1、Embedded Analytics Insights for 20241Embedded Analytics Insights for 2024 From Data Security to Generative AI,What Developers Care About Most For development teams in todays fast-paced technology market,the race for innovation is relentless.End-user expectations are higher than ever.Mid-market organ

2、izations with emerging analytics functions are seeking not only seamless functionality but also intuitive experiences that increase data accessibility and engagement.Larger organizations with more established,specific analysis requirements need flexible,scalable solutions that cater to their unique

3、needs and preferences.2Embedded Analytics Insights for 2024For both internal and external development teams,analytics is fast becoming a key differentiator in the market.For external development teams at independent software vendors(ISV),providing customers with intuitive,approachable analytics pres

4、ents an opportunity for competitive differentiation.For internal development teams,the increasing awareness of datas intrinsic value in guiding successful companies through turbulent market conditions has placed analytics at the forefront of strategic development.Organizations that create their own

5、applications embed analytics functions to enable more self-service,empower users with AI capabilities that reveal insights automatically,and offer customizable dashboards that display data in a visually appealing and accessible way.Development teams seeking to enhance their applications analytics fu

6、nctionality are faced with a tough decision of whether to build or buy.Build refers to the in-house creation and customization of analytics solutions tailored to a companys specific requirements,leveraging its resources and expertise.Conversely,buy involves procuring pre-built analytics tools or pla

7、tforms from third-party vendors,streamlining the integration process,and potentially accelerating time-to-market.To better understand the mindset of development teams and the factors behind the decision to build or buy analytics functionality,insightsoftware partnered with Hanover Research to survey

8、 over 350 information technology(IT),software development,and analytics professionals across the United States who participate in the decision-making process for analytics solutions.The survey included a mix of ISVs and corporate IT teams.To ensure strong comparison data,the technology decision-make

9、rs surveyed were evenly split between buyers and builders.This report will explore the differences between organizations who choose to build vs.those who choose to buy,and the strategic priorities influencing that decision.Analytics Solutions MethodsEmbedded Analytics Insights for 20243Build our own

10、 analytics solutions48%52%Buy analytics solutionsAnalytics Solutions End-UsersExternal ConsumersInternal Business UsersBuy(n=184)ABuild(n=172)B43%57%54%46%About the StudyEmbedded Analytics Insights for 20244While there are many similarities,the research highlighted some key deciding factors for both

11、 sides of the build vs buy coin.Build or Buy?Companies that choose to build feel its the only option to fit their highly customized needs.While those that choose to build feel that despite the large number of BI tools on the market,their unique requirements can only be met with a purpose-built solut

12、ion.Building custom analytics is one solution to that,but it is possible to fill even the most specific needs with out-of-the-box embedded analytics software.When searching for a solution,look for one that has features like customized dashboards,self-service,and the flexibility to obtain the analyti

13、cs your organization needs without having to build from the ground up.38%IT Sanctioned SoftwareRegulatory Compliance27%27%Ease of ImplementationReasons to Buy48%Meets Specific Organizational NeedsAccessibility33%31%CustomizabilityReasons to BuildEmbedded Analytics Insights for 20245Builder Demograph

14、ics and Decision-Making48%Meets Specific Organizational NeedsAccessibility33%31%CustomizabilityThe Top 3 Reasons These Development Teams Decided to Build Analytics Functionality Were:55%Increased Security and ComplianceCost to Build52%48%Additional Service for Customer SupportAmong This Group the Ke

15、y Reasons for Wanting to Buy Instead of Build Were:Organizations that build their own solutions(54%)are significantly more likely to have external consumers as their end-users than organizations that buy their solutions(43%).50%of builders took longer than 4 months to develop analytics functionality

16、 Most builders were happy with their choice,but 17%wouldve bought their analytics software given the choice again.Interestingly,of those teams regretting their decision to build analytics at smaller companies,maintenance costs was a key driver at 54%,compared to just 19%at larger companies.These res

17、ults show that development teams serving external users require the amount of flexibility that comes with building analytics to meet their unique business requirements.These teams will often have a higher level of technical competency and seek analytics they can readily shape to meet their users cus

