Technology and data are what businesses are relying on today to innovate. Innovate services, solutions, or Processes to have a competitive edge. However, easier said than done as these enterprises are generating Gigabytes of data that is no more feasible to make sense just using the average human intellect. The need for the hour is a tool, preferably a Business Intelligence (BI) tool that can summarize, visualize, and present meaningful data the simplest of forms with real-time insights. Power BI is one of the best and most in use cloud-based Business Intelligence tools available out there in the market for both small businesses as well as medium and large enterprises to support you in the daily business decision making process.
Why Power BI?
Are you lost in bytes of data, not able to make sense out of it? Does your C-Suite require real-time reports to know the past present and future standing of the businesses? Do you wish to dig deep down into the data to have the minutest of details, be it at sales, cost, or operational level? Power BI is a comprehensive Business Intelligence tool being used by thousands of enterprises around the world to have customized and relevant reports in the most beautiful and presentable visuals with the most apt insights for the business.
Features that make Power BI the BI tool you need
1. Economic to use
Power BI is economical to use compared to its competitors with Power BI desktop free and Power BI Pro for as low as $9.99 per month.
2. Range in Data Visualizations
Having Visuals for massive data provides an instant insight into the actual picture of the data. From Colorful charts, tables, donuts, funnels, treemap, maps, filled maps, gauge charts, and many more.
3. Data Sources
Power BI makes it easy for you to fetch data from a range of data sources. It can be from on-premise data or cloud-based, structured, or unstructured. A few of the available data sources are Excel, Power BI Data sets, SQL and MySQL Server, Azure, Access, and XML.
4. Data Filtration
Power BI allows enterprises to drill down and filter data at the minutest of levels. Just click on a graph, and you can have data broken down for you into as many levels as you wish for.5. Customizability
Power BI is highly customizable. One can Customize it as per industry needs, department needs, project, or process need. Users can also customize dashboards and are even printable and shareable.
Power BI reports presenting a complete and structured presentation of data in a variety of ways, reflecting on essential insights from the data. These reports can generate and shared with other users.
7. Natural Language Q & A
This is one of the unique features of Power BI, where a user can ask questions in natural language to search for data and information available in Power BI. Business Intelligence is the new buzz word, not for no reason. BI helps businesses make better decisions for all its functions by leveraging the present and historical data. It not only enables users with better decision-making capabilities but also empowers analysts and project managers in running operations effectively and efficiently.
Power BI being a Business Intelligence tool, helps enterprises make data-driven real-time decisions. As per a study from the Harvard Business Review Analytics Service Survey, data-driven organizations are positioned better to manage the market challenges. Also, it is noteworthy that as per the findings of Forrester Consulting Study, The Economic Impact of Microsoft Azure with Power BI, that Azure Analytics and Power BI, when put together, can reap value to the enterprise by delivering an ROI of 271% over a period for three years.
Among other benefits of Power BI on business has been its real-time insights. According to the Forrester study, the time to ideas has been 27% faster than usual. Power BI improves human productivity by integrating it with loads of other Microsoft tools such as Office 365, Excel, PowerPoint, Microsoft Teams and Share Point greatly enhancing collaboration between users and organizations