In the SaaS world today, competition is fierce. Competition isn’t just about acquiring new customers, but also new partners and investors. SaaS founders know they need to stand out from the pack. But how and where do they create the most value and differentiation?
SaaS companies get their start in many ways. Often founders start with an industry or service that is familiar to them where they know a gap exists and then create a new software company to solve that problem. You see this in many verticals such as legal software, restaurant management, and real estate. SaaS companies exist to create solutions specifically for those industries, and their teams often know those industries inside and out.
However, a common thread within SaaS companies that specialize, is that every company’s customers expect their software provider to also be an expert at analytics, and unfortunately that simply is not the case. That’s where Infused Analytics for SaaS Companies comes in.
What is Infused Analytics?
Infused Analytics enables SaaS companies to save time and money by providing and maintaining a complete, end-to-end solution so SaaS companies can focus on their core strengths. Infused Analytics goes beyond traditional front-end only analytics solutions and handles the entire data stack and pipeline so SaaS companies can focus on what they do best.
But Aren’t You Just Referring to Embedded Analytics?
That would be a logical question, but it’s much more than that. Embedded analytics, or embedded BI, is a feature of traditional business intelligence solutions. It was never built for SaaS companies regardless of their marketing. In a future blog post, I’ll address the differences in greater detail. For now, Infused analytics offers a specialized solution for SaaS platforms, not internal business groups. Also, embedded analytics can be part of the infused analytics’ strategy but infused analytics doesn’t have to be, and may not include, embedded use cases.
What is the Value of Infused Analytics for SaaS Companies?
Specialization means understanding your customer’s needs and tailoring solutions around those needs. If you’re in the legal industry, your software may be targeted to case management or documentation. With Infused Analytics, it’s no different and that’s what allows SaaS companies to realize the value of integrating an Infused Analytics solution such as Qrvey.
What sort of value? Value is realized in two primary ways:
Time savings by going to market faster with an advanced analytics offering
Cost savings by requiring less development time and effort by not building everything yourself.
What Does Infused Analytics Include?
As stated earlier, Infused Analytics goes beyond basic front-end reporting. Infused Analytics solutions like Qrvey will offer a solution that includes the complete data pipeline: from data collection to preparation to optimization to analysis to automation.
Remember, SaaS companies are different from internal business units. You’re expecting your customers and prospects to pick a solution that is purpose-built for their needs, so why wouldn’t you do the same?
