5 Time-Saving Benefits of Embedded Analytics
Businesses today create tools that collect and publish data about a wide range of activity in real time. Facebook can tell you how many people interacted with the post you shared, Amazon can send you a purchase confirmation with personalized recommendations about complementary products and Fitbit tracks up-to-the-step information about a customer’s physical activity in a day.
Consumer interaction with these tools has changed the culture around data. People expect access to accurate, real-time information whenever they need it. This expectation is carried into other parts of their daily lives, with demands for data increasing, along with a desire to filter or sort analytics in a number of new ways to answer new questions.
To satisfy this new breed of customer, product managers need to create an experience for customers that gives them the data they need in real time. Embedded analytics make it possible to meet that customer demand without burning through their limited development time and resources.
Here’s a quick look at some of the ways companies are using embedded analytics to improve product experience for their customers and give them more value for their time.
Improved customer experience
Companies that can put data directly into the hands of their customers are giving them an improved product experience. When data-savvy customers have questions about the product or their usage, they can answer those questions with the data that is available to them. Embedding data also makes it easy for customers to quantify the value for a product or service. The more robust and interactive the data provided, the easier it is to allow them to find value in that information. Better customer experience means better retention rates and ultimately, higher LTV.
Access to the freshest data
Once a report or chart is created and embedded, the data stays connected and refreshes as often as needed. Different customers need data from your company at unique intervals. Embedded analytics lets the customers proactively access the analytics they need on their own timeline with confidence that the information will be current.
Reduced customer support requests
If customers can answer their own questions with embedded analytics, they won’t need as much support from the company. This lightens the load on the support team and creates a healthy habit in that customer base of digging into analytics to handle questions. With the extra bandwidth, the support team can provide better care for existing requests or create documentation to proactively reduce future support tickets.
Interactive data visualizations
It’s natural that curious customers will analyze data in a way that prompts new questions. By clicking through responsive charts, they’ll be able to answer their own new questions instantly, without having to make follow-up requests to your team. Interactive embedded data allows anyone to filter the information in any way they’d like or drill down on specific data points to learn more. For data-hungry customers, embedded analytics satisfy their curiosity. Customers who are new to data analysis can move at their own speed, increasing data literacy at a pace that’s comfortable for them.
Data where the customer needs it
Embedded dashboards can be built straight into any tool that’s already a part of a customer’s experience. This way, they don’t have to learn a new login/password or navigate to a new site to see metrics. Instead, you can embed the relevant analytics directly inside of the sites they already access to enrich their current experience instead of giving them another new tool to learn.
To learn more about how product teams can use embedded analytics, download The Product Manager's Guide to Embedded Analytics.