and detect transaction frauds in real-time, analyze customer spending patterns, customer acquisition costs, and many more. By getting such insights, financial institutions can personalize the right services to the right customers and strengthen their business relationships.
Final Words
BI is no longer an alien concept, it’s a powerful tool that gives enough power to businesses to drive intelligent insights. No matter what sector, embedded BI can revolutionize the way organizations operate by integrating advanced analytics directly into existing applications.
At Canopus Infosystems, we understand the transformative potential of embedded BI. By seamlessly incorporating BI into your existing systems, we help you unlock the full potential of your data, allowing you to make smarter decisions and stay ahead in the game. Let us assist you in leveraging embedded BI to drive your business success.
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