Power BI Reporting: Key Tool in The Move from Old Normal to New Normal
Data is today’s digitized companies’ most valuable asset. It enhances decision-making, predicts consumer behavior, identifies market trends, boosts marketing efforts, etc. But before deriving all these values, you must collect, analyze, visualize, and share the data among your workforce. And that’s where Power BI reporting comes in handy – a business intelligence solution that enables your workforce to create sustainable reports with interactive data visualizations.
Curious to discover more? Perfect! This blog will show you how to achieve true sustainability with Power BI reporting. We’ll also discuss some of the data advantages that Power BI offers. So let’s get down to business, shall we?
Defining True Sustainability in 2022
A few critical issues stand in the way of many organizations that endeavor to achieve true sustainability today. These include:
- Concerns over the environment
Let’s take a closer look:
The geopolitical landscape has changed significantly since 2014. Today, there are fewer countries that have a stable political system. That means businesses operating in those regions will face greater challenges than ever before. For example, suppose you’re a company based in Europe or North America. In that case, you may find yourself dealing with an unstable government, which could mean increased costs, decreased productivity, and even legal troubles.
Concerns Over the Environment
Many people believe that environmental concerns are on the rise. However, when it comes to the economy, they often go hand-in-hand. As the world population grows, so does the demand for food, energy, and other resources. If this trend continues, then the environment will continue to suffer.
Today, customers expect their products to be environmentally friendly. They want to know about the materials used, the manufacturing process, and the impact that each one has on the environment. If your organization isn’t able to provide them with answers, you risk losing out on potential sales.
Talent acquisition is no longer a simple task. You need to ensure that your team members have the right skill sets. Unfortunately, this is easier said than done. Many employees lack the necessary training to perform specific tasks, making it challenging to complete projects on time.
As technology advances, new tools emerge that make it easier for employees to perform their job functions. For example, AI (Artificial Intelligence) allows machines to learn from experience and improve performance over time. Similarly, machine learning helps computers become smarter by analyzing large amounts of data. Power BI reporting allows you to gain access to real-time data from multiple sources, such as IoT devices, social media platforms, and financial services providers. With this information at your disposal, you can quickly build reports that allow you to make informed decisions.
So what does this have to do with Power BI reporting? Everything! While traditional BI solutions were designed to meet the needs of IT departments, Power BI was built to empower every employee within your organization. With its intuitive interface, anyone can easily access and understand data without spending hours training.
Now that we’ve covered the critical sustainability issues facing organizations today, let’s talk about how Power BI reporting can help address these problems.
Data Advantages of Power BI Reporting
When it comes to data analysis, Power BI is unmatched. Here are just a few benefits that your organization may enjoy by investing in this one-of-a-kind business intelligence platform:
Real-Time Data Visualization
One of the most significant benefits of using Power BI reporting is that it provides users with real-time data visualization capabilities. This means that you can view your data as it happens. Thus, it gives you the ability to react quickly to changes in the market. You can also use this knowledge to make wise decisions that benefit your company.
Another key feature of Power BI reporting is analyzing large amounts of data. You can do this without having to write any code. In other words, you don’t have to worry about spending hours trying to figure out how to create custom formulas. Instead, you can focus on more important things, like analyzing trends and making predictions. Further, you can quickly find answers to questions like “How many people visit our website each month?” and “What city has the highest number of visitors per day?” You can also share these insights with others within your organization via email, social media, and other channels.
When it comes to security, Power BI reporting offers several advantages. First, you can share your reports with anyone who needs access to them. Second, you can restrict access to specific individuals. Third, you can protect sensitive data by encrypting it. Fourth, you can set up alerts to notify you whenever someone tries to change your report. Finally, you can add authentication tokens to prevent unauthorized users from accessing your data.
According to CMS Wire, 84% of the economic value of customers comes from retention. But to retain your existing customers, you must first invest in a business intelligence solution that provides real-time insights into your customers’ buying habits, product engagement rates, repeat purchases, and more. By doing so, you’ll identify areas where you can improve your products or services. And the reward? It will help you keep your current customers while attracting new ones.
Sales performance is one of the most critical factors for running a successful business. According to McKinsey, companies that use business intelligence solutions, infusing creativity and purpose with analytics, outperform those that don’t. Hence, you can gain an edge over competitors by providing salespeople with timely information regarding your customers’ preferences. This will enable them to better understand what’s happening in the marketplace.
But you’re probably wondering, how do you draw value and focus more on the data reports generated by Microsoft Power BI? That’s where PBRS (Power BI Reports Scheduler) comes in handy. PBRS enables you to automate the scheduling and distribution of reports and dashboards. With this solution, you can schedule reports to run on specific timelines, e.g., monthly, weekly, daily, or hourly.
And did we mention that everything is automatic and dynamic with PBRS? That’s right! You can automate Power BI Reports to members of your workforce by simply leveraging data in your database to automatically populate various sections of the report, including the destination, format, email address, body text, and more.
Over to You!
The key takeaway here is, having the right technology in place for easier team access to data is one highly sustainable way to overcome the critical issues discussed above.