Business intelligence and the capability to develop actionable insights from your data are essential for any organization striving to be agile, future-ready, and outperform its competitors. Almost all organizations develop a Business Intelligence strategy to drive better insights. Microsoft Power BI Consulting helps clients to plan a comprehensive strategy for improving their performance by leveraging the available data.
As companies enlarge and develop, it can become more difficult to manage data on a constant basis. As an outcome, businesses repeatedly face obstructions that stop them from performing a broad analysis of their data to drive well-versed business decisions.
Whether it is unsuited systems that prevent the sharing of data, or the silo approach fostering conflicting goals and completely different reporting structures, it’s common for organizations to be lured into action based on insufficient data that doesn’t give the full picture. However, there are some modern and powerful enterprise tools that can help.
Microsoft Power BI- Leading BI Software
In 2019, Gartner forecasted that the BI market will grow up to US$20 billion. With radical growth from 2020-2025.
There is an overabundance of business intelligence software and services you can currently leverage to collect and manage your data more effectively, make information accessibility better across your company, and eventually help sustain more accurate reliable results.
Microsoft Power BI is one of the trending BI tools and is a leader in its field for its cost-effective model and wide-ranging analytics capabilities. It’s confirmed to facilitate significant cost savings and improved productivity, with numerous high-status international companies using the software.
Top 10 Reasons to Have Power BI within Your Organization
Whether it is interactive dashboards to combine key metrics or affluent reports to join datasets from workloads, Power BI is a key tool to connect with business data, draw it from a wide range of different sources and facilitate smarter data-driven decisions.
Apart from many other benefits of Power BI, it also provides features for data preparation and discovery, interactive dashboards, and valuable visualizations in a single solution with its self-service features that make it an intuitive tool for cooperating with data and transforming it into insights more easily.
Here are the following 10 reasons why you should choose Microsoft Power BI to fulfill your business goals and facilitate smarter insights with better efficiency, why you should start using it within your organization to bring business intelligence.
1. It’s Easy to Combine Your Data Together
Power Bi presently holds up to 70 plus connectors out-of-the-box, allowing businesses to load data from a broad range of frequently used cloud-based sources such as Azure Data Warehouse, DropBox, Google Analytics, OneDrive, and SalesForce other than Excel spreadsheets, CSV files, and data available on-premises like SQL Database.
You can always customize components further to your preferences, or have your data experts begin from scratch by transferring your datasets and building your own dashboard and reports.
The drag-and-drop interface available in Power BI also means you don’t need to code or copy and paste anything to get started and it can join multiple files, such as Excel spreadsheets, and enable you to evaluate the merged data in one report.
2. It’s Powerful and High Performing
Power Pivot data modeling engine in Power BI is an extremely performant columnar database, making use of present tabular database technologies to compact databases and make sure they load completely into memory for optimal performance.
It’s common for your Power BI Workbook (.PBIX file) to be considerably smaller than your original data sets. Actually, 1GB databases are generally compressed down to about 50 – 200MB in size. In comparison, while Excel starts to reduce speed when dealing with large models, Power BI is optimized to tackle tables with more than 100 million records without making much effort.
Power BI also deploys automated, incremental refreshes and ensures data is always updated, an important advantage that additionally streamlines visual reporting for end-users.
3. It has Custom, Open-Source Visuals
Power BI has a vast amount of pre-packed typical data visuals to utilize in your interactive reports, such as bar, column, line, map, matrix, pie charts, table, scatter, and waterfall, each one with its own diversity of customization options for better presentation and functionality. For extra impact, you can also utilize free custom visuals built by developers and shared with the Power BI community to signify your data in a way that supports your data story the best.
With custom visual files presented by both Microsoft and the community over at the AppSource Marketplace, there’s a remarkable range of affluent and complex visuals to take benefit from, comprising bullet graphs, correlation plots, sparklines, decision-trees, heatmaps, and more.
If you want to show your data in a very precise way, Power BI makes it very easy to generate your own visuals rather than being stuck with the standard ones. It is also extremely helpful to view and use what the wider Power BI community is using to enhance your own design techniques.
4. Qualified Data Experts can Use Its Native R Integration
The core strength of Power BI is its simplicity, but it also empowers advanced data experts. One way it attains this is through its integration for R, an open-source programming language that presently has over 7,000 packages and is mainly used by data miners and statisticians.
R scripts utilize compound graphical techniques and statistical computing for data exploitation, machine learning, and statistical modeling. It includes data visualization and as expected, Power BI enables you to integrate these detailed R visualizations straight into a typical dashboard.
