With the rapidly changing technological advancements and increasing adoption of technologies such as IoT and AI, it has become essential for industries to frequently monitor their businesses. The businesses are striving for a solution that can offer them business intelligence (BI) for better decision making, enhanced forecasting, improved process efficiency, and better time-to-market. Power BI consulting services help businesses do that.
Key challenges faced by businesses due to lack of BI solution
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Analyzing data from different data sources
The organizations collect a large volume of data surrounding their business operations. The issue is that this data is often spread across various sources such as CRMs, databases, and Excel spreadsheets. With this massive amount of data spread across multiple sources, it’s become difficult for a business to get useful insights from the data.
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Considering the right parameters to measure progress
The businesses are quick in measuring the financial KPIs to know their growth but they are not aware of the other parameters which can impact their performance to a great extent. A wide range of appropriate parameters must be used to measure the progress and performance of a business. However, most of the businesses do not have a broad idea around how the data can also be used externally to compare their performance against others in the industry.
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Lack of technical knowledge and expertise
Insufficient technical knowledge and expertise in BI software make the selection and deployment of the right solution difficult for organizations, thereby hindering their ability to fully harness the value of their data. This leads to losses and makes it difficult for organizations to stay competitive in the industry.
Microsoft Power BI’s suite is one such BI tool, which can help businesses overcome the above-mentioned challenges. It converts unstructured and distributed data sets into messages that provision better decision making, thereby impacting business performance and profitability. It also allows businesses to get live 360° view of their business and enable them to explore their data quickly & easily.
How different industries are taking the benefit of Power BI?
Retail
Nowadays, retailers face challenges related to changing customer expectations. Power BI helps retailers to overcome these challenges by giving them a competitive edge. The tool provides retailers with real-time insights into customer needs with the help of interactive dashboards. It also allows retailers to keep an eye on pricing, current inventory, and stock of the products. For retailers Power BI is useful in:
- Identifying key product categories
- Categorizing the yearly sales figures
- Knowing the maximum sales by the product categories
Finance and Insurance
Power BI in combination with technologies such as Microsoft SQL Server, Excel, and MS Azure supports finance and insurance companies to gather, store, and analyze data in real-time. Its BI dashboarding tools help businesses securely connect with a huge volume of data. For the finance and insurance sector Power BI is useful in:
- Monitoring financial performance
- Restructuring the company’s finances and accounts
- Accelerating the insurance claims settlements
Industrial
Power BI allows the industrial sector to analyze the performance metrics in real-time with the help of machine learning technology. The interactive Power BI Dashboard offers support in checking inventory levels and monitoring the supply chain. For industrial sector Power BI is useful in:
- Predictive analyses of a machinery
- Analyzing the expense category
- Monitoring yearly revenue
Healthcare
Using Power BI, the doctors can access important health parameters to make quick decisions during emergency cases. Power BI offers information that can help healthcare companies minimize treatment costs and improve patient services.
With Power BI, businesses across industries are gaining powerful insights to predict outcomes and prevent failures of their operations. Power BI is enabling businesses to ask smarter business questions and get actionable insight faster. Power BI consulting services is helping businesses to access, model, and analyze the data from – cloud, on-premise, streaming data sources, Excel spreadsheets, among others.
How Jellyfish Technologies has helped its client with Power BI consulting services?
- Problem: One of the insurance company was experiencing frequent refresh failures in Power BI Datasets.
- Solution provided by Jellyfish Technologies: We introduced the concept of Dataflow, which helped the client to refresh their data within seconds with a significant decrease in refresh failures. With dataflows, the client was able to run their Power Query logic in the Power BI service to generate data marts before loading them to the Power BI data model.
We improved the client’s way of using datasets by introducing the use of common datasets to increase reusability and decrease the load on their SQL.
How can Power BI benefit your business? Jellyfish Technologies has you covered.
We at Jellyfish Technologies aid businesses in strong business intelligence and help them uncover hidden trends & unknown correlations through interactive visuals of Power BI that support intelligent decisions. We offer Power BI consulting services including dashboards, data management from multiple sources, reporting, interactive visualization, and advanced analytics. Our Power BI consultants have hands-on experience in implementing Power BI services. We have been delivering business analytics services by blending potential of BI tools and our expertise for several years. We would be happy to discuss with you our Power BI consulting services. Please contact us by writing to us at enquiry@jellyfishtechnologies.com or calling us at the numbers mentioned on our website.
Completed Projects
Patra
An insurance aggregation platform
