Data Analysis systems like Power BI are critical to improving efficiency, productivity, and revenue. But some misconceptions hold companies back in implementing such systems.Let’s address five common misbeliefs.
Misconception 1 – Companies which produce a large amount of data are successful.
Not the companies that produce a large amount of data are successful, but how that data is analysed for insights is important. Big data should be analysed properly for better decision making, innovation, creation of new opportunities, improved customer service, efficiency and effectiveness. Power BI is a versatile tool which helps in aggregating, analysing, visualising, and sharing data. It helps the human brain to understand the big and small data as it makes it easier to detect patterns, trends, and outliers in groups of data. The complicated datasets provide a clear and concise meaning with the help of Power BI.
Misconception 2 – It takes a lot of time to pull out data from different databases and structure them to get useful insights.
More than 250 connectors help you to connect to your data sources. With the help of Power Query, it has become easy for power users to shape data to build reports and dashboards that meet the needs of their organization. It enables the automate refreshing data connections to external data sources which help in saving time and efforts. The ability to share queries saves the business users to unknowingly do work that someone has already done within the organization.
Misconception 3 – You need a team of data scientists to take the advantage of Data Analysis Systems.
Anyone from any department can easily use Power BI to meet the requirements. It has inbuilt intelligence which assists you to select attributes for your reports by suggesting the best reporting element. Also, it allows selection of attributes by a simple drag & drop for your reports.The QA feature of the Power BI answers to your queries in a highly visualized manner.
Misconception 4 – It is very costly to implement data analysis systems.
Companies rely on manual processes and excel for data evaluation as they assume that the data analysis systems are expensive and are for companies that have huge budgets. Power BI has three pricing plans to dater to different needs of its customers and removing cost as the major barrier.
- Power BI Desktop – It is free for any single user who wants to clean data, create custom visualisations and publish it to Power BI service.
- Power BI Pro – The Pro plan costs $9.99/user/month but the users can try it for free for 60 days. It allows users to collaborate with data, govern data, build dashboards with a 360-degree real-time view and the ability to publish reports anywhere.
- Power BI Premium – The Premium plan starts at $4,995 a month per dedicated cloud compute and storage resource.
Misconception 5 – Excel can do it all.
Excel is everywhere and is available with most of the people but struggles to handle a large amount of data and fails to offer a wide variety of visualisations. Excel does not guarantee any data security while Power BI can restrict data view to individuals by setting rules.Power Bi is built on Azure, like many other MS Services, ensuring a high level of security.