Hi Sayanika,
You can connect to D365FO with PowerBI to get data by 'Odata feed',
1,go on Power BI Desktop
2,In the ribbon, click on "get data" lower button, and choose "OData feed"
3,Then enter the URL you usually have for you environment, at the end of your URL, you have to add "/data" Here is a contoso example :
contosoaos.cloudax.dynamics.com/data
4,Then you just have to enter the credentials you have for you user account on AX. Personnally it's an organizational account, choose the kind of credentials that fit you situation best.
When you finish it, you'll have access to all the tables you're allowed to have, according to your security rights and priviledges,pick the one you want in the list and load them to your Power BI workspace to start working.
But with odata connection, you can never see all your tables, views, only the entities which are made available.
As Satish said, i also think 'BYOD' is a good choice, just create a new database so that you can point Power BI to that.
