In today’s data-driven world, organizations are constantly striving to gain insights from their vast amounts of data from various sources. Amidst this torrent of data & information, there is a need to better harness and analyze these data to help drive success for organizations of all sizes. Introducing Microsoft Power BI — a business analytical tool that equips users to transform raw data into actionable insights.
Let us do a deep dive into what Microsoft Power BI is
According to https://learn.microsoft.com/, Microsoft Power BI is a collection of software services, apps, and connectors that work together to turn your unrelated sources of data into coherent, visually immersive, and interactive insights.
Your data might be an Excel spreadsheet or a collection of cloud-based and on-premises hybrid data warehouses. Microsoft Power BI lets you easily connect to your data sources, visualize and discover what’s important, and share that with anyone or everyone you want.
One common workflow in Microsoft Power BI begins by connecting to data sources in Power BI Desktop and building a report. You then publish that report from Power BI Desktop to the Power BI service and share it so business users in the Power BI service and on mobile devices can view and interact with the report.
Applications of Microsoft Power BI
Microsoft Power BI can be used in critical parts of an organization where data is generated to gain actionable insights to help with a higher success rate in the organization. Let’s look at some of them ;
Sales Analytics — Sales teams thrive when they have access to up-to-date information. Having an easy-to-access overview of sales performance numbers, and using past performance information to predict future sales outcomes are a few of the ways Power BI enables sales teams to succeed. eg. Sales Performance Dashboard, Sales Forecasting, etc.
Marketing Analytics — Marketers need to be able to measure the results of their strategy and make immediate adjustments when necessary. A Power BI marketing dashboard can measure, among other things, product volume, market share, and sentiment. eg. Marketing Campaign Analysis, Social Media Analytics, etc.
A marketer’s dream: at-a-glance metrics on sentiment, sales, locations. source: https://promx.net/
Operation Analytics — Supply and demand; it’s a delicate balance that manufacturers and retailers must work to achieve. With high-quality data, managers can create real-time status reports that allow them to ensure supply matches demand. eg. Inventory Management, Supply Chain Management, etc.
All in all, Whether you’re a data analyst, business user, or IT professional, Microsoft Power BI empowers you to turn raw data into actionable insights, driving better decision-making and business outcomes.
