Keeping a close eye on critical business data is essential. Unfortunately, gathering and analyzing data is often a time-consuming process, and in today’s fast-paced business environment, data is frequently out-of-date by the time it’s pulled and documented.
Power BI offers a dynamic way to stay on top of key performance indicators (KPIs). Perhaps more importantly, it provides ways to boost efficiency while delivering real-time insights into your business. Here are the top five ways Power BI increases efficiency.
1. It’s User-Friendly
Everyone has used Microsoft software at some point. Its user interface (UI) is almost universally familiar and easy to learn. Power BI is no exception.
With Power BI, your IT team will still be essential to getting everything set up, but even non-tech-savvy folks will be able to pull reports and visualize data. This boosts efficiency by putting analytics in the hands of all employees, elevating self-sufficiency when it comes to preparing reports and cutting down on support calls.
2. It’s Fast
Power BI is built on a highly compressed columnar database. This translates into rapid performance, even when working with large data sets. It easily digests data from different sources, translating them into actionable insights. Instead of manually pulling information from various sources or writing complicated scripts to do it for you, Power BI pulls data together quickly and makes it easy to understand.
3. Everyone is on the Same Page
In some businesses, everyone pulls together their own information and keeps it siloed: accounting has one spreadsheet; human resources has another one. This makes it hard to gather cross-departmental insights.
Power BI allows everyone to get their information from a central location, and then easily share it within your organization. Everyone is on the same page, which leads to less confusion and more accurate comparisons.
4. It Offers More Accurate Planning
In the short term, you can use Power BI to closely monitor KPIs and look for opportunities to improve. Many businesses have areas where resources or time could be used more efficiently; however, without an efficient reporting tool, it can be challenging to keep an eye on everything and identify areas needing improvement. Power BI can help uncover potential areas for change.
Power BI can help with forecasting, extrapolating trends based on real-time data; you can input different variables and see how they might impact your business long-term. Knowing how decisions will impact your business in the long run drives more accurate, fact-based planning.
5. It Integrates With Excel
Excel is popular for a reason. It’s simple to use and easy to customize. Power BI integrates with Excel, so your power users can still use their software of choice while gaining insights from Power BI. Simple integration saves on training time and reduces support calls, freeing up your IT team to focus on other business goals.
Speaking of freeing up your IT team, an increasing number of businesses are outsourcing some or all of their IT needs. Why? It’s often more cost-effective and efficient. At Peters & Associates, we offered managed IT services tailored to your business. You can learn more about our offerings by visiting our website.