Create Success with Analytics: The Business Opportunity of Embedded Analytics - New Findings from 500+ Application Teams
- 1. 1 Logi Analytics Confidential & Proprietary The Business Opportunity for Embedded Analytics: New Findings from 500+ Application Teams Webinar will begin: 11:00 am, PDT TO USE YOUR COMPUTER'S AUDIO: When the webinar begins, you will be connected to audio using your computer's microphone and speakers (VoIP).A headset is recommended. TO USE YOUR TELEPHONE: Select "Use Telephone" United States: +1 (415) 655-0052 Access Code: 863-907-864 Audio PIN: Shown after joining the webinar Creating success fromAnalytics series, Part 4
- 2. Click to edit Master title style 2 Speakers Hannah Flynn Hannah went to The University of Chicago, where she majored in Environmental Studies with a concentration in Economics and Policy. She now works with Aggregage on social media strategy and webinar production on sites such as Product Management Today,B2B Marketing Zone, and Customer Experience Update. Josh Martin Director of Product Marketing at Logi Analytics. He spent most of his career as an industry analyst helping the world’s largest consumer brands navigate emerging technology market transitions. His experience ensures the State of Embedded Analytics represents industry trends.
- 3. Click to edit Master title styleWho is Logi? Logi empowers companies to embed analytics into the fabric of their organizations and products – enabling anyone to analyze data, share insights, and make informed decisions. With Logi, product teams create analytic applications that are purpose-built to users’ unique roles and skills and infused within existing workflows and security models. More than 1,800 customers worldwide rely on Logi Analytics. The company is headquartered in McLean, Virginia. Learn more at LogiAnalytics.com and join the conversation @LogiAnalytics.
- 4. 3 Click on the Questions panel to interact with the presenters www.productmanagementtoday.com/webinar-series/create-success-with-analytics www.projectmanagementupdate.com/webinar-series/create-success-with-analytics www.businessinnovationbrief.com/webinar-series/create-success-with-analytics
- 5. Click to edit Master title style 5 Agenda 1. The State of Embedded Analytics 2. The Features Driving Results 3. The Best Development Approach 4. Q&A
- 6. Click to edit Master title styleMethodology 6th Consecutive Year 500 product managers, developers and executives Primarily from North America & Europe Less than 10% were Logi Customers
- 7. Click to edit Master title styleTop 3 Trends Trend 1: Application teams see substantial business benefits from embedded analytics Trend 2: Leading companies are evolving analytics beyond basic features Trend 3: Building analytics without help is no longer an option
- 8. Click to edit Master title style3 Key Questions to Consider 1. How am I upselling my customers today? 2. What are customers most asking for and is it on my roadmap? 3. How much time am I spending on non-core IP related activities?
- 9. Logi Analytics Confidential & Proprietary Click to edit Master title style 9 The Benefits of Embedding Analytics
- 10. Click to edit Master title styleBenefit 1. Happier End Users 91% 93% 94%Increase end-user adoption Improve the user experience Boost customer satisfaction
- 11. Click to edit Master title styleBenefit 2. Less Burden on Developers
- 12. Click to edit Master title styleWhy is burdening developers a problem? 28% 26% People Resources Required for Maintenance Over Time Monetary Costs of Maintenance Over Time More than Expected
- 13. Click to edit Master title styleBenefit 3. Boost Application Value & Revenue 50%application value attributed to embedded analytics
- 14. Logi Analytics Confidential & Proprietary Click to edit Master title style 14 Realities to know before you embed analytics…
- 15. Logi Analytics Confidential & Proprietary Click to edit Master title style More than 85% of respondents embed analytics Reality 1. Basic analytics won’t be enough to differentiate your offering Yes No
- 16. Click to edit Master title style 0% 10% 20% 30% 40% 50% 60% 70% 80% 90% 100% Currently Offered Plan to Offer Reality 2. You will need an aggressive roadmap
- 17. 17 Logi Analytics Confidential & Proprietary 0% 5% 10% 15% 20% 25% 30% 35% 40% 45% 50% <1 month 1-3 months 4-6 months 7-12 months More than a year 2017 2018 Reality 3. You won’t deploy analytics in days or weeks
