Embedded Analytics Part 2: Own the Problem, Reap the Rewards
Blog: The Tibco Blog
The Software-as-a-Service model creates challenges for application makers, as short-term subscriptions give their customers flexibility to change providers every billing cycle. Software innovators are using embedded analytics to improve the stickiness of their applications and keep their users coming back again and again. Welcome to part 2 of our series on Jaspersoft’s brand new eGuide.
Technology users are more demanding than ever and the software industry is responding with new delivery models and better features. Software must be useful, easy to use, and up-to-date with the freshest features if it is to stand out from the competition and acquire (and retain) loyal customers.
The shift to a Software-as-a-Service (SaaS) model provides customers with the flexibility they need to pay for their software as and when they need it while saving on hardware costs. At the same time, SaaS compounds the market challenges for software providers, with customers paying for their usage of cloud software, providers can no longer rely on their long-term commitment. After all, customers are free to make a new buying decision every month or whenever they approach a new billing cycle.
The stakes have never been higher for application makers. The user experience (UX) of their program must be second to none, as research shows that 88% of online consumers are less likely to return to a website on which they’ve had a poor experience[1] and 45% of users will give up on a web or application process if it is too hard to complete[2]. It’s clear that poor UX has the potential to cause enormous problems for software providers, but what steps can product managers take to ensure their application passes the test?
Introducing embedded analytics into an application is one way to increase the usefulness, value, and user experience all in one go. Far from the days where application makers could offer ‘data dumps’ to meet users’ demands for more information, the best applications in today’s market embed analytics natively. This offers a range of new opportunities for program builders to increase the return on investment (ROI) for their customers, while creating a slicker, more user-friendly experience.
While embedded analytics offers the best UX, it comes with challenges of its own, such as greater demands on product design, resourcing, and code maintenance. In spite of the time and resources it requires, however, deciding to own the problem and reap the rewards is a commercially sensible move in a SaaS market expected to be worth $94 billion by 2019.
If you are a software engineer, product manager, or CTO who is interested in the value that embedded analytics can offer you and your customers—or even if you simply need more data to convince your team that embedded analytics is the way forward—take a look at the Jaspersoft eGuide. Embedded Analytics: A new era of competitive advantage for software makers describes embedded analytics, the market opportunity it presents, and the benefits it offers to application makers and their customers. It outlines the key arguments for taking an embedded analytics approach, including how it can enable you to charge more for your application as well as generate more value for your customer.
The ebook also features real-world examples of companies that have leveraged embedded analytics to improve the value and stickiness of their software, such as education technology provider Waggle, who improved the usefulness and UX of their software. Take a look at the Jaspersoft ebook today and see what difference embedded analytics could make for your application and your users.
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[1] Site speed: case studies, tips and tools for improving your conversion rate,’ Econsultancy, David Moth
[2] ‘Hidden cost of bad UX,’ Momentum Design Lab http://momentumdesignlab.com/hidden-cost-of-bad-ux/
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