These days a very few people are aware of the concept of Business Intelligence. With the coming of new age tools to solve the data management crisis, many companies have started moving to use BI. The latest tool by Microsoft, Power BI tool aims at helping everyone with analysis and visualization of data.
What Is Business Intelligence (BI)?
Even after becoming one of the biggest domains, Business Intelligence is still an alien topic to 50% people. Putting it into the simple terms, it can be said that Business intelligence (BI) is a set of tools and techniques which are used for transforming the raw data into useful and meaningful information for analyzing the business. BI, in other easy-to-understand words, is the technology which lets the right people get the right data at the right time, thereby, helping them to make more effective business decisions.
The changes experienced by BI in the past few years can be divided into 3 waves –
1st Wave: Technical (IT To End User)
Amid the primary rush of business knowledge, the end client must be reliant on the IT office for information experiences. This is on the grounds that it was unrealistic for end clients to make perceptions/provide details on their own as devices accessible required specialized information. This reliance on IT office for knowledge led to more endeavors and time utilization to complete the updates.
2nd Wave: Self-Service (Analyst To End User)
Analysts gained access t BI in the second wave. Presently, individuals with some learning of analytics could utilize BI instruments. This implied more groups approached BI and more individuals could have better information which facilitated the role of IT teams.
3rd Wave: Everyone (End User)
With the third wave, it became very easy to access the data and create reports. With the introduction of tools like Power BI helped in making this transition easy. Now anybody with the basic understanding of data can easily make reports.
Data Visualization and Its Importance
More or less, information visualization is only the pictorial or graphical portrayal of data/information. It gives bits of knowledge into complex informational indexes by imparting the key angles in progressively natural and important ways. Information visualization lies at the convergence of plan, communication and data science.
Despite the fact that information perception has been named as the key ability for research in the twenty-first century, it goes way back to the late eighteenth century when William Playfair developed geometrical diagrams. His bar charts were utilized to show Scotland’s imports and exports for 17 nations in 1781. These bar diagrams comprised an unadulterated answer for the issue of discrete quantitative examination.
Importance of Data Visualization –
Due to the way a human brain processes information, it is super-easy to make use of charts/images/graphs in order to learn and to visualize large chunks of complex data. This is way better than going through spreadsheets or reports. Since images are the simplest collection of pixels, they can carry large data easily. Moreover, any data in visual form can be understood easily instead of reading the same in text form.
Data visualization can help in –
- Identifying the hidden patterns and key areas.
- Getting the factors which render better customer info.
- Analyzing as well as associating data/products properly.
- Making proper predictions.
In the Business Intelligence market, Power BI has become quite the name. The team at Microsoft worked together to build this combination of data analysis, strong visualization, and a cloud-based tool.
In simple words, Power BI is defined as the business analytics service offered by Microsoft which renders interactive visualizations that has the capabilities of self-service business intelligence. This helps the end users in creating reports as well as dashboards on their own, without depending on the IT team.
Power BI Services are the cloud-based BI services which are provided by Power BI only. Its offerings include data discovery, data preparation, and interactive dashboards. An additional service called Power BI Embedded on its Azure cloud platform was released by Microsoft. This service helps the user to analyze the data easily and execute various ETL operations and send reports by using Power BI.
Though Power BI gateways, you can connect many data sources like analytical services, SQL Server databases to your dashboard in Power BI. Also, you can embed Power BI reports and dashboards, thereby, delivering a unified experience.
Need For Power BI
Following facts make Power BI as one of the conspicuous devices for data visualization –
Spot trends in real time: By using traditional BI tools, you limit yourself to chronicled analysis. By utilizing Power BI you can get to ongoing data so you can recognize the trends at an early stage. With its help, you can distinguish issues and improve performance.
Search hidden insights automatically: With Power BI, you would be able to look for informational collections for concealed insights in seconds by using Quick Insights. Clients can essentially make inquiries and Power BI Q&A will address their inquiries with prompt impact.
Custom visualizations: With Custom visuals, Power BI enables you to picture information in pretty much every conceivable way you can envision. In this manner, you are not constrained to something that lies in the box.
Enterprise-ready: By using Power BI and Power BI Desktop, you can safely interface with your own on-premises information sources. With the On-premises Data Gateway, you can associate live to your SQL Server or any other information source. It gives safe, adaptable and dependable enterprise-grade information technology.
Enroll in Power BI Certification Training to develop dashboards from published reports, discover greater insight from your data with Quick Insights. Microsoft Power BI Training at Learnoa will help you achieve expertise in business analytics.