Top Benefits of Power BI You Must Know [Updated 2024]

March 1st, 2024
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Power BI Benefits

Power BI holds a good number of users due to its undeniable benefits and features. Leveraging its useful tools, businesses are performing much better then before. If talk about the market value, the global business intelligence (BI) market is rapidly growing at a staggering CARG of 8.7%. Hence, by 2028, it is expected to touch $43.4 billion, according to the Business Intelligence Market report issued by Fortune Business Insights.

Big Data is powerful in the sense that it holds the doors to great success. However, not all businesses have the means to tap into it, as it gets stored in different spreadsheets, databases, third-party platforms, and apps. Microsoft Power BI is a tool that aims to solve this problem. This blog will give you the top benefits of Power BI. As a Power BI developer, you must know about these.

What Is Power BI?

Why Power BI

Data holds the ultimate power and hence, every business must incorporate the best resources and tools to extract meaning from it. This is where the imperativeness of Power BI comes into the picture.

Built by Microsoft and released in July 2015, Power BI is a powerful data visualization and analytics platform that aids businesses in managing their data. The BI here refers to Business Intelligence, incorporating the processes, technologies, and strategies used by a company to facilitate data-driven decision making.

Top Benefits of Power BI

Before you set out to learn Power BI, it is important you gain information about the benefits of Power BI. These points will help you realize what a rich platform it is.

  1. Interactive Personalized Reports & Dashboards

Power BI has plenty of report and dashboard options. These aid in creating interactive outputs that are also highly customizable. These unlimited visualization options in reports and dashboards enable us to collate, present, and summarize information in an appealing and straightforward manner.

Benefits of Power BI
  1. Integration with Multiple Data Sources

One of the key benefits of Power BI is its ability to use multiple data sources at the same time. It provides brilliant data source integration, from Microsoft products to third party sources and tools to server databases or data files.

All of these leads to the organization making the most of a powerful data analytics and visualization platform.

Power BI Integration
  1. Cost Saving

There was once a time when data analytics and business intelligence were tagged as premium services, costing a premium price. While it is still true to some extent till date, a lot of change has occurred due to the efforts exerted by Power BI.

Today, Power BI has brought about comparatively more affordable options for businesses of all sizes and nature. Hence, at almost a fraction of the previous cost, companies are able to enjoy this leading analytics platform.

  1. Integration with Other Microsoft Apps
Power BI Integration

Power BI has a built-in functionality that allows it to support and integrate various other Microsoft apps PowerApps, OneDrive, Excel, etc. Hence, it is able to take advantage whenever the need arises.

  1. No Geological Barrier

Since it is a cloud-based platform, Power BI servers do not experience any geological barrier and are not limited by location. An organization and its employees can access Power BI, check their dashboards and reports, and resume their work from any part of the globe, provided they have a stable internet connection. In fact, it can also be accessed via smartphone applications, and is not limited to desktop or laptops.

You May Also Read- Job Opportunities In Power BI In 2024

  1. Real-Time Information

There is now no need to go through the entire process of dashboard or report generation from the beginning. Power BI helps in updating the reports and the dashboards with the latest data in real-time.

  1. Regular Updates

Yes, Power BI is an impressive and a powerful blend of capabilities and tools. However, it is also a software that is a work in progress, and is constantly being upgraded. Power BI sprouts regular and frequent updates, which keeps on adding to the list of features and benefits.

  1. Collaboration & Sharing

Power BI also makes it easy to share dashboards and reports quickly with both internal and external users. We are talking about real-time collaboration here. In fact, Power BI allows teams to work together on a report simultaneously.

Power BI Apps
  1. Artificial Intelligence

In addition to being a data analytics and business intelligence platform, Power BI also has robust and powerful AI skills. Microsoft is considered a pioneer in artificial intelligence, and it has passed the same to the Power BI suite. Whether it's building ML models, finding insights from unstructured and structured data, or preparing data, everything happens at a much faster pace.

  1. No Specialized Technical Support Needed

Power BI is a self-service platform and does not require an IT or technical professional to analyze, create, and run reports. It is extremely user-friendly and usable by everyone, irrespective of their tech knowledge. Its natural language interface, drag and drop tools, and graphic design tools, make creating dashboards comprehensible and easy.

Conclusion

The best way to get started in your career as a Power BI professional is to go for a Power BI training. You could also prepare with the help of a Power BI tutorial, blogs, community, and videos. While there is no official Power BI certification, it is important you get trained by the best so that your skills get validated. There are endless benefits of Power BI, making it a platform of the future.

Power BI Benefits FAQs (Frequently Asked Questions)

Question. Which feature in Power BI is most useful?

Ans- The best feature of Power BI that is also the most useful is its data visualization properties.

Question. What are the most useful advantages of Power BI over Excel?

Ans- Most useful advantages of Power BI over Excel lies in the former's ability to analyze humongous amounts of data, providing a 360-degree view of its customizable dashboards, and setting alerts on the KPIs.

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