Analytics solutions have no doubt been desirable, common investments among businesses throughout the past several years, but one thing that has become clear is the technology remains in a state of flux, always progressing amid increased demand and competition. This should indicate that more robust and diverse trends in reporting analytics – both with regard to the ways the technology is used and what the solutions actually entail – are sure to emerge in the future.
Several key movements in analytics supply and demand give a relatively clear perspective on how the technology is progressing, such as the fact that more types of professionals want to be able to access and use the solutions. This means that providers have had to develop more intuitive tools that can be used by individuals who might not have a firm background in data science and general IT matters, and these options are already available in many situations.
Specialization is another major trend in reporting analytics and big data at large, as companies expect solutions to closely align with key objectives within their operations to ensure the highest possible returns on investment. In this sense, analytics and business intelligence solutions are becoming more targeted, with some focused upon streamlining document delivery and others being more directed toward human resources problems.
Demand might be shifting in favor of a new method of implementing analytics for this reason.
Datanami recently reported that a new survey from Logi Analytics of roughly 500 individuals revealed that embedded analytics might represent the next step in business intelligence's progression, and this is shaped by the incorporation of tools directly into apps. This is not necessarily a novel or futuristic ideal, but is one that makes sense given how commonly companies are beginning to embed various tools within applications to make each piece of software more powerful and efficient.
With respect to analytics, embedding can be a difficult venture, but software vendors and service providers will often give companies the option to take care of the implementation process. According to the news provider, embedded analytics use has already been estimated to be 10 percent higher than traditional options, and the survey revealed that nearly two-thirds of app vendors involved in the study plan to invest more in this advanced stage of intelligence tool use.
Interestingly, the source pointed out that Logi Analytics' assessment found that there are certain types of embedded analytics capabilities that stand alone when it comes to driving demand, and these include dashboard functionality, report automation and self-service analysis. Regardless of which process is being targeted by a new analytics solution, especially if it will be embedded, these types of functions and capabilities can be advantageous for the average business.
Potential uses in HR
If a business can effectively incorporate business intelligence and analytics functionality into HR business process management solutions, this would likely have a dramatically positive impact on the department at large. The same goes for other areas of business, but the HR example is especially strong because of the volume of repeatable functions involved and potentially valuable data generated.
First, leveraging a solution that streamlines general day-to-day management of HR onboarding and employee files can reduce errors and drive efficiency within the department. Next, incorporating an analytics tool will yield more long-term and broader performance improvement opportunities, as managers and others will get a better sense of where the department is operating optimally, and which areas need to be corrected over time.
At the end of the day, more integration of various solutions with analytics capabilities will drive the intelligence of businesses across the board.