Power BI: Definition, Benefits & Implementation Challenges
Today’s increasingly digital world also brings an increase in the amount of data businesses must compile, clean and utilize – and, in turn, this brings more complexity to organizations looking to grow.
As such, it’s becoming a necessity for businesses to implement systems, platforms and tools that streamline their ability to drive effective data usage and offer functionalities they can utilize to grow their organizations to new heights.
One such platform is Power BI: a robust and customizable visualization tool that helps users take full control of their data.
As experts in helping businesses embrace the potential of new technology, we’ve outlined some essential information about Power BI.
Important things to know about Power BI:
- What is Power BI?
- What are the benefits of Power BI?
- What are some of the challenges of implementing Power BI?
What is Power BI?
Power BI is a customizable, user-friendly business intelligence and analytics tool created by Microsoft.
With options for interactive data visualizations, customizations for dashboards and reports, and more, Power BI can be leveraged by organizations to help them get the most value and usage out of their data, make accurate predictions and drive informed decision making.
Common use cases and features of Power BI:
- Data Visualization: Customize charts, graphs, tables and more to create interactive reports and dashboards.
- Data Modeling: Create connections between different sets of data, develop data hierarchies and more to drive effective data analysis.
- Data Transformation: Cleanse and transform data with options for merging, grouping, filtering and more to prepare data for analysis and other use.
- Data Connectivity: Connect Power BI to other data platforms (databases, Excel, SharePoint, etc.) to ensure the seamless flow of information.
- Data Security: Keep data secure by defining access rights, implementing security features and more.
- Reports & Dashboards: Monitor and analyze data through an intuitive and customizable suite of visualization tools.
- Collaboration: Seamlessly collaborate across teams and ensure all users have access to the information they need to succeed.
What are the benefits of Power BI?
- User-friendly interface that drives seamless data visualization.
- More real-time visibility, faster ways to conduct data analysis and many options for customization, allowing businesses to leverage data to the full potential.
- Seamless connections with other data sources (cloud service files, databases, Microsoft products, etc.) to allow the seamless flow of information.
- Streamlined collaboration across teams and departments.
- Mobile accessibility to keep people connected and informed on the go.
- Robust security options to keep data secure.
- Pricing options that range from free versions to paid subscriptions, providing a cost-effective and scalable solution.
What are some of the challenges of implementing Power BI?
From integrating data from various, unconnected sources to understanding how to effectively design a data model, there are many different challenges that can come alongside the implementation of Power BI.
Other key challenges include optimizing performance, ensuring data is kept secure and up-to-date, and of course, ensuring all users are properly trained on how to utilize the Power BI functionalities you choose to implement.
Especially considering that Power BI offers many options for customizations, it is important to consider hiring a skilled consultant to help you establish the right configuration, overcome implementation road bumps and get the most value out of these incredible tools.
From assessment and planning to post-deployment support and user training, a skilled Power BI implementation consultant will be there to guide you every step of the way, eliminate implementation challenges and show you how to get the most value out of your data.
Looking for a Trusted Partner?
DLC is a professional services firm helping companies drive transformation and growth, one project at a time. Our team provides flexible, efficient, on-demand execution of your financial projects.
Contact us today to learn more about how we can help or explore our services below.
