To become future-ready and agile, it’s essential for any organization to be equipped with the technical acumen of business intelligence and possess sound capabilities for extracting actionable insights from its business data. One of the most effective and popular tools of today for business intelligence is Power BI.
It’s a comprehensive suite of connectors, software services, and apps that function seamlessly to help businesses generate, share, and understand business insights in the most efficient manner. Also known as Power BI online less often than not, Power BI services essentially refer to the Software as a Service or SaaS component of the Power BI package. It’s available either as Power BI Premium or Power BI Pro and hosted on a highly secure and state-of-the-art cloud platform by Microsoft.
In this blog, we shall study about 5 vital advantages of integrating Power BI in your business.
Easy to Understand and Accessible Insights
Power BI services allow you to comprehend and present visual reports as elaborate or as minimal as you may wish. A Power BI consultant (or any end-user for that matter) can right-click a data point and choose the analyze option for quick explanations of reductions or increments in the data charts. The application utilizes sophisticated machine learning algorithms for evaluating the user-selected data and generating an automated smart assessment.
The results can be explored in a window and are characterized by simplistic visualization, such as scatter chart, ribbon chart, waterfall chart, and stacked column chart, along with an insightful explanation emphasizing all the categories that are responsible for the decrease or increase in the data.
Helps Integrate Large Datasets into Just One Dashboard
When it comes to quickly access important information like in a conference, a single dashboard can prove to be of immense help, so to speak.
Power BI services offer the facility of a universal drag-and-drop dashboard that can be used for sharing insights with great ease when you are trying to collaborate across numerous devices and remotely, in particular.
Power KPI showcases your key performance indicators and relevant data in a single dashboard, offering greater user control with respect to visualization appearances and the business principle behind those metrics.
On the contrary, the Power BI Infographic designer utility allows you to create custom pictograms in the form of easy to understand bar charts, lists, and column charts, accompanied by simplified graphics and useful features, such as the option to change the fill percentage and size of your icons. In essence, it’s an incredibly beneficial tool to transform complex information into understandable data with a minimal amount of training required.
Power BI Services Allow You to Monitor and Manage Azure Databases with Increased Accuracy
As the Power BI services can monitor the Azure environment with increased efficiency, they’re optimal for companies that already have cloud solutions in place from Microsoft for data warehousing.
To put things into perspective, Power BI offers a solution template known as Azure Activity Log that you can readily employ for creating insightful reports on the previous three months of your Azure Activity information. So, you’ll be able to identify server failures and consumption patterns along with maintenances and outages in a single dashboard as long as your Azure subscription remains active.
You Can Ask Questions in the Natural Way and Reply with Prompt Answers
Integrated with superior computing capabilities for natural language processing, Power BI services offer a nifty feature called Questions and Answers, and let you type a data-specific query in a human-understandable form, such as “how many total units were purchased the previous year, ” which is responded by informative and quicker visualizations.
If you ensure that the data is well-organized, you’ll be able to receive faster answers and considerably more particular insights with the help of Power BI Q&A when compared to performing a manual query across several dashboards. The answers to your questions are neatly presented and fully visualized for improved understanding. To suffice, always make sure that all your data fields are labeled.
Lets You Research Past Trends, Track Current Performance and also Predict Emerging Patterns
Power BI services come with a wide array of user-friendly tools for analytics and forecasting that you can make good use of for simulating and comparing various what-if test scenarios on the data, such as financial predictions or business-specific growth markets by integrating a forecast with your line chart and sans the need to code explicitly.
Power BI is equipped with predictive forecasting models for automated identification of seasonality and the forthcoming reporting period in terms of years, months, and weeks. It utilizes statistical models based on machine learning or data mining to study historical information and infer probabilistic outcomes. The predictions are presented in the form of graphical visualization for better comprehension of the Power BI consultant or anyone looking at them.
Why should You Seriously Consider Power BI Services for Your Company?
With a cutting-edge business intelligence application like Power BI services, you’ll be able to analyze data better, boost operational efficiency, accumulate increasingly resourceful insights, improve accessibility, and make more informed decisions about data stream consolidations.
If you wish to learn more about how it can benefit your organization, feel free to speak to any of our Power BI consultants.