By now, regardless of what industry you’re in, you’ve likely heard about the power and insight that data offers. Nearly every company in existence has something to be gained from their data, but it won’t do you any good if you can’t make sense of it! One dynamic tool available today is the analytics, visualization, and business intelligence platform, Power BI, offered by Microsoft. Below, we’ll discuss what Power BI is capable of, some of its key features, and a few real-world applications where businesses have leveraged Power BI to gain a competitive advantage.
Originally released to the public in 2014, Power BI has continuously been refined to keep up with the latest trends and technologies. It operates across three elements – desktop, online, and mobile – “to let people create, share, and consume business insights in the way that serves them, or their role, most effectively,” according to Microsoft.
Essentially, Power BI helps deliver insights that enable faster, more informed decisions within your organization. Users can access data from hundreds of on-premises and cloud-based sources, like simple Excel spreadsheets, third-party applications such as Salesforce, or their own databases. They can then transform and integrate that data, using the Power Query function and the DAX formula language, into striking visuals and share them with colleagues across the company and devices. It also promotes collaboration through customized dashboards and interactive reports that easily scale to fit your organization. Lastly, Power BI’s built-in governance and security features help your organization comply with current regulations and help protect your data from the ever-growing list of cyber threats.