Microsoft’s Power BI is making it easier for manufacturers to harness their data in a matter of moments rather than months, increasing productivity and driving their business forward.
But what exactly is it and why should you be making it a focus for 2021?
We’ve outlined everything you need to know about Power BI and how it can benefit you and your business.
What is Power BI?
Power BI is a business analytics service from Microsoft that provides users with interactive data visualisations and business intelligence, giving them a capability for data analytics within a simple-to-use intuitive environment.
Cloud-based software, it allows multiple users to overlay multiple data sources, analyse data and create impactful visualisations with the aim of driving impact through insight.
What’s more, it also consolidates valuable data, presenting it in an easy-to-digest format, which enables users to make more informed and insightful decisions.
How it benefits manufacturers
Power BI has the ability to, quite literally, revolutionise how manufacturers engage with their customers while empowering employees to gain insight from big data and optimise their operations – changing the very nature of their business model.
From huge manufacturers to small companies, Microsoft BI is an attachment to the Office 365 package – bringing data to life and providing vital information in a simple-to-understand and easy to access interface.
From identifying opportunities for improvement, trends and patterns to more accurate forecasting, Power BI offers a host of benefits.
So here are just a handful of reasons organisations choose Power BI to meet their self-service and enterprise business intelligence needs.
Supply Chain Management
Power BI allows you to evaluate your supply chain logistics and analyse data regularly to ensure timely deliveries and superior service, helping to keep track of consignment costs while also evaluating performance and negotiating future contracts.
A huge advantage of BI tools is the ability to provide predictive analytics, enabling you to take the necessary actions for improving manufacturing operations; such as scheduling the service of equipment before its condition deteriorates and leads to downtime.
Issues arising in equipment due to poor installation can seriously impact productivity, so maintaining proper functioning of manufacturing operations is vital. The incorporation of data analytics and business intelligence in manufacturing keeps you informed about your machines’ health, while giving you real-time insights into your manufacturing lines.
Forecast product demand
Demand forecasting is extremely important for every manufacturer in order to plan future production, so if you want to analyse future product demands, Power BI gives you the ability to set up your models so that you can run several scenarios at once, providing you with insights to take your business to the next level.
Easy to understand analytics
Power BI creates simplified visualisations of your data that anyone can read and understand at a glance by using official free add-ons, not to mention apps that provide highly customisable graphics – enabling you to digest and present your data as simply or creatively as you wish.
Power BI is changing the way we work
By automating the process of compiling data and connecting it to KPI-centric dashboards, manufacturers are changing the way they do business and intelligence systems like Power BI are making it easier for them.
Power BI allows users to adapt while allowing for more complex, multi data driven and complicated artificial business intelligence-based reporting. Its ability to automate processes and consolidate data also enables decisions to be made faster and more efficiently.
Meanwhile, having access to analytics on the mobile app, alongside tablet and laptop, reduces the time it takes to collate, digest and utilise the information that is so vital to manufacturers.
It’s easy to implement
Implementing Power BI couldn’t be easier, meaning you and your business can start to enjoy its many benefits almost immediately.
The desktop version of Power BI is totally free with the option to purchase Power BI Pro plan to share capabilities with multiple users while Power BI Premium is available to those with a larger budget.
What’s more, it’s compatible with other Microsoft products, meaning you can adapt to the software quickly and easily if you’re accustomed to using Office 365 applications.
Have you considered making the switch to Power BI?
If you’re interested in learning more about how Power BI can impact your manufacturing process, we’re here for you and at Bespoke, we can help your manufacturing business get started with Power BI and set you on your way to data-driven success.
So if you think it’s time for your business to move-on from Excel and get started with Power BI, contact us today for a demo.