Embedded analytics and revenue intelligence upgrades traditional business intelligence by offering real-time data analytics and context to make the best sales decisions from a micro scale outward.
"As we continue flexing our digital workplace capabilities, opportunities to optimize client and consumer data, the prized currency for most large-scale enterprises, present themselves in the form of data visualization and context. Embedded analytics, and more specifically revenue intelligence, allows for instantaneous customer feedback giving marking, sales, and other teams acute buyer insight previously scattered across multiple silos limiting valuable contextual customer information," says Chuck George, Peergenics Managing Director.
Before getting into the features and solutions offered by embedded analytics and revenue intelligence, let’s get to the core of what it actually is.
What is embedded analytics/revenue intelligence and how does it differ from traditional business intelligence?
Embedded intelligence is a set of tools and capabilities applicable to multiple workflow applications and portals to show dynamic client data with context in order to provide the best path to revenue growth. These tools can apply to applications like CRMs, ERPs, or EHR/EMRs and to portals like intranets or extranets.
Where embedded analytics surpasses traditional business intelligence is its holistic, real-time data vision driven by AI that provides context lacking in traditional BI. Business intelligence collates siloed data by a combination of people, tech, and processes that all input information. This raw data is usually viewed by C-suite-level decision makers without much context from the individual data providers.
Embedded analytics on the other hand are AI tools implemented into the previously-mentioned applications and platforms to provide valuable data insight in the forms of dashboards and data visualizations, interactive reports, visual workflows, and predictive analytics which take forecasting the next level.
Embedded analytics and revenue intelligence data tells teams which sales leads are the hottest, which marketing campaigns are garnering the most engagement, and other vital insight into where growth is happening within your organization to maximize informed decision making.
For a simple analogy, think of traditional business analytics as a cooking recipe solely consisting of ingredients and their portions while embedded analytics offer the ingredients and their portions as well as the cooking times of every step involved needed to get to the final product. Instead of going off solely of “five tablespoons of butter,” you also know to let it simmer in a pan for 1.5 minutes before adding subsequent ingredients.
What are some components and capabilities offered by embedded analytics/revenue intelligence?
As stated above, embedded analytics and revenue intelligence tools gather pooled data and construct fluctuating data visualizations, tabular views, ad hoc querying, and more. These offerings allow for employees of all levels to visualize their own progress instantaneously instead of simply gathering and reporting raw stats to upper management who make decisions without the immediate customer-facing context.
Various levels of embedded analytics/revenue intelligence
The four stratified levels of analytic embedding within your enterprise’s platforms and systems are as listed below from least to most engaged:
- Sandalone analytics
- Detached analytics
- Inline analytics
- Fused analytics
A further explanation of these ascending implementation methods can be found here.
How Salesforce is leveraging AI technology to empower its own revenue intelligence offering
The global conglomerate sales CRM platform Salesforce offers one of the most progressive embedded analytics-powered revenue intelligence packages to its customers to generate revenue growth and build stronger sales pipelines with revenue, customer engagement, and other subsets of insightful market data.
Their analytics toolkit pools their other data-rich applications like Einstein Forecasting, Einstein Activity Capture, and others as well as flexibility to capture, organize, and display data from your company’s native data pools.
Peergenics is at your service as an award-winning certified Salesforce consulting partner to help your business evolve by maximizing your data insights.
Peergenics provides superior Salesforce consulting solutions for organizations across a myriad of markets and industries in need of the highest quality Salesforce implementation, training, support solutions assistance, and more. Our talented teams continuously monitor market trends and adapt to new tools like embedded analytics and revenue intelligence capabilities.