In this blog, we debunk the myths of embedded analytics and business intelligence, and show how you could add this functionality to your SaaS application and see results in less than 30 days.
Myth 1: I need to find dedicated development resource
The first myth we need to debunk is that you will need dedicated development resource to prove the value of embedded analytics. Most embedded analytics solutions are no/low code and require minimal development work, so dedicated resource isn’t necessary! In fact, you can prove the value that embedding analytics will deliver for you very quickly without the need to defocus your development team from their core IP work.
Myth 2: My data needs to be in the right shape/I need a data warehouse
We hear this a lot. Many product owners worry that their data is not optimized for analytics and business intelligence. Concern, in some instances, comes from the wider BI market pushing the need for data lakes or data warehouse. Other times, some vendor solutions require you to move your data or store your data in a certain way. In reality, you don’t need to do anything with your data – you just need to have some.
You can get up and running very quickly; most dedicated embedded analytics vendors will support running queries against your production data that are performant and scalable. For a proof of concept/pilot, you can simply take a snapshot and build directly against that.
Myth 3: It’s going to take me 3-months to get up to speed
Some traditional business intelligence vendors have steep learning curves to get up to speed with their solutions. Embedded analytics and business intelligence vendors focus on ensuring their users are up to speed quickly and that their modern solutions are easy to use. This increases adoption as your end users don’t have to be tech experts to self-serve dashboards and reports.
Myth 4: It won’t fit with my security model/data governance strategy
As a SaaS vendor, you typically have a complex security model to protect your customer data and ensure compliance with industry regulations. Embedding analytics into your application shouldn’t mean that you compromise your security model or data governance strategy.
Panintelligence’s embedded analytics and business intelligence platform seamlessly integrates directly into your security model and never moves your data, ensuring complete data integrity and governance.
Myth 5: Analytics & BI vendors don’t understand SaaS
It’s true, many traditional business intelligence vendors tend to focus on enterprise companies and, therefore, their level of understanding and expertise about SaaS vendors can vary. However, there is a growing category of vendors who are 100% focused on delivering embedded analytics and BI into SaaS applications. These vendors come from SaaS backgrounds and understand the needs of these particular vendors and the importance of embedding analytics into the heart of these vendors’ applications.
Zero to hero in just 30 days
So, how do you go about quickly delivering analytics into your application? The Proof of Concept (PoC) process will show you exactly the value you will receive from embedded analytics and business intelligence and how you can turn your data into insights your customers love.
The process starts with outlining the measures of success and how, through leveraging your applications data, they can be achieved. However, as this process is delved into, using the data in different ways presents further opportunities for growth. Throughout the PoC process, data security, roles, users, API, authentication and more are firmly-established to ensure data security and confidence. To find more about embedded analytics and the PoC process, speak to our team here.