What is Power BI used for?

Power BI has become an essential tool in the business world. It allows you to convert vast amounts of data into valuable and actionable information, a cornerstone for any company looking to succeed in the digital age.

The Business Analytics degree at Universidad Europea will provide you with the necessary training to manage this tool in the professional world, offering you a solid theoretical approach that will allow you to recognise the differences between Business Intelligence and Analytics and their different applications.

What is Power BI?

Power BI is a business analysis solution developed by Microsoft that has established itself as an essential tool in the business environment. This service enables users to transform chaotic data into coherent and visually impactful information, thus simplifying strategic decision-making.

At the heart of large enterprises and innovative startups, Power BI stands out for its ability to provide real-time insights. This enables executives and data analysts to lead with evidence-based information.

The tool specialises in integrating diverse data sources, creating interactive dashboards and reporting. Its focus is on critical areas including:

• Data integration 
• Analytical modelling 
• Data visualisation 
• Collaboration and sharing

Key components of Power BI

As we have already mentioned, Power BI is characterised by its ability to facilitate the analysis of complex data. Below, we break down two of the main components of this powerful tool:

• Data Connectivity: Power BI enables seamless integration with multiple data sources, from simple spreadsheets to complex databases, ensuring that the most relevant information is accessible.
• Data modelling: allows users to transform and manipulate data to create analytical models that accurately reflect business reality.

What is BI in business: Examples

Power BI has established itself as an indispensable tool in the business environment thanks to its ability to turn data into business intelligence. Below, we will explore how Power BI is applied in the business environment and the tools it offers to empower decision making:

Business uses of Power BI

• Interactive Reporting: Interactive reporting is a key application of Power BI. These allow users to explore data and get answers in real time, making it easy to identify areas for improvement and opportunities for growth.
• Real-time dashboards: Real-time dashboards provide instant insight into the current state of the business. This is key to making decisions quickly and based on up-to-date data.

Power BI tools and applications

• Power Query: This tool enables the collection of data from multiple sources and its subsequent preparation for analysis.
• Power Pivot: Power Pivot is essential for creating complex data models in Power BI.
• Power Map: allows users to transform data into geospatial visualisations, which is particularly useful for market data analysis and logistics route optimisation.
• DAX (Data Analysis Expressions): Power BI formula language that enables users to develop advanced calculations and analysis in their data models.
• Power BI Service: Power BI cloud platform that simplifies the publication of reports and dashboards, enabling efficient online access and collaboration.
• Power BI Mobile: applications that allow access to data and reports from anywhere, providing flexibility and mobility to users.

The future of Power BI in the job market

Power BI proficiency is becoming an increasingly in-demand skill in the job market, foreshadowing a promising future for those who master it, making programmes such as a master in Business Analytics or a master in Digital Business even more important than ever. In an environment where companies are looking for professionals capable of interpreting data and converting it into business strategies, Power BI is positioned as an essential skill for professional success.

If you are interested in this sector, the Universidad Europea offers a wide variety of Business and technology degrees where you can find out about the ones you like the most.