18、tom needs.However,this freedom to customize analytics comes at a steep time cost,both upfront and further down the track when it comes to security concerns and ongoing maintenance.Embedded Analytics Insights for 20246Buyer Demographics and Decision-Making 38%IT Sanctioned SoftwareRegulatory Complian

19、ce27%27%Ease of ImplementationThe Top 3 Reasons These Development Teams Decided to Buy Analytics Functionality Were:64%Increased Security and ComplianceCustomization Options64%56%Third party Solution is Not Meeting RequirementsSimilar to the Builders,Most Buyers Were Happy with Their Decisions.Howev

20、er,20%Would Choose to Build,Given the Choice Again,for the Following Reasons:Organizations that buy their solutions(57%)are significantly more likely than organizations that build their solutions(46%)to have internal business users as their end-users.For buyers,self-service analytics(86%),sharing/co

21、llaboration(85%),and managed dashboards(85%)are of key importance.80%of respondents who chose to buy found customizable dashboards to be an important part of what influenced their decision.These results show that trust and compliance are key concerns for buyers of analytics software,likely seeking s

22、imple but robust solutions to ensure data security.Ease of implementation is an obvious reason to build,as this is the key benefit to buying analytics.Its interesting to note that Increased security and compliance was the top reason to regret the development approach across both builders and buyers.

23、We will explore this priority more later in the report.In an ideal world,teams who embed analytics can achieve the customizability and flexibility of building their own analytics with the speed of deployment and low maintenance you get when buying third-party software.Embedded Analytics Insights for

24、 20247To better understand organizational needs when implementing embedded analytics,we asked participants what analytics capabilities their customers and end users expect to be included in an application.Priorities are almost the same amongst builders and buyers,but we found that in general,buyers

25、have higher expectations for all features in their embedded analytics solution.Analytics Feature Preference Comparison:Build vs Buy Data Preparation ToolsCustomizable DashboardsInteractivity FeaturesSelf-Service AnalyticsError-Free ReportsSelf-Service Data DiscoverySharing/Collaboration FeaturesExte

26、nsibility and APIsManaged DashboardsAutomated SchedulerIntuitive UXDrag-N-Drop InterfaceAd-Hoc ReportingPixel-Perfect ReportsCapabilities Consumers/Users Expect to Be Included44%41%40%37%37%36%36%35%35%31%29%29%26%20%OverallBuyBuild49%43%45%41%43%42%41%36%41%33%37%33%28%20%38%38%34%33%30%30%31%34%28

27、%28%20%24%24%20%Embedded Analytics Insights for 20248Why is this?For an out-of-the-box solution,developers are likely to expect these capabilities to be built-in for the money they spend.Builders are more likely to choose to build to address specific needs,so its possible they only need or prioritiz

28、e one or a small amount of these features.However,buyers expect more of a one-stop shop.Data Preparation and Customization 44%Data Preparation ToolsCustomizable Dashboards41%40%Interactivity FeaturesTop Capabilities All Users Expect to Be Included in Their Embedded Analytics solutions Are:What is it

29、 about todays market that makes these the most common needs across all analytics users,regardless of whether they build or buy?A lack of data preparation tools can limit an organizations ability to report,serving as a barrier to success.Even the best tools lack basic customization features,like the

30、ability to set colors or create more advanced charts.Customizable dashboards empower organizations to easily create easy-to-access dashboards that they can tailor to their own specifications,both in terms of design and the data they display.And demand is growing for greater interactivity.Organizatio

31、ns are looking for the ability to drill down on detail to get more out of embedded analytics features.Theres a considerable disparity between what builders and buyers expect to be included in their embedded analytics solution.13%More Error-Free ReportsAmong the Top Five Capabilities,Buyers Prefer:11

32、%11%8%5%More Data Preparation ToolsMore Interactivity FeaturesMore Self-Service AnalyticsCustomizable DashboardsFurthermore,builders expect 17%less intuitive UI features and 12%self-service data discovery.This indicates that ease of use for non-technical users is not a priority for development teams

