March 1, 2020
POWER BI REPORT
Automated report tailored to your business’s needs. You no longer need to track your KPI’s through files, databases and online services, with Power BI all your data lives in one place. Reports are interactive and refreshed in real time, providing an instant overview.
NEXT GENERATION REPORTS: POWER BI
Power BI brought a revolution to reporting. It enables us to automate data processing and follow our business in real time. Business analysts no longer need to spend time gathering and cleaning data, they can now focus on providing valuable insights. Let’s look at some key features.
Power BI reports are interactive. Visualizations can be drilled down to reveal all the details, or merged into bigger aggregates. Data can be observed for different time periods, products and locations. We can ask questions and draw plots using simple keywords in Q&A tool.
Data anytime, anywhere, on any device
Reports are refreshed in real time and are always up to date, providing an instant overview. They can be viewed on any device and browser. They can be shared with entire organisation or selected team members. Users can create their own Dashboards from selected report elements.
Connect to any data source or service
Power BI can connect to more than 60 sources of data, from databases to files and online services. We no longer need to track our data through various sources and services, Power BI enables us to import, process and track all data in one place.
Best of the best
Data in Power BI truly serves its purpose: faster and better decision making. As confirmed by Gartner Magic Quadrant for Analytics and Business Intelligence Platforms, Power BI is the first choice among business solutions on the market.
IBCS or International Business Communication Standards is a standard that provides guidelines for cohesive look of all report elements like charts, tables, schemes, labels etc. More on IBCS standard can be found in the International Business Communication Standards article. Our reports use Zebra BI visualizations, which follow all IBCS rules.
Without and with IBCS standard.
FORECASTING AND MACHINE LEARNING
Using advanced algorithms for forecasting and faster data processing will be crucial in the future. Power BI enables and supports the use of artificial intelligence tools in every phase of a reporting solution.
Descriptive analytics is analysis of the past. Analyzing past data we can understand what happened and why and what were the key factors. Descriptive analytics usually means simply aggregating data, for example looking at sums or medians.
Predictive analytics is used for forecasting the future. Using statistical models we predict the most likely scenario. Success of the model can strongly depend on complexity of the model. Simple models are often not successful, since they don’t include all the relevant factors.
Prescriptive analytics is analysis in reverse. Here we set the goal and then outline the steps for achieving the set goal. It comes in at the and: first we use the descriptive analytics to explain the past behavior, then predictive analytics to predict the most likely scenario and at last prescriptive analytics to set the path for achieving our goal.
Machine learning is used to find patterns and connections in past data. We use the learned connections to forecast future behavior. Famous example of machine learning use is an online shopping cart, that suggests other products based on products already in the cart.