The development of new technologies has given us completely new possibilities in terms of data analysis and reporting. Work that used to be done manually with the help of spreadsheets can now be automated using Business Intelligence class tools.
What is BI reporting?
BI reporting is the process of gathering data using various programs and tools to obtain relevant information. As a result, it provides recipients with information regarding the company’s current situation and business trends, enabling decision-makers to take action. Such extensive business analytics offers the opportunity to create intelligent reports using modern tools such as Microsoft Power BI. As a result, this solution can benefit your business in terms of stable growth and increased profitability, regardless of your niche or size.
What benefits does reporting with Power BI provide?
1. Faster workflow
This problem is widespread in companies that use dispersed data sources. Managers, departmental staff or important stakeholders can often get bogged down if they have to wait for a comprehensive BI report from the IT department. Then, their aggregation, segmentation and presentation in the form of clear charts can take even several days. During this time, decisions cannot be made, which ultimately translates into global company performance.
Centralising all data sources in one place using data connectors, which can provide a single point of access for all non-technical users in the company, is one of the main benefits that intelligent reporting in Power BI offers companies. The data-driven world doesn’t have to be overwhelming, and with the right BI tools, the entire process can be easily managed with a few clicks.
2. The ability to use real-time and historical data
Traditional reporting methods can be challenging to use and make sense of the vast amount of data being collected. Creating a simple presentation from voluminous information can be challenging for even the most experienced managers. Reporting with a Microsoft Power BI tool is a seamless process. You gain access to historical and current data, which provides a comprehensive view of the business health.
3. A better understanding of customer needs
Customers are the key to the success of any business. It is thanks to them that a company can grow and move up the business career ladder. Over time, however, customers have become more demanding, and their needs have expanded. That is why it is so important to get to know them well. With the help of advanced data analytics in Power BI, we gain the ability to meet their emotional needs and predict their behaviour, making it easy to increase sales and provide seamless customer service.
Without a doubt, intelligent reporting using BI tools such as Power BI also brings tangible financial benefits to companies. Strategic decisions are based on solid pillars rather than predictions or guesswork. So you can quickly and easily improve the efficiency of your work by eliminating inefficient processes or finding niches.