Advanced Data for a Smart Business Strategy
Managing information and exploiting the full potential that data offers may seem like a difficult task in times of globalization. For this reason, advanced use of Power BI can be the differentiator putting organizations ahead of technological trends.
Every day we are bombarded by information that comes from a variety of sources. Television, printed newspapers, magazines, advertisements, social networks, and even conversations with our colleagues or family members. In the corporate environment, this reality is no different. We receive market data, data from the area in which we operate, multidisciplinary performance of the company, among other information that brings with it the need to manage and treat it.
Without planning and organization, the gathering and accumulation of information is of little use.
To solve the organization of information in the right way, the modernization of BI platforms is necessary. Thus, technology specialists must consider the latency of the data and how it will be handled on a daily basis. It is possible to consider/organize this data as follows:
- Real-time data: Aimed at teams that need constant and accurate updates.
- Operational Report: Operational data allows a general management of the production areas.
- Analytical Report: They can be considered in the long term, for an analysis on the operation, sales, trends, in order to support the projection of what would be the new business strategies.
In trying to modernize the BI architecture, current Business Intelligence applications are examined for the grouping of reports or dashboards that serve these three use cases. Once grouped in this way, it will be possible to better understand how the company operates, gain more control over its operation, and gain a much more analytical and complex view of external factors.
In this sense, these technological solutions become a strong ally for corporate managers and those responsible for the different business areas of organizations. The platform has been transforming data into useful information to direct decision makers towards the best decisions and the success of their businesses and teams.
Modern BI solutions excel in automation, flexibility, data handled on reliable platforms, user autonomy, and fast and secure access to information.
The solution can even be integrated with Microsoft Teams, one of the most used platforms for collaboration and productivity among teams. This integration between Teams and Power BI fosters a data-driven organizational culture and is designed to further improve the user experience by encouraging employees to rely on consistent information in their daily activities.
Knowing how to explore the most basic levels of Power BI can already be an important first step to leverage organizational results. But tapping into the greater potential that this technology offers can make all the difference in your market placement, strategic evaluation of your product portfolio, rapid adaptation to industry changes, and even in relation to your supply chain.
Among the features of Power BI that stand out today, we can highlight:
- Automating data generation and management: Use of databases, statistics, and machine learning to reveal trends in sets.
- Benchmarking and performance metrics: Comparing data, evaluating current and historical performance in interactive dashboards
- Statistical analysis: Explore in-depth information gathered and accumulated using statistical concepts (for example, how and why a certain trend occurred)
- Data visualization: Visual representations such as interactive dashboards, charts, graphs, diagrams, and histograms to facilitate data consumption.
- Data preparation: Compile different sources of information, identify the dimensions and prepare them for analysis.
Therefore, this technology allows data to be properly interpreted with the help of Artificial Intelligence and high-performance software to provide an important decision support tool, thus allowing choices to be better informed and thus increasing their chances of success.
In a world where the speed of information escapes our eyes, understanding it clearly is a visionary and strategic differentiator. That's why using Power BI from the most basic to the most advanced level can transform business results, whatever industry you operate in.
To learn more, contact one of the ARMIS experts and follow our profiles on LinkedIn, Instagram and Facebook to stay on top of the special series on Power BI, which teaches you in practice how to exploit the full potential of this tool.
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