Every business today is striving towards greater competency, agility, and effectiveness. Business Intelligence or BI is a fundamental part of the journey to this end. As businesses scale up, managing data becomes more and more challenging, creating obstructions for data-driven organisations that want to harness the potential of data to drive business decision-making. Additionally, the siloing effects and un-objective reporting infrastructure within the enterprise force key stakeholders to decide on partial information.
For this reason, BI systems are prevalent across organisations. Having an analytical structure in place helps analyse data effectively, thus helping enterprises find actionable insights, create strategies, and enhance decision-making.
Definition of Power BI:
Power BI derives its name from Business Intelligence. Presently, AI is being used by most agile and profitable enterprises today to aid in decision-making. Every business owner today is experiencing the complexities of making decisions based on massive volumes of data. The hardest part of making decisions this way is to see the bigger picture, which can help you gain the necessary insights to guide businesses to success.
One of the benefits of Power BI is that you can view every element as a singularity and make better business decisions. The visual representation via the dashboard helps users to see relevant data faster and make better choices.
Benefits of Power BI:
1. Seamless integration with existing applications:
Power BI can easily integrate with a business’s existing environment, thus allowing you to adopt business analytics and report on existing capabilities. Microsoft Power BI consultants and professionals can help your business leverage this tool to easily embed interactive visuals within your applications.
2. Rich, personalised dashboards:
The most distinctive and beneficial feature that Power BI offers to businesses is the data dashboard. Multiple dashboards within Power BI facilitate customisation to meet the specific needs of different enterprises. These dashboards and BI reports can ensure easy integration within your applications for a unified user experience.
3. Securely publishing reports:
Power BI tools help businesses set up automatic refresh mechanisms and securely publish reports for all the users to understand.
4. No constraints of memory or speed:
When you shift your existing BI system into a robust cloud environment with embedded Power BI, it ensures data is analysed and retrieved much faster. This step removes any constraints placed on device memory or speed.
5. No specialised technical support needed:
Power BI ensures agile analysis and inquiry without needing specialised tech support. It supports the use of intuitive graphical design tools and a powerful interface based on a natural language.
6. Rapid and accurate extraction of business intelligence:
Power BI helps businesses convert enterprise data to rich visuals, thus withdrawing business intelligence for advanced and better decision making.
7. Balanced performance and simplicity:
Two exquisite instances of a balance between performance and simplicity are DAX scripting language and in-memory analysis tech.
8. Support of advanced data services:
Teams developing power BI can help businesses seamlessly integrate the environment with Cognitive solutions, Cortana and other advanced cloud services.
Applications Used in Power BI:
Let’s take a look at some examples of applications that are popular with Power BI.
1. Excel: You can quickly move files within each other with Excel and Power BI. It is possible while generating pivot tables or charts from the visual dashboards of Power BI. This step provides businesses with new ways to explore and use Excel, taking your data analysis methodology to a whole new level.
2. Azure: Microsoft Azure has made it much easier to analyse and exchange vast volumes of data. Azure is arguably the best way to prepare for using Big Data when combined with Power BI. It helps promote collaboration among employees with scientific professionals who require access to Big Data, including analysts and engineers.
3. Microsoft Cloud App Security: While Power BI makes it simpler to exchange and access data, data security is a legal business requirement. To that end, Microsoft’s Cloud App Security, combined with Power BI, is used to prevent possibly harmful activities from harming the integrity of the stored data.
4. Office 365: Power BI is one part of the Microsoft suite of software. It can easily integrate with Office 365. Most enterprise employees and IT professionals are familiar with the interface of Office 365. This makes it easier to coordinate and work seamlessly within the enterprise.
Using Power BI tools and integrating them with your existing ERP software can help take your organisation to new heights. Data fluidity and the team’s access to the data dashboards can be a game-changer for the competitiveness and efficiency of your business.