Embedded analytics sounds complicated, but it’s nothing more than Nike+ tracking your workout, or Fitbit telling you how many steps you took today. Or General Electric building embedded sensors and data viewing devices into a nuclear power plant.
Five years ago, though, analytics was an Excel spreadsheet from accounting, or a complicated application that corporations spent millions on and business analysts pulled data from with blood, sweat, and tears. We’ve already come a long way, but in just a few more years, a full 25 percent of analytics capabilities will be embedded within business applications, according to Jaspersoft, which powers 130,000 apps with embedded business intelligence features.
But we’re not there yet.
Even though analytics is already a $34 billion industry, only 25 percent of workers have access to BI tools — mostly due to costs that are still too high, and complexity, which is still too great.
More data, and the solution, in the infographic below: