Nowadays, data analysis is a requirement for any company that wants to be competitive, know its customers and make data-driven decisions. In this sense, having access to the data is no longer enough, but it is also fundamental to analyze it and create visualizations that promote its understanding.
Today, there are a large number of tools designed for data analysis and the creation of reports and graphs. Choosing the right tool is extremely important, since not all of them have the same capabilities and, depending on which one we choose, the result will vary. The quality and readability of our visualization will depend on the tool we use and, therefore, it is vital to choose an application that suits our needs.
Bismart is committed to Power BI, a predictive and intelligent system that has the capacity to transform the most complex data into visualizations or reports with attractive designs that promote understanding and legibility.
What is Power BI?
Power BI is a set of cloud-based tools that allow companies to access, analyze and understand data and, therefore, to make data-driven decisions. In fact, Power BI was created as an application designed for business analysis and enables access to data from practically any device. Furthermore, the data is accessible and can be shared by any worker in the company and it is updated in real time.
Power BI includes three programs:
- Power BI Desktop: A free desktop app that allows the transformation and visualization of data, as well as the creation of reports.
- Power BI Service: This online service (SaaS) has similar capabilities to the desktop application, but it also allows the updating of data in real time so that users can check the updated information at any time, as well as publish and share it.
- Power BI Mobile: Power BI also has an application through which reports can be viewed from iOS, Android and Windows mobile devices.
This set of tools includes the usual techniques such as forecasting, adding and quick measurements, as well as more advanced techniques such as DAX formula language that gives absolute control over the model. In addition, it also has artificial intelligence functionalities, with no need for code, so that otherwise inaccessible information can be gathered.
Why choose Microsoft Power BI?
Power BI's main benefit is that it is one of the data visualization platforms that allows the development of better information presentations and designs —whether they are charts, reports or others—, as well as it includes integration capabilities and guarantees the security of the data. In other words, this set of applications enables the development of interactive graphic representations that promote the understanding of the information, that are visually impressive and interesting and can be easily shared. In addition, Power BI allows the personalization of all panels and reports and includes a data security and data governance system that protects the information and facilitates data management and data governance.
Another competitive advantage of Power BI is that it encourages data integration, since it has the capacity to collect data from many sources and in any format -either from a local software or digital platforms-. For example, it has access to both relational and non-relational databases, Excel, CRM, Azure and SQL files, or even web applications such as Google Analytics or Google Ads.
In short, the benefits of Power BI are:
- Connectivity: Power BI has the ability to import data in any format and stored in any data source. In addition, it facilitates the transformation and crossing of data from different sources in a single view.
- Sharing: As an application stored in the cloud, Power BI makes it easy for reports to be shared with employees and with customers. This makes it easier for all departments to be connected and to consult each other's reports, promoting cooperation between different business areas and joint strategies.
- Transversal utility: Another key aspect of this tool is that it is functional and useful for all the departments of a company. The creation of dashboards is adapted to the requirements and needs of each department, and it improves the overall business activity.
- Real-time updating: Data is updated automatically. This way, companies are able to make real-time decisions.
- Price: Power BI Desktop and Power BI Mobile are totally free. Power BI Pro, on the other hand, os a monthly payment tool which also allows to create collaborative spaces, has superior security measures and more storage capacity.
What can Power BI do for my company?
In today's world, data analysis is a competitive advantage for any business and, in fact, it has become a necessity. Having quality data that is well-analyzed, allows companies to discover their strengths, their pain points and inefficiencies, take data-driven decisions, be aware of opportunities and predict future scenarios. In addition, data analysis is fundamental to develop customer-centric strategies and to improve user experiences. In short, it is a practice that must be present in all departments of a company: in the marketing area, in the commercial area, logistics, operations, human resources, etc., to ensure the optimal functioning of the company as a whole.
For all these reasons, Power BI is a key tool, since it is not only capable of analyzing data, but it also achieves models that are not very visible. Also, Power BI facilitates businesses to reach reliable conclusions and, therefore, make better decisions and develop more effective business intelligence strategies.
In Bismart, as a Microsoft Power BI partner, we have experts who have a large experience using this tool. If you want to discover our Power BI solutions you can consult our website.