Which Do you prefer?
Futureproof your data.
Excel is always and has traditionally been the go-to reporting tool for businesses, but do you know other Business Intelligence tools offers powerful analytics and reporting features for organizations that Excel doesn’t? With faster experimentation with visualizations, statistical functions and calculations across broad datasets and ability to derive answers on the fly through the rapid recombination of fields. Explore more as we share Top 10 reasons (+1 bonus reason) why you should adopt a BI tool today!
Excel does have some of the newer charts however they can’t connect to the data model whereas BI tools are built and specialized for Dashboards, alerts, KPIs, and visualizations, including analyzing your data visually.
2. Artificial intelligence, Machine Learning and Internet of Things
Some BI tools monitor dashboard that gathers information to help companies make decisions. Such example is from General Electric where they uses BI tool to enable them to predict repair and upkeep machinery which powers industrial apps to process the historic performance data of equipment that can be used to discern a variety of operational outcomes such as when machinery might fail. This can help schedule preventive maintenance and manage how their equipment is used to improve their operational lifespan.
3. Advance Cross Filtering
All BI tools has the ability to allow advanced features in Cross filtering between charts unlike excel. Hence, you will be able to specify the product you want to see in a specific timeframe at a specific geography region.
All BI tools has the capability of handling larger dataset whereas Excel can handle limited dataset only thus limiting your ability to have a greater picture of your analysis.
5. Dashboard Refreshment
You can refresh data in BI tools multiple time a day whereas Excel does not allow dashboard refreshment. This allow real time data at your fingertip for tracking and monitoring.
6. Easy to learn
BI tools are generally easy to learn depending on the software that you use. Tools like Tableau, Power BI, Sisense, Looker, Qilk Sense, SAP, Domo, Dundas, Board, IBM Cognos, Knime, Google Data Studio and many others.
7. Inpeccable Cloud-based Features
What do you do once you have finished constructing your BI analysis? You need a way to publish and disseminate your dashboards and reports. In Excel this would typically involve emailing a large file around, putting it in a shared drive or SharePoint portal, and letting people know it has been updated. With BI tools mostly offering “publish” this process has been completely revolutionized thus improve workflow efficiency for you and others.
8. Natural Language Query
This feature allows users to type questions and get an answer similar to AI QnA. This is useful for those with specific questions or business users who are unfamiliar with BI tools or the data model behind the report.
BI tools is an easy tool to use that helps propel organizations into a data driven culture. With powerful self-service abilities, business users are no longer dependent on IT for gathering, transforming and analyzing data. Automation of dataset integration, ease of expansion into new data sources, rapid visualizations, and easily deployable Row Level Security are amongst the many reasons BI tools is a necessity where is widely used. Additionally, a cloud-based collaboration environment like Natural Language Query ease the process of data governance. In the current and future age of analytics, it’s import for businesses to intelligently utilize the data they collect to rapidly evolve with changing business and consumer habits.
Excel reports can be normal and ordinary comparing BI tools whereas BI tools offers Beautiful branded reports comparing Excel which can be customized to your business nature..
10. Storing and Accessing Large amount of Data
BI tools has very solid compression abilities for Microsoft Excel and text/.csv files, which allows you to view, analyze and visualize huge quantities of data that cannot be opened in Excel. As your business grows so as your datasets however they don’t have to be trimmed in size and aggregated to show more encompassing analysis.
11. Integration of Data
There are more than hundred to thousand of native software connectors that let BI tools collect data from third-party apps, which can be used to offer insights and give context to business intelligence. This gives companies using BI Tools a way to pull data from apps such as Salesforce, Square, Facebook, Shopify, and many other applications that they use to gain insight on their customers, sales, or product inventory. The extracted information can be used to generate reports and perform various types of analytics such as descriptive/ predictive analytics to spot trends in real-time, such as in product performance, which can be shared to any device used by the company.
Want to Learn more?
At Davoy, we focus on three main pillar of service.
-Purpose: Data analytics & Consulting
-Platform: Data visualization & Dashboard
-People: Data literacy Training
With our in-house analyst, Microsoft Power BI partner and certified training provider we welcome individuals and businesses to help you get started with the tools you need.
Look for Davoy, should you be interested in knowing more about Data, analytics, visualization, dashboard building, AL & ML reporting or even workshop / courses that help you get started with Data.