33、 building their own analytics to meet complex,custom business requirements.However,approachability is key for organizations that choose to buy an intuitive solution to drive adoption and engagement.Embedded Analytics Insights for 20249Customizable dashboards offer organizations the ability to presen

34、t data in a way thats interactive,can be adjusted to suit your needs,and include company branding.With a customized dashboard,your teams can present leadership and stakeholders with pertinent information along with a potentially impressive look and feel.For three-quarters(71%)of the developers we su

35、rveyed,40%or more of their customers and end users customize their own dashboards and reports.Customizable dashboards and self-service capabilities reduce costs for development teams because they free up developers from constantly needing to be on hand to churn out new custom reports for customers.E

36、ye-Opening,but Time-Consuming Analytics Independent software vendors(30%)are significantly more likely than other organizations(20%)to have customizable dashboards as their most in-demand missing feature.Embedded analytics streamlines workflows,enables users to visualize their data,and helps organiz

37、ations gain greater insights into the way their organization operates,but maintaining it takes a significant amount of time.And this doesnt stop after embedded analytics capabilities have been implemented.In fact,custom-built embedded analytics require regular upkeep to fulfill customer requests.For

38、 three-quarters(71%)of the developers we surveyed,40%or more of their customers and end users customize their own dashboards and reports.This leaves only half of developers time to dedicate to other value-added tasks.When a significant portion of IT teams are tasked with supporting analytics on top

39、of maintaining their organizations critical infrastructure and fixing technical problems,it keeps IT teams in maintenance mode.This leaves little time for anything else.Based on this data,buyers dedicate slightly less of their resources to analytics compared to those who decided to build.The effort

40、it takes to build up the skills development teams need to maintain analytics is time-consuming,especially when working under the stress of skills shortages.Of the organizations we surveyed,addressing embedded analytics challenges can take nearly an entire work week.Organizations spend 30 hours or mo

41、re per week addressing building customer-specific content(33%),performance issues(25%),and data inconsistencies(25%).This can be incredibly costly for businesses.Organizations spend$115,856 per developer every year to tackle these common concerns.With three-quarters of the week and over$115,000 per

42、year spent on supporting analytics,organizations would do well to consider the time,money,and other valuable resources saved investing in a tool that enables users to more efficiently investigate data and customize it to address your specific business needs.10For example,software development teams r

43、eceive 6-20 analytics requests every month.In addition,nearly half(45%)of organizations devote 40%-59%of their software development budget to building and supporting analytics.Embedded Analytics Insights for 202468%72%Among buyers,68%have 6-15 developers dedicated to supporting analytics Among build

44、ers,72%have 6-15 developers dedicated to supporting analytics Embedded Analytics Insights for 202411What factors are driving this level of spending on analytics?Pressures from an Uncertain Market Dynamic,intuitive,and accurate reporting is especially important during times when market clarity is low

45、.Recently,many organizations around the world have felt the sting of skills shortages.The result is increased pressure on developers.Why Privacy and Security Matter This year,developers top concern is maintaining data privacy and security,head and shoulders above other market factors.Why is this?Not

46、 only is it important to remain compliant with laws like GDPR,the California Consumer Privacy Act(CCPA),and the U.S.Securities and Exchange Commissions new rules for cybersecurity incident disclosure,but it also protects organizations from hefty fines and reputational damage.Ensuring security measur

47、es are in place is an important way to protect valuable information.68%Data Privacy ConcernsResponses Show Which Market Factors are Placing the Most Pressure on Development Teams:58%53%49%46%Future DemandCloud MigrationRecession and Budgetary CutsSkills ShortagesAbout half of respondents found skill

48、s shortages to be a significant challenge 46%of organizations reported being under high or very high pressure from lack of talent or technical knowledge.68%Investing in More Technology Tools/SolutionsIncreasing the Skills of Existing Employees63%57%Automating and Optimizing ProcessesUnder Pressure t

