Still haven’t empowered your business with Microsoft Power BI? Hurry up!
Microsoft Power BI is a set of Business Intelligence tools used by organizations to help them gather important data, visualize and analyze it to form creative and understandable reports for decision-making. Power BI is an easy-to-use, reliable, and cost-effective data analysis tool. With the help of Power BI, you get to see the same data but from a different and more comprehensible perspective. A Harward’s analytics study has depicted that the businesses that indulged in Data Analytics have shown more profitable, exceptional data-driven decision-making and are now dominating the marketplace. Power BI is trusted and used by major brands like P&G, Toyota, T-Mobile, and other 97% of Fortune 500 companies. Here are 5 ways how Microsoft’s Power BI helps empower your business:
1.Data visualization in real-time
Data Visualization is a process of collecting unstructured data, processing it, and presenting it in a readable and understandable manner in the form of interactive graphs and charts. Visualization of data helps in: –
- Easy analysis of data
- Establishing correlations between factors
- Effective and interactive data representation
- Risk analysis and identification of pattern
Power BI helps organizations to visualize real-time data and present it to its user in a more interactive and sophisticated manner. Its compatibility with mobile devices makes the company’s data and information available at your fingertips wherever and whenever required.
- Saves Time – Invest your time in your business operations instead of cleaning the data
It is complicated to share all the raw data from one employee to another in an easy-to-understand form. With Power BI by your side, you can easily share reports amongst your peer with ease and without the fear of data loss which also promotes time conservation. Power BI’s automation enables business users to save an average of 1.75 hours per week. With the aid of Artificial Intelligence, Power BI reduces the time that is required to find answers to the query. It makes it simple to accumulate, analyze and communicate the
information in your organization and doesn’t consume most of your time.
- Ease of use for Business Users
Microsoft’s Power BI is built with many useful and powerful features that help boost your organization’s performance. It has a very similar interface to Microsoft Office which makes it easier to use and operate without any prior training. You may opt from a variety of pre-designed graphics and visuals according to your customer’s data. Its user-friendly interface and interactive dashboard make it flexible to operate. You may even utilize Data Analysis Expression (DAX),
for creating advanced analytics.
- Cost Effective
The prominent component of any organization is the cost incurred. Power BI provides free desktop licensing and its pro variant is accessible at $ 9.99 per month per user as other BI software charges more than $1000 just to grant the license. A Forrester research has shown that the organizations that use Microsoft’s Power BI and Azure have shown a reduction in their Total cost by 25.7% as compared to the business that uses other Business Intelligence tools. Power BI is the most effective and efficient Business Intelligence tool as it advocates for you in cutting down your data analytics cost and investing in your operating activities.
- Faster decision making
Decision-making is a vital and time-sensitive process, as you need collective data insights at a particular instance of time, analyze it and take reliable decisions. Power BI, enables you with business insights in seconds, cutting down the time. According to a study, Time to Insights is 27% faster with the use of Power BI and Azure as they also encourage data analytics efficiency. It enables you to focus more of your attention on your primary business activities rather than just sparing time on data analysis.
We can conclude that in this fiercely competitive marketplace where each business wants to perform better, Power BI empowers your business in many ways and leads your organization to top of the list. Due to its availability in 40 languages, it acquired a customer base of more than 5 million in the first year of launch. Talking about the entire Power BI community, it has expanded to more than one million in the last 7 years, who are estimated to generate 40 petabytes of content every single month. Boost your business performance by keeping a close look at its operations in Power BI.
Akanksha Salve
Marketing Intern
Addend Analytics