Data analytics across all industries is surging, and over 60% of all businesses collect and extract value from data on a daily level. They use these data insights to better understand how they spend, where to invest and compare themselves to the competition and the market itself.
With tools such as Microsoft Power BI, advanced data analytics is no longer reserver only for enterprises and companies with the deepest pockets. You no longer need a separate IT department that will deal only with collecting, sorting and analyzing data – one app can replace all of that if you know how to use it properly.
This article will give you some important reasons why you should get into data analytics and Power BI, even if you run a smaller company. As you are about to see, getting into Power BI will be well worth your time and will pay off big time as soon as you start implementing data analytics into your day-to-day business operations.
Microsoft Power BI isn’t something you can casually browse through. Although learning Power BI is easier than you might think, getting familiar with the software and implementing it into your workflow takes some time. Because of this, many SMB owners think how learning Power BI is overkill for a company of their size and how they should spend their time on something more urgent that can benefit their business in the short term.
This is not the right approach, and we have to say it’s shortsighted.
The benefits Power BI offers are numerous:
- Put your data to use – collecting information on its own doesn’t mean much if you can’t put it to good use. Power BI processes all the data collected, helping you visualize it, putting meaningless numbers into actionable pieces of information to better your businesses.
- Customizable – Power BI lets you choose what you want to collect and analyze, as you can fully customize its dashboard to your needs.
- Secure – all of the information Power BI processes is stored in the cloud. That means you don’t have to worry about data loss, and you can access the information from anywhere. However, you shouldn’t use Power BI as a place to store your data – use it only for processing. For data storage, you should implement a data warehousing solution.
- It’s Microsoft – because a tech giant like Microsoft is behind Power BI, you can expect it to get frequent updates forever. Power BI integrates with all of the other MS products you are probably already using, such as Excel, Azure, Office 365, OneDrive, and similar.
Power BI can help any business perform better, and yours is not an exception. Understanding and utilizing this tool will help you spend and invest smarter and optimize daily activities, which is just what might get you an edge over your competition.
Data Bear helps companies like yours become more data-savvy through Power BI training. We will help you understand which data to collect, how to analyze it, and where to implement it. Contact Data Bear now, and unlock your full business potential through Microsoft Power BI!