The need for transforming data into intelligent information to boost business performance is creating angst among many business people. They need something better than what they have today. Business Intelligence tools are not new, and many tools can ultimately perform similar functions, but the technical toolset of the developer, ease of presentation, and cost of use is drastically different.
Some companies will be fortunate to have employees that understand the difference and see the benefit of being an early adopter of Microsoft Power BI. Other companies stay with what they have and therefore pay more for being less informed.
Prepare to Win
If your organization wants to take advantage of the big data revolution, you’re going to need a business intelligence platform that can make the most of it. BI software is crucial for interpreting and examining data, whether you’re putting together some single reports, or performing a full battery of data analyses.
The BI market is saturated with old products. How do you evolve from something you’ve built your company around into something new and better? Or, in a broader sense, how do you keep your company competitive? No one should need to be reminded that change is the only business constant.
Many years ago, BCG developed a product life-cycle matrix based on market share and growth. “Dogs” are the low market share and low growth products. Single market BI apps fall into this category. “Cash Cows” are high in market share but low in growth. They keep the money rolling in but their days are limited. “Rising Stars” are products that are low in market share right now but high in growth. This is where the future lies.
Lower Cost and Higher Performance
Microsoft Power BI will initially live side by side with legacy BI tools. This coexistence may continue for several years. A mix-and-match strategy provides business dynamics but should not be a sleeping pill for companies who want to minimize BI portfolio’s complexity and cost. Don’t view your old BI star as immortal; see it as the aging Cow it is.
Microsoft has narrowed all significant feature gaps. For the second year in a row, Microsoft is placed furthest in vision within the Leaders of Gartner’s 2017 BI report. Get the report here and learn more about Microsoft’s favorable standing.
Microsoft won’t waver in its commitment to Power BI – you can be sure of that. Microsoft will continue executing on its successful “five strategies,” which states five seconds to sign up, five minutes to wow the customer, and five times more value for money, i.e., 80% lower cost than other (so called) leading BI products. Bundled with Office 365 it may even be less than that…
Opportunity is Now
You’ve still got time, but you shouldn’t waste that time by ignoring the advantages Power BI offers. If you do, you’ll eventually find yourself trying to get milk from a Dog. You must either adapt to new technology or get buried by them.
Better, faster, and cheaper are vital ROI issues and measures. The sooner you join a rising star the longer time you’ll enjoy the benefits of recurring returns on your investment. Timely is no small thing. Darwin’s famous theory might as apt been called “Survival of the Timeous.”
Evidence of Power
Once the data was connected to Power BI, it took my son and me two hours to develop a comprehensive Warranty Management Dashboard, with capacity to filter and drill down each graph. As great as it is, Power BI comes with a warning. Your appetite grows as you eat. Power BI talks to our intellectual curiosity; the desire to explore and know more.