Microsoft Power BI Helps Smaller Businesses Use Data Like Their Larger Peers
It’s no secret that today we are living in a data-driven world. While larger enterprises are taking advantage of data-driven processes, and enjoying success, smaller businesses are by-and-large missing the boat.
Business analytics explores company and customer data and presents it in useful ways, making this information accessible and truly valuable. This visibility helps business leaders make better decisions and leads to more growth.
Microsoft Power BI business analytics does just that. Power BI has once again been named a leader in Gartner’s latest evaluation of the BI and analytics market.
Microsoft Power BI is a cloud-based business analytics software that enables organizations to analyze data and presents it in a clear way that allows executives to make informed decisions. Power BI continues to give companies of all sizes a competitive edge – but how? How exactly does business analytics provide an advantage for organizations and why is it so important? As a small business, how do you make the most of the data you collect?
An alarming statistic is that over 50% of businesses lose sales opportunities due to the lack of necessary information; however, in these cases they likely have the relevant data – they just don’t know where it is, as well as how to access and use it.
Findings & Insights From Business Analytics
Business analytics and business intelligence tools like Microsoft Power BI effectively display all of an enterprise’s data, enabling data interrogation and data mining – in order to make all data accessible to the organization. With these tools, you’re able to discover hidden data, identify areas of improvement, plan for the future, and deliver more unforgettable customer experiences for future growth.
A few common insights revealed with business analytics include:
- In-depth customer information
- Website engagement metrics
- Industry breakthroughs / spikes in revenue
- Wasted resources / lost revenue / financial constraints
- Past performance benchmarks / targets & more
Microsoft Power BI is quite simple to set up and understand – especially for those who have experience working with Microsoft Office 365 and Microsoft Excel. The cloud-based software can be accessed on mobile devices at any time, too.
ADS Business Intelligence can leverage Power BI to deliver analytics to help you run your business or organization.
Some additional resources:
June 13, 2019
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September 5, 2017