When assessing the worth of a company, we focus on its physical assets, such as buildings, inventory, equipment, and employees. However, as technology has advanced over the last decade, we’ve seen a shift in what companies consider their most important assets. Microsoft Power BI is a tool for analyzing data, and it is in high demand because of the wealth of information it can provide.
But why do corporations place so much importance on the information they collect? A customer’s location, the items they look at the most, and the length of time they spend on a company’s website are all information that may be gleaned from their visits to the company’s website. The acquired data would then be put to good use by businesses, who would study it, decipher it, and use it to their advantage.
It is difficult for businesses to make sense of all the data they collect, especially when there is a lot of it. That’s where tools like Microsoft Power BI, a business intelligence platform, come in. Using this software, you’ll be able to take raw data and turn it into actionable knowledge. Advertising campaigns that enhance sales, increase production of in-demand items or improve marketing methods may all be derived from the examined data.
Businesses may pick from a wide range of software and platforms to meet their specific needs and budget. So, what makes Microsoft Power BI better than the competition when it comes to achieving the same goals? Here are some things you may not have known about it.
#1: Self-service BI Platform
When a corporation obtains and analyses data, the next step is to display it in a way that is clear to the public. With the help of Microsoft Power BI, everyone in the business can create attractive reports, rather than being limited to simple statistics. As a result of this interactive nature, anybody who has access to this information may also use it to make better judgments by clicking on different sections of it.
#2: Multiple Connections to Several Data Warehouses
SAP, Oracle, Excel files, and even websites may be pulled into Microsoft Power BI. As a result of the analysis done by these sources, your company’s employees will have quick and easy access to valuable information.
#3: Many Elements To Analyze The Data
Creating reports always entails sifting through hundreds or even thousands of pieces of data, removing any irrelevant information, and putting everything in a way that can be seen and understood by the intended audience. The Query Editor in Microsoft Power BI may be used to clean up and manipulate data. Time is saved by using this feature since it remembers and repeats the actions you took before to clear up data.
#4: Interactive Thought
We know that Microsoft Power BI helps you create reports and dashboards using the data it has gathered from all of your connections and has been analyzing. The interactive nature of the visualizations is one of the platform’s many appealing features. Anyone in your company may access and edit any reports that have been generated and can do so from a variety of devices.
#5: Artificial Intelligence
Microsoft Power BI makes it simple to create reports since it does the data analysis for you. There’s no need to do it by hand anymore because it generates a range of graphs from which to pick. It will save your firm money and time, as fewer employees will have to work on these reports, and you will be able to gain insights faster than if they were done manually.
Using Microsoft Power BI on your PC is free, which is the nicest part. So, if your business grows to a certain size, you may have the option of going pro. The platform doesn’t necessitate that you be a technology expert to utilize and comprehend it. Having a basic grasp of Excel is all that is required.