Each business market is different, and it has its own complications and challenges. Their customers are of various in nature with clearly defined budgets, plans, and objectives. Hence, businesses adopt different selling & marketing methods to offer different services and products. In any business, systems produce a wide variety of data in the size of terabytes, petabytes or sometimes exabytes. Businesses analyze this data and create actionable information (choices) and the entire process is called Business Intelligence (BI). It is very apparent that the company’s success relies on these decisions that derive from business intelligence.
BI is an ever-growing technology overwhelming all businesses over the world. BI services are very much successful in ensuring a customized experience to the customers. These services are widely diversified and businesses are taking advantage of this technology. One such technology is Power BI which helps to make complex business decisions.
Why Power BI?
Power BI is a new cloud-based Business Intelligence service provided by Microsoft. It is derived from its long periods of experience in relational databases like Access, SQL server and so forth. This is a business intelligence platform that permits organizations to clean and totally completely transform data into meaningful data. It altogether analyzes data and shares powerful insights. Microsoft is positioned in the leaders’ quadrant in the Gartner Magic Quadrant for Analytics and Business Intelligence Platforms 2018 edition. And this makes it the top player in the market. According to the Gartner Magic Quadrant, Power BI is considered as a go-to platform based on its vision of fulfillment and ability to execute business intelligence solutions.
Below are the top 6 reasons why Power BI is best BI Platform currently in the market.
Reasons to use use Power BI As Business Intelligence Solution-
1. Ease of Use-
Power BI has simple and easy to use interface. No programming experience is required to use Power BI. It has inbuilt intelligence which assists you to choose attributes for your reports by suggesting the best reporting element.
Example: After choosing a right data source, when you opt for sales and category, it will automatically identify the column chart for you. Also, if you select sales and location, it will automatically identify the map chart. It has a simple user interface (UI) to connect with the data source. After choosing a data source, it allows selection of attributes by a simple drag and drop for your reports.
Among other features, QA is the place where you can write a question and Power BI will return a result with value or graph depending on the question. For example “What was the current year’s revenue by month” produces a chart for you displaying a month-wise revenue. The marketplace that comes with it gives a great deal of reporting capabilities.
2. It’s easy to connect your data together-
Power BI makes it more simple to bring your data together into one place, for greater accessibility, organization and visibility in your reporting efforts. The tool currently supports up to 70+ connectors out-of-the-box, letting businesses load data from a wide range of highly used cloud-based sources, for example, (Azure Data Warehouse), DropBox, Google Analytics, OneDrive and SalesForce, Excel spreadsheets, CSV documents and data located on-premises, for example, SQL Database.
With these in-built connectors, you can load pre-built Power BI dashboards in seconds and perform incredible data analysis within a few minutes – and you can always customize elements further to your liking, or have your data experts start from scratch by importing your datasets and building up your own dashboard and reports. This BI solution’s drag-and-drop interface also implies you don’t need to code or copy and paste anything to get started. And Power BI can combine multiple files, (for example, Excel spreadsheets) and let you analyse the merged data in one report.
3. It’s powerful and performant-
Power BI’s Power Pivot data modeling engine(which is shared with Excel) is a profoundly performant columnar database, using modern tabular database technologies to compress databases and ensure they load completely into memory for the most ideal performance. It’s normal for your Power BI Workbook (.PBIX file to be essentially smaller than your original data sets – in fact, 1GB databases are typically compressed down to around 50 – 200MB in size. While in comparison Excel starts to slow down when managing huge models, Power BI is optimized to manage tables of more than 100 million records gracefully. It also implements automated, incremental refreshes, ensuring data is always up to date, a priceless advantage that further streamlines visual reporting for end-users. To put it plainly, Power BI proficiently consolidates and loads millions of records into memory, allowing a faster and snappier data analysis experience for end-users.
4. It has custom, open-sources visuals-
Power BI accompanies a huge amount of pre-packed standard data visuals to use in your interactive reports, for example, bar, column, line, map, matrix, pie charts, scatter, table and waterfall – each with their own variety of customisation options for enhanced presentation and functionality. However, for that additional touch, you can also use free custom visuals made by developers (or in-house) and shared with the Power BI community to represent your data such that it tells your data story the best.
With custom visual files available from both Microsoft and the community over at the AppSource Marketplace, there’s an amazing scope of rich and complex visuals to exploit, including bullet graphs, correlation plots, decision trees, heatmaps, sparklines and so on. If you need to present your data in a quite specific manner, this BI solution makes it simple to make your own visuals instead of being left with the usual. It’s also incredibly helpful to see and use what the broader Power BI community is using to advance your own design strategies.
5. Enable more advanced analytics with familiar Excel features-
Advanced Excel users who are educated in Data Analysis Expressions (DAX) recipe language can dive further into their data and discover patterns simpler with Power BI with its familiar Power Pivot features like clustering, forecasting, grouping and quick measures. The embedded self-service Power Query tool will also be familiar to Excel users, making it simple to ingest, transform, integrate and enhance business data in Power BI from the get-go.
One other understated advantage is Power BI flawlessly integrates with Excel, discrediting the need to export files; simply click on ‘Analysis in Excel’ and Power BI presents an interface almost identical to Excel. If you’ve had issues getting your business users to a new tool, Power BI’s native integration of Excel can’t be ignored. In summary, Power BI’s powerful toolset will be easy to pick up for MS Excel users, allowing you to use existing organisational expertise and ease into Power BI faster.
6. It brings together data governance and security-
Power BI lets you manage security and user access and security within the same interface, removing the need to use different tools to ensure you meet stringent compliance and regulatory standards. The service also has Azure Active Directory (AAD) built-in for user authentication, allowing you to use Single Sign-On (SSO), along with your regular Power BI login credentials to access your data.
7. You can ask questions and get answers about your data-
Power BI includes a natural language search interface to allow users to create visualisations and discover insights using search terms in plain English, without the requirement for code or syntax. Using the Q&A feature, you can explore more specific insights by double clicking an empty part of your report canvas and using the ‘Ask a question’ box to ask data specific questions like “what were the sales for [region] by quarter”.
As you type, Power BI automatically lists related meaningful queries, and a preview of a chart or table visualisation that best represents the data you’re looking for. The mobile Power BI applications also now support voice recognition Q&A, making it conceivable to ask for information on-the-go. It may all seem like a gimmick at first, however in action Power BI’s natural language query engine is very intuitive and works amazingly well – and with constant updates from Microsoft, it can just get better and more accurate with time.
8. You can embed Power BI tiles into your custom PowerApps apps-
Do you use PowerApps? If so, you can use the Power BI custom visual to embed your Power BI tiles inside your application. It’s native integration with PowerApps allows you to send contextual data to your PowerApps application that updates in real-time as you make changes to your Power BI report, letting your end-users access live data insights while using your in-house developed custom applications within the same interface. In case you’re new, PowerApps is an amazing enterprise tool used to make business applications that run on almost all Web browsers and operating systems – Android, iOS and Windows – with a simplified interface that doesn’t require coding experience, similar in usability to Power BI.
With native integration between the services, this implies it’s significantly simpler to share key insights staff using your in-house custom applications without needing access to Power BI itself. End-users can also dig deeper into the data simply by clicking (or tapping, if on mobile) on the embedded Power BI tile to be taken to its dashboard, if public.
Solace has been working with our clients to formulate seamless BI solutions based on Power-BI and Cloud Analytics among a few. In case you are in doubt on the right BI tool for your organization and are looking for an implementation partner, feel free to connect with us. We have dedicated experts to help you. We will be happy to help you.