Top 3 Ways SaaS Companies Can Monetize Their Data

As a Saas company, your customers are generating tons of valuable data every day. Up until now, much of this data was hard to access and analyze. But thanks to modern embedded analytics, software companies can finally unlock the potential of this valuable resource and offer a ton of value for their customers while creating lucrative new revenue streams for themselves. Here are the top three ways software companies can use modern analytics to monetize their data.

Software companies can finally unlock the potential of data and offer a ton of value for their customers while creating lucrative new revenue streams Share Tweet

3 Ways to Monetize Data With Embedded Analytics

#1 New Products or Add-ons

Your customers are hungry for additional insights, analytics and actions. Why not exceed their expectations? Modern embedded analytics platforms make it easy for software companies to build analytics add-ons, or even entire analytics applications, and make them available to their customers for additional revenue. Analytics are a great way to increase engagement, make your software more sticky and boost your average revenue per user.

#2 Upgraded User Licenses

Analytics are a great way to boost the overall value of your software or service, offering a more full-featured experience that can easily translate into higher license fees for all, or a segment of your users. All-in-on analytics platforms like Qrvey offer data collection, analytics, visualizations, automation, machine learning and a lot more, all in a single platform.

#3 Professional Services

Your users are hungry to gain insights from the data you’re collecting. A modern, cloud-native analytics platform and allow your professional services team to create charts, reports, dashboards and more, while automation can allow for alerts, notifications, insights and actions to be sent automatically as metrics and thresholds are met. The possibilities are endless and the revenue potential is enormous.

Embedded analytics for SaaS companies have evolved to include a lot more than just charts, reports and dashboards. Qrvey is an all-in-one analytics solution that includes your entire data pipeline, giving software companies multiple ways to monetize the data they’re already collecting from their customers. No matter what your goals, from increasing revenues to boosting customer retention. Qrvey can open a world of possibilities.

Check out our ebook on the Build vs Buy trap for more in-depth insights.

David Abramson

David is the Chief Technology Officer at Qrvey, the leading provider of embedded analytics software for B2B SaaS companies. With extensive experience in software development and a passion for innovation, David plays a pivotal role in helping companies successfully transition from traditional reporting features to highly customizable analytics experiences that delight SaaS end-users.

Drawing from his deep technical expertise and industry insights, David leads Qrvey’s engineering team in developing cutting-edge analytics solutions that empower product teams to seamlessly integrate robust data visualizations and interactive dashboards into their applications. His commitment to staying ahead of the curve ensures that Qrvey’s platform continuously evolves to meet the ever-changing needs of the SaaS industry.

David shares his wealth of knowledge and best practices on topics related to embedded analytics, data visualization, and the technical considerations involved in building data-driven SaaS products.