Power BI: Opportunity in Numbers

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: