Rise in the Technological Developments and Automation by the Companies Offering Top Embedded Analytics Tools

With the advent of Industry 4.0, the embedded analytics sector has witnessed several market players incorporating technologies such as machine learning (ML) and artificial intelligence (AI) in their solutions. AI and ML algorithms are being used for automating several aspects such as data analysis, data preparation, and other visualization functions. These algorithms assist users in data management and analytics by helping the delivery and generation of data fabric proficiencies, self-service data preparation, smart organization data catalogs, AI-driven data cleansing, and others. These factors are elevating the emphasis of market players toward the development of advanced AI-powered solutions.

Furthermore, the solutions record a high deployment rate across the IT and telecommunications and retail industries. Embedded analytics solutions assist telecom companies to understand their customers by studying the usage of numerous services, purchase history, billing preferences, and location data, among others. In the retail sector, the solutions play a pivotal role in determining essential insights associated with inventory, operations, customers, and sales.

The global market for embedded analytics reached USD 15.25 billion in 2022 and is anticipated to expand from USD 17.28 billion in 2023 to USD 55.54 billion by 2030, exhibiting a CAGR of 18.2% over the 2023 to 2030, as cited by Fortune Business Insights. To outpace their competitors, industry players are devising and implementing various strategies including the modernization of platforms with high-tech mechanisms to offer best embedded analytics tools. Besides, they are also forging partnerships to increase their geographical footprints.

Here Is An Account Of The Top 10 Embedded Analytics Companies Offering Best Embedded Analytics Tools In The Market:

1) Salesforce, Inc. (Tableau):

Salesforce provides enterprise cloud computing solutions. The company’s array of offerings comprise automation, customer data cloud services, marketing, integration, commerce, and artificial intelligence. In February 2024, Salesforce announced its availability of Tableau Pulse for users for making enhanced and faster decisions with generative AI and analytics. The solution includes all Tableau Cloud editions and free embedded analytics solutions.

2) QlikTech International AB:

Qlik helps boost tactical business outcomes and assists enterprises transform data landscapes into understandable insights. The company offers an active intelligence platform focused on offering real-time, end-to-end data incorporation and analytics cloud solutions for bridging the gaps between action, data, and insights. In January 2024, Qlik rolled out the AI Council to boost the adoption of AI across businesses. The solution integrates ethical, cutting-edge AI development with the mission and industry plan of an organization.

3) Toucan:

Direct analytics platform Toucan empowers businesses to increase data engagement and claims to offer the best customizable experience over any device. In March 2022, Toucan announced its guided analytics solution’s accessibility on Amazon Redshift. The solution enables users to introduce analytics processing, providing clear and contextualized insights to business users by creating actionable data visualizations.

4) Oracle:

Oracle Corp offers cloud-driven solutions for enterprises and organizations. The company is also known for delivering incorporated cloud solutions such as IaaS (Infrastructure-as-a-Service) and SaaS (Software-as-a-Service). In October 2023, Oracle Netsuite unveiled new upgrades to its NetSuite Analytics, providing more insightful data to users. The upgrades would help enhance user experience through features such as frequent data refreshes, improved user access control, and enhanced financial data analysis.

5) SAP SE:

SAP SE provides numerous solutions such as intelligent technologies, embedded analytics, enterprise financial management and resource planning, and others. The company caters to clientele requirements across numerous industries such as consumer products, oil, gas, and energy, transportation and logistics, aerospace and defense, chemicals, financial services, government, healthcare, and others. In March 2024, NTT DATA inked a partnership with UXE Security Solutions to deploy SAP S/4HANA Cloud for continuous integration between financial and operational transactions.

6) MicroStrategy Incorporated: 

MicroStrategy provides modernized analytics on an open enterprise comprehensive platform. The HyperIntelligence-featuring platform assists users make smarter and faster decisions. In January 2024, MicroStrategy unveiled the latest feature to its MicroStrategy 10 platform, MicroStrategy 10.8. The feature offers competencies across enterprise mobility, embedded analytics, enterprise IoT, enterprise cloud, and enterprise analytics.

7) IBM:

IBM provides hosting and consulting services across an extensive range of areas such as mainframe computers and nanotechnology. The company’s Sterling Business Intelligence solution provides embedded analytics for the integration of numerous business intelligence solutions. In March 2024, IBM shared plans for the rollout of Sterling Intelligent Promising Premium. The solution has the features of IBM Sterling Intelligent Promising Standard and incorporates AI-driven post- and pre-buying optimization.

8) Looker (Google):

The solutions offered by Looker assist businesses in the faster development of applications and the emphasis of core capabilities, offering improved user experience. In March 2023, ThoughtSpot shared plans to partner with Google Cloud and integrate with Look for renovating data usage by companies. The solution’s capabilities can be deployed by organizations for data monetization through the development of entirely new data solutions with embedded analytics.

9) Microsoft:

Microsoft is a developer and provider of software devices, solutions, and services. The extensive array of the company’s offerings include server applications, operating systems, business solution applications, cross-device productivity applications, software development tools, and others. The company’s Microsoft Power BI embedded analytics offers hands-on practice with sample code or embedding user reports. In March 2023, Microsoft announced that developers deploying Microsoft Power BI can make use of Microsoft Fabric’s new competencies while leveraging the REST APIs of Power BI and supporting their Power BI embedded solutions.

10) INFRAGISTICS (Reveal):

AI-driven platform Reveal is used for eDiscovery, document review, investigation, and legal hold. The company’s software integrates human direction and technology for renovating structured and unstructured data into actionable insight. In March 2022, Infragistics launched the Reveal embedded analytics platform for simplifying management, integration, and pay-for analytics. The new platform would help embed data applications and analytics.

Growing Digitalization and Emergence of Tech Startups to Augment Product Demand

Several countries are witnessing the emergence of small enterprises and startups centered on digital technologies. Besides, there is a rise in investments associated with technology development across countries such as Japan, Singapore, India, and others. These factors in tandem with rising partnerships among industry players are set to favor the demand for best embedded analytics tools over the forthcoming years.