A marketer's guide to composable analytics

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In today's digital world, staying ahead of the competition often means making lightning-fast decisions to take advantage of new opportunities. To be successful, a business must find ways to effectively and quickly analyze ever-changing data sources in order to make informed choices. Advances in technology have enabled organizations to leverage composable analytics to gain insights without relying on traditional modes of reporting or support from IT teams. 

Read on to learn more about the benefits of composable analytics and what steps you can take to start leveraging it in your organization.

“Composable analytics” refers to the process of combining a set of independent tools — data, analytics services and AI solutions — into one digital solution that solves a business problem.  

Composable analytics gained attention and traction at Gartner’s Data and Analytics Summit Americas 2021. According to VentureBeat, Gartner analysts predicted accelerating change as a trend for enterprises, and said composable data and analytics would be key to achieving this. 

The need for composable analytics has grown in tandem with consumer expectations for digital experiences. To keep up, enterprises must deliver unique digital solutions using the most up-to-date data from multiple sources. Making decisions without access to relevant data because it’s too siloed or unavailable slows organizations down and prevents them from remaining competitive.

Composable vs. traditional analytics

Let’s clarify what sets composable analytics apart from traditional data analytics. Here are four requirements of composable analytics:

●     Uses a unique combination of data, analytics and AI solutions that work together as a packaged business capability (PBC) to solve a problem

●     Links insights to rapid business decisions and actions by leveraging machine learning models

●     Relies on a composable architecture for the storage and distribution of resources to various channels and devices

●     Leverages low-code or no-code applications to enable nontechnical users to compose unique analytical solutions from available data and analytics assets

●     Scalable in terms of storage, distribution, data quality and more

How composable analytics can be used

To help you gain a better understanding of how composable analytics work in the real world, here are a couple of examples.

Speeding up an approval process

A financial services company must make fast approval decisions for customers applying for loans online. Their loan approval process had a complex pipeline that took applications on the front end of their website through various approval tools, one at the time, on the back end. 

This process was slow and prone to errors and glitches. By combining the tools that feed data into the analysis pipeline into one integrated solution, the pipeline is shortened, potentially reducing bugs and greatly speeding up the loan approval process.

Delivering unique data to teams

Marketing and sales teams at an enterprise-level organization rely on queries of the same database, but have different needs and require different data to make decisions. Each team must input data into different analytics tools. 

With composable analytics, each team can compose a unique solution that integrates data from the database with the right analytics tools. The marketing team can use composable analytics to make decisions about the types of content it creates and deliver personalized content to customers via various channels in real-time.  

What are the benefits of composable analytics?

Composable analytics can provide a wealth of benefits to organizations across a broad range of industries. 

●     No technical expertise required. One of the biggest benefits of composable analytics is that it puts actionable data insights at the fingertips of the end users who need it without requiring them to have any special technical skills. The data and data analysis they need to make informed business decisions is readily accessible when they need it. 

●     Improved synergy between IT and business teams. With composable analytics, IT teams will still be responsible for configuring the  tools that marketing and other teams will use to compose their data analytics solutions. However, these teams will be empowered to create their own  analytical experiences without reliance on IT, creating more synergy between IT and other areas of business.

●     More interactive analytics experiences. Composable analytics creates opportunities for more interactive analytics experiences. Rather than display preset information, visuals like dashboards can be automated and display different information instantaneously for stakeholders and customers.

●     Shareable data to drive business change. Stakeholders can more easily create and share reports or visualizations showing specific data they need to influence business decisions.

●     Faster innovation. When machine learning models are integrated into composable analytics tools, they can learn over time and make predictions based on data inputs. These predictions can help enterprises innovate and scale faster for an edge over the competition.

Why composable architecture is a must-have for composable analytics

Since “composability” is at the core of composable analytics, this type of analytics solution requires an architecture that supports its modular nature. Composable architecture enables microservices and applications, including composable analytics solutions, to remain autonomous while communicating with each other from a central hub. This is typically a composable digital experience platform (DXP) using a headless CMS.

The key benefit of this type of architecture is that it’s easy to roll out new content and services as well as updates to specific endpoints without affecting other components. This removes boundaries that have held back marketing teams and other business users for decades, empowering them to experiment and think outside the box.

Website analytics, social media, customer relationship management, databases, sales figures and other sources of data can be packaged into composable analytics solutions in the DXP to provide a complete picture of your customers, your industry, or whatever it is you need to understand.

