Microsoft’s Power BI is a business analysis tool that helps you to visualize and share data across your organization.
But before we go deep into Power BI, let’s discuss what is Business Intelligence (BI).
Business intelligence (BI) is a technology-driven process that analyses and turns data into actionable insights that assist companies in making strategic business choices.
BI tools allow users to access and analyze data sets from both internal and external sources, and then show their results in the form of summaries, reports, graphs, charts, and dashboards.
The major purpose of BI is to access and analyze the vast flow of data from inside and outside of the organization that helps to increase revenue, improve efficiency and gain a competitive edge over competitors.
BI helps organizations gain information and form conclusions based on relevant data about corporate decision-making elements such as production, demand, quality control, and the organization’s internal mechanisms.
In every business, the ultimate goal of BI is to make optimum choices at all levels of the organization as effectively and quickly as feasible.
Microsoft Power BI
Power BI takes advantage of Microsoft technologies like Azure, SQL, and Excel to create cost-effective data visualizations. For people who are already working with Microsoft products such as Azure, Office 365, and Excel, this is an excellent option. It’s also a low-cost solution for SMBs and startups that want data visualization but don’t have a lot of spare cash.
To get insightful information using BI Software, follow certain steps:
- Data Collection
- Data Storage
- Data Cleaning
- Data Analysis
- Data Visualization
We can implement all these steps with no problem in Power BI. It’s very easy.
Our data can be in the form of an Excel file or Cloud Data Warehouse. With the help of Power BI, we can connect to our data sources, analyze, visualize and gain insights from our data.
Power BI can assist us with not just rapid analyses and insights, but also with big-scale real-time analyses on enormous volumes of data. It can assist with data analytics requirements not only for small businesses but also for major enterprises dealing with massive amounts of data.
It is made up of three major components:
- Power Bi Desktop — A MS Windows Desktop Application.
- Power BI Service – A Software as a Service (SaaS) Application that is available online.
- Power BI Mobile App — Available as an Android and iOS app.
These services enable users to utilize them as part of an ecosystem, allowing them to consume business information in the most efficient way possible.
A report is typically prepared on the Power BI desktop and then shared via the Power BI service for other team members to use or view. Reports can also be seen on the Power BI mobile applications by users who are on the go. As dashboards and reports are readily available so it becomes very easy for team members and external stakeholders to look into.
Read our blog on Power Apps “Why should you start thinking about Power Apps?”
Why use Power BI?
Some reasons Power BI is so popular and vital in the business intelligence market are:
- Access to vast amounts of data from multiple sources.
Power BI can extract enormous amounts of data from a variety of sources. Power BI supports Excel, CSV, XML, JSON, pdf, and other important data sources. It helps you to examine, analyze, and display large amounts of data that Excel cannot open. Power BI imports and caches data from.PBIX files using an advanced compression algorithm.
- Features of Interactive UI/UX
Power BI makes data more attractive to the eye. It offers a simple drag-and-drop interface, as well as capabilities that allow you to copy all formatting across identical visualizations.
- Exceptional Excel Integration
Excel business data can be gathered, analyzed, published, and shared with the use of Power BI. Excel queries, data models, and reports may be readily connected to Power BI Dashboards by anybody who is acquainted with Office 365.
- Speed up Big Data Preparation
Power BI, in conjunction with Azure, enables you to analyze and share huge amounts of data. An Azure data lake may help business analysts, data engineers, and data scientists collaborate more effectively.
- Convert Insights into Action
Power BI empowers you to take data-driven business decisions by extracting insights from it and turning those insights into actions.
- Real-time Stream Analytics
Real-time stream analytics will be possible with Power BI. It provides real-time analytics by taking inputs from many sensors and social media sources. This ensures that you are always prepared to make business decisions.
Read our previous blog “How Microsoft can help in Digital Transformation for business of any size?”
In the realm of Data Visualization, Power BI is a formidable business intelligence tool. This Microsoft Business Analytics tool has enabled us to connect easily to hundreds of data sources and breathe life into our data through beautiful dashboards and detailed reports.
Our method is simple, easy, and out of the box. Consult our experts today and start using Microsoft Power BI to achieve data-driven insights.
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