49、o Do More with Less,Organizations are Already Taking Action to Alleviate Strain on Developers By:64%of respondents in our survey say data privacy is a top concern,the number one market pressure IT teams face.Embedded Analytics Insights for 202412 IT decision-makers are aware that information is just

50、 as vital a commodity as currency.In the United States alone,nearly half a billion records were stolen last year.In 2023,it took nearly 11 months on average to identify and contain data breaches from stolen or compromised credentials.After each data breach is contained,it takes another 10 months to

51、resolve them,nearly two years from discovery to resolution.Its clear that end users,customers,patients,and others want to keep their sensitive and personally identifiable information(PII)private,and the survey shows that this is also of utmost concern for IT decision-makers.Organizations have a resp

52、onsibility to protect the security of that informationnot doing so is a costly mistake.According to the most recent IBM Cost of a Data Breach Report,the average cost of a data breach for global organizations is at an all-time high at$4.45 million.The same report also states that only 51%of organizat

53、ions plan on increasing security investments to protect from further data breaches.This can leave them vulnerable to risks such as cybercriminals,ransomware,and insider threatsall from failing to implement simple measures to protect the privacy of sensitive data.To alleviate data privacy and securit

54、y concerns,seek out embedded analytics solutions with robust information security features baked in.Embedded Analytics Insights for 202413Users expect a vision of the future from their analytics software.Developers are aware of this and have turned their focus to advanced analytics features like pre

55、dictive and generative artificial intelligence(AI).AI,machine learning,and generative AI are all buzzwords across industries worldwidebut how far along are IT professionals when it comes to the emerging technology?Where predictive analytics was once a nice-to-have,now its an expectation.Development

56、teams need this functionality to stay even with the competition.AI is the next step down this path,offering a more approachable way for non-technical users to gain this forward-facing view.A Far-Sighted Vision of the Future Predictive Analytics and AI 84%Generative AIFive Years from Now,Organization

57、s Believe These Trends Will Be the Most Important:83%81%78%Innovative Data VisualizationsPredictive AnalyticsPersonalized InsightsWhen asked what the most important analytics trend of the next five years is,the overwhelming majority of respondents(84%)said generative AI.Generative AI refers to techn

58、ology that can create new content,for example images or writing.But as vital as developers say generative AI is,organizations are just beginning to research and implement it.According to a recent study by Gartner,only 10-20%of IT and customer-facing teams have adopted generative AIand thats far more

59、 than their peers in other teams,like finance at only 1%.38%Customer Experience/RetentionIn Another Recent Gartner Poll of More than 2,500 Executives,Respondents Revealed Their Primary Focuses of Using Generative AI Are:26%17%7%Revenue GrowthCost OptimizationBusiness Continuity Customer appetite for

60、 AI-driven capabilities is high,but it can clash with data security priorities.Like a person,the machine learning aspect of AI mimics human behavior by learning from publicly available information,then using that knowledge to make decisions.The main differentiator is that machine learning can ingest

61、 large swaths of information and process it in a short time,making AI a lucrative solution for organizations to pursue.AI can aid with customer retention by streamlining processes,generating personalized recommendations,and creating a more intuitive and efficient user experience.By leveraging these

62、technologies,your organization can build a stronger relationship with your customer base,increase user satisfaction,and be better poised to retain customers.However,AI also comes with its share of risks,including cybersecurity threats and fraud.This year,when data security is a high priority for dev

63、elopers,how do you help mitigate threats from generative AI?Development teams can protect organizations against security risks by investing in proven analytics solutions that they trust to integrate AI while securely handling sensitive data.Embedded Analytics Insights for 202414Embedded Analytics In

64、sights for 202415With nearly three quarters of developers(70%)dedicated to supporting analytics between both builders and buyers,it takes a hefty amount of their teams resources.Builders choose to create and customize their embedded analytics from scratch to suit their organizations unique needs,but

65、 it is possible to fulfill those requirements right out of the box.Logi Symphony is a powerful embedded business intelligence and analytics software suite that empowers independent software vendors and application teams to embed analytical capabilities and data visualizations into your SaaS applicat

