When we gauge value in terms of businesses, we usually think of physical assets such as properties, inventories, machinery, and human resources. Over the past decade, however, a shift has been observed in what businesses consider their most valuable assets due to the advancement in technology. Nowadays, the information generated through data collection is the most valuable asset, and tools that help analyze them, such as Microsoft Power BI, are very much in demand.
But why do businesses think that the information they gather is very important? To the most progressive companies, information gathered about their customers when they visit the company’s website such as the most looked at the item, the most preferred colour of an item, how long a customer stayed at the website, and even the location of the customer. Businesses would then use the information they collected, analyze it, make sense of it, and make the right decisions.
How do businesses analyze all the information gathered and make them useful, especially when a lot of data is collected? That is where business solutions in software and platforms such as Microsoft Power BI come in. This software can analyze, integrate, and convert these data into useful information. The company can then use the analyzed information to create advertising campaigns that can help boost businesses, produce more products that are in demand, or improve marketing strategies.
There are various software and platforms in the market that businesses can choose from depending on their exact need and budget. So why should a business choose Microsoft Power BI over the other ones that promise the same outcome? First, let us look at some facts you probably didn’t know about it.
It is a Self Service Business Intelligence
When a company gathers data and then analyzes it, what comes next is presenting it in an easily digestible form. Microsoft Power BI gathers all this data and helps anyone from the company to be able to make stunning visual reports and not be stuck with just numbers. Anyone who has access to these reports can also interact with these reports, clicking on different parts of the report to gain better insights to make the right decisions.
It Has Multiple Connections With Different Data Warehouses
Microsoft Power BI can pull in data from multiple sources such as SAP, Oracle, an Excel file, or even websites. These sources will analyze the data and create insights that can be readily accessible by anyone within your organization.
It Has Multiple Components That Makes Analyzing The Data Easy
Making reports always means sorting through hundreds and even thousands of data, cleaning it up to get rid of unwanted data, and making it presentable and easily understood. Microsoft Power BI is equipped with the Query Editor that helps clean up the data and transform it. This feature saves time because it remembers the steps you did to clean up past data, and it will do the same steps to newly collected data.
It Has Interactive Visualization
As we know now, Microsoft Power BI assists you in making reports and dashboards after analyzing the data that it has pulled from all your connections. The beauty of using this platform is that the visualizations are interactive. Anyone from within your organization can pull out any reports made and manipulate them from different devices.
It Uses Artificial Intelligence
Making reports has become easy with the help of Microsoft Power BI because it will analyze the data for you. It will also produce a variety of graphs you can choose from, so you no longer have to make them manually. It saves your company time and will also be cost-effective, as it will take fewer people to work on these reports, and you get insights quickly than when done manually.
The best part about Microsoft Power BI is that it is entirely free to download on your desktop. So you can choose to go Pro eventually if your company is a large-scale one. There is also no need for one to be tech-savvy to use and understand the platform. As long as you have a basic understanding of Excel, you are good to go.