Power BI is a business intelligence (BI) platform developed by Microsoft. It is a powerful tool that allows users to collect, analyse, and visualise data. Power BI is used by businesses of all sizes to make better decisions.
In 2023, the growth of Power BI is expected to be driven by five major trends:
- The increasing demand for data-driven decision-making: Businesses are increasingly relying on data to make decisions. Power BI makes it easy to collect, analyse, and visualise data, which can help businesses make better decisions.
- The rise of cloud computing: Cloud computing is becoming increasingly popular, and Power BI is a cloud-based platform. This makes it easy for businesses to deploy and use Power BI without having to worry about infrastructure.
- The growing popularity of self-service BI: Self-service BI is the trend of allowing end users to create and manage their own BI reports and dashboards. Power BI is a self-service BI platform, which makes it easy for users to get started with BI without having to rely on IT professionals.
- The increasing importance of data governance: Data governance is the process of managing data throughout its lifecycle. Power BI includes features for data governance, such as data lineage and auditing. This helps businesses to ensure that their data is accurate and compliant.
- The development of new AI and machine learning capabilities: Power BI is constantly being updated with new AI and machine learning capabilities. These capabilities can help businesses to automate tasks, discover insights, and make better decisions.
These are just five of the major trends that are driving the growth of Power BI in 2023. As these trends continue to evolve, Power BI is expected to become an even more powerful and versatile BI platform.
Here are some additional details about each of these trends:
- The increasing demand for data-driven decision-making: Businesses are increasingly relying on data to make decisions. This is because data can provide insights that can help businesses to improve their operations, products, and services. Power BI can help businesses to collect, analyse, and visualise data so that they can make better decisions.
- The rise of cloud computing: Cloud computing is becoming increasingly popular because it offers a number of advantages, such as scalability, flexibility, and cost-effectiveness. Power BI is a cloud-based platform, which means that businesses can deploy and use it without having to worry about infrastructure. This can save businesses time and money.
- The growing popularity of self-service BI: Self-service BI is the trend of allowing end users to create and manage their own BI reports and dashboards. This is in contrast to traditional BI, where BI reports and dashboards are created and managed by IT professionals. Power BI is a self-service BI platform, which makes it easy for users to get started with BI without having to rely on IT professionals. This can empower users to make better decisions and improve their productivity.
- The increasing importance of data governance: Data governance is the process of managing data throughout its lifecycle. This includes tasks such as data collection, storage, analysis, and security. Power BI includes features for data governance, such as data lineage and auditing. This helps businesses to ensure that their data is accurate and compliant.
- The development of new AI and machine learning capabilities: AI and machine learning are rapidly evolving technologies that are having a major impact on BI. Power BI is constantly being updated with new AI and machine learning capabilities. These capabilities can help businesses to automate tasks, discover insights, and make better decisions.
Conclusion
The growth of Power BI in 2023 is expected to be driven by a number of factors, including the increasing demand for data-driven decision-making, the rise of cloud computing, the growing popularity of self-service BI, the increasing importance of data governance, and the development of new AI and machine learning capabilities.
If you are looking for a BI platform that can help you make better decisions, Power BI is a great option. It is a powerful, versatile, and easy-to-use platform that can be used by businesses of all sizes.
Get in touch if you are interested to learn more about Power BI Analytics.
