Benefits offered by modern systems for data analysis like Power BI
Business Intelligence (BI) refers to the tools, technologies, applications and practices used to collect, integrate, analyse and present raw data to help you make accurate business decisions. Business analytics will, therefore, be helpful to:
– analysis of customer behaviours and their purchasing patterns,
– measurement, tracking and forecasting of sales,
– budgeting, planning and financial forecasting,
– tracking the effectiveness of marketing campaigns,
– process optimization.
Tools such as Power BI also help in the ethical observation of competitors’ activities. Thanks to them, we can easily relate our actions to the competitors’ behaviours and on this basis, draw accurate conclusions based on generally available, although usually dispersed data.
Nevertheless, the most significant advantage of implementing a system for data analysis in a company results from something else. Thanks to systems such as Power BI, data analysis becomes extremely intuitive and can be performed even by people without extensive technical knowledge. The data are available 24 hours a day, regardless of the place or device from which we work. It dramatically improves the work of entire teams, and thanks to the ability to share analysis results with individuals and report sharing, each department of the company gains a global understanding of the state of its functioning.
Can smaller companies also use BI tools such as Power BI?
Of course, thanks to SaaS solutions, BI software has reached an affordable level and is available for companies of all sizes. Gone are the days when only large corporations could afford sophisticated systems for data storage and analysis. Today’s tools, such as Microsoft Power BI, from the cost/opportunity ratio, are a very cost-effective solution.
BI solutions as a critical element of modern enterprises
There is no doubt about the benefits of using business intelligence tools – they help reduce costs, save employees’ time and speed up important organizational decisions.
Shortly, this type of software will become one of the essential elements that will influence the process of managing a modern company. Advanced artificial intelligence supported by machine learning will help to draw the right conclusions and predict the future, significantly improving in the development of any company.
If you are interested in implementing Power BI in your company, please contact us. Our consultants will help you choose the optimal solution for your company.
