Why is it worth to implement the Power BI system in 2019?
December is a time of reflection, summaries and setting goals for the coming new year. These issues are particularly important for enterprises that plan to spread their wings in 2019 - enter the new markets, expand the range of services and, of course, increase the profitability of their operations. What can you do to make your goals become facts in 2019? It's worth analyzing data!
BI yesterday and today
Only a few years ago, having “raw data” and presenting them with bar charts or pie charts was commonly used in data analysis. With the development of new technologies, business intelligence, and artificial intelligence, data analysis was directed to a completely new path. Dynamic visualization of data in real-time sets trends and helps in making the right business decisions. This direction will undoubtedly develop and gain a wider and wider group of fans. Why?
Modern data analysis systems, such as Power BI, allow aggregation of data from multiple sources in one place. Thanks to this, the entire team working on their analysis has a constant insight into what is happening in the company. The sales department knows how many products, from which categories, when and in which region were sold, the marketing department is able to estimate which promotion channel generates the largest number of leads, and at the same time managers are able to estimate the company's earnings for the next quarter. Does it sound interesting? Let's move on to further considerations.
Why should your company also implement a Power BI system?
Making better business decisions
Every entrepreneur needs hard data, based on which he can make the right business decisions. The company's development and its profitability depend on it. The more data you submit to effective analysis, the more likely it is that the goals set for 2019 will be met. Power BI makes data analysis intuitive and feasible for almost every employee of the company, not just a business analyst.
Accurate business decisions generate higher profits. If your sales department knows which products in the near future will be more in demand, and the marketing department will prepare support in the form of a cost-optimized promotional campaign, then success is guaranteed. The better you prepare for planning the strategy for the next year and the better you analyze your company's data, the fewer mistakes you make and the more profit you will make. The Power BI system fulfils these functions. All you need is proper data aggregation, analysis and visualization to draw conclusions that will contribute to the monetization of New Year's goals.
Leave your competition behind
Constant data analysis means that you know exactly in what condition your company is. While in stable markets we do not have to be afraid of great fluctuations in the economic situation, in dynamic markets, whose condition depends on many factors, correct data analysis helps in discovering niches and market trends. Such knowledge gives you an advantage over the competition and definitely increases the chances of becoming the market leader in 2019.