Software embedded analytics doubles in two years
Logi Analytics, a specialist in self-service analytics, says the value of embedded analytics has nearly doubled since 2013 – the median value of analytics relative to the overall product was reported at 43%, up from 35% and 22.5% in 2014 and 2013 respectively. It has released findings from its third annual “State of Embedded Analytics” report on how organizations embed business intelligence and analytics inside their software applications.
In addition to commercial Independent Software Vendors (ISVs) and Software as a Service (SaaS) providers that Logi has surveyed in years prior, this year Logi expanded the report to include non-commercial, IT-managed applications used by internal staff and partners. The research revealed that commercial applications lead in their adoption of embedded analytics, and integrate analytics deeper with their applications.
It found that the majority of applications now have embedded analytics – 65% of all application providers embed business intelligence and analytics within applications- and that end-users expect BI inside the applications they use every day – 82% of all application providers say that embedded analytics is important to their users.
Embedded analytics sees greater user adoption over traditional, non-embedded BI – Application providers say 40% of their app’s total user base leverages BI and analytics on a regular basis, it says. This is 10% higher than the ceiling for user adoption of traditional BI tools as reported by industry analysts. The market is set for growth - the majority of application providers (62%) plan to invest in embedded analytics in the next 12 months.
“All modern software applications today must deliver insights and analytics at the core,” said Alvin Wong, manager, product marketing, Logi Analytics. “We see the use of data transforming all products and services. Not only are all companies becoming software companies, all software applications are becoming analytic applications. As more companies adopt this point of view, we anticipate more compelling and intuitive business applications will come to market and more users will be able to make smarter business decisions.”
The 2015 State of Embedded Analytics report is based on an online survey of more than 500 business and technology professionals, conducted in February of this year. Respondents included C-level executives, Product Managers, Product Developers and Software Engineers at companies of all different sizes.