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quick tech talk
with steve yoss
cpe today
microsoft power bi is an absolutely incredible tool for business intelligence. what is business intelligence? well, business intelligence is software that allows you to take information, process it automatically, and produce beautiful charts, graphs, maps, and other types of visualizations to help make that information meaningful. and power bi is the best of the best.
it’s wonderful for a couple of reasons. first and foremost, it leverages most of the functionality in advanced excel, including power query, data modeling, and more. many financial professionals already have some experience and knowledge and can use this incredible tool. second, it’s free for individual use, so it can be downloaded and used immediately without a large upfront investment. third, it is a software application on your computer, a web service that you can access on any internet browser and a mobile app while empowering the accountant to produce any type of information report and then let people consume it on the device of their choosing. traditional financial statements, like income statements and balance sheets, require readers to understand how to interpret them. power bi allows you to produce charts, graphs, dashboards, and more in the way the person who needs that information wants to receive it, and the existing limitations of financial statements do not bind you. you can make whatever you want helpful and meaningful to that audience. because again, ultimately, we want to help our clients, companies, staff, and ourselves make better decisions, and power bi is one of those incredible tools. that gets us one step closer.
