- July 23, 2021
- Posted by: Patrick Ngotho
- Category: Power BI
You have come across the term ‘Big Data’ severally by now; but have you comprehended what it means? Just how big is big data?
Picture this; Over 2.5 quintillion bytes of data are generated every day around the world. It is estimated that by 2020, 1.7MB of data will be created by every single person in the earth every single second. These stats were revealed by DOMO Inc’s 2017 report of ‘Data Never Sleeps’.
This Big Data is of course fast-tracked by the Internet of Things (IoT) and also by the fact that we live in a digital-first world. We are all at a risk of suffering from Information overload which more often than not impedes the decision-making process, resulting in a poor (or even no) decision being made.
What this mean?
To Business owners and employers, data is an integral part of their business success as it informs and influences key business decisions. Various industries produce different kinds of data and for each one of them, the key question is how to process it and convert it to meaningful and useful information that can be used in the various departments for business growth. This is where Business Intelligence comes in.
Business Intelligence is a process that involves several steps including data mining, data visualization, data processing, analyzing and reporting. This process helps managers to come up with actionable information from raw data either derived from the field, from trends and statistics or from the company’s operations. Some Business Intelligence tools include Tableau, SAP Business Objects, QlikView and Power BI.
With its proven track record in the field of technology, Microsoft came up with one of the most important tools in BI, Power BI. It is a powerful yet free analytics tool that allows businesses to process, visualize and analyze company data for use in the company’s operations.
Why use Business Intelligence tools for your data
Personalized Dashboards – The dashboards in Power BI can be customized to every company/business hence allowing for personalization.
Extracts Business Intelligence Accurate and Fast – Power BI enhances decision making in organizations as it extracts data fast and is almost 100% accurate.
No speed or memory constraints – Its accuracy and fastness ensure that you do not face constraints while processing large amounts of data hence saving time and money.
To gain valuable insights – You can gain powerful and valuable insights that help your company grow. This could include customer insights, competition insights, purchasing behavior, among others that ultimately help in making key business decisions. Business also get a better return on investment (ROI) with useful company information as it boosts productivity, lowers operations costs hence higher chances of success.
Forecasting – With Power BI, you can tell the past, current and future of your business or company. This helps businesses to plan better hence increasing business success.
Boost efficiency – Investing in a Business Intelligence tool will help boost efficiency hence improving productivity.
Information Access and sharing – It’s easier to share information that has been processed and analyzed with colleagues so that each department can act on it. One can also access information whenever they require it and wherever they are.
Responding quickly to business queries – Managers can respond to business related questions that have an impact on the business.
No more guess works – Make decisions based on the real facts and timely updates.
Now you decide
Power BI can help you understand industry/market trends and keep you constantly updated on any changes. This helps businesses make decisions that enable them to stay ahead of their competition. We also developed two demo Power BI dashboards, these will help you visualize what Power BI is capable of.
Sunesis is an industry leader in the development, customization and streamlining Power BI solutions. We also conduct tailored Power BI training to companies that wish to develop their internal Power BI capacity.