Create interactive dashboards and automate your work with Power BI
The field of Business Intelligence has been improved with an easy and quick business intelligence tool for effective Data Visualization & Data Management – Power BI. This Business Analytics service by Microsoft brings together raw data from various sources like a simple spreadsheet on a desktop to cloud-based data. Simple, fast, robust and enterprise grade, it tends to be utilized by non-specialized individuals to visually analyze and share data.
Clients typically ask about how can they use Power BI easily or what kind of visually appealing dashboards and reports can be created to make informed business decisions?
Here are a few of the use-cases where Power BI dashboards and reports can make a difference in the angle of seeing data.
- Financial reporting
- Sales scorecard
- Resource Management
- Claims, billing, and collection report
- Inventory optimization
Besides of Power BI helps you solve the problem of data visualization and sharing on time, one of the biggest advantages of this tool is that the desktop version of the software is free, which means even small businesses on a tight budget can benefit from the visualized data.
Apart from that, Power BI enables users to use up to 70 various connectors – you can directly connect into your systems such as SAP, Salesforce and many others. Moreover, a live connection into your databases or tabular models is possible so you do not have to refresh your data manually. On the other hand, you can also easily create your reports with Excel files, flat files, or import pre-prepared Python or R scripts to visualize some AI insights.
When you connect a data, Power BI brings you a powerful tool implemented within the Power BI Desktop version called Power Query Editor. This editor enables users to prepare, transform, clean data and then load it to the reporting layer ready for further usage.
After you finish your work on Power BI reports or dashboard, another great feature is available for you – you can publish your results in the cloud-based environment called Power BI Service and share them across your entire organization or even with your external users. You can access your reports via browser but also via mobile phone or tablet.
Typical uses cases
1. KYC And anti-money laundering by AOsint
Know Your Customer (KYC) compliance is designed to protect companies against fraud, corruption, money laundering, and terrorist financing. At Deloitte, we can help our clients to facilitate greater levels of trust and transparency by using our Automated Open-Source Intelligence engine (AOsint).
Nowadays, analysts can spend hours perusing the vast amount of publicly available information (PAI) on the internet and even longer reporting on it. But AOsint can screen this information through the Internet automatically for you and save your time and money.
AOsint can recognize potential risky customers based on various risk categories such as Anti-Bribery and Corruption, Anti-Money Laundering (AML), or Informal Value Transfer System.
It can recognize relevant risk categories and sub-categories reflecting KYC/AML cases, can also score based on pre-defined risk sentiments and find negative stress symptoms and provide users with geolocation insights based on AOsint feature of places tagging.
2. TPRM as a monitoring tool with risk alerts
This specific Use Case shows how our clients can detect potential third-party risks using it as a monitoring tool with risk alerts. Thanks to AOsint tool and financial data, by having an overview on companies and some details about KPIs and risk categories.
It brings an overview of Financial KPIs and Articles over time for the last 4 years.
After identification of early signals, deeper view is available by providing users with information about development in Financial and Operational KPIs in last 4 years.
3. HR Automated Report
HR Automated Reporting allows your employees to focus more on complex tasks such as decision-making and strategy development and increases the overall efficiency of the entire HR department. By automating standard and repetitive HR activities related to data collection and preparation as inputs to Excel or Power Point reports. Organizations can reduce the cost and time which they spend by manual reports preparation because they can spend this time on other activities.
Some other Use-Cases
What benefits can Power BI bring to you?
The beauty of Power BI is that you can look at each element to make better decisions. Its advantages are numerous. Power BI offers a full summary of company data in visual form, with display choices such as tables, charts, gauges, and maps, making it easier for teams to use it. At the same time, this tool also support you in terms of Data Management disciplines – Data Quality, Data Security (Row Level Security) etc.
Its benefits include:
- Connecting and export of the data to Microsoft Excel.
- Easy and quick sharing of data across all systems like windows, android and IOS.
- Easy learning if you are familiar with Excel’s Power Pivot and Power Query.
- As this Business Intelligence tool is powered by Microsoft, there is always help at hand for you to learn from and network with other clients in terms of tips and exercises.
- Reasonable cost for viewing the Power BI dashboard making this Data Visualization tool worthy of your investment.