Most of us are familiar with Microsoft excel. From many college students to big business professionals they are using excel which is used as a traditional data source platform with sufficient functionality to get the job done. This has been used as a go-to reporting tool for years now.
But now with the changing technology and everything a new tool was launched by Microsoft only in 2015. Microsoft comes up with their newly released tool known as Power BI- “Business intelligence tool”. Microsoft Power BI is a multi functional business tool that helps in offering powerful analytics helps you in visualizing complex data more easily, helps in sharing the insights across your organization, and much more. It also helps in managing calculations along with the static function of extensive datasets with a quick ability to obtain the answer to every question via robust dashboards to achieve effective strategies.
In today’s era of business, choosing the right tool for your business is so important, so that every business organization can get the most out of their work. Nowadays everyone believes in doing smart work rather than hard work, so having the right tool which helps quickly and easily in analyze the data and transform the databases into understandable information is very important. The major goal of every organization is to get an increase in their profits. And for that many companies are realizing the importance of data analysis and its relationship to improving performance by using the right business tool.
These Excel and Power BI are mainly the two most popular data analysis applications in the world with their pros and cons. To know which one is better, read the key components below.
- Data sources: Power BI and Excel, both tools differ from each other when it comes to which type of data sources they can work with. As in the case of excel, it can connect too many sources whereas in the case of Kockpit Power BI it supports many more data sources. In excel you can manually enter the data, and also in the Kockpit Power BI you can do the tabular style reports but obviously, it is a lot easier in excel.
- Data visualization: When it comes to data visualization Power BI is the first tool that comes up in the mind and it has an upper hand also when it comes to this feature. It helps in providing better visuals than excel and allows the data to be analyzed visually. It also offers different types of charts. Whereas excel doesn’t even have this feature.
- Large Data: Excel is known to be a client tool and with this tool, you always struggle to work upon big data files. You will find difficulty in working with files more than 500 MB as it can only handle a limited amount of data. However business intelligence dashboard reporting software can extend its limits to approximately 50 million records. And the best part is that the speed of processing the data is much faster since it uses to cache data and compression algorithms.
- Collaborative work: After completing your work on excel, you share your work done through an e-mail or keep and store your report on share point for others to access. And most people find it difficult while collaborating with others on an excel file as sharing documents and working with others is a complex deal here. On the other hand, using BI Dashboard Tools to share data and reports is easy. The dashboards in this Power BI can be shared via the cloud and there is only one file that can easily store much work.
- Dashboards: Power BI dashboards are much more advanced and more features there for creating customs dashboards. Also, it is very easier to use, you just have to drag and drop. Talking about excel, users, and very few and limited features for creating dashboards, and also it requires quite a lot of effort to adapt such things in excel. They are less interactive compared to Power BI.
- Reports: The data, the reports presented in excel are simpler and less attractive than the ones which are displayed in Power BI Dashboard Software. Reports and data in Power BI are more personalized and more interactive than any other tool.
- Utility: Power BI tool is used to create and share dashboards along it helps in developing good and powerful data visualizations. Excel is mostly used to organize data, perform calculations, do mathematical formulas and it creates much more complex tabular reports.
- Usability: Power BI is a new and latest tool and it is very easy to use compared to excel. Whereas excel is a traditional tool and is difficult to use.
- Automatic updates: In Power BI Software solution, the data is automatic gets updated. Whereas in excel you have to put the new data manually and then the data gets updated.
- Easy to access: Power BI is very much mobile-friendly with apps for tablets and smartphones etc. Whereas excel spreadsheets are difficult to access on smartphones
Both the Power BI Tool and Excel are very different platforms to work analyze and process data, they have their different functions. But we have to adopt new technologies, the new things with the time. However Power BI is growing in popularity among the business nowadays for getting better insights, easily analyzing the visually of data, interactive dashboards, and rich reporting for the users . Power BI has more diversified functionality and it’s an amazing and ideal program for expert data analysts. Power BI gives professionalism to your work compared to excel and for better insights and an increase in profits businesses are switching themselves to this Power BI tool.
Both of them are the product of Microsoft and both are good in their way. Also, they both have good integrations with each other. However every tool has its specifications and limitations, so it should depend upon the business about what actions they need to take regarding the Pre Designed Dashboard Tool.