It goes without saying but being able to review and report on business data is vital in order to make the best decisions for your business to help achieve long-term success. As a result of this information, it shouldnt shock you to realise that many businesses have considered looking for the right tools to help streamline this process.
Furthermore, two such options on the market are Microsoft Excel & Power BI which both enable you to analyse your data and report on this, therefore it doesn't come as a surprise that both of these tools are often compared to each other when businesses are considering all their options around this. In our latest blog article, we will define, compare and contrast these options to enable you to come to the best possible decision for your business.
Before we delve into both of these options let’s define them:
Microsoft Excel
Excel is a spreadsheet program from Microsoft and a component of its Office product group for business applications. Microsoft Excel enables users to format, organize and calculate data in a spreadsheet.
Power BI
For those of you that don’t know, Microsoft Power BI is part of the Microsoft Power Platform which is a set of business analytics tools which can be used to help you to analyse data and share valuable insights.
Now that we have defined both options, let’s take a look at how they compare in certain areas:
Data Handling and Processing
It is important to understand that having a robust data handling and processing system is a key ingredient in achieving long-term success. Having such a system in place can help you save money and reduce errors as well as allowing you to make decisions quicker and more accurately.
How does Power BI compare in this regard?
You will find that by showcasing proficiency in managing both simple and complex data, Power BI is perfect for translating data into custom, user-friendly dashboards and reports. Better still, you will have over 500 pre-built connectors on hand to help speed up the process of importing data. As well as this, users are able to combine this data within the Power BI Power Query Editor.
In summary, Power BI can easily help you to make sense of your data in order to give you easily digestible insights into your business at the push of a button.
How does Microsoft Excel compare in this regard?
As many of us already know, Excel is used for data processing and handling which equips your business to be able to collate and tidy up data through the use of a whole host of different formulas and functions. Also, Excel is great at removing duplication entries, text to columns and consolidating which helps make data analysis easier and is easy to interpret for key decision making.
So, who wins on this functionality? - The answer is Power BI
It goes without saying, but there are many clear-cut differences between Power BI and Excel regarding the handling and processing of data. It is true that Power BI is able to process vast quantities of data when compared to Excel as well as providing advanced data visualisation and collaboration features. Although this is true, Excel is still pretty good at basic interpretations.
Visualisations and Reporting
Being able to process complicated datasets via leading visualisation and reporting enables businesses to make quick decisions, transform their communication and allows them to plan for the future in order to help drive business success.
How does Power BI compare in this regard?
Held in high esteem for its advanced visualisations and engaging dashboards, Power BI is top of the tree when it comes to presenting data in its simplistic form. You will find that all users can explore several pre-built visuals with the ability to tailor them. The new and improved Copilot features contained within Microsoft Power BI help to improve the overall user experience by giving users access to AI driven functionality, enabling them to build reports using natural language meaning that streamlined reports can be created.
How does Microsoft Excel compare in this regard?
You will notice that Excel can offer many different charts, graphs and tables to illustrate data. However, even though it has the functionality to deliver highly data driven reports, when in practice Excel can be difficult to achieve this as many users are unable to make effective use of both the formulas and processes need to use it to its maximum capacity. Therefore, this means in a realistic sense that reporting through this outlet can be limited.
So, who wins on this functionality? - The answer is Power BI
Even though Excel gives you simplistic data visualisation for certain data situations, Power BI outshines this by being able to deliver advanced visualisation capabilities, such as KPI cards, maps and tooltip functionality. As well as this, Power BI not only uses these capabilities but delivers them in a comprehensive dashboard making use of modern-day visuals that allow users to build fun and engaging reports at the click of a button.
Costs
This might be like teaching you to suck eggs, but businesses, no matter how big or small, must consider the costs associated with this and make sure it helps to meet the overall business requirements.
How does Power BI compare in this regard?
You will find that Power BI licensing is licensed using a tier-based subscription model, where the cost is established based on the size of your business and the advanced features required. You can use a free version of Power BI which enables users to navigate their way round the core functionality of the platform. The licensing tiers are as follows:
- Power BI Desktop (Free)
- Power BI Pro (£8.20 per user per month)
- Power BI Premium (£16.40 per user per month)
How does Microsoft Excel compare in this regard?
You will notice that the licensing around Excel is pretty straightforward and is fixed at £5.99 per user on a monthly basis, giving users access to the entire platform. In most businesses they are using Excel within their Microsoft 365 suite, making it very good value for money. However, it’s important to realise that the cost of Excel doesn’t include the advanced BI features showcased by Power BI. Despite this, Excel’s features are perfect for a whole host of data requirements.
So, who wins on this functionality? - The answer is Excel
You will understand that Power BI is part of a tiered licensing system, giving users access to certain features and a free version, however costs can surge if bigger teams need access to the full capabilities of this tool. On the other hand, Excel is based on a fully fixed fee which gives users access to everything.
In Conclusion
As mentioned above, being able to effectively analyse data and report on it are vital ingredients towards achieving sustained business success, meaning that businesses are assessing tools such as Excel & Power BI. It also goes without saying but Excel, given its simplistic nature, can give businesses that added flexibility. Whereas, Power BI, an advanced analytics tool, stands out from the crowd when it comes to handling data & visualisation.
Next Steps?
If you are business that has read the above article and are leaning more towards implementing Microsoft Power BI then please get in touch with our team of Microsoft Power Platform experts to discuss this in more detail.
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