However, to process raw business datasets and acquire insightful outcomes, businesses should consider implementing data visualization tools like Power BI within the digital infrastructure. Microsoft Power BI’s ability to integrate with enterprise applications, third-party tools, and data sources makes it easier for businesses to transform massive raw datasets into interactive visualizations and reports.
By effectively leveraging these visualizations/reports, leaders and stakeholders in organizations can extract key insights and make strategic decisions. In simpler terms, implementing visualization tools like Power BI is quintessential for businesses aiming to adopt a data-driven culture. Moreover, leveraging the latest trends and innovations is crucial for organizations looking to maximize the Power BI platform’s potential and drive data visualization return on investment (ROI).
Significance of Leveraging Trends with Power BI Consultants
Microsoft Power BI community consistently develops and launches innovative functionalities or upgrades related to artificial intelligence analytics, storytelling, self-service BI capabilities, data security and governance, etc. However, in-house data teams in organizations might not be aware of these latest innovations and feature releases. In-house data teams are often overburdened with repetitive processing and reporting responsibilities, making it difficult to keep track of Power BI trends and implement those for better visualization outcomes. In this regard, organizations should consider partnering with a reputable Power BI consulting services Provider to capitalize on the latest innovations and trends.
Dedicated Power BI consultants regularly review the community’s official update logs and documentation section, thereby keeping track of the latest releases/trends. Moreover, consultants participate in the Power BI community’s preview programs to test, understand, and adapt to potential trends or innovative functionalities. Hence, by working with dedicated Power BI consultants, businesses can adopt key trends/innovations and tap into advanced data visualization and reporting capabilities. Some of the key trends that Power BI consultants help businesses adopt are mentioned in the next section.
Key Trends of Power BI and Its Industrial Applications
- Augmented Analytics
Power BI tool has recently embraced augmented analytics to automate data processing and generate predictive insights. Augmented analytics refers to the utilization of artificial intelligence (AI), machine learning (ML), and natural language models for advanced data processing and analysis. Currently, these models are available within the Power BI’s analytics engine. By leveraging these models, massive raw business datasets can be easily cleaned and transformed without any manual intervention, reducing the time and effort required for data preparation and analysis.
Industry Use Case:
Power BI specialists help manufacturers effectively leverage augmented data models for advanced processing and predictive analytics. For instance, consultants leverage the intuitive ML-based anomaly detection model for predictive maintenance of manufacturing equipment. Specialists configure the anomaly detection model and train them with historical maintenance datasets. After the configuration and training, experts integrate them with equipment monitoring systems like SCADA. This integration enables Power BI’s anomaly detection model to consistently evaluate the field device’s real-time operational data against trained datasets and flag potential equipment anomalies instantly when deviations are found. By leveraging these insights, field experts can implement appropriate maintenance measures in advance and overcome manufacturing equipment failures or downtime.
- Sustainable BI
Sustainable Power BI dashboard templates in Power BI are designed to assess and visualize data related to energy sustainability factors like energy consumption and resource optimization. These dashboards are capable of processing real-time data streams of energy utilities and generating reliable visual insights. By leveraging these insights, energy production enterprises can ensure that their operations align with sustainable practices.
Industry Use Case:
Developers from a reputable Power BI consulting company configure the sustainable BI template and build an exclusive time series-based energy consumption monitoring dashboard for renewable energy enterprises. Consequently, experts train the underlying time series algorithm in the dashboard to analyze consumption patterns and relationships across different energy utilities over time. After the training phase, Power BI experts integrate the monitoring dashboard with functional energy management systems utilized by enterprises. This integration enables the dashboards to extract and process key data points autonomously and generate chart or graph-based consumption visualizations across different time intervals. By leveraging these insights, energy supply administrators can identify utilities that consume more energy over time and take appropriate optimization measures to save energy resources and costs.
- Embedded Analytics
Another emerging trend in Power BI is embedded analytics inclusion. Embedded analytics refers to the integration of Power BI dashboards or reports in enterprise applications. Power BI offers embedded dashboard and report templates that consist of pre-built AI analytics models and APIs/data connectors. By configuring and training intuitive analytics models, Power BI experts develop custom dashboards for organizations and integrate them within their customer relationship management (CRM), ERP, and other integral applications. This integration enables the dashboard to process datasets and display visual insights within the application’s interface.
Industry Use Case:
Power BI developers effectively configure the embedded templates and build customer segmentation and sales and revenue dashboards for retail businesses. These dashboards are integrated within the CRM applications used by retail businesses, enabling retail CRM administrators to acquire reliable visual insights. For instance, Power BI experts build and integrate the customer segmentation dashboard within the CRM to process customer records and display a visual chart of customer categories based on demographics, purchase frequency, engagement levels, etc. These visual insights enable administrators to plan and execute targeted remarketing activities and drive sales.
- Storytelling Reports
Storytelling report templates in Power BI is an advanced visualization functionality that transforms raw data into visual narratives. These data-driven narratives are easily interpretable and highlight key trends and patterns. Manually assessing data and preparing story reports is time-intensive. On the other hand, storytelling report templates minimize the time and effort required to process data and generate insights.
Industry Use Case:
Power BI specialists effectively leverage automated storytelling report functionality for healthcare marketing. The specialists configure the storytelling report templates and integrate them with electronic health record (EHR) systems. Consequently, after integration, experts program the report template to process data related to patient feedback, satisfaction reviews, and surveys and transform them into visual narratives. These narratives can be embedded in the social media posts, email campaigns, and websites of healthcare firms, thereby establishing trust and credibility among potential patients and care seekers.
Closing Thoughts
To sum up, leveraging the above-mentioned trends is crucial for industries looking to maximize the value of their data and optimize key operations. However, to implement the Power BI platform effectively and leverage the latest innovations, organizations should consider hiring skilled professionals from a Microsoft Power BI consulting services provider. Apart from implementation and trend adoption, Power BI specialists offer maintenance and support services for organizations. This ensures businesses can future-proof their data visualization initiatives and improve operational efficiency.
