The old saying “knowledge is power” has never been more true than in today’s business world. There is so much information out there, and so much knowledge you can derive from that data. But, what’s the best way to do it?
Microsoft Dynamics 365 provides built-in business intelligence capabilities that give you greater insights into your information. With those insights, you can make better decisions and increase your revenue.
What Kind of Built-in Business Intelligence Capabilities Does Dynamics 365 Have?
Dynamics 365 is part of the Microsoft family of products. Microsoft offers Power BI, a suite of business analytics tools that allow team members from across the organization to access insights. It connects to hundreds of data sources, taking information that was previously in isolated silos so it’s actually useful.
Power BI also simplifies data preparation. Data prep can take up valuable time and energy – you need to make sure the information in your files is machine-readable and in certain formats so that users can consume it online. Power BI makes that process easier so that you can focus on other, more important tasks.
In addition, you can publish reports with Power BI. That in and of itself might not be that exciting for many organizations – other business intelligence tools allow you to do that. However, Power BI makes those reports mobile and web-friendly, so that no matter which device someone is using, he or she can still read the report and it will appear the way it was meant to.
Moreover, Power BI allows you to create dashboards that can be shared across the business. These dashboards provide a 360 degree view of the company, eliminating the aforementioned data silos that waste time and money.
You might think that all of this shared information produces a security risk. Microsoft understands that concern, which is why there are built-in governance and security controls to ensure that the right people have access to the right data at the right time. Your information stays secure yet accessible so that you can drive your business forward.
How Can Power BI Help Your Company?
We’ll go back to the beginning of the blog post, in which we discussed the saying “knowledge is power.” When you know there will be a change in the market or a circumstance will arise that could negatively impact your business, you can take steps to avoid it. Conversely, if you see a new market opportunity, you can take advantage of it.
Let’s say that you can see through Dynamics 365 that your customer’s purchasing patterns seem to be increasing. You can use that information to determine what the client’s exact needs are and how you can best meet them. Not only does that strengthen your connection with that client, it can be a more lucrative relationship.
Because Power BI offers you real-time information, you can feel confident that you’re not making decisions based on old or stale data. You can trust that you’re making the best choices for your business.