Microsoft Excel reporting in Power BI
When it comes to reporting tools for business, Microsoft Excel has been the preferred software, but the introduction of Power BI onto the market has seen a massive shift for a number of reasons.
The shift from Microsoft Excel reporting to Power BI
The enhanced visualisation, statistical functionalities and calculations give some idea as to the why Power BI is taking the lead, but here’s a more in-depth look.
What is Microsoft Excel?
This has been a popular data source platform for many years now, providing users with sufficient functionality for most operations. However, has Business Intelligence and Business Analytics have evolved, Microsoft Excel has been outplayed somewhat by Power BI.
What is Power BI?
Microsoft Power BI is a multi-functional business analytics’ solution that provides easy data access, enhanced visibility and sharing capabilities. These can also be embedded into an app or website platform.
What are the advantages of Power BI over Excel?
While Microsoft Excel can still serve a purpose for the more basic business functions, Power BI has the advantage in a number of more sophisticated business areas. However, it’s important to note that Microsoft Excel can also work with Power BI in a number of areas.
1. Data visualisation and storage
Power BI has compression algorithms for Microsoft Excel and text/.csv files for importing and caching of data. This allows for the visualisation and analysis of massive data quantities so large data sets don’t have to be cut down or aggregated. Power BI allows for the modification and preparation of data, including:
- Transformations and edits
- Adding relationships within different tables
- Adding new datasets easily as additional useful data comes to light
- Reduction of the repetition of data
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2. Data trends
Power BI has built-in Business Intelligence features which makes analysing trends extremely simple. Even massive amounts of data can be quickly viewed, as it can be categorised by dimensions (time-date) or attributes for even easier analysis.
3. Data manipulation
Power BI’s compression algorithm, as mentioned above, allows for much easier data manipulation. This means that information from multiple sources can be imported onto one dashboard, allowing for easy comparisons, application of analytics, chart creation or visualisation of reports. Power BI’s data modelling means data can be extracted directly from the cloud, on-premise or hybrid systems without manual imports and exports.
4. The content pack
Power BI comes with a out-of-the box content allowing for insight directly through the source. Data can then be viewed through live dashboards and interactive reports, as well as allowing businesses to customise their own content packs.
5. Predictive forecasting
Power BI uses predictive forecasting to detect the weekly, monthly or annual steps in your data and predict the future. It is able to analyse the data and actually selects the best algorithm to run a forecast for your particular organisation.
6. Mobile friendly
Power BI is a mobile-friendly app suited to iOS, Android or Windows which allows for business flexibility and ease of access to full dashboards and reports. The Power BI mobile app also has extra functionalities such as the global search function which allows users to search for dashboards, report or groups by name.
Read More: 10 key benefits of Business Intelligence
Power BI is an effective business tool in getting companies ahead using data-driven capabilities. As businesses become more dependent on the gathering, transformation and analysis of data, software tools like Power BI are a necessary investment for business growth.
Canvas Intelligence provides granular business intelligence solutions to help companies track operational efficiencies, control budgets and manage costs in real-time.