Thursday, March 4, 2021

Top Five Business Benefits to Start Using Microsoft Power BI

Nowadays, businesses need to deal with a gigantic amount of data, and that is applicable to the entities hailing from various sectors. This is essential for understanding customer requirements, analyzing the rival brand developments, assessing shifting market trends etc. However, it is also necessary that the businesses deploy the apt type of software applications for data analytics and reporting. The good thing is that you can now pick from various applications tailor-made for data visualization and analytics, and Microsoft Power BI is a strong contender. That explains why the demand for power bi consultants is growing with time.

Getting the basics of Power BI clear

Before analyzing why Microsoft Power BI is ideal for your business and paying the licensing fee, you need to know about the solution. It is a suite of tools meant for comprehensive data visualization, reporting and business intelligence. With this tool, you can convert raw data into visualizations through intuitive dashboards. So, you are able to analyze your data better, mark the patterns and trends. Eventually, you obtain useful insights and make practical business decisions. You can choose to use either Power BI Desktop for free or opt for the paid version, called Power BI Pro. The enterprise organizations usually opt for the Power BI Premium edition.

Reasons for the businesses to embrace Power BI

Power Bi is a data visualization and BI solution that is useful for businesses of varying types and sizes. To leverage the full benefits of the application, you may hire a skilled Microsoft power bi developer. However, you should know how your businesses can benefit from deploying the tool.

  • Getting insight using data, minus hassles- Any company nowadays needs to deal with mammoth amounts of data. Dealing with so much data manually can be quite exhaustive for the employees, and it can slow down workflow too. By using a BI and data analytics solution like Power BI, this is easily handled. With the tool’s customizable report generation tools and intuitive dashboards, the employees can utilize the data easily and quickly. So, analyzing data is easy when you deploy this tool. You also get useful insights when you use the tool.
  • Getting updated information automatically- Your business needs to stay up to date with data pertaining to market trends and customer preferences etc. In Power BI, getting updated data is automated. Your employees do not need to intervene. Once the application is in place and the link is set up with online services or third-party tools, data flow and dashboard update is automated. The dashboards will get updated in real-time. As the data flows in, the changes will get reflected in the dashboards. So, the employees get updated information and can take apt decisions relevant to the time.
  • Integration with multiple data sources- Your business may obtain data from myriads of sources. These may include social media platforms, cloud services, in house applications etc. Power BI integrates very well with popular Microsoft software and online services like Excel, Azure and Dynamics 365 - to begin with. It also integrates well with several third-party software and cloud services like Google Analytics, Hadoop and Salesforce. You may also link it to SQL Server databases. So, businesses that already deal with multiple data sources and apps will have no compatibility issues after deploying Power BI. Of course, the veteran power bi consulting services can guide you regarding the implementation and picking the right version.
  • Superb Excel Integration- A lot of companies use MS Office suite and notably the component named Excel. It is a popular software used extensively for accounting requirements. So, you need not worry about integration with Excel when you choose Power BI for your company. It is simple to link reports, data models and queries to the Power BI dashboards. Thereafter, creating interactive visualizations will be a cakewalk. 
  • A cost-effective BI and data analytics solution- Compared to many other data analytics and BI solutions, Power BI is quite easy on the wallet. It has many versions, and that makes it useful for businesses of varying sizes. Even if you want it for a growing venture, there will be no problem. You can try out the free desktop edition initially, and later switching to the commercial versions is possible. There is a mobile app, and that makes it ideal for companies with employees located in various regions. 

More reasons to pick Power BI for your business

  • Harnessing the Power of AI and predictive analytics- Power BI is an advanced BI tool that lets you harness the power of predictive analytics. Using the predictive analytics feature, it is easy to obtain actionable insights. The advanced data modelling feature makes tracking past trends and assessing current performance easier. You can even run the ‘What If’ scenarios to figure out future outcomes. This can be helpful in making key business decisions and making strategic moves. 
  • Managing Azure databases better- Does your business already rely on Microsoft cloud services and apps? Then, buying Power BI makes complete sense. Its Azure Activity Log Analytics is there and using it; you can track and utilize the Microsoft cloud environment. It is easier to analyze Azure Activity Log data and generate reports.
  • Security of data- When your business deals with a huge amount of data, and that keeps growing over time, maintaining the security of the data becomes important. After all, you will be making use of sensitive customer data and company information. So, you have to choose a BI tool that comes with robust data security provisions. The nice thing about Power BI is that it has solid security options. By using it, you can reduce the risk of data theft and unauthorized activities in the workplace. 

Summing it up

There is no denying Microsoft Power BI is a feature-laden BI and data analytics tool that can be useful for businesses of varying types. Deploying the tool brings manifold benefits to your company, and you will face minimal hiccups in the process. However, in some situations, you may need to hire power bi services to leverage the full advantage of the tool. 

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