Making the right decision can make the difference between the success or failure of a business strategy. In this article you will be able to know 3 basic functions to be able to take full advantage of the service Microsoft Power BI.
In every company, decisions are made every day that have an impact on the objectives set both in the short and long term, some decisions can have an influence on the path of success and profitability or even affect the very survival of the company. .
Decision-making cannot be left to chance or to outdated means; it is essential to have the correct information, at the right time, and to carry out the pertinent analysis processes to help create innovative and successful strategies.
To minimize the risks and uncertainties present in any decision, it is necessary to apply what is known as “business intelligence” or in English “business intelligence”.
According to him Data Warehouse Institutebusiness intelligence can be defined as a mixture of processes, technology, and tools that allow data to be converted into information, and then this information into knowledge, and finally this knowledge into a strategy.
Microsoft is a leading company in the software market that, among its wide range of products and services, offers the solution power BI.
Power BI is a tool that allows you to combine various databases and then create systems to analyze the information contained. This information can then be presented in formats that are easy and intuitive to understand and use.
A strength of Power BI is that it allows information to be shared in real time with multiple users, so that everyone involved in a decision can view and analyze the reports and charts efficiently and effectively.
Power BI presents hundreds of benefits that I invite you to discover, among which we can highlight:
Integration of data sources
Power BI allows, for example, data to be taken from Access, Facebook, the company’s mail system, Google Analyticsfrom local or foreign government institutions, international data sources such as the International Monetary Fund and hundreds of other sources of information.
Data can be stored on company servers or thousands of miles away in the cloud, and Power Bi lets you relate and present it in many ways that are useful and engaging for interpretation.
For example, the number of clicks received on an advertisement on a web page that the company has contracted in Guatemala can be related to the sales related to the region where the content of the page is read the most. This with the objective of making the decision if it is worth continuing to invest in advertising on said Guatemalan page.
The system allows unifying, presenting and analyzing information in an intuitive and collaborative way, so that the efforts of the company’s personnel, such as managers, supervisors and others, focus on making decisions based on rationalized data.
Portability
Power BI enables business intelligence on the move, allowing the visualization of company data and its development, from virtually anywhere in the world.
Just by having an internet connection, you can access the information stored on the company’s servers or in the cloud, quickly and safely.
Imagine, being in a business meeting in Costa Rica and being able to analyze the acceptance rates of the brand on Facebook, at the same time being able to access and visualize the development of sales in Guatemala and be able to make a comparison with sales in Honduras.
Power BI allows you to perform many functions from the portability of a mobile device and with the flexibility of being able to work with both systems Android as IOS.
Collaborative work through mobile platforms makes the use of time more efficient. For example, the sales executive who is in Mexico does not have to wait to reach his destination, say Guatemala, to present the sales report or make a comparison with the investment in advertising with the Marketing Manager of the region that is located. located in Costa Rica.
These activities can be carried out from your Ipad, interacting with those involved in important decisions from the comfort of your hotel room.
Natural language questions
A function that is gaining much acceptance among Power BI users is that of being able to ask questions naturally, as if we were talking to a person, in relation to some variable that we are interested in knowing. It is known as: Q&A (questions and answers).
Instead of viewing and navigating through a sea of cells and data, Power BI allows you to ask questions like: “What is the total sales for Guatemala in table form”, “What are the operating costs for Costa Rica in a graph”, and the information is immediately presented in the required format and with the desired relationship of variables.
It must be taken into account that the questions must be asked in English, the system helps in the formulation of the question with natural language and presents the required information.
Power BI can answer the questions in the form of a graph, presenting the information in cells as a table, either as a map or the specific data that is required, such as “What were the sales this year? as a line chart” (What were this year’s sales as a line chart?)
As the question is typed, Power BI presents the results intuitively, as required.
Imagine the possibilities and the best use of time, instead of wasting valuable minutes reviewing hundreds of sales reports, you can ask a question and get the data instantly.
The possibilities of Power BI are limited by the imagination of the users
Is Power BI enough?
Of course the service Microsoft Power BI It is not the only thing that facilitates the decision-making task in a company, it is necessary to have a robust preparation and knowledge to know the tool and have the ability to apply it with the processes of business intelligence, and to logically analyze the information in order to make the right decisions.
That is, the software is not going to make the right decisions for you, it is your power of analysis and interpretation that will make the difference.
In order to use business intelligence wisely, one should have a solid background in statistics to analyze data and test probabilities, develop logical estimates, and even use data. econometrics so that through the mathematics relationships between different variables can be analyzed and quantified.
Therefore, the final recommendation is to trust an institution of recognized prestige to study the knowledge necessary to fully exploit the capabilities of Power BI, such as GalileoX
If you were interested in the topic and want to update your knowledge, manage your business more efficiently, or expand your job skills by being able to work as: Business Intelligence Manager, Data Analyst, Business Intelligence Professional, Business Intelligence and Analytics Consultant, Business Intelligence Developer or Data Manager.
In this program you learn to convert the large volumes of data that companies can generate into sound decisions. In addition, the program has a specialized course where it is applied Microsoft Excel and Power BI in case studies to maximize analysis capabilities and reinforce learning.