In highly regulated industries like Chemical, Pharmaceutical, and Life Sciences – being able to quickly analyze your data has become critical for everything from ensuring a good customer experience to understanding changes in the market.
Microsoft Power BI connects your data to all the tools you use every day, from Excel and Outlook to Microsoft Dynamics 365, and dozens of applications in between, aiding collaboration and the generation of actionable insights. Compared to older manual processes, Power BI doesn’t just save you time—it helps you get the most out of your business, so you can focus on moving your company forward. Learn how Power BI Connectors can help you today by giving your business access to the data it needs to grow faster and reach new heights.
The future of analytics
Data and analytics have become increasingly important for a wide range of businesses, especially in recent years where adoption is growing.
Figure 1:Worldwide BI & Analytics Growth
Source: Apps Run the World; Statista 2022
While regulations have traditionally been enforced by a group of people inside a company, these regulators expect to see evidence-based decision-making from businesses at all levels. Maintaining visibility into data from various sources is essential for compliance with certain regulations. Because of the number of data sources and systems that can be in use by companies today – often including disparate technologies or providers – it can be difficult to extract data across platforms for analysis purposes.
In the Chemical, Pharmaceutical and Life Sciences industries, where regulatory oversight has always been a top priority, the need for reliable analytical tools has significantly increased over time.
Immediately, you may not know what would make a difference in terms of driving customer behavior or improving customer experience without proper analytical tools; without data showing trends like customer purchases in relation to prices and features offered by competitors, or where customers spend most of their time within your site, or which pages result in the highest bounce rates?
Data collected from marketing campaigns is being used to help answer questions about customer engagement, usage habits, and preferences in order to improve engagement throughout the entire user journey. It’s necessary to understand the general pattern of what makes your customers tick in order to gain insight into their behaviors and needs – even if they don’t give you direct feedback! With regular monitoring through powerful analytic solutions like Power BI, this type of feedback becomes easier than ever.
Where does Power BI fit in?
Power BI is a cloud-based business intelligence and analytics platform from Microsoft that helps businesses running on multiple systems to get the most out of their data. Power BI has a growing library of connectors that helps businesses connect different sources to analyze data and create unique reports and role-based dashboards. Power BI can be used to track key performance indicators (KPIs), monitor sales and marketing campaigns, and understand customer behavior.
Power BI can help businesses in the Pharmaceutical, Chemical, and Life sciences industries use their data more efficiently to make better decisions. For example, a company that manufactures chemicals for use in other products could run simulations based on different product characteristics and use Power BI to analyze the output from these simulations. If one type of product was found to be more profitable than another under certain conditions, then they would know which products to produce more of or discontinue producing altogether.
Additionally, a company that produces vaccines needs to know exactly how much demand there will be for their vaccine before it’s released into production; with Power BI they can plot a forecast for where demand might be higher or lower than expected, letting them adjust their production accordingly. As Microsoft continues to grow its library of Power BI connectors, companies will have easier access to all sorts of valuable data and insights.
What Are Power BI Connectors?
Power BI connectors are a part of the software that allows you to connect different data streams in one location – perfect for any business that runs on multiple systems. For example, suppose you’re a chemical manufacturer that also offers consulting or testing services. You could use Power BI connectors to link the two systems together in order to generate automatic reports and analyses.
This lets you import data from one system into another system or export data from one system into another. This makes it possible to see all your information at once without having to go back and forth between each system. Power BI connectors work by linking data sources together based on predefined rules and patterns. They also come pre-built with smart visualizations and customizable dashboards which allow you to view all your information at once without having to switch between each company’s app or website.
Once you implement Power BI you can start using available connectors for free! The library of power bi connector options continues to grow as more businesses find the value in using them for their own purposes. These days, you can use Power BI connectors to do anything from importing bank statements into payroll management software to analyzing customer sentiment over time. In fact, there are many benefits to using power bi connectors.
One major benefit is the ability to analyze your company’s data in depth without ever having to step foot outside of Microsoft Office 365. This makes it easier than ever for employees who don’t normally share responsibilities related to finance or sales reporting, for example, because they know they can stay within their comfort zone while still getting the job done efficiently.
In addition, those employees will always know what needs to be done because they’ll always have access to not only relevant information but also relevant charts and graphs that provide additional context around certain trends.
What about security, privacy and compliance
When it comes to business data, security and privacy are always top concerns. Microsoft is aware of this and has taken steps to ensure that the data it collects with Power BI is not only secure but in full compliance. For starters, all data is encrypted both in transit and at rest.
Power BI is compliant with major industry standards like HIPAA, SOC 2, and GDPR. It’s easy to see why so many companies trust their data to Power BI for their own analytics needs. Data is processed on an isolated instance, ensuring there’s no possibility of a breach from a compromised network server.
To stay on top of any potential breaches that could arise from things like malware infections or unauthorized access attempts, administrators can monitor the system for any suspicious activity. They can also set up alerts and audit logs to track who accessed what data when and where they did it from. If something does happen, the company will have information about how it happened and what was lost as well as how they were able to mitigate the damage.
Power BI works hard to keep your data safe by having dedicated security features designed specifically for businesses including:
- A dedicated infrastructure architecture, which separates workloads into individual virtual machines and prevents cross-contamination among them.
- Several built-in protections against SQL injection attacks.
- Protection against cross site scripting (XSS) via double validation tokens.
These protections help make sure you’re safe while you work on your dashboards!
While it’s true Microsoft’s Power BI is a powerful tool that can help businesses gain insights into their data, even across different systems, to get the most out of it you need an experienced partner who can implement Power BI seamlessly and connect it to your other systems. Working with a partner that understands your industry means less time is spent trying to figure it out on your own.
An experienced partner will be able to help you maximize the value of Power BI and ensure that you are getting the most out of your investment. With an experienced partner, you’ll also have a strategic advisor who can advise on how to address your needs through customizations and integrations. Plus, they’ll help you keep your system up to date so that you’re always maximizing the value of your investment in power bi.
Maintaining an enterprise-wide analytics platform requires expertise from partners who understand not only what software does but how to use it as well. For instance, if a company has never used SQL before or if they don’t have any knowledge about R scripting, you’ll want to investigate more experienced support.
Xcelpros offers hands-on industry experience implementing Microsoft Power BI analytics with custom extensions and connectors that provide customers with deep insight into their data and seamless integration between disparate business systems.
Contact us today to see how we can help you meet your business goals.
XcelPros is a Chicago-based company and delivers transformation through technology. We offer business and technology solutions with deep industry experience in Chemical, Pharma, Life Sciences (including Medical Devices, Bio-Medical & Biotech), Insurance, Discrete Manufacturing, Process Manufacturing, Distribution and Food & Beverage.
XcelPros is a Microsoft Gold Partner, Direct Cloud Solutions Provider (CSP) and a Systems Integrator (SI) offering software licensing, implementation and consulting services for Microsoft Dynamics 365, CRM, Microsoft Dynamics AX, Business Intelligence & Analytics (Power BI), SharePoint, Office 365 and Azure (Cloud, IOT, Microsoft Flow amongst many others).
Our mission is to provide integrated technology solutions that amplify impact and empower our customer’s businesses. We believe technology is the key enabler of exponential growth for us and our customers.
Contact XcelPros today to transform your business.
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