- 18. Logi Analytics Confidential & Proprietary Click to edit Master title style 70% of companies changed their approach to embedding during the course of their project Reality 4. You’ll need to re-evaluate your approach regularly
- 19. 19 Logi Analytics Confidential & Proprietary Reality 5. The pace of growth is only accelerating
- 20. Logi Analytics Confidential & Proprietary Click to edit Master title style 20 The Features Driving Business Benefits
- 21. Click to edit Master title styleWhat are Sophisticated Capabilities? Natural Language Generation Advanced or Predictive Analytics Artificial Intelligence Ability to write back to the database Ability to kick off a new workflow
- 22. Click to edit Master title styleSophisticated Capabilities Drive MORE Business Benefit 0% 10% 20% 30% 40% 50% 60% 70% 80% Increase overall revenue Differentiate your product Improve your win rate Reduce Customer Churn "I strongly agree embedded analytics helps our company..." Applications with Sophisticated Capabilities Applications with Basic Capabilities
- 23. Logi Analytics Confidential & Proprietary Click to edit Master title style 23 The Development Approach Driving Sophisticated Features
- 24. Click to edit Master title styleBuilding or bolting-on results in less sophisticated analytics 0% 10% 20% 30% 40% 50% 60% 70% 80% 90% Ability to kick off a workflow Ability to write- back to the database Advanced or Predictive AI Connections to additional data sources Data Prep Data Visualizations Embedded self-service analysis Interactive dashboards and reports Mobile Responsive NLG Real-time analytics powered by instant data connections Tailored experiences based on user rights and roles Companies with a combined approach currently offer more robust functionality than homegrown solutions Built our own Buy Combined Approach
- 25. Click to edit Master title style…and worse business benefits 0% 10% 20% 30% 40% 50% 60% 70% 80% Attract new users Differentiate our offering Improve customer satisfaction Improve user experience Improve win rate Increase end user adoption Reduce churn "I strongly agree that embedded analytics helps our company..." Built Our Own Buy Combined Approach
- 26. Click to edit Master title styleBolt-On creates a price cap 20% 30% 40% 50% 60% 70% 80% Bolt-On Solution Combined Approach Commercial applications that charge more for embedded analytics
- 27. Logi Analytics Confidential & Proprietary Click to edit Master title style 27 How you can use this information
- 28. Click to edit Master title styleThe next steps 1. Analyze your embedded analytics 2. Evaluate solutions 3. Invest in improving your analytics
- 29. Logi Analytics Confidential & Proprietary Click to edit Master title styleWhy Logi? Rapidly deploy. 80% deployed in less than 6 months Drive revenue. 75% strongly agree they increased revenue Stickier Applications. 85% increased time spent in application
- 30. 41 Q&A Moderated by: Hannah Flynn Director of Product Marketing, Logi Analytics Linkedin page: linkedin.com/in/iamjoshmartin Twitter ID: @therogueanalyst Website: logianalytics.com With: Josh Martin www.productmanagementtoday.com/webinar-series/create-success-with-analytics www.projectmanagementupdate.com/webinar-series/create-success-with-analytics www.businessinnovationbrief.com/webinar-series/create-success-with-analytics Site Editor, Product Management Today Linkedin page: linkedin.com/in/hannahmichaelflynn Twitter ID: @prodmgmttoday Website: productmanagementtoday.com
- 31. Click to edit Master title style 31 Create Your Own Dashboard LogiAnalytics.com/Demo
Editor's Notes
- #10: Jen to provide context similar from her overview
- #15: Jen to provide context similar from her overview
- #16: This number jumps to 92% of software companies
- #18: Why is this happening? Companies have to add more features Older features must be updated
- #19: You may think you know the right path, but…. The right choice is not easy – not clear – not even for the most experienced software companies….
- #21: Not all applications are created equal… how you add features and which features you add matter.
- #24: Not all applications are created equal… how you add features and which features you add matter.
- #25: And the gap will only widen in the next year
- #26: Application teams that took a combined approach when embedding analytics are 19 percentage points more likely to increase revenue than those that use a bolt-on solution. Shed: Can we use this as a callout box in this section/on this page?
- #28: Not all applications are created equal… how you add features and which features you add matter.