Cranbury, NJ, Dec. 12, 2019 (GLOBE NEWSWIRE) -- The importance of embedded analytics business intelligence continues to grow and the current uses for embedded analytics have a common theme – making better decisions, a new Infragistics survey of 478 software developers, IT managers, and business decision makers found. Twenty-five percent of survey respondents reported that embedded analytics’ greatest usefulness for their end customers was to make better business decisions, followed by improving productivity (22%), and increasing sales/revenue (18%).
The top motivator for respondents to embed analytics in their apps is to increase customer satisfaction (36%), followed by the ability to make their app more visually appealing (23%), and gaining a competitive advantage (22%).
“Collecting data is relatively easy, yet interpreting that data is difficult.” says Casey McGuigan, Reveal Casey has a accountProduct Manager, Infragistics. “Embedded analytics, which converts raw data into business intelligence, presents organizations with tremendous opportunities. Our survey found that the embedded analytics market continues to grow and evolve, empowering its users to better assess and quickly act on relevant business data.”
The market for embedded analytics is expected to reach an estimated $1.3 billion in 20231.
While many existing app development teams use embedded reporting and data analytics, strong interest was expressed in still-maturing technologies such as predictive analytics (38%), machine learning at 25%, and data discovery at 24%.
The survey found that the technology is beginning to gain more widespread acceptance and adoption by software developers, 25% of whom have been using embedded analytics for 5+ years. An additional 30% have been using embedded analytics for less than five years and 23% plan to embed in the future. Less than a quarter (22%) of respondents have no plans to enter the explosively growing embedded analytics market.
Increased Interest in Buy vs Build
Almost two-thirds (63%) of respondents had built their own solution, while 36% used a third-party vendor. But in a noteworthy change in direction, more than half (53%) plan to use a third-party vendor moving forward while only 46% plan to build their own.
“The embedded analytics market is undergoing significant change as new competition has entered the market offering more complete embedded products that are easier to embed and easier for customers to use,” says McGuigan. “Also, customers don’t want to have to move data into a separate program for analysis or reporting; they want it in the same app.”
Other survey findings included:
Top motivators for embedding analytics into an application
- Increasing customer satisfaction (36%)
- Making their app data more visually appealing (23%)
- Gaining a competitive advantage (21%)
Current and planned uses for embedded analytics
- Reporting (70%)
- Data analytics (65%)
- Predictive analytics (38%)
- Machine learning (25%)
- Data discovery (24%)
Popular applications for embedded analytics
- ERP (29%)
- CRM (28%)
- Marketing automation (24%)
- Collaboration (24%)
- HR (24%)
- E-Commerce (24%)
- Advertising insights (8%)
Embedding an analytics product from a third-party considerations:
- Ease of use (34%)
- Predictable pricing (19%)
- Fast deployment in their app (15%)
- Solution that was built specifically for embedding (13%)
- Lower support burden and great cross-platform experience (9%)
“We are on the cusp of the embedded analytics revolution,” says McGuigan. “As its capabilities evolve and its benefits become more well-known, we expect to see more organizations using it to make business decisions, take action on insights, reach new markets, and drive revenue.”
To download a free copy of the survey report, visit Infragistics.
About Infragistics
Infragistics is a worldwide leader in providing tools and solutions to accelerate application design and development, provide insights, and foster collaboration within organizations. More than two million developers use Infragistics enterprise-ready UX and UI toolkits to rapidly prototype and build high-performing applications for the cloud, web, Windows, iOS and Android devices. Infragistics enterprise mobility solutions—Reveal and SharePlus—give business users the latest advancements in self-service business intelligence and collaboration software.
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Media Contact:
Beth Brody
908-295-0600
1 *Infragistics determined these numbers by extrapolating from Gartner’s projected overall Analytics and Business Intelligence market in 2022 of $27.5B
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