June 14, 2020
Power BI – 5 Benefits
Data is the core of modern business, and Excel has traditionally been the go-to tool for all reporting needs. But Excel of today is hardly equipped to handle masses of data we collect. A new tool, Power BI, delivers a complete business solution. With interactive reports and the ability to derive answers fast, it is clear that Power BI provides an Enterprise BI solution that has some advantages versus the regular Excel approach. Let’s take a look at 5 benefits of using Power BI.
Data in real-time
Data comes to life in Power BI. Reports no longer need to be prepared from scratch or refreshed manually, they are live and always up to date. The repetition of preparing and analyzing data is a thing of the past: Power BI remembers the process and automates it for us. Once the data model is set up, it reflects changes in real-time, providing an up to date overview.
Connect to any source or service
Data can be imported from several sources and services. Instead of looking at many different web service reports, we can now pull all the data into Power BI and use it in one single report. While Excel can connect to the few most basic sources, Power BI supports all mainstream sources and services.
View anytime, anywhere, on any device
Once your reports are set up, they can be viewed by selected team members or the entire organization, to ensure everyone is viewing the same numbers. They are refreshed in real-time, easy to share, and can be viewed on the go across all devices and browsers. Users can also pin elements of the report to their dashboards, to create a view of information that’s most relevant to their work.
Power BI’s visualization capabilities take Excel’s capabilities to the next level. Top three features would include: interactive reports where each visual can interact with another, tooltips, which are basically reports within a report and the ability to drill into your data for further details. To top things off, you have Q&A, a google-like tool that can pull and plot data instantly, which user can use explore data by simply typing questions. Or even better, by talking to his phone.
The future of reporting: artificial intelligence
The amount of data companies collect is growing fast, and without incorporating better ways of analysis, we miss out on important insights. Using smart algorithms for forecasting or simply handling large amounts of data faster will be crucial in the future. Power BI service is deeply ingrained with Artificial Intelligence. AI is featured in each of the three phases of building and viewing a Power BI solution.
The future of business intelligence is here: your whole business on a single personalized dashboard. Business analysts no longer need to spend their time gathering and cleaning data. They can now focus on tracking trends and providing valuable insights. Data in Power BI truly serves its purpose: decision making made fast and easy. Power BI is the BI tool that leads the way into a data-driven culture. If you don’t believe us, check out Gartner Magic Quadrant for Analytics and Business Intelligence Platforms.