By now, I’m sure you’ve at least heard the words Power BI thrown around in company meetings or in smaller chats around the watercooler at work. You might not have any idea what Power BI is or you could have a high-level understanding but no idea how to use it or the potential it has to open up new ways to understand your company data.
At a high-level, Power BI is way to collect, organize and transform your company data into colorful and easy-to-understand visuals so you can focus on the important things. The visuals can come in the form of charts, graphs or percentages, to provide you with an immediate understanding of business trends, company spending and income, and identify areas of growth. Power BI lets you extract all of these things so you don’t have to spend hours analyzing numbers and sifting through pages of reports that you barely understand.
Getting Your Data
Obviously, in order to take advantage of Power BI, you must first have the data you want to analyze. The data can come from Excel Spreadsheets (let’s be honest, this is where most of us store our company data) or any of your online services. Power BI then collects all of that data into one central location so that you can stop searching through thousands of spreadsheets and start making sense of the numbers in front of you.
Create Pretty Graph Pictures
Once all of that data is in one place, you can start creating colorful graphs and diagrams that will allow you to dive into your data and gain insight into what is working and what’s not.
Get Updates, Constantly…
Now that you have an understanding and grasp of what your data means, now you can design a plan of action to increase opportunities and eliminate risk. Once you and your team are aware of the plan and new goals, now you can create your own, personalized dashboards that will auto-populate when new data is submitted. This will provide your team with real-time updates on their successes and help in identifying areas where growth is needed.
Power BI is the best tool for providing snapshots of company projections, trends in your industry, recognizing where the best opportunities are, and identifying and eliminating unnecessary risks. You can ask the simple questions, like: ‘Which territory saw the most growth in the last quarter?’ without having to recall difficult formulas or use multiple reports to answer the question. Rather, Power BI’s drag-and-drop feature allows you to move data and manipulate reports with just a few clicks.
If you’re running a business or the head of your department and you’re not using Power BI to manage and evaluate your data and goals, you’re missing out. Power BI is really the most powerful tool you can use to work for you and help you make decisions. You can check out our Power BI page to get a more in-depth look at what Power BI can do for you!