Future of Business Intelligence in 2022 - By analytics Training hub
In today’s competitive time companies rely heavily on data, and looking into the future of business intelligence in 2022 is the only factor with which the organization can hope to control any unforeseeable circumstances about the business in the coming future. But getting reports or generating them has become very difficult because of the amount of data that has increased over the past decade. The old-school processes have become a lot harder to employ and a new system and a new way of doing these tedious and monotonous processes need to be implemented. As a result, leaders of the company spend almost more than half of their time reading and analyzing data which causes a delay in major decision-making procedures.
According to the Harvard business review almost close to 90% of the data is often missed out on by the naked human eye.
The process tends to be tedious and at times infuriating which is the reason many firms have still managed to stick in the game after switching over to future technology with Business Intelligence (BI) systems in the hopes of automating this time-consuming process. One of the most world-renowned tools in business intelligence is the Power BI platform.
What is Power BI?
Power BI is a business analytical tool that aids the leaders of the firm with a well-informed decision. It is done with the help of a visual dashboard that transforms massive data into reports viewable by the decision-makers of the organization.
The portal is available on an onsite domain or a cloud domain, so that the operator may access data on call from any remote location. The future of Business Intelligence in 2021 lies in the implication of Power BI.
What is the importance of Business Intelligence?
According to a study featured by Accenture, close to 79% of executives firmly believe that organizations that fail to embrace the change brought about by big data will eventually succumb to their competition and fade away with time. The need of the moment is not additional data, but rather an organized and timely way of acquiring data, and that is where Power BI steps in.
Power BI’s unique feature and algorithm allows the user to connect and create a link with multiple data sources and allow a constant update of data in the Power BI dashboard or report to register any changes that might happen at the initial or original data source, helping colleagues and the decision-makers of the firm to constantly make a precise and informed decision for the benefit of the organization and recreating the perfect Future of Business Intelligence in 2022.
Power Bi’s unique feature leads to real-time interactive analysis which proves extremely helpful to the narrative of being able to contemplate and fabricate insights drawn from the data collected. The data being accumulated is constantly updated due to the link created with the help of Power BI that helps to ensure precise analysis and an effective approach of decision making resulting in better results and a better understanding of the changes that had occurred and the decisions taken in real-time. The Power BI application helps the firm and the user to employ insights not visible to the normal person and at the same time stay ahead of the competition.
What will make Power BI so popular in the future?
There are a few features that may be responsible for the sharp rise in the utilization and employment of the Power BI tool:
Cloud Service
Power BI Desktop works on a system on the site integrated with the application. But, the need for accessing information on the go has given rise to cloud computing services. Cloud servers are employed by organizations to allow the user to access company data from anywhere across the globe. Power BI server is one such feature that enables the user to access data on the go with a link established by the operator to the Azure cloud service offered by Google and that works seamlessly to create a hassle-free connection by employing the Power BI server tool. The compatibility of Power BI with the cloud servers is uncanny and serves as an integral link to connecting Power BI’s business intelligence features with any dataset stored over multiple styles of cloud services available in the market. Which helps put Power BI on the map as one of the best business intelligence tools in use.
Mobile access
Microsoft has ensured the access of Power BI over smartphones as well. The Power BI application is available on multiple smartphone devices which currently employ 3 basic and the most popular styles of Operating systems on mobiles, namely: –
Android
iOS, and
Windows
Over the past few years, Power BI has launched several mobile-friendly features that help the user access important dashboards or insights. Which might often come extremely handy before a meeting with the top management or with a top client. The mobile features include the refresh feature option, which helps the operator stay ahead of the competition and always have an upper hand in the market. The user may also choose multiple reports and merge them into one to grasp the bigger picture behind the data.
The updates might be minor, but over the past few years, the reviews of Power BI users have changed. The features may not be noticeable at first, but with time users have found to grow a liking towards the feature also known as Power BI Mobile.
Connections
Power BI assembles several sources of data from distinct data sources. The unique selling point of Power BI is the links that the tool can create with several data sources across multiple domains.
Power BI allows the operator to extrapolate data from multiple sources like Microsoft Access, MS SQL Server, Microsoft dynamics etc. Power BI is completely compatible with all Microsoft cloud server services and other Microsoft suite products. Power BI can extract one data file from each of the services and compile it to give the user a complete integrated dashboard to showcase the bigger picture.
Power Platform
In 2018, Mr. Satya Nadella – the CEO of Microsoft announced the ‘Power Platform’. The platform merges the processing powers of Power BI with the other tools in the Microsoft suite. Tools like PowerApps, VirtualAgent, and MS Flow combined with the power of Power BI are employed to empower the “Developer Community” to fabricate systems based on the flow of the data. The idea behind the initiative was to design a lighter-code suite of tools bringing about a revolution and helping anyone to become a “Coder”.
AI abilities
Power BI operates in tandem with Azure cognitive services to fuse artificial intelligence with business intelligence. Azure services include Text analytics & vision services like: –
Sentiment Analysis
Keyword extraction
Language detection
Image tagging
Each service has its way of understanding and interpreting data. The different services depending on the distinct type of data the user wishes to be analyzed and employ the relevant services accordingly. Power BI accumulates the data generated by these self-operating services and compiles them to showcase a visual representation of the insights hidden in the data.
The AI abilities of Power BI enable the user to adapt according to different projects and campaigns and gain insights that no one ever thought were possible.
Since its initial launch in 2013 Power BI has come a long way and left a mark in the data industry. Moreover, it is not just the data industry that has seen the capabilities of Power BI but many other markets where Power BI has proved itself as the pioneer of the Future of Business Intelligence in 2022. Power BI seems to be on the path of revolutionizing the world used to see data which seemed like a tiring and tedious activity. The Power BI revolution will help its users see data in a whole new way.
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