Why Microsoft Power BI is popular among BI tools?
Microsoft Power BI is a set of apps, software services, tools, and connectors that collaborate to transform our data sources into insights, visually appealing, and immersive reports. Even as there are numerous other tools available for business intelligence and analytics, the Gartner Magic Quadrant ranks Microsoft Power BI and Tableau as the leaders.
Even though there are multiple choices on the market, the Microsoft Power BI tool is one that you can rely on. In this article, let’s take a closer look at why the Power BI tool is popular in the BI tool market. Learn the Best Power BI Training in Chennai at Softlogic Systems to become a master in the data visualization process.
What is Microsoft Power BI?
Power BI is a collection of software services, applications, and connectors that work together to transform disparate data sources into collaborative, interactive, and visually engaging insights. The data might come from a collection of cloud-based data warehouses, hybrid on-premise data warehouses, or an Excel spreadsheet.
The Power BI tool allows for simple connection to data sources, as well as visualization and identification of what is important, which can then be shared with anyone. We can share the dashboards and reports easily and make it simple for teammates and external stakeholders (if any) to access them.
This makes it a perfect tool for analyst firms, consulting firms, or other service-based businesses that function with a wide range of customers and workgroups.
Power BI is divided into three major components as below :
Power Bi Desktop – It is a desktop application for Microsoft Windows.
Power BI Service – It is a SaaS (Software as a Service) application available for users online.
Power BI Report Builder – It is a Power BI service that helps in the paginated report generation for sharing with others
Power BI Report Server – It is an on-premises report server that assists in publishing reports after creating them in Power BI Desktop.
These services enable one to use them in a kind of ecosystem to consume business insights in the best way possible. Typically, a report is created on the Power BI desktop and then shared across the Power BI service so that other team members can use/view it. Users on the go can access them through the Power BI mobile applications.
Building Blocks of Power BI
Microsoft Power BI structure is broken into fundamental building blocks with the following components that construct the complete working of Power BI.
- Visualizations : They are visual representations of the collected data and they can be charts, plots, maps, or any.
- Datasets : Datasets are a group of data used for creating visualizations.
- Reports : Reports is the collection of visualization that shows up in one or more pages.
- Dashboard : It is the collection of reports that we can create for sharing them to others
- Tiles : A single visualization on a dashboard is known as tile.
Each of the above components will be used to create visually appealing dashboards that can be worked on collaboratively by a large team. Power BI service and Power BI desktop work in tandem. The UI on the desktop version is simple; it looks like any other Microsoft software, such as PowerPoint or Word. The one who is well-versed in MS Office can find easy working with Power BI.
Applications of Microsoft Power BI
Since data analytics will be confusing for many people, Power BI’s simple but powerful features make it a tool that can be utilized for a broad range of purposes. Following are some real-world Power BI examples that will illustrate you how businesses are reaping mainstream success and success with Power BI.
The module that can easily measure and represent the health of a large number of diverse data sets was required by MediaCom, the world’s most famous media agency and the largest cable television provider.
They discovered a solution for this problem in the form of a ‘health check,’ which is capable of capturing every surface of a multi-platform media in a single score, including paid media effectiveness, earned media effectiveness, the earned-to-paid media ratio, realized customer value, and longitudinal performance.
The ‘health-check’ feature is built on Power BI, which provides a campaign dashboard and a collaborative site where the account team can ask customers questions. The MediaCom company increased campaign optimization checks from weekly to daily with the implementation of Power BI.
This airport employs Power BI to visualize real-time passenger traffic at the airport and to prepare employees for changing traffic conditions. With the adoption of Power BI, they will be able to connect to a broader range of data sources with fewer efforts and use this data to run Heathrow airport more efficiently than ever before.
Key performance indicators (KPIs) are dispersed across multiple applications. When metrics are siloed in individual software, it is impossible to draw conclusions from them. Power BI consolidates this data into a single panel, providing you with an organization-wide view of the information that matters.
Visualize Sales vs. Marketing Leads.
