How one investment company benefitted from the 4 substantial capabilities of Microsoft Power BI.
Excessive overhead expenses and complex data management systems were impeding a financial organization from achieving optimal operational efficiency. Their goal was to consolidate these systems into a unified, high-performance solution that would facilitate significant cost reduction.
Given the company's large datasets and the substantial number of users requiring data access, they aimed to leverage Power BI as a comprehensive tool for data ingestion, data cleansing, data aggregation, and data visualization. This would enable them to streamline their processes and unlock the full potential of their data-driven decision-making capabilities.
After engaging with JourneyTEAM, the company experienced significant benefits by adopting Power BI, which included:
Data ingestion: Power BI now rapidly sources data from the company's storage server. The solution is renowned for its ability to store data, refresh automatically, and include all current and added information. With the option of scheduled refreshes, users gain valuable insights quickly and can make informed decisions based on newly added business data.
Data clean up: Power BI identifies and eliminates duplicate and erroneous data, ensuring data accuracy.
Data aggregation: Power BI seamlessly integrates data from the company's CRM and ERP systems into a single, easily accessible location.
Data presentation: With Power BI, users can create compelling data visualizations such as graphs and charts, simplifying complex data into understandable insights. Power BI reports can also be personalized to show users specific data relevant to their roles, improving the user experience.
This investment firm achieved substantial cost savings by migrating to Power BI, a cost-effective solution. This is because Power BI licenses are considerably less expensive than those of its competitors. Additionally, this firm now only pays for Power BI as it effectively meets all its data reporting needs, as opposed to previously needing three disparate solutions for various tasks.
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