We are living in the data-driven business world. Data is the lifeblood of every business that is embracing digitalization rapidly. In fact, data collection is one of the most effective tools for decision making that has emerged in the last decade and continues to be relevant. Data analytics is playing a great role in assisting managers in making effective decisions to maximize ROI. For this reason, many companies and organizations consider employing software like PowerBI to convert large sets of raw data into valuable information.
PowerBI is a set of services that assists individuals with collecting, organizing, and analyzing data. Unlike complex data analytics software, PowerBI provides a user-friendly interface to users. The software allows users to connect different information sources and convert them into visually compelling charts and graphs that are easy to read. Business owners can align the software for data analytics and running reports and make effective business decisions.
If you’re unfamiliar with PowerBI or are considering using it, here are a few things you should know before diving in headfirst.
What is PowerBI?
PowerBI is a versatile and collective source of cloud tools that help businesses with data management tasks. These tasks may include collecting, gathering, and analyzing the data to make it useful for managers. The software converts raw and complex data into more useful informational reports. These reports help managers gather insights into company operations to make decisions for long-term efficiency and profitability.
PowerBI achieves all of this by collecting specific data and using machine learning to generate facts and reports in the form of charts and graphs to give more interactive insights. So what makes PowerBI such a vital tool?
Saves Time and Resources
Every business struggles to conserve its resources and spare some time while ensuring productivity. In order to convert huge volumes of raw data into perceivable information, someone needs to spend a lot of time analyzing the data and generating reports. However, this repetitive task becomes a lot easier by using PowerBI services. PowerBI enables businesses to employ the use of power queries to retrieve the data and use it instantly.
Moreover, the software is extremely versatile and user-friendly and can be used by almost anyone within a company. It does not require a dedicated resource to use. All you need to do is connect your database with PowerBI and automate report generation. You can use PowerBI consultancy to quickly filter out the sophisticated data and store them in separate directories. In short, the software spares the energy and time to haul complex data out of the server and molding it into the informational reports.
Data sharing and accessibility is often a matter of great concern within organizations, primarily due to security reasons. However, PowerBI offers a secure, centralized dashboard accessible and sharable by anyone who has permission within a company. Users can publish reports on the software’s dashboard, which can be later accessed by employees from anywhere, anytime. The automation from the software can save a considerable amount of time when retrieving and pulling data into the software.
Cost-Effective Data Solution
Apart from sharing capabilities, organizations also look for cost-effective data solutions. Some companies often avoid considering business intelligence tools because they are expensive to procure, train, and run. However, PowerBI is free to get started on. It offers free 1GB of data per month to businesses with limited storage requirements. However, if you need more storage, you can upgrade your plan depending on your business needs. And since it is incredibly user-friendly, the software does not require hiring a dedicated resource to use it. Anyone at any level in an organization can use it.
Easier Analytics Process
Generating reports with business intelligence software can be a tad bit tricky if you don’t know how to go about them. It involves a lot of considerations to make things right. For this reason, business owners seek automation tools to generate reports from the data available in the database. The software comes with an integrated power query functionality that assists in gathering the selected data.
The machine learning capabilities of the software enables individuals to prepare analytic reports with highly accurate predictions. It can also create data charts and visual diagrams for making the information more perceivable. This way, companies can maximize productivity by using up-to-the-minute updated analytics.
The cloud-based nature of the software enables extensive collaboration throughout the company. Whether you are looking for asset maintenance or sales analytics, PowerBI eliminates outdated inter-departmental data-sharing practices, and replaces them with more advanced analytics systems. This also includes the added feature of accessibility from web-browsers and mobile apps anywhere, anytime. As a result, decision-making can easily become a collaborative effort across various organizational departments and functions for increased efficiency and profitability.
Although PowerBI tends to be a remit of data management and analytics, it also offers high customizability. The software has unique and attractive visualization options to make the dashboard more engaging and fun. The software creators have even given open source creators the option to create their own data visualization interface.
Data is the new oil in this technologically advanced world. A large number of individuals face challenges while running data analytics software for enhanced decision-making. PowerBI, on the other hand, is a highly cost-effective, interactive, and user-friendly solution that generates quality results. If you want to be a better data scientist or business decision-maker in the future, this is the right software for you.