Make better decisions with Power BI
The legend of Power BI is spreading.
Released to public by Microsoft in 2015, the free data analysis and insight tool is being widely adopted.
Install Power Business Intelligence (BI, for short) and you can look forward to
- Self-service real time dashboards
- Interactive visualizations to bring your data to life
- Self-service analytics
Some real examples of the difference dashboard analytics can make to business success.
In mid-2017, the investment advisory and management group directed by Stuart Pearse was looking for a tool with which to effectively analyse client portfolios to evaluate investment opportunities and risk.
In a blog, Pearse mentions that in the past, his firm manually assessed the portfolios of clients from custodial investment holdings data. Each portfolio was analysed against policy guidelines specific to the client and when investment opportunities came up, it would take at least 24 hours to prepare recommendations for each client. This limited growth for the client and Pearse’s company.
When he had a whirl on the dashboard suite facilitated by Power BI, Pearse discovered a way to analyse clients’ portfolios through the client’s own strategic lens.
The pools Power BI offered for Pearse as an investment advisor
- A dashboard built on Azure Cloud
- Portfolio management rules built in – it’s easy to see at a glance when re balancing is required and the structure of each portfolio
- email alerts automatically notify client advisers when portfolio adjustments are required
Xero loves to work with Power BI, too. Xero is, in its own words, “proudly integrated” with Power BI because Power BI can analyse accounting data and create actionable insights.
In fact, the list of supportive software is growing and growing.
Organisations, apps and SaaS proud to proclaim they can integrate with Power BI include Datacom, MYOB, Blackball Software, Spark on Azure HDInsight, SharePoint, Office 365, Dynamics 365, Hadoop, Google Analytics, SAP, Salesforce and MailChimp.
Enlighten Design is another Kiwi customer which has successfully integrated with Power BI. An app developer and systems integrator, Enlighten Design knew that customers wanted to make organisational decisions from data analysed effectively, allowing business users to ask questions and get answers themselves instead of waiting for IT to generate a report. Enlighten integrated Power BI with Microsoft Excel and voila – easy insights all set.
Another example: Waikato Institute of Technology (Wintec), has been using Power BI to identify students in danger of dropping out. Then there’s Carnegie Mellon University School of Architecture’s Center for Building Performance and Diagnostics. This tertiary institute partnered with OSIsoft to create a Power BI-based solution called PI System that allowed them to track energy usage and wastage in its laboratories.
Condé Nast, the global media company, has been compiling data on the performance of its industry-leading print and digital media brands and analysing that data through Power BI. The list of blue chip clients using Power BI goes on and on – even Real Madrid has been using the tool to analyse social media data to customise marketing campaigns.
So how does it all work?
Head to https://powerbi.microsoft.com/, click a button and begin your integration journey. The app will ask for permission to run on any device you wish, be it a tablet, smartphone or PC.
Soon you’ll have:
- Key Performance Indicators matched against data evaluators
- Information on conversion rates from your different sources of lead generation.
- Monthly goals and targets that the business sets
- Managing projects
- Marketing strategy planning
Ready for it on your desktop? Cool. Click away. https://powerbi.microsoft.com/en-us/desktop/
The author of this blog, Aaron has many years of experience in setting up business intelligence tools for businesses in New Zealand. Aaron’s new venture, Statslab is committed to provide high-performance business intelligence through reporting, monitoring and consultation with customisable dashboards. Contact us.
Have a go on our interactive dashboard example and let us know what you feel in the below comments.
Transforming your data to help you make better decisions.
Aaron from STATSLAB was very easy to work with and explain their BI concepts and methodologies very clearly. The Business Intelligence that they offer was once reserved only for large corporations but they make it affordable for small to medium size business, giving us powerful data tools to compete with the big boys.
STATSLAB was very easy to work with. They were able to explain Business Intelligence concepts to lay-people, and how Business Intelligence could assist the Auckland Table Tennis Association in improving its everyday business.