Business intelligence is a far fetched term. Something that most small businesses are scared to venture into. And there are many reasons for it. To begin with, business intelligence is something that most companies think requires heavy investment of money as well as resources.
They think that you need to have a full-fledged team on your side, if you want to invest in business intelligence. Similarly, there is often a misconception that business intelligence is only for the people who have their organizations large enough to reach out to a global audience.
On the other hand, most people assume that since their manual work on excel sheets is already doing the job, why is there a need for business intelligence after all. But, if you monitor closely from the past years to today, there have been significant developments that tell you about the importance of leveraging data for your business.
How many companies do you see from the past few years, making it to the top list of companies today? The answer is only a handful and that is because, the ones who understood the importance of data and went onto leveraging the latest techniques, are the ones flourishing today. On the other hand, the businesses that are still relying on their traditional practices or took too long to embrace the digital wave, were left behind in the race.
What Difference Does a Business Intelligence Software Make?
A business intelligence software creates all the difference in the world. It is a collection of tools that eases your tasks at different levels. In fact, it takes it from where it was to a front running enterprise in the market. And apart from this, it is also something that helps you manage your data pipeline effectively.
Now, if you want to understand what a business intelligence tool does for you you have to dive down to understanding the underlying problems with data.
- Your data might be lying scattered here and there on different platforms
- Your data might be coming in from different sources
- You might need to view everything holistically
- Separate platforms will have separate reporting styles and more
While some of your data might be an excel spreadsheet, it might also be on cloud based or on premise data warehousing solutions.
- One of your teams might want a certain representation of data while other teams might want separate
- You want to derive insights from data
- You want to figure out what is important
- You might want different accesses to data, so that your teams can view the data but restrictions must be imposed for safekeeping and others
These are only a handful of examples where data problems exist in an organization. These could be greater or lesser depending upon your existing data pipeline. However, in all these scenarios, even in the presence of data you cannot do anything. And that is the case with most of the enterprises running today.
Most organizations fail to understand the importance of a single tool for most of the tasks. They rely on a variety of tasks instead and have manual labour to do it all. However, when an organization receives blk orders or they start scaling, that is when the problem comes.
Even at a small level, while many don’t realize, organizations lose a lot of their data in extraction. That is when they manually pick data from each of their sources, they lose it and that’s when a chunk of the insights are lost. Similarly, manual labour is always prone to errors.
Fitting Into Different Roles
However, when you use a business intelligence tool, all this is put to rest. Power BI by Microsoft is a power packed business intelligence tool that helps you achieve all that you want without any difficulty. No matter which role your business fits it, it has a series of tools that answers all your questions.
- It has a window desktop application called the Power BI Desktop. This helps you manage all your excel files in one place and help find out what’s important in them
- Power Bi also comes in mobile applications for Windows, Android as well as iOS devices
- Similarly, Power Bi is also a Software as a service application that is entirely cloud based and can manage the data you have on your data warehouse
- A report builder tool is offered by Power BI that helps you create all your reports as desired by your respective teams. These are more often than not known as the paginated reports
- Just like the reports, Power BI also helps you create a report server which is basically an on-premise report server. This is where you can publish your Power BI reports once you create them on the desktop version
In addition to this, Power BI has different features and you can use them depending on the needs of your organization. In case you are using the business intelligence tool as a developer, you might want to push data into datasets.
Alternatively, you might also want to embed the dashboards and existing reports into the custom application that you build. This means that you might want to use Power BI to create new visuals and share them with others. Similarly, if you are working with co-workers, you will want to monitor the progress and perform on the sales quota, or your peers might do this. On the other hand, you can also use Power BI for the role of an administrator, business user, enterprise report creator and others.