Do you have trouble getting your sales team to meet their daily limit? The issue may not be with their department, but with the quality or quantity of marketing leads. Even your best account representatives will struggle to do their jobs if they don’t start with the right prospects. The relationship be1tween these two critical metrics can be visualized using Microsoft Power BI.
Visualize Financial Performance in Real Time.
Financial hardships have a long-term impact on your organization, particularly if they occur unexpectedly. Microsoft Power BI provides information about the company’s performance at multiple levels. You can examine a team’s profitability, your top-selling products, the revenue generated by a specific department, and a variety of other metrics.
This data is fed into Power BI in real time, so any sudden drops are noted. You have the opportunity to address the issue before it becomes a problem.
Consistent Reporting Standards
How many software packages do you have in your company? Every department, from accounting to sales, relies on specialty applications to carry out their daily tasks. These programs don’t always include a reporting feature, and if they do, the format varies greatly from app to app.
Using Microsoft Power BI to pull in data and generate reports ensures that your organization has consistent standards. Managers understand information more quickly when it is presented in the same format and style.
Keep an Eye Out for Inventory Shortages
Do you keep physical inventory in your business, whether you sell products to the general public or you need to keep track of your office’s printer paper? Power BI keeps track of your inventory numbers so you know when to replenish them, as well as the sell-through or usage rate and other critical data.
Reasons for choosing Power BI in top companies
Power BI is a cloud-based business intelligence service launched by Microsoft in 2014. It continues to draw on years of experience with SQL Server, Access, MS Excel, and other programs. It enables businesses to thoroughly analyze data to clean and transform it into meaningful insights.
Ease of Use
Power BI has a very user-friendly interface. Power BI can be used even without prior programming knowledge or experience. Its built-in intelligence makes it possible to select attributes for reports by recommending the best reporting element.
Easy to learn
Power BI was developed on the structure of MS Excel and employs a similar approach to report design. Excel is a widely used software around the world, making Power BI simple to learn. Microsoft SQL Server and Microsoft Access databases served as the foundation for data modelling, making it simple for users and programmers to learn Power BI data modelling. It also includes learning guides on the official website.
Power BI includes features that make it extremely simple to collaborate. In app workspaces, users can collaborate with others to create interactive reports and dashboards. They can even be published to a larger audience. With Power BI, you can even share these dashboards or reports with a smaller audience via the mobile app.
Power BI Desktop is free to use and allows users to create simple or complex reports and dashboards. Not only that, but Power BI pro licences are very affordable (US$10 per month). Power BI has a premium option for a larger audience that allows for cost customization based on usage.
Broad Data Source Coverage
Power BI includes connectors for a variety of data sources, including MySQL, SQL Server, Oracle, IBM Informix, Microsoft Excel, IBM DB2 database, MailChimp, Facebook, GitHub, IBM Netezza, PostgreSQL database, SAP HANA, Sybase database, Amazon Redshift, Azure SQL Database, Azure SQL Data Warehouse, Azure Analysis services database, Azure Blob Storage, Salesforce, and many more.
Following are the benefits of Microsoft Power BI
- Power BI insights and Office 365 work in tandem with Excel and Microsoft Teams.
- Power Query allows you to connect to data from anywhere using a large number of built-in connectors.
- The ability to quickly develop intelligence systems using Power BI and Microsoft Azure Synapse Analytics.
- Using Microsoft Power Platform to convert insights into action
- Built-in data loss prevention via Microsoft Information Protection and Microsoft Cloud App security Industry-leading AI that aids in the rapid discovery of solutions
- Best mobile experiences with Power BI Mobile Cloud maturity—one of the largest and fastest-growing BI clouds
- User-driven innovation entails releasing new features on a weekly basis based on user feedback.
- Creating a data culture that is open to all
Finally, Power BI is able to drive better business decision-making by providing insights in visually appealing and interactive reports. With BI for everyone, it established a data-driven culture. Furthermore, it protects the data with end-to-end encryption and sensitivity labelling, as well as real-time access monitoring.