To outperform their rivals, businesses must harness the power of data to make informed decisions. With vast amounts of information at their disposal, organizations can utilize business intelligence (BI) to unlock valuable insights and drive growth. In this article, we explore the significance of BI and how it can revolutionize the way businesses derive value from their data.
Imagine having an application that could identify opportunities for growth and help you make the right moves. With Microsoft Power BI, this is no longer a pipe dream but a reality. Power BI offers a comprehensive set of tools that help you analyze data, identify trends, and stay competitive.
Business data is valuable. When utilized properly, it can enable small- and medium-sized businesses (SMBs) like yours to discover growth opportunities. One way to harness the power of data is to use business intelligence (BI) tools. Multinational companies have been using these tools for years with the assistance of experts who help make sense of massive amounts of data.
Businesses use Microsoft Excel for many purposes, including creating formulas, planning budgets, recording expenditures, and more. A spreadsheet can handle limitless amounts of information, making it an extremely useful tool for storing and analyzing data such as text and numbers.
Before, hiring specialists to analyze business data entailed costs that only large companies could afford. This was one of the reasons why small- and medium-sized businesses (SMBs) were hesitant to implement business intelligence (BI). But times have changed.
Most of us don’t normally associate Business Intelligence (BI) with small- or medium-sized businesses (SMBs). The huge investment required to hire data-delving specialists makes us think BI is only for larger organizations. But this is no longer the case.
A dashboard is a single display that provides all the information you need to make important business decisions and manage your company. While dashboards are generally helpful, you need to choose the one that works best for your company’s objectives and goals.
Investing in customer relationship management (CRM) software is absolutely essential for small- and medium-sized businesses that want to up their sales performance. It helps sales departments understand their clients, tailor their marketing efforts, and more.
Are you making the most of your business’s greatest assets? The data your employees and customers generate is an unsung hero, just waiting to take your business to the next level. Obviously, enough information can help any company make better decisions, but how can a small or medium-sized organization use data analysis to increase revenue?
Many businesses shy away from data analytics due to the perceived costs and resources required to get anything of value.
As machine learning, digital storage, and analytics software get more advanced, data is becoming more valuable than ever. Even businesses that don’t rely on data to operate are starting to find ways to get more value out of their information. Microsoft’s newest platform is an excellent example of that -- and it’s free!
What is Power BI?
Released in the spring of 2016, Power BI is Microsoft’s business analytics platform.