Introducing Microsoft Power BI
Businesses in Ireland and throughout the world have gone through a disruptive decade of digital transformation. The move to digital means that businesses small and large are generating large volumes of recorded data on customers, services and operations. But research shows that despite the value of such data in helping us to make informed business decisions based on predictive data analysis and reduce risk, many of us are not tapping into this valuable resource for our businesses because we don’t have the skills or tools to turn vast volumes of data into information that provides insights. Cue Microsoft Power BI.
Microsoft Power BI is a powerful and user-friendly business analytics and data visualisation platform that can assist organisations of all sizes by providing the data insights they need to make better decisions. Companies can use Microsoft Power BI solutions to analyse operations and financial data, and to gain a 360-degree view of their customer’s journey to purchase.
In essence Microsoft Power BI, is a data visualisation platform and business analytics solution that enables business owners and their teams to make reliable predictions about their future and identify opportunities for streamlining and improvement. The platform enables businesses of any size to model and visualise their data using interactive, visually immersive reports, innovative AI and fully integrated dashboards.
The Benefits of Power BI for your Business
The Power BI platform is versatile meaning it can be customised to meet the needs of businesses of any size. Regardless of your company size or your sector the general rule of thumb is that if your business is generating a lot of data then Power BI is a valuable tool for you and your team. The free desktop version of Power BI will have ample functionality to meet the needs of any small business. Even as your business grows you can avail of a free two-month trial of the Pro-version.
Easy to Use
One of the reasons for its popularity is the fact that Power BI is so easy to use. Most new users will get to grips easily and quickly with the platform. Power BI enables the user to obtain insights from their data without the need for specialised analytical knowledge or skills. Your data will be displayed in a highly visual way via graphs, charts and dashboards. Better still data from any source can be easily integrated into the platform.
Your insights can only be as good as the data provided. Power BI will update your data regularly. The platform itself also benefits from regular updates so you won’t have to worry about your data losing relevance. Results will always be based on real-time data.
Like all other Microsoft solutions, you can find a strong community for Power BI. The Microsoft Knowledge base is also vast and comprises support documents for all the features and regular upgrades.
Ease of Collaboration
After creating a dashboard in MS Power BI, it can be easily shared with across an organisation and multiple departments. As a result, collaboration is one of the most significant benefits of Power BI, as it has the innate ability to drive innovation across a business and its employees.
Efficiency of Data Management
In the Power BI Platform Report templates can be easily created, reused, and shared between users. This feature will save your team time in generating management reports. – especially if similar reports are used by different departments across a business. Powered by machine learning the platform is highly intuitive, becoming even more responsive as your usage increases.
Security is paramount when housing large amounts of data, Power BI undergoes regular security updates and is secured end-to-end and encrypted, ensuring that your data insights can be accessed and shared without any risk of being compromised.
Once you invest a little time in accessing and learning the Microsoft Power BI Platform l you will be empowered to unearth powerful insights about your business and make accurate predictions about which product ranges will sell, what capacity you will need in a given week, how your customers will respond to a promotion.
With continued use you will start to see trends in your data and will be able to spot opportunities for process improvements and cost reduction. In a 2019 report, leading European Management and Technology consultancy, BearingPoint, revealed that Irish companies were lagging behind their European counterparts in their adoption of digital. It found that there is unexploited opportunity for Irish companies to use digitalisation to differentiate and secure leadership positions in their chosen markets. Embracing tools such as Microsoft Power BI is a great way to start your business on its journey to digital maturity.
Train with the REIM Team
If you’re thinking of implementing Microsoft Power BI within your day-to-day operations, you might be considering Power BI training for your team. Click here to see dates of our upcoming Power BI training courses for 2023. Alternatively, if you’d just like further insight into Microsoft Power BI contact us – we’re here to help!