Marketing teams, for example, can roll out new interactive features and data-gathering tools and quickly make improvements based on customer data and feedback. When the right data is easy to access and analyze via composable analytics solutions, teams can move faster and better meet customer expectations. That’s why composable analytics perfectly complements a composable architecture and vice versa.

Learn more

Learn more about composable DXPs in our guide, “The ultimate marketer’s guide to composable DXPs.”

Schedule a free demo to see how Contentstack’s composable digital experience platform can enable your team to reap the many benefits of composable analytics.

 

 

 

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Composable architecture: How to future-proof your business tech stack

Technology is changing at lightning speed along with market trends and customer expectations. Adding more to it, as per a recent survey by the Conference Board, 93% of corporate CEOs are gearing up for a recession over the next 12 to 18 months. The immediate requirement for these leaders is to ensure the resilience of their technology stacks for the future, thereby keeping their businesses ready for a diverse range of unforeseen circumstances. In such a scenario, delivering customized user experience through composable architecture could ensure long-term survival and success.Customer experience is prioritized by 44.5% of enterprises worldwide, as per a 2021 Statista report. Achieving this in today's dynamic environment requires effectively using technology to create and deliver top-notch products and services.To help organizations respond to that sense of urgency, here are five tips to consider when futureproofing your business tech stack.1. Customized User ExperienceBrands, on their composable journey, must focus on offering personalized user experiences, attained using relevant user data right from the start. McKinsey reports that 71% of consumers expect personalized interactions from brands. Besides improving user experience, brands must focus on designing systems that scale with the growing user base and its dynamic functionality needs.2. Coordination with other business unitsContrary to traditional stereotypes, IT does not function in isolation. In fact, to ensure business success, technology initiatives must align with the business's overall strategy and add to the brand's short- and long-term goals. However, transitioning from a monolithic structure to a composable one must be iterative. Once a new technology is integrated within one business unit, it can eventually be rolled out to other units. While preparing for future challenges, the choice of technology will impact multiple business units during a business's transitional phase.To make sure a specific new tech works well for all units, it's essential to plan and think about the opportunities, problems and trends that might occur. This requires effective collaboration across business units. Given the interconnected nature of these departments, proper goal alignment must be ensured to deliver compatible, scalable, flexible and secure results. For seamless and customized solutions across different touchpoints, the chosen technology should be capable of scaling and accommodating new process changes across the organization.3. Constant hyper-personalization and differentiation The importance of customer experience (CX) is highly discussed in the current business ecosystem. Brands are constantly innovating new solutions to thrive in the face of competition. The only way to do that is by adopting highly scalable tech stacks that incorporate speedy change processes. While customers expect a more compelling experience, selecting any technology for the sake of it or, worse, by mimicking other brands will not work and will lead a brand to lose its competitive advantage. Instead, they must adopt best-of-breed components and change stack parts when required, creating the much-required hyper-personalized experiences.4. A flexible approachBusinesses are more unpredictable than ever, increasing the potential stakes for which leaders must be prepared. While tech leaders know that a tech revolution is coming, the exact nature of the change remains unknown. This unpredictability will lead to rapid and diverse market requirements and changes in user preferences. By investing in and leveraging technology, brands can quickly adapt to these changes and make necessary system adjustments. Furthermore, flexible tech is more interoperable, allowing smoother integration with other tools and platforms.5. Prepare your organization for the futureDon't bite off more than you can chew when it comes to composability. Business leaders can decide the number of components they want to switch at a time. Unlike monoliths, composable architectures allow business leaders to determine the number of components they want to change at a time. This makes the shift a lot smoother and much quicker. There is no rush to modernize in haste. With customer needs and industry trends changing dynamically, flexibility in business functionality is the only way forward and achievable through composable architecture. But before getting into the composable journey, organizations must find their motivation and identify their reasons for going composable to deliver a differentiated experience to their audience.

