In our last two pieces, we discussed Microsoft Power BI in detail and how to utilize it in the business industry. Many firms and business leaders have a question in mind that whatever is being said about the superiority of Power BI is good enough but in comparison to what?
Some of them are quite habitual to excel and doubtful about choosing any other way of reporting, and Power BI is not an exception. All this directs us to the old saying, ‘great things never come from comfort zone’. So why not give Power BI a go, but before that, you need to understand how is it superior to Excel in reporting to get the whole picture.
It’s been almost half a decade since Microsoft’s business intelligence suite Power BI came into existence. Apart from the early adopters, businesses are now eagerly adopting and utilizing this tool to strategize better. The first major function of Power BI is that it extracts important analysis and insights to highlight how your business is performing and where exactly is it heading. Second, it stores data on the cloud and bypasses Excel by automating trends and search results with minimum errors. Last but not the least, it visualizes data in such a simple and presentable manner that the final result is quite impressive and empowering. The in-depth understanding helps you impress your clientele while closely assessing your competitors.
Let’s understand in detail how exactly Power BI is an improvement over excel:
- Power BI can extract and utilize the hard work done on Excel spreadsheets to visualize reports better that are useful for both employers and employees. It can also reduce excessive dependency on spreadsheets and just sync all your data from SAP or Oracle to extract reports of your choice. Power BI is not a usurper of database, it will need it one way or the other, but unlike Excel, it can sync and merge data from different sources to give a concrete picture when connected to a direct source. Now, since all the data is extracted automatically without any manual work, the margin of error reduces dramatically, and it further provides more time to your financial team to work on insights.
2. Once you are done with syncing all your company data, the next step in business intelligence is extracting insights. This is where Power BI is a clear winner over Excel. Not only it streamlines all data into useful information automatically, but also runs different analytical tests over data to discover new angles of analysis you wouldn’t explore otherwise. For instance, you may have a huge budget for marketing in your office. But if your sales team fails continuously to provide good leads all your expenditure will be in vain. Power BI can pinpoint this problem by analyzing the data and help you to end the sales vs. marketing rivalry.
The traditional way of analyzing company data is by printing Excel sheets on paper and then manually picking out trends and angles that are useful for business growth. Power BI is designed to replace this practice by pictorially depicting every significant analysis on a computer or mobile screen. Your old employees may take some time to adopt this habit, but once done, they will themselves realize how much it has increased their efficiency.
3. Another major problem that Power BI solves efficiently is of data storage. Since Microsoft Power BI works on cloud and saves all data on it, it becomes much handier and hassle-free than Excel. Some businesses worry about the security of the data saved over the cloud or uploaded on the server. Well, it is not a problem as Power BI abides by all on-shore rules, whether it is America or Australia, your data is super safe. If you want to keep your data closer, you can install your own local server and host it over there. In fact, this makes the security much more robust since it can’t be leaked now due to the absence of printed files.
Another feature of Power BI that adds competitive advantage is the support for natural language. If you want a specific data on the basis of area, region, category etc. just ask and you will get the answer in seconds. No need to raise a request which will be answered by your technical heads in days or weeks. Get it then and there. Request for as many angles as you want to have a look at systemized data and we can assure you, Power BI won’t disappoint. It is a worthy investment in today’s cut-throat competition.
If you’re now interested in opting for Microsoft Power BI as your business intelligence tool, contact us to help you adopt it gradually with our Power BI experts at ‘pay as you use’ bucket rates. You can opt for a free trial without any hidden charges or efficiency issues, just visit Loginworks Softwares Inc. at www.loginworks.com and enhance the quality of your reporting. We hold a strength of more than 250 employees working from offices in India and abroad, and provide complete data services from data mining to result-oriented visualization.
So, what are you waiting for? Outsource your Power BI reporting dashboard to us right away!