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Power BI: Opportunity in Numbers
Posted on March 4, 2021
Does your business have an immense amount of data that is daunting to compile for analysis? Many companies don’t understand the power that their data holds and are missing the potential knowledge that can be derived from analyzing it. To recognize the importance that your data holds, you can utilize Power BI to navigate digital potentials and improve decision making through data analyses.
Research shows that workers spend about 90% of their work week on data-related activities. In addition to time, the workers utilize anywhere from 4 to 7 tools to perform their data activities which adds to the complexity of the analytics process.
Harnessing data and analytics through Power BI can lead to the following benefits:
- Minimize costs
- Increase transparency
- Drive innovation
- Simplify processes
Power BI: Opportunity in Numbers
Power BI allows businesses to transform digitally and can often begin with simply examining the numbers and understanding their relationships within the application. Perhaps you would like to understand where a potential opportunity is hidden for your business or you want to build reports based off collected data. Depending on what and where your data strategy is, those updated numbers in your database can be used as an opportunity to showcase comprehensive possibilities.
After compiling your data, you can combine multiple files and merge data into one report. Power BI is optimized to deal with an immense amount of data without breaking down or slowing performance. Once your data sets are uploaded, users are then able to create interactive reports – for example bar, column, line, map, matrix, pie charts, table, etc. The reports that are created allow for visualizations that best represents the data you’re looking for.
Build a Simple Visualization:
Once you have collected your relevant data, you can create straightforward data visualizations. For example, your report can show how numbers or specific focuses in question have changed over time. If geographic information is provided, Power BI can show where your customers or reach are concentrated throughout a specific region. The goal of utilizing Power BI is to show the added value of your collected numbers in greater depth over a longer period.
Power BI is compatible with analyzing many data files as well. For example, if you were to collect or build your data in Excel first, you can then upload the data into Power BI to create a more in-depth dashboard. Here is a representation of a report built in excel:
With Power BI, you can optimize your excel data and build comprehensive and appealing reports. For example:
Tell a Story from Your Data:
Now that you can visualize your data and share it, your team can investigate and study the numbers. Figure out how you can use this data to benefit your company, highlight opportunities, or solve problems. Within Power BI, simple data analysis is accessible, raising more questions to assess such as budgeting or departmental changes.
By utilizing data to spark these types or questions, your business can further help decision-makers discover potential problems and solutions. By creating a data-driven culture, professionals can better understand future projects and execute further data-led initiatives that prioritize company and employee needs.
The Next Steps:
Through Power BI, data visualization is possible, and decision-makers can navigate the details behind the numbers. Power BI can help ensure the next steps to success by showcasing how to maximize the understanding behind the collected data and integrating with existing resources to save an immense amount of time.
Learn more about A Digital Earth’s software solutions to discover how the right advanced technology can transform your business strategies.
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