If you've dared to want more from your data, as many today have, you've likely come across the terms white label analytics or white label dashboards. The terms are increasingly common...but what do they mean? And why are they used virtually everywhere, from healthcare to fintech?
Well, we're glad you asked.
After reading this article, you'll be equipped with everything you need to know about white label analytics to make more informed decisions, and actually be guided by your data.
So, What is white labeling anyways?
White labeling, put simply, allows one product or service to be sold and rebranded under another company's brand.
The term "white-label" came from the white label on a package that has a company's branding and logo. So, when another organization "white-labels," it simply means that another company will be rebranding one of its products or services to make it appear as the purchasing company's own.
We get it, the term almost makes it seem illegal...but, the truth is, white-labeling is common, agreed upon by both parties, and mutually beneficial.
The product or service is bought out by the company that then brands it as its own; this provides business for the company that produces that product or service and simultaneously allows the company doing the rebranding to provide a service it wouldn't have been able to otherwise.
What can you white label?
The most commonly white-labeled products are somewhat obvious: think about Target, Whole Foods, or other big brand names that white-label everything from band-aids to vitamins under their own name.
In the context of white label analytics and dashboards, it is now probably evident that services (even online SaaS-based ones) can be white-labeled as well.
All of Toucan's analytics offerings, for example, can be white labeled.
What are white label analytics?
White label analytics is a subset of embedded analytics.
Like embedded analytics, white label analytics are typically capable of integrating with any XaaS (Anything as a Service) product or on-site infrastructure to help companies better understand their data.
The white labeling feature allows companies to completely personalize a third-party solution, integrating it directly within their product to provide a seamless user experience. Technological advancements have turned white-labeled analytics into scalable, secure, and often necessary BI solutions.
On top of saving companies time and money, white label analytics offers a variety of other benefits, including:
Customization
Amongst the key differentiating features of white label analytics is the ability to white label the vendor's data visualizations to align with your brand.
You can change the font, color, background, look, and general feel to match your existing product perfectly.
You also have the option to add brand visuals, like logos, images, and videos, directly in the app to create a fully realized environment.
It will look like an in-built analytics solution in your offering, greatly improving the user experience for both your front-end and back-end users.
Real-time updates
Any update your white label analytics vendor makes is a free upgrade to your product.
Yup, that's right: that means they stay ahead of the research and development so you don't have to. Instead, you and your team can focus on your core business. You can roll out multiple new analytics features without your dev team having to spend a single minute (or dollar).
This saves months in time to value when compared to building in-house and exponentially increases the time to market of analytics solutions or offerings.
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A competitive edge
The XaaS market has become increasingly competitive. So, now more than ever, it's vitally important to find ways that you can stand out from the competition.
The right white label analytics solutions can help you do just that.
By offering a fully branded, guided, intuitive, actionable analytics experience to your customers, you magnify the value (and stickiness) of your product without compromise.
That means that, for your users, a more justified ROI, and reason to recommend your product.
For your team, it means being able to spend time on what matters, like offering better core feature upgrades and customer support.
Data Storytelling
Not everyone has the same expertise with data or the same need for information.
And, let's face it: no one remembers a chart, while everyone remembers a compelling story.
Advanced white label analytics solutions will add the meaning and context users crave to make data impactful and valuable. Look out for things like:
- Built-in story creation tools that let you specify context, create fun features like glossaries, and add calls to action to ensure maximum value.
- The ability to turn insights into action by providing a step-by-step experience for your users. That means no “so what?” questions or cognitive overloads.
- Ease of connection (the ability to connect charts, add filters, and enable drill-downs to give users an easily-consumed feed of insights)
The right storytelling studios allow companies to go past mere data visualizations and convert their data into stories that actually have an impact on business, ones that easily translate into actionable insights which are simple enough for any business user to understand, irrespective of their technical literacy.
How do I know if I need white-label analytics?
You need white label analytics if:
- You are a fast-growing company.
Scaling in-house analytics is one of the biggest deterrents to growth.
It takes months to develop and needs constant in-house maintenance. Replace it with a white label embedded analytics solution that is made to scale.
- You need to stand out
Perfecting your core competency should be the number one priority in a competitive and saturated XaaS market.
So, you probably can't dedicate the time and resources necessary to create (and maintain) an amazing in-house analytics offering which would be a major point of differentiation.
White label analytics to the rescue!
- Your customers want analytics
If your customers are asking for in-application analytics, it means you needed an analytics offering. Yesterday.
A quick plug-and-play white label analytics solution will satisfy your customers quickly, increasing customer retention (and referrals).
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