Reporting tool for individual data analysis
Power BI as a Microsoft program has officially existed since 2015. Why should such a tool be used for reporting and what can you create and achieve with it?
In the following article we answer these questions and would like to bring you up to date as briefly and effectively as possible:
- Why Power BI will become even more important for reporting in 2022?
- Benefits and returns from using Power BI
- Possibilities in Power BI
Why Power BI as a reporting tool?
Every company has tons of data available. However, these are often not clean. This is referred to as the so-called data quality. Furthermore, there is often a lack of “know-how” on how to use the data correctly and in an expanded manner. Mapping business figures is quick and easy, but gaining advanced “insights” from these numbers often becomes complex. What was previously often done using Excel or a scripting language can now be done quickly, easily and efficiently with Power BI. Power BI is the all-rounder which uses ETL (Extract, Transform and Load) process works. With over 300 connectors (Power BI connectors) virtually any data source can be connected. Power BI is able to read, transform and visualize data in any state.
Benefits and returns of Power BI
Power BI has the big advantage that it can be used to achieve a “single point of truth” (SPOT). The problem with Excel is often that the reports are distributed via email. Any recipient can make changes to it and different versions already exist. With Power BI, there is only one report online in the Microsoft service. This can then be referenced. From this, each user can create their own dashboard, which always refers to the same data model. This ensures standardization within a company.
Power BI offers simple and practical solutions for every industry. Simple, quick analyzes can be carried out, such as financial figures, sales figures, inventory levels or even relevant employee figures.
However, Power BI is already developed in such a way that you can quickly get deeper insights into the data. To do this, Power BI uses artificial intelligence (AI/AI) but also very easy-to-use visuals and measures.
Here is a rough overview of the Power BI cost model:
- Power BI Desktop
- Cost: Free
- Report file is only available locally and must be shared manually
- No “single point of truth”
- Power BI Pro
- Costs: approx. 10 Fr. per user per month
- Power BI service available
- Automatically update your reports
- Dataflow for data query possible
- Power BI Premium
- Costs: approx. 20 Fr. per user per month or 4915.60 Fr. per capacity per month
- All the features of Power BI Pro
- Dataflow also enables data transformation in the cloud
- Machine learning possible
Insights and opportunities in Power BI
We at redIT Business Solutions are convinced of Power BI and have tested Power BI to its limits as a reporting tool. You can see this for yourself on our homepage with the Covid Examples Report (Covid Dashboard redIT).
Data connection
The data is queried daily directly and automatically from the BAG website using a data flow. Data cleaning and data transformations also take place directly in the data flow. This means that the report can directly access the cleaned data cube.
KPIs
A KPI (Key Performance Indicator) is a key figure that is relevant to the business or analysis. It indicates the behavior of an object over a certain period of time, for example how the financial year is going or how sales are going per business unit. Many are pre-built and ready to use by Power BI. You can also create and use your own measures and KPIs using Dax functions.
Power BI also offers external developers the ability to build their own visuals. We are excited about Zebra BI. Zebra BI works according to IBCS certification (IBCS standards) and is therefore well represented in finance and also in business figures in general. We have applied the new card visual of it in our report. This compares two selected periods of time and provides valuable insights. In the visual itself, further configurations regarding view and structure can be made, which makes the visual very dynamic.
General visuals
Power BI already has a huge range of visuals integrated. All of them can be configured very specifically, so we can visually keep up with the BAG dashboard. The visuals are also interactive and you can carry out various filter settings and drilldowns on them. Specific formatting can also be carried out, which dynamically adapts to new data and thus provides the user with an optimal user experience.
Our service
We have the “know-how” about Power BI and are constantly developing it further. Are you interested in Power BI or would you like to see what a report with your numbers would look like? Then get in touch with us for a non-binding assessment hour. – We also do individual ones Training offers tailored to your needs.
Become part of our Power BI community
Our goal: One “Power BI Wednesday” session per month on the monthly updates and innovations in Microsoft Power BI.
I will too DU Part of it!