Power BI is vast on its own to explore data further and slice it down for displaying relationships, key metrics, and hierarchies in a better way. But with its native integration with R scripts, users can present more advanced business analytics and shape such as machine learning, predictive trends, and smoothing.
5. Enable more Advanced Analytics with Common Excel Features
Advanced Excel users are well-informed to Data Analysis Expressions (DAX) formula language that can mine deeper into data and discover patterns easier with Power BI, with its well-known Power Pivot features such as; clustering, forecasting, grouping, and quick measures.
The integral self-service Power Query tool will also be recognizable to Excel users, making it easy to ingest, integrate, modify and enhance business data in Power BI from the get-go.
One other simple benefit is Power BI flawlessly integrates with Excel, opposing the need to export files, just click on ‘Analyze in Excel’ and Power BI provides an interface nearly identical to Excel. If you’ve had issues getting your business users to transition to a new tool, Power BI’s native integration of Excel can’t be overlooked.
Overall, the influential toolset of Power BI will be easy to lift for MS Excel users, enabling you to empower in-hand organizational expertise and ease into Power BI quicker.
6. It Brings Data Governance and Security Together
Power BI allows you to deal with security and user access and security within the same interface, eliminating the requirement of using other tools to make sure you meet strict compliance and regulatory standards.
This service also encompasses Azure Active Directory (AAD) built-in for user authentication, letting you empower Single Sign-On (SSO), along with your general Power BI login credentials to access your data.
7. You can Ask Queries and Get Answers about Your Data
Power BI includes natural language search interfaces to enable users to generate visualizations and determine insights using search terms in simple English, without requiring any code or syntax.
Using the Q&A functionality, you can discover more specific insights by double-clicking an empty part of your report image and using the ‘Ask a Question’ section to ask data-specific queries.
The mobile Power BI applications also support a voice recognition system for Q&A, enabling you to ask for information on the go.
At first, it may sound like a gimmick, however, the Power BI’s natural language query engine is very spontaneous and works enormously well. And with regular updates from Microsoft, it can only evolve and become more precise with time.
8. You can Embed Power BI Tiles In your Custom PowerApps
Do you utilize PowerApps? If so, you can make use of Power BI custom visuals to insert your Power BI tiles within your app.
If you are not familiar with PowerApps, it is a powerful enterprise tool used to produce business apps that perform on approximately all Web browsers and operating systems such as; Android, iOS, and Windows. It is an easy interface that doesn’t need coding experience, resembling usage to Power BI.
Having native integration between these services means it is even easier to share important insights with employees using your internal custom apps without requiring any access to Power BI itself. End-users can furthermore dig deeper into the data just by clicking on the fixed Power BI tile to be shifted to its dashboard if it is public.
9. A leader in Magic Quadrant of Gartner for Analytics and Business Intelligence
Power BI has always been on the top of the list in aspects of analytics and business intelligence. It has always been recognized as a leader in Gartner’s Magic Quadrant for Analytics and Business Intelligence Platforms and is known as one of the leading data analytics software solutions for many consecutive years next to other popular competitors.
10. It Helps to Find Past Trends, Current Performance and Future Predictions
Advanced data modeling has made it possible to find out trends and predict future results comparatively correctly with modern-day software. Power BI is one such tool that offers great predictive analytics and predicting features to discover dependable future outcomes.
Using the analytics and predicting tools in the Power BI desktop, you can perform and evaluate different ‘What If’ circumstances on your information, such as financial predictions or industry-specific development markets by attaching a forecast to your line chart, all without any clear coding requirements.
It uses integral predictive forecasting models to automatically distinguish seasonality and upcoming reporting periods, such as a week, month, or year and presents forecasting results. These models gain knowledge from historical data using numerical algorithms to obtain possible results and showcase them in a helpful manner with a graphical presentation.
Why Should You Use Power BI?
Power BI is a popular Business intelligence application that empowers you to evaluate your data and make your company proficient. It provides you the tools essential for better strategic analysis of how you can merge your data streams, progress accessibility, and leverage smarter insights.
It is not difficult to understand why Power BI is rising in popularity among businesses looking for better insights, intuitive dashboards, and competent reporting. So, this is the time to leverage this amazing BI tool and its existing services, which can help you to get ready for a successful Power BI adoption and make your data insights better within your organization.
Make your business fly higher by joining the trend and utilizing the required Business Intelligence within your organization. If you want to deploy this popular tool, you will require the right guidance of Microsoft Power BI Consulting experts to implement, manage and maintain this useful tool.ExistBI has experienced Power BI consultants in the United States, United Kingdom, and Europe, contact us today to find out more.