If you’re looking to add analytics capabilities to your business solutions, you may want to consider consulting Gartner’s Magic Quadrant for embedded analytics. The annual research study is published by Gartner, and evaluates vendors on their completeness of vision and ability to execute in the embedded analytics domain. Fortunately, the internet is full of valuable insight, making it easy to first understand, and then make the most of Gartner’s Magic Quadrant for embedded analytics with a quick search online right now.
Shutterstock: Andrey_PopovWhat is Gartner’s Magic Quadrant for Embedded Analytics?
Gartner’s Magic Quadrant for Embedded Analytics is a report that evaluates the performance of vendors in the embedded analytics domain. 1 The report evaluates vendors of products, services and technologies on two metrics – completeness of vision and ability to execute.
Based on their scores, vendors are placed on the Gartner Magic Quadrant (GQ) matrix, which provides an easy-to-understand visualization of the competitive landscape.
Why is Gartner’s Magic Quadrant for Embedded Analytics Important?
Gartner’s Magic Quadrant is an invaluable resource for business leaders that are on the hunt for an analytical and objective analysis of the performance of vendors in the embedded analytics sector. It makes it easy for you to compare vendors on multiple criteria including functionality, performance, cost and customer service.
The result is an informed consumer, and a much more competitive embedded analytics marketplace. 2 The report shines a light on the successes and failures of industry leaders, which is almost always a good thing.
The Benefits of Gartner’s Magic Quadrant for Embedded Analytics?
There are several benefits of Gartner’s Magic Quadrant for embedded analytics, including:
Enables an Informed Analysis of the Market
The report provides a comprehensive analysis of the performance of vendors in the embedded analytics domain, which enables businesses to make informed decisions when selecting an embedded analytics solution.
Provides a Quick View Vendors’ Strengths and Weaknesses
The GQ matrix provides an easy-to-understand visualization of the competitive landscape, which allows businesses to quickly identify vendors with strengths and weaknesses that align with their needs.
Highlights The Vendors With the Most To Offer
By evaluating vendors on multiple criteria, the report helps businesses identify vendors that offer valuable products, services and technologies.
It’s a Comprehensive Look at Vendor Performance
The report evaluates vendors on multiple criteria such as functionality, performance, cost and customer service, which enables businesses to compare vendors on a variety of factors.
Minimizes Undue Waste
By providing an analytical and objective analysis of vendor performance, the report enables businesses to make well-informed purchasing decisions.
Saves Time and Resources
Instead of conducting their own analysis of the embedded analytics market, businesses can rely on the report to provide them with a comprehensive analysis of the competitive landscape.
What Are the Limitations of Gartner’s Magic Quadrant for Embedded Analytics?
While Gartner’s Magic Quadrant for embedded analytics provides businesses with valuable insights, there are several limitations to consider, including:
Limited to Information Received From Vendors
The report is limited by the amount and accuracy of data provided by vendors. If vendors don’t provide accurate or comprehensive data, the report may provide misleading results.
Based on One Analyst’s Opinion
The report is based on a single analyst’s opinion and is not an exhaustive analysis of the embedded analytics market. 3 While Gartner employs a team of analysts, the report is typically the result of the work of a single analyst.
Doesn’t Include Every Vendor
The report does not consider all vendors in the market, as some may not meet Gartner’s criteria. This means that businesses may miss out on valuable solutions that aren’t included in the report.
High Barrier to Entry for New Vendors
The process to be included in a Gartner Magic Quadrant can be complex and resource-intensive, potentially excluding innovative but smaller vendors who cannot afford the time or costs involved.
Geographic and Industry Focus
The report often has a North American or Western focus and may not accurately represent the embedded analytics solutions that are ideal for different geographic regions or specific industries.
Lack of Context for Niche Solutions
The Magic Quadrant may not provide sufficient detail for specialized or niche solutions, which may actually be the best fit for certain businesses with specific needs.
Stay Up To Date!
Gartner’s Magic Quadrant for embedded analytics is a valuable tool for businesses seeking to harness the power of analytics. It’s an analytical and objective analysis of the performance of vendors in the embedded analytics domain, and should be used to inform your purchasing decisions.
It’s not without its failings though. To get a full picture, you’ll need to keep searching and reading online. However, the accuracy of data provided by vendors, and the fact that the report is based on a single analyst’s opinion must also be considered. Regardless, it’s a valuable tool and a great way to get a better glimpse of the top vendors in the sector.