A new global survey on enterprise analytics use reveals that 94% of organizations believe data and analytics is important to their digital transformation and business growth. Yet despite this acknowledgement, 97% of real-time enterprise decisions are data-deprived.
According to MicroStrategy’s 2020 Global State of Enterprise Analytics Report, only 3% of employees can find the information they need quickly enough to make a data-driven business decision. For the majority (60%), it takes hours or days to get the information they need. The report goes on to note that when those who aren’t adept at analytics need to make a data-driven decision, 79% have to ask IT or a business analyst for help—only 7% are comfortable using a self-service analytics tool.
In 10 Enterprise Analytics Trends to Watch in 2020, however, Constellation Research VP and Principal Analyst Doug Henschen says that the next generation of embedded analytics might assist all employees in a big way.
"Embedded analytics will be a trend to watch in 2020, but not the type of embedding that many people associate with this term," notes Henschen. "The latest technologies are enabling developers to expose precise analytics—KPIs, micro charts, stats and alerts—within the applications where business people do their work and in the context of decision points.
"This style of concise embedding doesn't force users to toggle between separate analytical interfaces—such as full-page reports and dashboards—and the transactional and productivity applications where people do their work. The approach brings data-driven insight to more users because the analytics are right there in the context of transactions, and it's a better option for supporting specific business decisions," says the analyst.
Constellation observes that it’s the pioneers and fast followers who are leading the way on developing data-driven services and business models. They’re taking advantage of modern embedded analytics capabilities that are exposed through granular microservices. —Doug Henschen, Constellation Research
Henschen notes two business shifts are driving the changing nature of embedding, as well as broadening demand: (1) the push toward digital transformation, and (2) time pressure. With the need for real-time responses and decision making accelerating, employees no longer have time to leave the application they’re using to go to another tool and search for information. Next-generation technologies will help employees, customers, and the business overall by delivering faster—and better—answers.
Want to read more of Doug Henschen’s insights on this trend? Download 10 Enterprise Analytics Trends to Watch in 2020 to read his point of view, as well as those of analysts from IDC, Forrester, and Ventana Research. Want to see this next-generation of embedded analytics in action? Learn more about HyperIntelligence.