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Future Scope of Power BI

Why do businesses need Business Intelligence tools like Power BI in the first place? How effective is Power BI as a tool? How can I master Power BI? How much does a Power BI Developer earn? And the essential question is; What is the future scope of Power BI? We will discuss all these below, so let’s dive right in! 

What is Power BI? 

Power BI is a Microsoft cloud-based Business Intelligence (BI) tool that is used to analyze data and visualize them to create meaningful and actionable insights. They can analyze and visualize huge data sets after collating and transforming them. 

Before we go further, let’s understand what business intelligence means. So, BI is about making data-driven intelligent decisions for businesses to drive growth and profit and achieve scale and efficiency. So BI combines various concepts like Data Mining, Data Transformation, Data Analytics, and Data Visualization along with a set of standards for a data-driven decision-making process. 

Power BI is the newest entrant to the block of popular BI tools. Its direct competition is with the hugely popular “Tableau” and “QlikView.” All businesses from various industries use BI tools like Power BI for their purpose. These industries range from IT, software, retail, financial, management consulting, hospitality, and recruitment industry. Taking up a Power BI Course will go a long way in helping you master the tool and allow you to strengthen your career path to be able to work in such diverse industries. 

Why do Businesses use Power BI? 

Businesses use Power BI for various reasons, but the core of all the reasons is that it helps them generate more profits and achieve efficiency. So let’s understand why Power BI has become such a popular tool in such a short time: 

• Microsoft Power BI has become a leader in the 2022 Gartner® Magic Quadrant™ for Analytics and BI platforms, ahead of Salesforce’s Tableau and Qlik. 
• Power BI is easy to learn, so even a beginner can get up to speed with little effort. 
• Since it’s a cloud-based tool, it removes the burden of storing such a huge amount of data on-premise. 
• Offers detailed insights through data visualization of the entire database, which will contain charts, visuals, tables, etc. 
• So many commands can be used to dissect data and obtain different but reliable insights on which businesses can base their decisions. 

Demand and Future Scope of Power BI

Today, data has become everything and is rightly called the new oil of the new economy. Data will continue to rule the markets. But data alone cannot guarantee business success. So how do you use that data? What insights are you able to extract from the available data? Which trends to pick and which ones to leave? How is data helping your business in making strategic business decisions to stay ahead of your competitors? 

And this is exactly where tools like Power BI come in. As businesses continue to rely on reliable data, the position of BI tools grows even stronger. So naturally, it will strengthen the career path for these BI experts who know how to work with the tool to help business unlock their potential and achieve their goals. So start today, as the future for Power BI is very strong! 

Who is a Power BI Developer?

A Power BI Developer is an expert who knows how to convert raw data to meaningful insights using Power BI. Their main task is to create detailed reports by analyzing large volumes of data which will ease the task of decision-makers to look at the reports and make quick decisions backed by data and not guesswork. 

Data available or stored needs to be more organized and ready to be used for analysis or extracting meaningful patterns. So a Power BI Developer always has to transform and organize this data and continuously optimize this data. 

How to become a Power BI Developer? 

There are some technical and soft skills that you need to earn before you can become a Power BI Developer. So let’s discuss those skills briefly below: 

MS Excel: Power BI functions like an advanced Microsoft Excel with a very intuitive interface. So having MS Excel experience will help you, master Power BI.

DAX Formulas: Similarly, having a strong knowledge of DAX formulas will help you greatly.

Data Modelling: You must be aware of one of the most significant aspects. 

SQL: Structured Query Language or SQL will help you in fetching data from SQL Servers. So it’s an important tool that you must be aware of. 

Power Query: Knowledge of Power Query is a must to be able to transform data according to the user’s requirements. 

Building dashboards: This is the last skill you might need but an important one of your tasks. So learning how to build dashboards will help you master Power BI and communicate your extracted insights to decision-makers. 

Speaking of soft skills, strong communication and interpersonal skill will go a long way in enhancing your interaction with the client and business stakeholders. And presenting reports is one of the bigger tasks for a Power BI Developer. So acquiring a knack for presenting reports clearly and crisply will make you an asset to the organization you work for. 

Conclusion

According to Ziprecruiter.com, a Microsoft Power BI Developer earns an annual average salary of USD 98,701 in the US. This justifies the high demand for Power BI Developers across industries. So start today and make the most of the huge potential of this career path!