When deciding whether you should build or buy an analytics solution for your product, there are important points to consider. Is your team’s core competency in creating interactive data analytics experiences? Can you afford getting your team to prioritize building, maintaining, improving and fixing issues for analytics in your software? Is time-to-market important for you or can your customers and prospects continue to wait for it without going for a competitor?
A very common fallacy when adding a new feature into your software is to think that you can just build a first version and you will be done with it. The truth is: bugs and new requirements are always lurking behind every new feature you add. So it is very important to be mindful of what you add and, if it is not your core competency, to buy it instead of building it. When you buy an embedded analytics solution, you are buying all future bug fixes and new features you would never implement by yourself.
This will allow you to deliver the best-in-class analytics experience to your users on a much shorter timeline, freeing up valuable bandwidth to help you focus on other areas of product development, which only your team can build.
Additionally, building analytics into your software is a costly process – this is mainly because it is a deviation from the core competence of the team, which is probably focused on building the best software possible to solve a particular problem in the field of say, accounting or retail. A solution like Veezoo gives you a battle-tested and intuitive embedded analytics experience that you can plug in to your software, saving costs and resources.