3 Ways to Use Power BI to Help Maximize Your Bottom Line
This is an original blog I wrote for Aerie Consulting.
Do you wish there was an easier way to share information and analyze data within your company, but you don’t know where to start? Business Intelligence (BI) software has been used by companies for as long as computers have been in the workplace. This technology works to combine and analyze data patterns in your business so you don’t have to waste time staring at the numbers yourself.
Now, thanks to Power BI through Microsoft, you can analyze data, create clear visuals, and develop actionable steps to help your business’s internal communication and external output. Plus, Power BI software currently offers three versions of software, ranging from a free to a low-cost option, making it affordable even for small businesses! Read on to learn three ways your company can benefit from using Power BI today.
Analyze data more efficiently
Through Power BI, you can seamlessly bring data from different servers and databases together in one place. This allows you to analyze information from all over your company and across different software platforms in one place.
The main data sources that are used by Power BI are Excel files, CSV (comma-separated value) files, or Microsoft Cloud-based databases. You can also use Power BI to pull data from third-party tools like Salesforce, Google Analytics, and others. With one click, you can download and integrate Power BI into your company’s business files.
Spot trends and patterns
Power BI is known best for its customizable dashboards and easy-access reports. Because these resources update in real time, your staff can quickly spot patterns and problems in a time-sensitive manner. This is best done through the interactive visuals created by Power BI, where your data is transformed into personalized charts and graphs that help your company more clearly talk about the data you collect daily.
On top of this, part of the Power BI data processing function is that it will help you clean up redundant values or note where missing data might exist in your file sets.
Obtain actionable insights
Power BI is more than a report design technology. Through its specific focus on immediate data integration, your company not only receives accurate information across multiple channels. You can also use Power BI to instantaneously spot opportunities for growth and change. This could include optimizing business spending, cross-departmental operations, or even customer relationships. There is even an option through Power BI to make predictions for your business’s productivity.
Now you can actually use your company’s collected data to make informed decisions that can lead to growth. Imagine how meetings and in-company conversations at your business could positively shift toward a more productive use of time with the easy-access resources of Power BI!