Maximizing return on Data with Embedded Data Analytics and BI

For any company or enterprise, reporting was traditionally an add-on afterthought with the software that was built to support transactional process automation. Data is seen as the key asset that every company wants to monetize in the new data economy. In an increasingly competitive world, knowledge is precious, and data is hugely valuable and getting the analytics strategy right, to give business and its customers a competitive edge, is critical for success. Every company wants to accelerate the ability to create revenue from existing assets like data, market share, domain expertise, people and operational excellence. When data was simple, producing insights was simple too, but as data has become complex, so too have the demands on data.  Business analysts and product teams need to refine the analysis and perform complex calculations and connect data from many sources in order to reveal the best insights that will move the needle. Product teams want to create value for their clients by enabling data-driven decision making in real time and not worry about data analytics development and deployment. Embedded Analytics makes it incredibly easy for product teams to build and scale custom analytic apps and seamlessly integrate them into other applications, opening up new revenue streams and providing a powerful competitive advantage for the business. The rise of embedded analytics (vs in house solutions ) is helping these teams keep pace with the latest in AI and ML for speed, scale and convenience which otherwise would require significant in-house investments .

Sisense an embedded analytics platform built from the grounds provides this agility and performance with scale. With Sisense, product teams can drastically reduce their time to market, lower the total cost of ownership (TCO), and develop an embedded analytics solution that works for any business and architecture needs. Sisense simplifies developing, managing, and scaling embedded analytics solution so client can focus on monetizing data. Sisense minimizes developer resources to manage complex interaction between application and the embedded analytics dashboards and can quickly create and scale tailor made Analytics apps that deliver insights at the point of decision making. Some of the key features that enable this include

1. Fully Extensible and Customizable SDK - Add or enhance functionality using powerful JavaScript APIs and Plugin Framework; bespoke actionable analytic apps with HTML, CSS, and Actions SDK with Sisense BloX.
2. Embed Everywhere - Embed Sisense within your application using iFrames or the SisenseJS library; deliver a white-labeled application on any device; or leverage IoT devices like Alexa, bots, or lightbulbs to go beyond traditional modes of consumption
3. Unparalleled Scalability - Sisense’s groundbreaking, proprietary In-Chip? technology and scalable, memory-optimized columnar database ensures that you can scale data and users without compromising performance.
4. Actionable AI in a low-code environment - out-of-the-box libraries with statistical models, NLP and Bots that deliver new insights from existing KPIs along with Custom ML models deployed by uploading Python scripts.

Sisense helps Enterprises and Business use their data to increase the value of the software platform they create with Embed BI and here are some Case Studies - 

A multidisciplinary electronic medical records technology provider servicing the elderly care market empowers clients by embedding Sisense in their core healthcare platform. The data that includes Practice management, EMR and other data sources, are merged into a consolidated view for the Healthcare service providers to generate insights and identify care paths that are successful leading care to improve actions and patient outcomes. With their data philosophy squarely focused on “patient intelligence” this company has allowed doctors and nurses to spend more time on patient care and minimize patient readmissions.

A leading global provider of Fleet management and insurance telematics services and solutions for asset management , recovery and workforce optimization uses Sisense for embedded Analytics. Its customer telematics web interface provides BI features, Operational reporting, integrated Analytics services which includes driver risk assessment ensuring the optimization of both fleet and human resources. Embedding Sisense has allowed them to augment and evolve their BI and Analytics capabilities while allowing them the focus on their core competencies.

A Global Fortune 500 Financial company has embedded Sisense to provide reporting and dash boarding capabilities with Self-service Financial portfolio and Investment Analytics for their global client base. IT teams now have more time to focus on business analysis rather than generating reports. This has increased the value proposition for their customers with self-service tracking of account , portfolio performance and metrics as the clients can define, analyse and drill down into their data and get insights any time they want.

There are of course many other internal use cases also on Sisense for e.g. a large agriculture and construction equipment firm has used Sisense to increase the data accuracy, velocity of reporting , data visibility and delivering data insights on a business friendly user interface to stakeholders and distribution partners much faster than their previous software thus driving the adoption rate and transforming the culture of the decision making process from a Reactive to Proactive mode across the organization. 

Sisense, with its embedded Analytics suite lets you focus on higher-value tasks like building tailor-made analytic apps and software instead of time building boilerplate code, complicated communication logic or other integration details. The latest features make it even easier for product teams to build and scale custom actionable analytic modules and integrate them seamlessly into other applications. Data should recommend actions, not just build KPIs and reports and some of the features in Sisense include -

Sisense Quest the latest add-on allows business to harness the power of data science by delivering new insights from data with a library of statistical models, such as What-If and Trend Analysis. In addition, one can deploy and operationalize their own machine learning models to users by uploading custom Python. To make insights actionable, actions or new ones can be tailored to create rich dynamic Actionable Analytics with Sisense Blox

Sisense Forecast an advanced AI-powered forecasting option that offers unique capabilities to derive new value from data without the need for data science expertise. With a single click, an ensemble of univariate forecast models run against the data. An AI algorithm selects the best model based on the type of data analysed. An additional variable can be added to the forecast to create a multivariate forecast.

Daemon Software is a Sisense APAC partner working on BI and Big Data solutions. Daemon is fully invested to help its clients look at Data from different angles and help them achieve a digital transformation that lets them monetize their existing data and create new revenue streams. Please get in touch at [email protected] or [email protected] to evaluate how your company can benefit with Embed Analytics and BI or you deal with any of these scenarios in your organization -

• You have a lot of data sources and deal with complex data or connect to edge devices for IOT.
• You need to embed an OEM BI layer on your platform for client data Analytics
• You have multiple systems and teams managing Analytics and reporting and need better tools with AI, ML and predictive capabilities
• You want to create dynamic, rich applications and widgets that can turn your dashboard into interactive business apps

See another related article - https://www.dhirubhai.net/pulse/monetizing-data-rajesh-kumar