Business Intelligence (BI) has seen tremendous growth in recent years. It helps companies to know the changing market dynamics and shifting patterns. With uncertainty looming over businesses, BI has successfully taken the spotlight. The rise of Power BI by Microsoft has attracted more companies to BI as a reliable solution. As per Gartner’s study in 2022, Power BI surged ahead of Tableau Desktop in terms of market share to become a leader in BI.
Why is Power BI so lucrative over other solutions and what do companies gain from it? It helps access real-time data, tracks key performance indicators (KPIs), and helps companies improve their business. As Power BI leads the analytics market, the myth that only MNCs and IT titans use BI has started to fall apart with small businesses also preferring to use Power BI.
Since small and medium-sized enterprises (SMEs) have limited resources, Power BI’s intelligent decision-making visualization helps them to make informed decisions. Transitioning their businesses to mobile-friendly set-ups is no cakewalk for SMEs. Power BI makes it possible for them with real-time business insights.
Hiring a Power BI developer helps SMEs to maximize data exploration, achieve dynamic requirements, and meet their business objectives.
How Can Developers Help Companies with Power BI in Leveraging Data & Analytics?
1. Developing Power BI Dashboards
Power BI dashboards use graphics to tell a story. A Power BI dashboard enables you to track all key indicators. You can change dashboards and generate visualizations from datasets or reports. In your applications, you can use Power BI dashboards for customer analysis, product sales analysis, marketing campaign analysis, and financial performance analysis. You can share these dashboards with other employees.
Industries that use Microsoft Power BI dashboards include IT services, banking & finance, and healthcare. It helps different industries fulfill their critical data-related requirements and manage & store their data. It also helps them in making informed decisions, eliminate information bottlenecks, and track international sales. Analytics and visualization dashboards also help identify issues and prevent production downtime and disruptions.
Check out our blog to know how you can use Power BI in Banking & Finance industry.
What Power BI Dashboards Should Include?
- Well-designed data visualization - Identify which campaign is ineffective & dips in ROI.
- The correct context - Use appropriate charts in the proper context with clarity.
- The option to choose dates - Enable campaign reporting to track many time periods.
- Interactive widgets - Use data filter based on country, city, device, campaign, etc.
- Data comparison – To compare selected data with the exact data for the previous period.
What are the Common Mistakes in Dashboards?
Here are some "should-dos" and "better-not-dos" that you should be aware of while developing dashboards. If you want to design innovative client-centric dashboards, these are the most serious errors frequently made that can be avoided.
- Inaccurate chart orientation - Not using charts to display variations and data categories.
- Labels - The labels appear diagonal and appear trimmed completely.
- Excess visuals - Dashboards shouldn't have more than ten pages. It's complicated to understand. It distracts the intended audience with cluttered images.
- Dashboard creation without a layout - Before you begin, sketch your dashboard. If you create a dashboard and have it reviewed, it results in many redo’s and a loss of time and effort.
2. Project Management Reporting with Power BI
When working on a project, you need to know its status, progress, and performance. Power BI enables you to project progress and detect errors if anything is not going as planned. You can develop different types of reports in Power BI as per your requirements.
In a nutshell, Power BI enables outputs from reports and allows you to engage with the data. Consider the scenario where you see a schedule and realize it is running behind.
3. Power BI Advanced Analytics
Power BI gives you the ability to build predictive models using advanced analytics, empowering you to make informed decisions based on the data you have collected through all operations. You can develop predictive models using Azure machine learning with data components.
- Data Analysis Expressions (DAX) – Developers use DAX language for Microsoft Power BI to assist in computing data for business analytics and to produce novel insights.
4. Power BI Integration
Various tools make up the Power BI data integration tool that help you to -
- Extract and transform data using Power Query
- Visualize data using Power View and Map.
- Model and analyze, using Power Pivot.
Combining data from several platforms using API-level Power BI interfaces is possible since data connectors remove the need for credentials from other apps. This results in streamlining the administration and configuration of data sources. Hence, you can set up unique Power BI automation to build an appealing dashboard.
5. What do Power BI Consulting Services Companies Like Clarion Offer?
As a Microsoft Power BI consultant, we have an in-depth understanding of the platform. We have a large pool of qualified and certified developers in Clarion Technologies. They can work on short-term and long-term projects as Power BI specialists.
These programmers offer their help in all aspects of Power BI. They assist companies in analyzing and visualizing data and sharing insights organization-wide. We help you assign an experienced developer for your project with MS SQL and Azure knowledge.
Here’s how our developers helped a client from the healthcare industry with Power BI. Check our Power BI case study above!
Clarion Technologies provides Power BI consulting services. Our developers understand the challenges our clients face and help them with data management and advanced analytics. With our Power BI developers, our clients get access to all our resources that we have acquired over the period of two decades along with our experience. We have partnerships and appropriate certifications that prove our credibility.
The additional benefit of hiring a developer from us is that we provide a testing professional for quality audits. This helps us to ensure reduced development time with high-quality bugs free code, ultimately increasing faster time to market for product delivery.
It’s our responsibility to help our clients with their requirements, extending an olive branch by solving their challenges. You can count on us as your partner and not as a vendor. With our guidance and assistance, we will help you achieve business growth and help you reach your full potential.