Hello everyone, I hope you’re all doing well. Learn Power BI, a powerful cloud-based service that helps data scientists visualize and share insights from their data.
Table of Content
- Business Intelligence
- BI Tools
- Microsoft Power BI
- Google Trend Analysis of Power BI vs Tableau
- Learning resources
- Sample Dashboard
Business Intelligence (BI) is a group of architectures, techniques and activities. BI is a technology-driven process to transform raw information into useful information for analyzing and carrying out lucrative activities to assist corporate end consumers to execute their business plans for an expected SharePoint achievement.
BI has a direct effect on the strategic, tactical and operational business decisions of an organization. BI involves a broad range of tools, applications and methodologies to make a fact-based decision by following the below chronological steps on the data.
- Gather the data from inner systems and external sources.
- Prepare that data for analysis and run queries against it.
- Create reports, dashboards, maps, graphs, charts, etc.
- Make analytical results based on the data visualizations.
Importance of Business Intelligence
- BI turns data into usable information. Raw data doesn’t tell us what to do in business all on its own. BI systems allow for comprehensive analysis of data to identify important trends that can be used to modify or implement strategic plans and to understand the interconnections between different functions and facets of your business.
- BI improves your ROI and ability to achieve goals. BI analysis allows you to understand how best to allocate resources to meet your stated goals. This allows you to increase your ROI by ensuring that resources are deployed strategically to achieve fixed goals, and it helps to prevent “mission drift” or “mission creep” where outcomes no longer align to goals.
- BI’s primary goal is to possibly benefit business intelligence tools including accelerating and enhancing decision-making, optimizing internal business procedures, increasing operating effectiveness, driving fresh revenue, and gaining a competitive advantage over competitors.
- It is generating KPI (Key Performance Indicators) based on historical data.
- The BI systems help companies to identify market trends, identify & set benchmarks for various business processes and spot the business problems that need to address.
- BI data include historical data stored in a data warehouse, as well as fresh data collected as it is produced from source devices, allowing BI tools to have a data visualization for enhancing the data quality and supporting strategic & tactical decision-making processes without sparing its quality.
- BI assists in identifying customer behavior and feedback, analyzing company performance with the past, optimizing company activities, identifying market trends and helping to address any business problems or issues.
- Initially, data analysts and other IT experts who conducted analyzes and generated query results reports for company users used BI tools mainly. It can be used more and more nowadays not by enterprises but by SMEs (Small and Medium Enterprises).
The data discovery, which used to be restricted to the knowledge of sophisticated analytics experts.These instruments offer perspectives into things like growth, solving pressing problems, collecting all data in one location, forecasting future results, and so much more.
Power BI : https://powerbi.microsoft.com/en-us/
Microsoft Power BI
Power BI is a business intelligence platform developed by Microsoft.
- It is a web-based business analytics tool suite which excels in data visualization.
- Power BI is robust, extensive modeling and real-time analytics tool as well as allow for custom development.
- It is allowing to connect multiple data sources for preparing dashboard or reports.
- It is providing a user-friendly interface and excellent data visualization capabilities.
- This software enables customers to integrate their applications and produce reports and dashboards in real time.
- As it is web-based, it is possible to access Microsoft Power BI from almost anywhere. It has cloud based and on-premises data warehouse.
- It targets medium-sized businesses and large enterprises.
There are main key parts of Power BI –
- Power BI Desktop – It is window desktop application to allow developer to build reports and dashboard.
- Power BI Service – It is Online Software as a Service called Power BI Service.
- Power BI Mobile Apps – It’s mobile application for iOS, Window and Android to view dashboard or reports in mobile device.
- Power BI Server – which allow us to publish reports in On-premise version, after creating reports in Power BI Desktop.
Google Trend Analysis of Power BI and Tableau