Empowering finance: The composable technology starter-guide

Why composable for finance makes sense (and dollars)The financial services sector, a front-runner in innovation, faces intense competition, from major investment firms to independent banks. When it comes to financial services, today's customers demand agility, security and continuous innovation. To surpass these expectations, the financial world is embracing composable technology for its unparalleled capacity for customization and innovation. Imagine tailoring services to meet each customer's unique needs, staying ahead of evolving regulations, and fostering relentless innovation. Composable Digital Experience Platforms (DXP) are the secret ingredient that fuels this transformative journey for today’s financial services organizations.Benefits of a Composable DXPThis shift offers financial institutions a chance to revolutionize their technology spectrum, driving revenue growth, faster market entry, cost efficiency, enhanced risk management and elevated customer contentment. Through a composable DXP, financial businesses gain the agility to adapt swiftly to market dynamics, personalize customer interactions, unveil new services quickly, and seamlessly integrate innovative solutions to maintain a competitive edge in the ever-evolving financial landscape. So what should financial institutions consider before getting started on their composable journey and how does this shift truly move the needle?Personalized digital experiencesToday’s customers crave personalization. They no longer want to be just another number on a spreadsheet; they want services tailored to their unique needs and preferences. This shift towards personalization isn't just a trend; it has become a necessity in the financial landscape. Composable technology serves as the backbone for this personalized evolution, allowing financial institutions to craft bespoke solutions that resonate with each customer. By leveraging modular components, these building blocks enable financial institutions to design personalized offerings that cater to individual needs. By breaking down services into smaller, interchangeable parts, institutions have the flexibility to mix and match these components, creating dynamic and tailored solutions for their customers. “Integrating a headless CMS into our cloud-native approach allowed us to really optimize edge delivery of a lot of our content… Render times are five times faster when compared to our legacy CMS.”— Clay Gregory | Principal Architect, MorningstarThis composable approach empowers organizations to adapt quickly to changing market demands, stay ahead of the curve and deliver innovative, customer-centric experiences.Improved connectivity, compliance and risk mitigationCompliance and risk mitigation have always been critical in finance. However, the increasing complexity of regulations and the fast-paced nature of financial transactions make these aspects even more crucial.Composable technology serves as a game-changer, not only enabling swift adjustments to comply with regulations but also enhancing risk mitigation strategies. Known for its inherent flexibility, composable technology empowers organizations to seamlessly update their systems to adapt to regulatory changes. This facilitates real-time risk assessment by enabling continuous monitoring and analysis of potential threats. Its modular architecture facilitates the integration of advanced risk management tools and AI-driven analytics. Additionally, it streamlines risk mitigation efforts by providing the agility to swiftly implement necessary controls and measures in response to identified risks. By leveraging composable technology, businesses can proactively identify and address potential risks, predict potential vulnerabilities, and implement preemptive measures, ensuring a robust and secure operational environment.Such a proactive approach not only fortifies the regulatory compliance stance but also bolsters the resilience of financial systems against unforeseen risks, safeguarding the integrity of operations in an ever-evolving regulatory environment.Increased customer engagement: Building loyalty with contentEngaging content is no longer limited to media companies. Financial institutions are recognizing the value in building loyalty and trust among their customers — and nurturing that customer loyalty requires a strategic blend of informative and engaging content. To build lasting relationships and deliver value beyond transactions, more financial services organizations are demonstrating their commitment to customer needs with personalized newsletters, social media, targeted emails and other various channels.But how does composable technology come into play in this context? By enabling seamless integration of various content delivery platforms, it empowers financial firms to create localized and omnichannel content strategies, ensuring meaningful engagement with customers across different channels and regions.This approach enhances the overall customer experience and strengthens the bond between financial institutions and their diverse customer base.“We’re aggressively making changes to the website. We’re trying to draw people in, and we haven’t done that before. We can spin up new pages faster now than they could previously.”— Jason Hagen | Software Architect, Harbor Capital AdvisorsModernizing workflows for today's expectations around agility and innovationAgility and innovation are no longer just buzzwords — they are non-negotiables. Composable technology is a force multiplier when it comes to modernizing workflows and increasing agility. The integration of composable technology not only amplifies agility but also catalyzes a culture of innovation within organizations. With composable technology, teams can streamline operational processes, seamlessly integrate new tools, and optimize collaborative efforts, resulting in enhancements in productivity and efficiency. "We cut out 40% of our tickets by having a CMS where other users can make updates to the website. That 40% is so valuable for us, so we can focus on revenue-driving initiatives and find new ways to get users to engage with our web properties to get more leads in the pipeline for sales. It is a huge advantage for us!"— Kevin Yang | Senior Manager, Digital Experience, ICE Mortgage TechnologyAdditionally, the rapid deployment of new functionalities and enhancements encourages a culture of adaptability, allowing teams to respond swiftly to market shifts and emerging opportunities. Composable technology not only future-proofs operations but cultivates a dynamic ecosystem where innovation thrives, positioning organizations at the forefront of industry advancements.Composable is the key to new growth and revenueIf you are still wondering why composable technology is the future of finance, consider this: it paves the way for new growth and revenue streams.By enabling customization, fostering innovation, enhancing compliance and improving customer engagement, composable technology helps financial institutions tap into previously unexplored opportunities. Composable Digital Experience Platforms are not just about keeping up with the times; they are a linchpin of progress. Composable DXPs embody modernization, propelling businesses forward in a landscape defined by agility, innovation and customer-centricity. Embracing these platforms isn't just about staying relevant; it's about reimagining your digital experiences to thrive in an era where adaptability, personalization and swift evolution are paramount. Are you ready to not just meet but exceed customer expectations?Get started today.

