Microsoft’s Power BI is a significant advance that can level the playing field for your small business.
Small to medium-size businesses often struggle with implementing company-wide analysis programs because of the high cost associated with big data reporting and assessment. Besides the high cost and complexity of implementing analytic solutions, a business owner had to spend money to train someone to be able to read and interpret the information.
Affordable High-End Analytics
Microsoft Power BI eliminates these barriers, offering the same level of performance analytics that big companies use for a fraction of the cost. Power BI is a cloud-based business data analysis application geared specifically for the small to medium business.
No matter the size of your company, the importance of big data and programs that analyze it correctly are essential. Collecting, assessing, and interpreting data from all pertinent business activities is the way to move your company forward quickly. From sales to production, manufacturing and delivery, Power BI gathers information from all departments on a daily basis, then presents that information to the user.
Easy to Use and Understand
Business intelligence historically has required data scientists and technical experts. Power BI eliminate the need for technical experts and enables non-technical business managers to analyse data and make decisions. Power BI provides a series of user-friendly dashboards and color-coded spread sheets designed to be user friendly and easily understood. By connecting users to a broad scope of data pertaining to all aspects of their business, it allows for rapid analysis and the ability to focus on areas of concern immediately. Because Power BI runs analytics daily, there is never a lag time for fresh data.
Top Benefits of Power BI
- Your Data Belongs to You. No longer do you have outside companies storing your data and providing it only after a lengthy request. Your marketing data, lead and website tracking data, and sales data are all kept in-house and available at the touch of a key. This kind of “information immediacy” and internal resource tracking allows your company to make quicker decisions, resulting in faster turn-around and reduced costs. With Power BI you own the data, you mine it yourself and perform the analysis of that information on-site and in-house.
- Quicker and Better Decisions. For a small business to stay competitive and ahead of the curve requires quick responses on important business decisions. From determining the best mix of products to carry to selecting the best suppliers based on cost and quality analysis, quick decisions are key. The faster an informed decision is made, the sooner you can move product to market. Power BI gives your company the back-story on all data interpreted with the express intent of helping you make the right decision. When you know which markets are growing and where demand is flourishing, you can take advantage of that dynamic instantly.
Because Power BI runs its analytics daily, any deviation in performance will be reported to you. Whether it be marketing shifts, sales force lulls or inventory movement above and beyond regular patterns, when you are made aware of an issue at the moment it occurs, you can focus your energies more closely on resolving an issue. Being this agile and resilient in the milieu of a small business is key to success.
- Low- Cost.Power BI offers enterprise-level data analysis at a fraction of the cost. Because it is a cloud-based service, you pay a low monthly fee and enjoy all the benefits the big companies pay thousands of dollars to deploy. As a small business, anything you can leverage to enhance your bottom line helps you stay competitive.
Big data collection and analysis is no longer reserved for the larger companies. Smaller companies need to take advantage of every resource they can to stay competitive in the modern business world. Power BI was created with small to medium-sized businesses in mind to level the playing field. When you are ready to move your company into the data fast-track, please contact us.