6 Ways Microsoft Power BI Enhances Your Business Intelligence

There is no denying that Data is the new oil of the digital economy. 

It is the driving force behind all the decisions that your customers take. Data, which was once scarce, is now growing by leaps and bounds. However, if your data isn't organized and accessible, it is of no use. 

This is where a powerful business intelligence tool like Microsoft Power BI comes in handy.

Some businesses use Power BI to bring numerous data sets together, while others use it to streamline their reporting processes. Above all, most organizations want to harness the power of analytics to make substantial improvements to their businesses.

With Power BI, you can simply bring your team together, communicate on a sophisticated platform, and modify data with ease. You have the ability to extract information, analyze and compare historical and real-time data, generate useful reports, and make trend predictions. You can then make decisions to improve your business, ranging from broad process improvements to granular day-to-day operations.

Is Power BI truly useful?

Power BI is an enterprise business intelligence (BI) platform that lets you connect and visualize data. It's simple to use and can help you gain a more in-depth understanding of your business data.

Microsoft Power BI can assist you in collating, visualizing, and analyzing large amounts of data that are vital to your business. You can get rid of boring, lengthy reports and get all the information you need on one page in the form of graphs and charts that are appealing to the eye.

Because of its familiarity with MS Excel, Power BI's user interface is intuitive and user-friendly. It's an adaptable self-service tool that requires very little training since it's extensively integrated with Microsoft products and other widely used databases.

Diving deep into data is so straightforward with Power BI that anybody in the organization can use insights to make quick, impactful decisions.

Business intelligence (BI) and the ability to get actionable insights from data are critical for every business that wants to be agile, future-proof, and future-ready.

Power BI has become a necessity for businesses due to its unparalleled capabilities. It’s easy to deploy, row-level protection, speedy and accurate visualization, and data analysis from a variety of sources are just a few of the features that set Power BI apart from the competition.

6 Business Benefits of Microsoft Power BI

Let's look at how Power BI can improve your current business processes and boost your ROI. 

• Easy-to-Use Platform 

Learning to utilize Power BI is simple and effortless regardless of your skillset. You can use the tool right away to make significant progress. To witness results, you don't need to be an expert in analytics. 

Businesses can foster a data-driven culture by empowering employees to use analytics in their reporting, planning, and decision-making processes on a daily basis. Furthermore, Power BI is designed in such a way that Microsoft users, particularly those who are familiar with Excel, would find it intuitive.

• Customizable Dashboards

Users can easily customize their dashboards to keep track of the metrics that matter to them. Individuals, teams, and departments can all benefit from this type of customization. Users can select data that is unique to their needs, use their preferred visualizations to present and connect that data, and effortlessly share and communicate their findings within the platform. This allows users to focus on the information that matters to them the most.

• Compelling Visualizations

To create appealing, captivating graphics and reports, there are hundreds of visualizations to pick from. The way we view data has a significant impact on how we perceive and understand it.

Users can select graphics that resonate with their own sentiments, conveying signals to themselves through their own design. They can also make their reports more presentable and shareable so that the information is quickly understood. Users can make claims, justify requests and decisions, validate outcomes, and motivate action with the right mix of visuals. 

• Powerful Data Processing

Power BI is capable of extracting massive amounts of data from a variety of sources. This means you can bring together data from various business functions of your company, regardless of whether it's on-prem or in the cloud. 

This includes data sources like Dynamics 365, Excel, Azure SQL Server, SharePoint, and others, both in the cloud and on-premises. The data can then be transformed and modeled in Power BI using simple Excel-like tools.

• Actionable Insights

With consistent and well-organized data at your disposal, you can easily identify opportunities for improvement and transformation within your organization. Everything can be optimized, from spending to logistics, operations, customer relationships, and employee performance.

Machine learning capabilities in Power BI can even be used to generate business forecasts. If you're not sure where to begin, features like quick insights and Q&A help point you in the right direction. You will have access to the latest, accurate insights about your business to make strategic business decisions. 

• Real-time Data Aids Decision Making 

Power BI's interoperability with mobile devices is one of its key advantages. It gives access to all of your company’s vital information at your fingertips.

Connect your report to an on-premises data gateway to gain immediate access to updated reports. Power BI can be connected to social media sources, SQL servers, or any other source that collects time-sensitive data.

Furthermore, the dynamic graphics save you time reviewing the data by allowing you to quickly identify high-risk elements that require immediate action.

Since data changes by the minute, you'll need up-to-date information to stay ahead of the competition and make quick decisions. Real-time call records can assist your customer service managers in identifying bottlenecks in wait times and directing them to take immediate action.

Conclusion 

More than 30,000 businesses have reaped significant benefits from Power BI. For the 14th year in a row, Gartner has named Microsoft a Magic Quadrant Leader in Analytics and Business Intelligence Systems.

In today’s ever-evolving digital landscape, data plays a significant role in shaping the present and future of enterprises. Power BI has been highly successful in all of the parameters that serve as competitive differentiators. It's not just about collating information, it's about gaining timely actionable and valuable business insights. The journey to digital transformation is made easier by achieving data visualization excellence using Power BI.