Does Microsoft Power BI change the way the analytical industry operates?

Aggregation and analysis of data are factors that provide very high value for enterprises. Thanks to them, it is possible to reduce company expenses by optimizing operating costs (49.2%), as well as creating new innovation paths (44.3%) or further product development (36.1%). What's more, as many as 69.4% of respondents confirmed that market trends and opportunities offered by new technologies encouraged them to create an organizational culture based on data analysis. The results of this study are not surprising. Big Data, data analysis, AI, machine learning - all these issues are the future of enterprises that want to gain a competitive advantage in the market. How can you use this potential in your company?

Data based decisions – why are they so important?

Contemporary business analytics is based on historical data and on predicting market trends on their basis. Without proper aggregation and correct analysis of the data that every company receives every day, it is very difficult to make the right decisions. These, in turn, transform into financial profits. The circle closes.

Although it seems to be a very simple process, when exploring the subject, it turns out that the financial and human resources needed to conduct proper analysis are enormous. And here comes the solution – Microsoft – Power BI.

How does Power BI support the functioning of the analytical industry?

Power BI is a system that offers a comprehensive set of analytical tools that provide information for the entire organization – it combines many data sources, simplifies their preparation, analysis, and presentation.

The solutions offered by Power BI provide:

• Comparison of data from various sources – external and internal resources of the company, including ERP, financial and accounting systems, Excel spreadsheets, e-mail marketing systems, social media, streaming data or services available in the cloud.

• Permanent access to data – Power BI is a system that can be used by everyone in the company, anytime and anywhere in the world. It allows access to all necessary business data from one dashboard, in the version for computers and mobile devices.

• Consistent data analysis – sales and marketing, research and development, supply chain management – including distribution, personnel management, IT, management board – each of these departments make many decisions every day and relies on a huge amount of data. Power BI provides a 360-degree view of data for business users, and their transparent visualization facilitates the analysis. Think about the benefits this can bring to your company.

• Development of reports in an interactive form – Power BI is a tool based on the natural language of queries. This functionality makes the work much easier. What’s more, the creation of transparent reports, with an interesting graphic design, takes little time, and they are immediately available for the entire company.

Such a wide range of possibilities makes Microsoft Power BI reliable support for the analytical industry. The ability to use data collected by enterprises is the key to make informed business decisions, increase competitiveness and achieve the market advantage. Remember that “you can have data without information, but you cannot have information without data”, as Daniel Keys Moran, a computer programmer, rightly pointed out.