Growth Areas in the Analytics Market

Porter Thorndike
May 16, 2019

The greatest area of growth in our market and among our customers is embedded business intelligence (BI). This goes far beyond embedding simple reports or charts, although that also delivers value. We see our customers delivering contextual, prescriptive information in the applications that people are already using to add value to that application and increase the adoption rate of analytics.

One example is a solution to customer churn. Reaching out to the right customer at the right time with the right conversation is a general challenge customers from many industries are trying to solve. This requires several key components of our platform:

  • Predictive analytics: Build a predictive model that scores current customers as churn risks
  • Prescriptive analytics: What actions were taken, based on historical data, to successfully retain customers at risk?
  • Data visualization: Provide a supporting visualization that helps me understand why they are scored as churn risks
  • Natural language generation: An automatically generated narrative describes the key information in the visualization
  • Embedded BI: Embed the visualization, narrative, and prescription in the application of the person who would take action. It’s important to note that this is a common use case but this methodology is being applied to a variety of additional use cases within our retail customer base. The concept of using advanced analytics to predict and then prescribe key business outcomes with supporting narration and visualization is the methodology that we see gaining great traction

A variation of what we see above are data stories. Data stories are produced by analysts who work in the business and have the best understanding of the business's data but have the technical acumen to use self-service data prep and visualization tools. Many of our customers are using our tools here to combine public, third-party, or unstructured data sets with certified data assets, to create data flows for analytical purposes.

This is typically for downstream visualization and discovery, where the analyst mines the data for insights that impact the business in a more agile fashion than IT-centric projects. The discoveries are communicated similarly as the process above, with a supporting visual and narrative.

Dashboard

 

Managing the business in a more alert, event-driven, and collaborative fashion. We see many of our customers designing landing pages in their portal experience who seek to have important information find the recipient, prescribe the user experience, and provide an experience where key business metrics and information are discussed right in the place that the content is consumed. The landing pages often provide an evolving combination of alerts, key business metrics, news, or event information with a modern chat/collaboration platform.

 

Dashboard

 

Data-driven imagery. Many of our customers are using our ability to overlay color or information on images, such as store layouts, warehouse layouts, product images, etc. One of our customers, Lipari Foods, used this framework to create a fully interactive visual warehouse. It helps them understand where inefficiencies exist in terms of placement of heavy items, location of items to loading docks, cross contamination, etc.

 

Interactive visual

 

Communication of key information as Infographics. Infographics combine visualization with storytelling, delivered in a friendly, compelling format. Many of our customers are delivering data-driven Infographics to their customers in the form of a statement. We are also seeing interest from our retail customers to deliver key store information (such as benchmarks, comparison to sibling stores, performance attainment) to store management.

 

Infographic

 

Our Customers Enjoy Great Success with Embedded BI and Analytics