Microsoft Excel has been the preferred tool for business reporting for many years. Since 2015, when Microsoft launched Power BI – a “business intelligence” tool that delivers robust analytics and reporting capabilities, it has been simpler to comprehend and visualize complex data. The mindset of business owners began to change their approach and quickly changed the way they presented and analyzed their data.
Power BI was developed to aid in systematically analyzing data and sharing information. With the power of Microsoft’s business analytics tool, you can perform faster experiments using visualizations, calculations, and statistical functions over large data sets or the capability to get answers quickly through robust dashboards that help create successful strategies. It’s evident that Power BI delivers far greater insight into the data than Excel.
Power BI was built to be able to integrate with Microsoft technologies, such as Excel documents, SharePoint docs or SQL databases, but it isn’t only available to these legacy platforms!
As a cloud-based service, Power BI currently connects and retrieves data from 60 commonly used software solutions which include Salesforce, SAP, Google Analytics, Zendesk, MailChimp, QuickBooks and even Facebook. Because of the access to a wide range of data, you can use the data more efficiently and also cut down on the operational cost and time spent on the transfer and sharing of data. Other benefits include cost-effectiveness, immediate updates on data and having access via social media.
The analysis of data from multiple sources is faster and simpler, as you can look at the entire data in one spot! Power BI lets you keep up-to-date with every insight and makes it simple to create comparisons and use analytics or graph and display reports.
Since data modelling is the primary function of Power BI, it doesn’t need to model data in native systems before integration takes place. You can extract data directly out of the cloud or on-premises as well as hybrid platforms, with no need for complex manual exports or imports!
With excel, opening a big data sheet is very clumsy. Often many softwares and programs do not allow loading a large spreadsheet with tons of rows.
Microsoft power bi is built to integrate huge data sets for easy report creation. It makes it quick to access data from various sources to represent on the dashboard. Working with an overview of the entire data in one place is more productive and time-saving.
Excel doesn’t have any feature or the inbuilt capacity to handle large datasets at a time.
Along with seamless integration, power bi allows merging, evaluating, and analyzing data from different departments like production and logistics. This can only be done manually with Excel spreadsheets, which is tedious and a productivity killer.
Power BI uses powerful compression algorithms to load and store the data. This allows users to analyze, view and visually analyze vast amounts of data that cannot be opened using Excel. With this fantastic feature, you don’t have to trim down massive datasets to present a greater depth of analysis. Even the most comprehensive summaries and reports can be stored in a single file and be analyzed using drill-downs.
The human mind loves figures, but making sense out of thousands of data rows is not preferred. That’s why it is easier to read a pie chart or a simple graph for the annual sales comparison than plain, printed numbers on a sheet.
Power BI has its most prominent and significant advantage – report creation. With colors, themes, and metrics, it is easy to understand large data sets at a glance. Reading numbers on an excel sheet will never give away the insights as a simple report in power bi.
Another advantage of visual representation is that pictures stay in mind longer than numbers.
Finding trends in Power BI is incredibly simple. With built-in time intelligence capabilities, It takes just a few seconds to display vast quantities of data. Data can be viewed using various attributes and dimensions, including date-time dimensions.
The forecasting function uses built-in predictive forecasting models that automatically recognize the next step (weekly/monthly and annually) within your information and then make forecasts or estimates of the future. Power BI looks at your information and determines the most appropriate method to make the forecast. The forecasting tool offers Power BI users the ability to apply artificial intelligence to their data.
There’s no need to master advanced UX abilities; it’s simple to make visual masterpieces with Power BI! Drag-and-drop capabilities, simply changing the size and the ability to copy and paste; these capabilities will be familiar to Microsoft Office suite users. The creation of charts and graphs that are compatible with each other regarding coloring is never easier because of the Power BI branding theme.
Although Excel isn’t the most mobile-friendly, with the Power BI mobile apps available for iOS, Android or Windows, you’ll be on top of your industry by having easy access to complete reports and dashboards. Additional mobile-friendly features include KPI tracking and a global search function that lets users search for reports, dashboards, and groups by name.
Within Power BI (premium), you can easily set your data refresh time daily, or even daily or even hourly. Enjoy quicker and more stable data refresh, which can also cut down on resource consumption and management.
Power BI is a simple tool that lets you visually examine your data without fear. With its self-service capabilities, business users can be independent and not dependent on IT for collecting, transforming and analyzing data with real-time analytics and visualizations. Power BI will aid your company to shift into a new business intelligence culture centred on data-driven decision-making.
Imenso software – India’s leading power bi consulting company
Investing in data visualization solutions is not for fortune 500 companies. SMEs and large businesses quickly adapt to make the most out of data from various sources.
If your business is ready to make the jump to the next level with data analytics and visualization solutions, consult our power bi development company to organize your business data and provide it with the extra boost.