What's Power BI?
Power BI is a Microsoft tool, publicly released in July 2015, responding to Business Intelligence needs. Under this name is a business analyst, covering the broadly understood process of processing raw data available in every company into valuable knowledge. Its proper use can increase the competitiveness of companies from many industries and increase the profitability of their operations.
Power BI is a set of services that enables you to transform data from unrelated sources into consistent, interactive and visually appealing analyses, which are then made available to all or selected team members. The broad capabilities of the Business Intelligence class system allow companies to turn large data into valuable business information. With the help of analyses and reports, we can obtain information concerning all areas of the company's activity. The Power BI system facilitates, among other things, cost estimation, sales level calculation, analysis of conducted marketing campaigns, or distribution effectiveness research in a given period. Automated and easy creation of reports increases business efficiency.
During the Power BI development ( which name refers to Business Intelligence), Microsoft team drew a lot from technologies previously developed for Excel. This solution uses mechanisms built for its needs, such as Power Query (total data), Power Pivot (data processing) and Power Map and Power View (data visualization).
One of the key challenges faced by enterprises is data analysis, which allows controlling the processes taking place in the company. Based on the collected information, it is possible to create - efficiently and automatically - reports on business activities. Such stable analyses are the basis for companies to implement innovative solutions and make strategic decisions.
Business Intelligence class tools, headed by Power BI, are very useful in business. They are gaining popularity among many companies, regardless of the scale and industry in which they operate.
Here are some examples:
Power BI in finance and banking:
Customer portfolio analysis: Banks use business intelligence systems to analyse customer behaviour, allowing them to personalise financial offers accurately. This enables them to increase sales of financial products by up to around 10-20%.
Predictive risk analysis: Predicting credit risk based on customers' financial data makes it possible to reduce insolvency by up to 15-20%.
Monitoring market trends: Analysis of economic and financial data makes it possible to track market trends and make rapid investment decisions. Decision support systems are reliable in this role.
Retail business intelligence systems:
Sales analysis: Retail companies can use Power BI to analyse sales data, which helps to identify purchasing trends and optimise assortment.
Demand forecasting: With advanced predictive models, it is possible to forecast product demand, enabling better inventory management and avoiding overstocking.
Use of the business intelligence system in the manufacturing industry:
Monitoring machine performance: Power BI allows continuous monitoring of the operation of production machines and equipment, which can reduce downtime by 20-30%.
Quality management: Data analysis allows for rapidly detecting product quality problems and preventing defects at the production stage.
Business intelligence systems in healthcare:
Patient data analysis: Power BI enables medical data analysis, improving patient diagnosis and treatment and reducing healthcare costs.
Prevention: By analysing epidemiological data and patient behaviour, it is possible to anticipate increased periods of illness and take preventative measures.
Microsoft Power BI capabilities
- Comparison of data from different sources - Excel spreadsheets, ERP and CRM systems, e-mail marketing systems, social media, streaming data, cloud services and many others.
- Data presentation on a single dashboard - easy to view data with customizable views. Most importantly, this data is available on both desktops and mobile devices.
- Preparation of interactive reports - efficient creation of readable reports with an attractive graphic design. Prepared reports are immediately visible to team members, which facilitates work.
The intuitive Power BI interface, working on a drag-and-drop principle, makes data processing and report creation extremely easy even for people with little technical knowledge.
Power BI - implementation with the help of EBIS experts
Are you looking for a modern tool for comprehensive data analysis and visualization? Choose Power BI! With its help, you will get a constant insight into the data from which you will draw valuable business information. Thanks to this, your company will be able to stay ahead of the competition, achieve its goals and develop efficiently.
At EBIS, we are entirely familiar with Power BI system, thanks to which we adjust its parameters to individual needs and expectations of our clients. Contact us for a dedicated proposal of implementation: