Enterprise applications increasingly come with embedded analytics features such as data visualization tools that serve to differentiate products from each other while helping businesses hang on to customers while attracting new ones, according to a vendor study of the embedded analytics landscape.
The annual survey released this week by Logi Analytics found that embedded analytics—the integration of analytics capabilities within business applications—continues to make headway among application developers. The survey found that 85 percent of respondents said they have embedded analytics within their applications.
The Logi Analytics survey estimates that embedded analytics now accounts for more than half the value of business applications. “It’s increasingly difficult for applications to compete without offering analytics,” the company asserts.
As analytics are embedded within more applications, the survey found that developers are moving up the value chain to offer new features like data visualizations, interactive dashboard and predictive analytics.
“This trend shows no sign of slowing down,” the survey authors note. “We expect more innovative features will emerge and the gap will continue to widen between applications evolving their analytics and those sticking with the basics.”
Along with predictive analytics, survey respondents cited a range of future embedded analytics features. They included AI tools, the ability to “write back to the database,” natural language generation and the ability to launch new work flows. All are seen as ways of differentiating emerging applications from competitors.
Product differentiation, cited by 62 percent of respondents, was seen as a key attribute of embedded analytics. Seventy-one percent of those polled said the integration of analytics into software applications resulted in increased company revenues.
Embedded tools also are touted as promoting the steady shift toward self-service analytics that help users find their own new data sources, for example. That, in turn, frees developers to concentrate on core applications. While about half of survey respondents said the embrace of embedded analytics has reduced the number of “ad hoc requests” received by developers, 31 percent said they saw no change in the number of requests.
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