Running a business organization and still dependent on the basic calculators for financial evaluations? As the world is moving along with digital and technical advancements, it’s high time for businesses to switch to a smart operator that calculates all your expenses and other monetary essentials.
Meanwhile, it is not only about performing calculations, but going through millions of customer data, sales, and different website operations. Thereby, Power BI comes into plays a part in a company’s system. Though Microsoft Power BI consulting also consists of a team of Power BI experts (those who are proficient in utilizing it), it leverages it to make informed decisions. In fact, its global market size is expected to exceed US$63.20 billion by 2032 [Source: Fortune Business Insights].
So, what are you waiting for? Read this article to understand Power BI and how experts turn data into business insights.
Power BI, marked as Power B-I, is a tool developed by Microsoft that helps users convert boring numbers into interesting graphs, smart reports, and colorful charts. So, rather than just staring for hours on end at spreadsheets, you can look at pictures, more like infographics, to understand the data.
Let’s take an instance, an organic juice company – Every day, the sales rep writes down the quantity of fruits used, the quantity of liters produced and sold, and how much money was made. At the end of the month, this statistical data translates into a lot of numbers. Thankfully, with this tool, you can interpret all that info into a basic dashboard that shows you the factors that follow: –
With this, you can just poke around at the dashboard and get information to make pertinent determinations over time. You can click here to see the utility of data-driven decision-making for businesses.
This is basically a simplistic example of a small-scale business; now imagine a conglomerate that has stores across the country and even overseas; they will require experts to ensure that the data uploaded to this dashboard is accurate at all times. This brings us to the crucial question…
The following are what these experts do: –
These professionals are important because, without them, companies might: –
However, with these professionals, they can leverage superior insight for: –
A great analogy is operating an airplane where the dashboard tells the pilot how fast he’s going and where he’s headed, plus how much fuel is in the tank. The dashboard in this case (for businesses) is Power BI, while the specialists or consultants are the pilots.
Almost every human venture will benefit from the services of these specialized experts, but below are some examples of business entities that can use them and benefit from their expertise: –
Today’s Trivia
“Power BI was first launched on 24 July 2015 by the renowned company Microsoft.”
The following are some skills prerequisites to become an expert with this tool: –
These skills are supplementary to the acquisition of knowledge of computer languages like SQL or DAX, which enhances the use of the tool.
Power BI is a game changer for firms and indeed a lot of organizations because it helps make numbers more interesting. From small-scale startup companies to conglomerates, Power BI technicians can use and have adopted this tool to help businesses make beneficial decisions about their everyday operations and long-term investments.