What Is Data Analysis? How To Get Benefits From Microsoft Power BI Dashboards Development?

We cannot deny the fact that we are surrounded by information nowadays. In fact, we seem to live in a pool of information – while some are useful, some are not. Research has shown that from the huge volume of data that is created every day, just 0.5% is duly analyzed. This analyzed data is further used for intelligence, data discovery, and improvement. You might think that 0.5% is a negligible figure, but Power BI consultants know that even this little percentage means lots of data. This is where online data analysis comes into the picture.

What is data analytics actually?

It is evident from the name that in data analytics, proper analysis of data is done for use in business purposes. In the process of data analysis, data is collected, modeled, and then analyzed for extracting insights. With power BI implementation, decision-making becomes easier for businesses. Depending on the business niche and on the purpose of analysis, various kinds of techniques and methods are used for data analysis.

Today’s business world has become highly competitive as every business is trying to outdo the other. With proper data analysis, it is possible to make scientific and logical business decisions with minimal errors. As a result, businesses can run smoothly and more effectively. While talking about data analytics, it is important to talk about business intelligence and data mining.

Among the various data analysis techniques, data mining is an important one. This mainly concentrates on knowledge discovery and statistical modeling, which are needed for predictive purposes. On the other hand, business intelligence includes the part of data analysis, which is based on an aggregation of facts and data. The main concentration is on business information.

Benefits obtained through Microsoft Power BI right from the dashboard

Many organizations are relying on Microsoft power BI for their business’s growth and development. If you want more information on utilizing Power BI, you can contact agencies or companies offering Microsoft Power BI consulting services. They can guide you regarding using power BI to foster business growth.

Listed here are some major benefits which can be obtained by using Microsoft Power BI:

1. Excellent accessibility – The biggest advantage of Power BI is that it operates on different kinds of internet platforms, remote apps, and devices. For instance, it is highly accessible on Microsoft Windows, Android, and iOS platforms. The app is extremely user-friendly, and it can be integrated with other cloud software and with other advanced data services. The graphical functions are intuitive and simple; thus, no special training is needed for using the app. 
   
   
2. Rich in features – Ask any power BI developer, and they will tell you about the amazing features the app has. Microsoft has appointed the best development team for this product so that the best features are made available. The main consideration while designing the app was creating intelligent visualizations, which will be based on business data. These visualizations will help a lot in various critical decision-making processes. A little advanced version, Power BI Pro helps in creating graphical data visualizations in collaborative as well as independent ambiance. These can then be easily shared between employees. 
   
   
3. Continuous Updates – Continuous updates are offered for power BI users, and you can know about these through the monthly updates. In fact, there is an online power BI community where people share various kinds of opinions and suggestions. Microsoft is proactive in attending to these opinions and suggestions. It tries to implement some such feedback in the main product line. 
   
   
4. Connectivity – Connectivity is excellent for the app. Varieties of data sources are supported on power BI. For instance, financial data is supported from ERP; sales data is captured in CRM, etc. With Power BI, you will have access to Azure Cloud, on-premise as well as third-party data sources. And all this you will get in a single and easy-to-use application. With this feature, you can create completely new and compelling datasets from widely different data sources. While the connectivity is amazing, Power BI comes with improved and advanced security features too. These are on par with international security standards. 
   
   
5. Functionalities for self-help and service – An excellent functionality of the tool is the drag-and-drop functionality. With this, even the staff will be able to generate custom-made reports within a short span of time. Power BI uses natural language queries. As a result, users don’t have to learn any complex query language. Basically, the features are such that you can help yourself while working. 
   
   
6. Quick information breakdown – Having access to data quickly means that users of Power BI can make informed decisions for various business needs. From the data which is displayed on the app, you can identify the markets where business is running low or above your expectations. With this data, you will be able to create actionable insights. The end result is your organization gains more insight and becomes more competitive. 
   
   
7. Costing – There are two versions of Power BI – Power BI Premium and Power BI Pro. Power BI Pro is somewhat entry-level, where almost all the functionalities are available in the Azure Cloud. The cost for this is quite low for each user per month. Power BI Premium is basically needed for large organizations where reports have to be accessed by hundreds of users. 
   
   

Conclusion

Power BI contains innumerable tools to offer users actionable and compelling insights. For this, they have to utilize its dashboard-style reports.