In today’s world, agility is more important to businesses than it’s ever been. Facing a challenging financial climate and highly competitive markets, organizations know that everything depends on their ability to adapt and anticipate, swerve out of disaster’s way, and seize valuable new opportunities. Businesses need every advantage they can get – and that’s why many are turning to Power BI data insights to get the edge.
Let’s look at why that is. But first of all, some readers may be wondering…
What is Power BI?
Power BI is Microsoft’s flagship business intelligence tool, designed to help organizations make better decisions. Business data is used to find valuable insights that can be explored and used for the good of the business.
Dashboards, charts and graphs, reports – Power BI provides all kinds of ways to visualize and share data. Want to see how sales are going across your product portfolio? Give Power BI the right data, and it can give you exactly the overview you need, as well as predictions for the future. Power BI’s analytics functionality provides great data modelling capabilities, including the ability to create powerful machine learning models.
Microsoft Power BI real-time data analytics
Organizations now generate more data than ever before. For some, this data is coming from point-of-sale devices. For others, it may be coming from sensors monitoring their machinery and the conditions in their facilities. This data is generated all the time and, if harnessed, can provide some of the most valuable, up-to-the-minute insights. Microsoft Power BI real-time data analytics allows you to do just that.
There are all kinds of possibilities for a wide range of organizations, but for the purposes of this article, we’ll focus on the following industries:
Predicting machinery faults and discovering optimization opportunities
Manufacturers can gain great advantages from using analytics and predictive modelling. Factory machinery can now deliver data on matters such as output and performance. In turn, Power BI can be used to gain insights into this data – for instance, to see how operations might be optimized, or even to predict imminent breakdowns. With capabilities like these, manufacturers are able to ensure their facilities are always operating as well as possible, boost resilience, and stay one step ahead of future pitfalls.
Optimizing retail operations and better serving your customers
Retail businesses can also benefit greatly from Power BI business insights. Using stock and sales data, they can see which products are flying off the shelves – and adjust their orders accordingly to ensure there’s always enough supply available to meet demand. They can see when seasonal spikes and drops are likely to occur and accommodate them, then adjust their prices and offers. And, with real-time in-store insights, sales associates and other staff can be empowered to fulfill their roles even more effectively.
Improving healthcare decision-making and patient experiences
Power BI enables fast, easy access to real-time patient data so healthcare workers can act swiftly and decisively, making more informed decisions. Insights can also be used to improve patient experiences – for instance, indicating where staffing or operations can be adjusted. Sensitive patient data can be safeguarded by governance policies and access controls, ensuring that data those who need to can access it, but the provider always complies with regulations such as HIPAA.
Helping the energy industry to become more efficient and effective
Energy industry organizations can improve their operations to become more efficient and sustainable via Power BI business insights. It can otherwise be difficult to gain visibility across operations, but with Microsoft Power BI real-time data analytics, energy producers can get a clear, up-to-the-minute sense of production and consumption across their networks. And, as in the manufacturing industry, energy organizations can also use predictive analytics capabilities to forecast equipment issues, create more effective maintenance plans, and see where improvements might be made.
Ready to start harnessing Power BI data insights?
As you can see, the potential benefits of Microsoft Power BI real-time data analytics are huge. Consider your own organization: can you think of any ways that easier access to the latest data could mean more agility, better operations, and ultimately a greater competitive edge?
If you can, let’s talk. The Bauen Group’s experts are dedicated to helping our customers to make the most of the rich possibilities offered by Power BI business insights. We’ll be happy to explore how this powerful business intelligence tool can give your organization the edge you need for the future.
Want to discuss how your organization can become more agile and boost growth thanks to Microsoft Power BI? Get in touch with us today.