Worldwide, businesses of varying types are dealing with huge amounts of data on a daily basis. This has become a prerequisite for sustenance and growth nowadays. Just gathering the data from various sources cuts no ice. These businesses also need to analyze the data using specialized BI applications. Post analysis, the sorted data is presented in a visual format for better understanding. This is known as data visualization. Resorting to data visualization brings businesses a number of benefits.

Understanding the numerous advantages of data visualization

For the workforce in any organization, it is necessary to draw insight from analyzed data, but that is easier said than done. The analyzed data has to be presented in an enticing and easy to comprehend visual format for better understanding. That is why they use BI tools with inbuilt data visualization capabilities. That explains why thousands of entities use power bi solution. 

Listed here are the inherent benefits of using data visualization:

• Businesses using data visualization tools find it easy to spot trends, regardless of the niche. When they can identify emerging market trends, they can make strategic decisions before the rivals do, and that gives them a competitive edge.
• By using data visualization, businesses can identify issues that are affecting productivity adversely. They can understand departments that are lagging behind others, and it also becomes easier to spot markets where sales are sluggish. Then they can take remedial steps and resolve these hurdles better.
• Data visualization gives businesses insight into customer mindset. By using BI tools with data visualization features, they can understand which products are liked the most by target buyers and what are the least liked products. They can revamp the product range accordingly. By using the data, they can learn about the performance of services and products region-wise as well. 
• With data visualization, businesses can identify areas where they are incurring extra costs. Post the pandemic, every company wants to reduce operational and running costs beyond doubt. When they can identify areas where the extra cost is being incurred, remedial measures can be taken. They, for example, can detect which vendors are charging more and seek replacements thereafter. 
• With data visualization, businesses can keep a tab on sales and growth, region and time-wise. They can figure out if sales targets are being met in every market or not. It also becomes easy to track the performance of the employees' overtime. 
• By using data visualization, businesses can make better predictive analyses, and this can save them money and save them from making mistakes too. It becomes easier to understand the feasibility of launching products in a new market, for example. Businesses can also use data compiled in the past to gauge customer preferences before launching a new product range. They can also track the growth rate of an alliance partner before deciding on a merger or deal. 

Why use Power BI for data visualization needs?

There are plenty of BI tools in the market that you can pick for business data visualization needs nowadays. However, Microsoft Power BI is what thousands of small to large-sized businesses prefer across the world. This is a SaaS BI solution with immense flexibility. Power Bi is available in various versions, and that makes it suited for businesses with varying usage needs and budgets. It also comes with inbuilt robust data visualization features. To ensure you can leverage its immense data visualization features, seeking the services of the top power bi consultants is recommended. 

Since Power BI ships with numerous features and tools for data visualization, users can generate visually enticing and easy to comprehend reports using the tool. This can be shared within and outside the organization without delay. This helps the management take major decisions and reach a consensus on important matters easily. 

Power BI is used extensively for data visualization by businesses as the tool is simple to learn and use. The tool has a drag and drop interface using which users can organize and analyze data fast. They can then make use of the analyzed data to generate visually enticing reports using its dashboards. Given the fact Power, BI integrates well with Microsoft applications like Excel and several other third-party tools, using it for data analysis and visualization makes complete sense. 

Since Power BI comes in both desktop and mobile editions, using it in setups where employees are on the move is simple. The workforce can use either desktop or mobile versions, based on the situation, and they still can stay in sync and share reports and data without any hiccups. 

The elements in Power BI you can use for data visualization

Power BI ships with a number of visual elements inbuilt using which businesses can deploy data visualization and generate detailed reports. 

These are:

Charts- Stacked column chart, Ribbon chart, Funnel Chart, Waterfall chart, Line chart, Pie chart, Stacked area chart, Donut chart.

Maps- bubble maps and shape maps.

Apart from these, you can also make use of components like Tables, text boxes, shapes, images etc.

The top power bi consulting services make use of these components for data visualization, as per the situation. 

A step by step guide to data visualization using Power BI

If you have not used Power BI for data visualization and report generation, there is nothing to worry about. It requires a few steps, and you will not have to spend much time either.

• First, you will have to download and install the application. Ideally, you should get the desktop version.
• After downloading, install the application, which will take a few minutes. Then launch the application on your PC.
• Next, you will have to import data for analysis and report generation. Power BI supports data import from a variety of sources, including MS Excel. 
• After data import is done, the application will format the data. The data can also be merged with other datasets.
• Now comes the data visualization part. You will have to choose the elements carefully, and it depends on the situation and type of data used. You can pick from various graphs and map components, along with images and tables. 
• Next, you have to use Power BI Dashboards. These Dashboards, made up of several views for comparing multiple data points, are displayed as single-page interfaces. Once you are done with tweaking the visuals and find the data visualization proper, you can publish reports.

Hiring the right Power Bi developer or agency

There is no denying Power BI is a user-friendly tool, and the learning curve is not steep. There are many businesses that use the tool without seeking the services of third party agencies. However, in some situations, you may have to seek the services of expert Power BI developers and consultants. This can be the case with large organizations that deal with gargantuan amounts of data. After a time, they have to hire Power BI development service providers. These consultants are well versed in using the platform, and they help the clients in extracting the most out of the service.