Why Is Business Intelligence So Important to Business Today?
Business intelligence allows companies to make better decisions for the future. BI can accurately collect and present both historical and present data. Analysts can then leverage these insights to better understand company performance, identify competitor benchmarks, and implement more effective procedures and operations. They can also use this data to spot market trends, which can help increase sales revenue and target new markets. When used correctly, BI can help with everything from market insights to hiring and compliance. Businesses may have used an OLAP system previously to process their analytics, however, this is outdated and that is why OLAP cube alternatives are available to help with the intelligence needed when collecting data for intelligence plans.
What Power BI Offers
Microsoft’s Power BI version can effectively analyze company data and provide useful insights. It has the ability to use a wide range of data sets in a way that is easy to digest and understand. These could include visuals, such as graphs, charts, matrices, etc., which you can easily share with other team members.
The beauty of Power BI reporting is you perfectly leverage your company’s past, present, and future through these data insights. Being able to forecast accurately undeniably gives your company a competitive edge in the increasingly dynamic and ever-changing business environment. It does this by utilizing machine learning technology to spot statistically significant patterns in the data, then using those patterns to make informed forecasts. It can even run “what if” scenarios to help your business prepare for a wide range of variables, helping your business reach future demands, regardless of market changes.
Benefits of Power BI
Some of the major benefits found in Microsoft’s Power BI version include:
- Seamless Integrations: Power BI can easily integrate with your existing web applications.
- No Speed Restraints: Power BI eliminates speed restraints, ensuring you can quickly retrieve and analyze data insights.
- Publish Secure Reports: All reports published by Power BI are safe and secure. You can even set up automatic data publishing, so all users have access to the latest information.
- Provides Optimal Performance: The cloud-based memory of Power BI provides the best performance on the market.
- Integrate Advanced-Data Services: Power BI can effectively integrate advanced cloud-based services.
Components of Power BI
There is a wide range of apps included in Power BI. These apps each have a specific set of features and are designed for different uses. These apps include:
- Power Query: Allows you to transfer, combine, and enhance data from different sources
- Power Pivot: Creates data models
- Power Map: Creates immersive 3D visuals
- Power View: Creates data visualizations such as graphs, charts, maps, etc.
- Power Q&A: Allow you to ask and answer questions about your data insights
The Different Versions for Power BI
Power BI offers multiple versions suitable for different business needs. Knowing the difference is key when choosing a Power BI version that works best for your business. These versions range greatly in price, features offered, and capabilities. Here is a rundown of the different Power BI versions available and how they might fit your business needs
Power BI Desktop
This is the free Power BI version. You can install it onto your laptop and have immediate access to some of Power BI’s impressive features, including shaping, modeling, data exploration, interactive visuals, and report creation. You can easily save and share your data reports with others publicly. Power BI desktop is intended for small to medium-sized businesses.
Power BI Pro
Much of BI Pro is the same as the desktop version. However, for one, you have to pay for the pro version. Secondly, you can share data reports privately with others. Other additional features include creating workspaces, which you can use to create collections of reports and data.
Power BI Premium
With Power BI Premium, you pay for the processing capabilities and space you want. You can purchase your BI to scale, which makes it a great solution for large and fast-growing businesses. Premium can handle large data sets and process an immense amount of data quickly. Users can also create data reports and share them effectively in workshops. Additional features in Premium not found in Pro include:
- 100 TB of storage
- 50 GB cap for datasets
- Ability to store data in a Power BI server
Power BI Mobile
Power BI Mobiles is a device-based application designed for mobile and tablet use. It is available for Android, iOS, and Windows devices. Through the app, you have access to real-time data reports. Mobile users can also create and share reports and get data alerts from their smartphones or tablets.
Power BI Server
This BI is ideal for businesses that must keep their data reports on their servers. Power BI Server is an on-premise solution for businesses who can’t upload their data to the cloud. The features included in Power BI Server are similar to Service. However, Server is more focused on report generation. Likewise, with Server, you don’t have access to real-time streaming, app workspaces, data alerts, Excel access, and email subscriptions.
Power BI Embedded
With Power BI Embedded, you can integrate Independent Software Vendors and developers. You can embed which functions and capabilities you want in your Power BI, and it handles all of the analytics and reporting. The integration even makes the end product look like the original app. This is, by far, the most customizable Power BI version available.
PBRS for Power BI
Want a better way to manage your Power BI? At ChristianSteven, our Power BI reporting software can help save your company time and money by automating the distribution and delivery of your SSRS and Power BI data reports and dashboards. Our solution allows you to automatically schedule and send reports to fax, Dropbox, Google Drive, and more.