66、ions.Logi Symphony offers the best of both worldsthe customization you normally only would get with building combined with the rich functionality and low maintenance you expect from a third-party solution.Logi Symphony provides developers with the capabilities they seek in a comprehensive embedded a

67、nalytics solution,from data preparation to customizable dashboards,with customization that satisfies builders specific needs.Logi Symphony is:Built to be embedded,made to be implemented easily with the flexibility to fuse analytics components with your app,rather than sticking a dashboard in an ifra

68、me.A complete embedded analytics solution,that helps your organization comply with an ever-shifting global regulatory environment.A cut above standard interactive reports,providing managed dashboards,pixel-perfect reports,and visual data discovery to meet any analytical need.Analytics You Can Trust

69、Embedded Analytics Insights for 202416Customization and Flexibility By seamlessly integrating analytics,Logi Symphony allows you to meet business demand and answer important questions with tailored interactivity all while meeting regulatory requirements.Easily embed analytics into your applications

70、to foster growth and drive your business through self-service analytics.And with customizable dashboards,you can leverage analytics with your organizations branding to deliver detailed insights with a beautiful layout.With Logi Symphony,future-proof your analytics investment with a modern UI thats u

71、ser-friendly,easy-to-use,and scalable.For the security-minded,Logi Symphony protects sensitive data by including single sign-on and federated authentication while including data security with row-level security.And for the majority of people concerned with cloud migration(53%),Logi Symphony can help

72、 by:Deploying anywhere(on-prem,hybrid,and cloud)to meet you where your applications live.Bringing scalability with containerized deployment and multi-tenancy Saas-style user management.Unburdening data teams with lightweight ETL and in-memory data storage for better data processing.Providing flexibi

73、lity and customization to meet the needs of any organization,regardless of size or complexity.Security and Privacy Embedded Analytics Insights for 202417Intuitive UI In order for an embedded analytics platform to be successful,it should be easy-to-use.Logi Symphony provides a complete embedded analy

74、tics solution thats intuitive for any user,even if they dont have technical knowledge.On top of being easy-to-use,Logi Symphony can easily meet any standard use case,but can also deliver on even the most complex analytics requests.Data Prep Functionality Logi Symphony offers a patented,in-memory dat

75、abase engine to allow for extremely fast retrieval of data when warehousing.Logi Symphony features:Extensive support of popular RDBMS,OLAP,flat files,Big Data,and web services Proprietary in-memory data engine SQL/PostgreSQL warehousing Data build scheduling Data quality,data profiling,data parsing,

76、data matching and data enrichment If everything included out of the box doesnt give you the connectivity you need,our sister application,Simba,who wrote the book on data connectivity,can be included with Logi Symphony.Predictive analytics has become an expectation across organizations.Logi Symphony

77、offers data enrichment through AI integration,as well as predictive analytics by augmenting data with built-in,single click formula support for predictive forecasting and clustering.Our ambition with AI extends beyond just fulfilling a requirement;we aim to deliver true value in terms of usefulness,

78、scalability,security,and in helping customers minimize AI-related risks.With Logi Symphony,you can also plug into existing python libraries to allow for custom predictive capabilities and sentiment analysis.With 30 hours spent each week and$115,856 spent per developer every year,embedded analytics i

79、s a major investment.With the analytics workload only increasing thanks to the proliferation of generative AI,migration to the cloud,and the need to keep sensitive data safe,its vital to choose embedded analytics that will protect information security while allowing your organization to continue to

80、grow at the speed of technological change.Predictive Analytics Embedded Analytics Insights for 202418US+1 919 872 7800 UK+44(0)845 467 4448 AU+61 2 8985 7777 2024 insightsoftware.All Rights Reserved.About insightsoftwareinsightsoftware is a global provider of comprehensive solutions for the Office o

81、f the CFO.We believe an actionable business strategy begins and ends with accessible financial data.With solutions across financial planning and analysis(FP&A),accounting,and operations,we transform how teams operate,empowering leaders to make timely and informed decisions.With data at the heart of everything we do,insightsoftware enables automated processes,delivers trusted insights,boosts predictability,and increases productivity.Learn more at .