Microsoft Power BI has completely transformed businesses, especially in the last few years.
Power BI is the first choice of leading business players, whether it’s consolidating critical data for finding new insights for operations growth, finding new markets, or increasing customer retention and engagement.
There are unlimited reasons for choosing Power BI Reporting, but in this post, we discuss the top 5.
1. Automate reporting in your business and generating insights on Auto-Pilot
Businesses are looking for ways to increase efficiencies and remain on top of new trends. While automation is becoming a reality in almost every business division, the biggest impact can be seen in Data.
With Power BI reporting, you can automatically integrate various data sources for your business and generate reports automatically.
For instance, Power BI can be integrated with your ERP that reports the daily progress of products’ production. By creating or choosing templates, managers can get daily, weekly and monthly reports along with interactive data visualizations with the help of Power BI.
These visualizations make it easier for managers to comprehend the progress and identify areas that need improvement. These reports are also full of automatic and custom Business insights.
These insights can identify trends early on and help divert your attention to the areas that will bring the maximum output.
- Pro tip – Make sure to integrate Key Performance Indicators in these reports to identify red and green flags early on. When your organization uses reports regularly, you will be able to identify new KPIs that are more accurate. You will also get to know of factors that can influence these KPIs.
Collaborations on Power BI are easy, and you can easily share everything you create with your team with one click. Commenting, sharing, making changes, additions, and working on other linked software is easy within the same dashboard.
Power BI is also available across all devices, including laptops, tablets, and mobile. You can thereby access and make decisions for your company on your mobile phone alone.
To take accessibility to the next level, you can integrate Power BI with Microsoft Power Automate and automate all the tasks. You can create automated schedules to share individual reports with a specific team member or team.
- Bonus point – Pricing is a significant factor before finalizing on any software. This is another reason to choose Power BI as you don’t have to invest heavily and can use the software with various subscription plans starting at $9.99 per month per user. To test the features, you can also start with the Free plan, which also offers a lot of features.
2. Features including Drag and Drop and Interactions
Power BI has given the ability to make complex interactive reports even to the layman. There are more features than you would possibly require while working on specific tasks.
The Drag and Drop feature allows everyone to use hundreds of features available on your dashboard. Creating charts, tables, custom visualizations, values, and others is a breeze with Power BI. You can also connect all these elements to any of the sources of data.
Interactive options and Reports
Clicking on any element of the Visualizations allows you to access and review the data that powers it. In a Bar chart, you can click on a bar to check the bifurcation of data and significant data points. The same can be done to values or forms of data.
The Refresh Data option in the Pro version also allows you to create dynamic reports in which the data can be refreshed even by the hour. For instance, you can create a Dashboard with hourly, daily, and weekly sales data to identify trends and experiment with new strategies.
3. The ever-growing community and Integrations
It is always best to choose software that enjoys a big active community because of the help you can get from the online community.
You will easily find thousands of templates for Power BI given by members of the online community. Searching for shortcuts, hacks, and new trends is also a breeze.
Integration with other software is always a significant factor as you would want to link other software to Power BI for increased efficiencies and abilities. Most of the new software that gets launched supports Power BI as the software creators would provide integrations with the leading software used by most companies (Power BI).
On the other hand, Microsoft offers integrations with all Microsoft software and hundreds of other software too. Finding solutions to your problems and ways to increase efficiency is always just a YouTube search away!
In total, there are more than 70 connectors, which make integration possible with almost every software. Connecting and importing data from leading software like Azure, Salesforce, Amazon Redshift, Google Analytics, and others is available at the click of a button.
When we talk about visuals, there is no end to the options you get. We are listing some of the main ones here that you must try:
- Decomposition Tree
- Funnel Charts
- Gauge Charts
- Various types of maps
The best ones are the Q&A type visuals. Power BI is powered with AI and supports a natural language, which allows you to ask questions about the data. For example, you can ask the sales of a particular month or the month in which sales were higher than a specific number, etc.
4. Using R integration and DAX to power your insights
Power BI has unlimited possibilities and goes much beyond the standard features that a layman uses. Advanced capabilities include using the R language to run scripts. R language is a language used by advanced data analytics professionals for Data manipulation, Machine Learning, statistical abilities and advanced predictive analytics with help of Power BI.
Advanced users of Excel can leverage the DAX formula language and use it easily with Power BI. All the pivot features like grouping, clustering, etc., can be used in Power BI. You can create your own formulas and leverage them to get meaningful insights.
5. Sales, Business Insights, Power, and open-source visuals
Sales and Business insights from Power BI are currently powering some of the biggest companies in the world. Here are some examples:
- Operations insights to identify ways to decrease costs and increase the speed of production
- HR insights to find the factors that enhance employee satisfaction and efficiency at the same time
- Sales insights to find the best performing target audience and employees to channel energy and resources in the right direction
- Marketing insights to increase the ROAS on ads
- Market insights to decide on the buying behaviour and products that are slowly becoming popular (Bestselling products)
Another benefit is that you can easily find the visuals to use from thousands of open-source ones. You can find one for every kind of industry.
Power is another factor as there is no limit to what you can accomplish with Power BI. It is being used by some of the largest companies on the planet and is the preferred choice for processing Big Data.
- Most large companies even use Power BI to process social media data and identify the sentiments towards the company on various social media platforms.
These are just 5 reasons among hundreds to choose Power BI reporting for your Business. There is no limit to what you can achieve with Power BI.
Make sure to start with a plan as it is very easy to get distracted from the goal as you discover Power BI’s different features.
Start by leveraging the benefits listed in this post, and you will indeed witness a considerable surge of revenue in your business!
Let us know your favourite Power BI feature in the comments section.