Composable commerce: Best-in-class tools for the job

Many people today use the phrase "composable commerce" — including monolith vendors like Adobe and Shopify. As the composable commerce space has matured, and as more and more brands have seen the value of a system that lets you leverage best-of-breed microservices for your brand needs, it makes sense that legacy tech platforms would want to carve out a piece of the composable pie. But the reality is, a monolith can never truly be composable. If you're on Adobe, you may be able to leverage a handful of third-party services with relative ease—but only ones that have been approved and integrated by them. You’re still locked into their ecosystem, and your ability to make changes and update your commerce experiences is driven by their feature development and priority list. True composability is about breaking down those barriers and putting control in your hands.What is composable commerce?What sets pure-play composable commerce apart? At its core, real composability involves component-based architecture, cloud-native infrastructure and API-first connectivity. This means that modular capabilities can be mixed and matched, scaled, iterated, and swapped as needed. Instead of an all-in-one toolset, brands access integrated microservices via APIs.Cloud-native infrastructure provides the foundation for this plug-and-play extensibility. Containered services scale automatically, while APIs enable headless commerce functionality alongside other capabilities. As capabilities expand, composable stacks stay cohesive yet cutting-edge.“The ability to curate your commerce experience using best-in-breed microservices, with access to the tools you want and need—nothing more, nothing less—is a compelling argument for modern retail and commerce brands,” notes Jason Cottrell, CEO of Orium. The market moves quickly. Brands need to be able to move alongside it.Benefits of composable commerceModular composability centered on APIs and the cloud provides:Targeted personalization: Leverage real-time data for contextualized messaging connecting commerce and contentContinuous experimentation: Rapidly test and scale what resonates without significant liftsFaster innovation cycles: Plug emerging engagement channels into your stackIf a new, better alternative comes on the market, swapping it out won't be an option. When you lock into a monolithic platform, your options will always be limited by their platform. With a truly composable stack based on MACH technologies, you'll be able to leverage the best solutions in the market for your needs. For example, if you need to understand user behavior (and you do), quantumetrics is an industry-leading solution that can be implemented into a modular composable architecture with relative ease. The same can't be said for monolithic counterparts.Overcoming implementation challengesSome brands hesitate to adopt composable commerce, fearing overly complex implementations involving stitching together disparate systems. However, MACH’s open APIs and microservices architecture streamline integrations. Composable also offers the freedom to work with preferred agency partners versus being locked into an agency ecosystem dictated by a suite vendor.With expert guidance, brands can launch composable stacks rapidly. Many even realize faster time-to-market versus monolithic solutions given leaner, more lightweight systems. Vendor-agnostic flexibility also allows engaging your preferred system integrator partners to streamline rollout.“As the space has evolved, moving to a MACH-based architecture has become easier. The emergence of accelerators, like Orium’s Accelerator, can smooth the process for brands, speeding time to first value without sacrificing the flexibility and scalability of a fully composable system,” notes Cottrell.Separating composable leaders from followersIncreasingly, legacy platforms now pay lip service to composability but lack the cloud DNA and API foundations required. Their tools remain a walled garden, restricting the versatility that authentic composable architecture provides. Even with approved partners, integration is complex, expensive and provides minimal capability.Forward-looking brands opt for these purpose-built composable commerce technologies to future-proof innovation potential. With composability anchored fundamentally in the cloud and powered entirely by APIs, curating cutting-edge yet cohesive stacks becomes simple — an unmatched advantage.ConclusionComposable commerce delivers instantly extensible, best-of-breed stacks aligned to business goals. In 2024 and beyond, composable architecture offers unmatched adaptability to address digital experience challenges through continuous experimentation powered by specialized tools. It lays the foundation for optimized customer journeys that convert. This unmatched advantage makes composable the obvious choice for digital experience success.