Power BI (Business Intelligence) is developed by Microsoft and is part of the Microsoft Power platform. Power BI is a collection of interactive services, apps, and connectors. This integrated system helps businesses with the data analytics process.
Power BI helps collect unstructured data from various sources. It then arranges and displays it in a structured manner. For example, graphs and pie charts. All the data is presented on a unified dashboard. The tools can be integrated into different platforms. They enhance various operations like finance, HR, operations, marketing, and sales among others.
Power BI has been leveraged by many businesses across various domains. It has helped them improve collaboration and streamline operations.
Here is a look at the top ten benefits of integrating Power BI into business applications.
Power BI tools are easy to install and integrate with your existing business applications. Further, the integration is not limited to Microsoft apps and services. Rather, Power BI enables us to connect to hundreds of data sources and apps. These can be on-premise or in the cloud.
Software like Microsoft Excel, Salesforce, and Google Analytics can be integrated with Power BI. Similarly, social networks and IoT devices can also be connected with Power BI easily. There is no complicated setup involved.
Like easy installation, Microsoft Power BI tools are easy to learn and master. Even if an individual has no prior technical experience with Power BI, they can get started by attending a Power BI training course. In a nutshell, Power BI has a short learning curve.
From a business owner’s perspective, this is helpful as they won’t need to spend a lot of money on employee training. They also lose productivity hours that would be otherwise spent on a long training course.
Power BI integration and data sourcing are not exclusive to Microsoft systems. As mentioned earlier, it can be integrated with a large number of software, applications, and services. Unstructured data spread across many sources can be combined and presented in a visual, structured manner with Power BI.
Moreover, the data is presented in the form of live, interactive visuals. This means that businesses have access to real-time data and can stay on top of their game with real-time data access.
Power BI enables an integrated and simplified dashboard. All the data collected from various sources, on-premise and cloud, are presented in a structured, simplified manner in one place. Data can be easily understood and quick actions can be taken based on the analysis.
Moreover, the dashboards can also be customized to meet the exact needs of a particular team or the whole organization. Finally, the dashboards can be shared with other people in the organization.
Power BI tools can be accessed on various platforms, from smartphones to desktops and laptops. This enables the various parties involved to stay connected remotely through a device of their choice.
Real-time data refresh and updates ensure that you can take action on an accessible, nearby device. Trust us, Power BI is one of the most promising business intelligence tools to have in today’s day and age where data keeps changing in an instant.
Simplified dashboard, easy integration, simplified data collation, and cross-platform support. This leads to improved collaboration when using Power BI tools. Different team members can work on a device of their choice.
Similarly, the tools can be integrated with many apps and can interact with the data in a visual format right from the team’s site.
This has become more important in today’s time. Teams are spread across various locations. Similarly, COVID has led to remote working which has made collaboration difficult.
With Power BI, you have more time to focus on the team’s priorities. You can develop business growth strategies and make informed decisions rather than searching for files or reports.
Having access to real-time data means users and decision-makers can take quick actions in reaction to business needs.
For example, businesses can switch to a website design preferred by users by analyzing the data collected through Power BI for their A/B testing.
They can make quick decisions about other business operations through the real-time data available with Power BI tools.
Power BI is affordable and inexpensive to use. It has minimal upfront costs. The Power BI Pro version costs only $9.99 per user/month.
The premium version costs $20 per user/month. This cost is insignificant to the returns, tangible and intangible, delivered.
Next, businesses can take quick actions based on the real-time data delivered on Power BI dashboards. This again helps businesses save money. They are more responsive to their business needs with Power BI.
Businesses don’t have to spend tons of money on training their employees to learn Power BI. The tool is pretty straightforward to use and requires the least training to learn it.
Microsoft provides continuous, monthly updates to Power BI. The updates add new features and bring stability improvements. Most of the updates and features are tuned to community suggestions and requests. This helps improve the software, fine-tune it as per the end-users requirements. This results in improved business productivity and output for every Power BI user.
Using Power BI lets you take advantage of Microsoft’s advanced AI and machine learning capabilities. Users can access image recognition and text analytics. Power BI also integrates with Azure Machine Learning. This helps to find insights from structured and unstructured data from a variety of sources.
Microsoft’s Power BI brings a host of benefits to businesses. They can fine-tune their strategies using actionable data and industry-specific trends provided in a simplistic manner by Power BI. If you are looking to invest in a BI tool, then Power BI should be the first and only choice. So, when are you making the switch to Power BI?
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