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Power Bi is a Business Intelligence tool we can upload data and publish data throughout our companies. Business Intelligence response to any query and improves decision making. Adding power to the business for good visualization of data. Another feature of Power BI Is Quick Insights in which we can search a dataset for interesting patterns and provides a list of charts for a better understanding of data. It uses artificial intelligence and data mining to analyze the data. Qlik is also a Business Intelligence and data visualization tool.
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It is an end – to end ETL solution yielding good customer service. With qlik, we can create a flexible end-user interface, make good presentations based on the data, creates dynamic graphical charts and tables, perform statistical analysis, builds own expert systems. Qlik can be used with the virtual database. It is a window-based tool that requires the following components: Qlik Server, Qlik Publisher.Features of Power BI
Rich Graphical visualizations from complex BI data.
Good Navigation Pane
Includes a dataset with customizable dashboards.Features of Qlik
With the use of a hybrid approach, the user can associate data stored within big sources are stored within the Qlik view in-memory dataset.
With the help of direct discovery, they allow users to perform Business discovery and visual analysis.
Mobile-ready, Roles, and Permissions
Interact with dynamic apps, Dashboards.Features of Tableau
They have a good drag and drop.
For data sharing, they use Tableau Public.
They implement interactive data visualizations on the web.
Their performance is strong and reliable and operates on huge data.
They are mobile-friendly and supports full online versions.Head To Head Comparison Between Power BI and Tableau and Qlik(Infographics)
Below is the top 9 difference between Power BI vs Tableau vs QlikKey Differences Between Power BI and Tableau and Qlik
These are popular choices in the market; let us discuss some of the major difference:
Qlik can be immediately accessed by multiple users. Qlik is faster than Tableau. Power bI connect to any data source they do not require ETL.
The documents are stored in. the qvw format we can access these documents via Qlik Views proprietary communication protocol and stored in Windows OS, and all the events are taken in Qlik Server, they are responsible for Client-Server Power BI has three types of files excel(.xls), power BI desktop(.pbix), (.csv). Tableau extract files can have (.tde) file extensions.
Qlik structure is not well managed whereas Tableau structure is managed by well user guide.
Qlik works as a standalone technique. Publishing the data to the outside world are managed by QlikView Publisher. Power BI is available only on the SAAS model whereas Tableau has cloud and on-premises option. Power BI desktop version is free.
Data modeling facilities are increased using POwerBI. In Qlik Data insights are generated rapidly.
Tableau and Power BI is user-friendly. Qlik has high customizable patterns.
Qlik and tableau work for statistical analysis. Power BI does not have this capability.Power BI vs Tableau vs Qlik Comparison Table
Below is the 9 topmost comparison
The basis of comparison Power BI Tableau Qlik
Performance It Lacks behind on data visualizations. They are more User-friendly because Non- technical users can work with this tool. They use cubic Technique Qlik needs a developer to work with reports and dashboards. They take all types of datasets.
They have good visualizations.
Dashboards are the key feature of PowerBI when has a good User interface to publish the report.
User Interface is better
User Interface is quite down when compared with Tableau.
Ease of learning
User-friendly- Knowledge of Excel is enough
They do not require any technical or programming skills to work with.
Easy to learn with Data science background.
Power BI has Power BI desktop, Gateway
They work with front-end tool such as R.
Qlik consists of both front-end (Qlik Developer) and back-end (Qlik Publisher)
The desktop version is free, Power BI Pro is pay per month. Tableau Reader is a free version. Tableau Server is a licensed one. Qlik Personal Edition is a free version of Qlik and runs without a license Key.
Cost- Effectiveness Less expensive. Qlik website has two editions. Personal version is free, Enterprise version can be used contact with the team.
Online Analytical Programming They connect to OLAP cubes via SQL servers for multidimensional analysis. Tableau can connect to OLAP taking out the cube measures at the deepest level. Access to OLAP provides encapsulated data views.
Speed They have smart recovery Speed depends on RAM and data sets. They have better Speed since they store the data in the server RAM (In-Memory Storage)
Advantage Power BI are inexpensive and have scalability for larger projects. They are top ranked in intelligence visualizations. They provide wide range deep analytics and they have good customer satisfaction
ratings.Conclusion Recommended Articles
This has a been a guide to the top difference between Power BI vs Tableau vs Qlik. Here we also discuss the key differences with infographics, and comparison table. You may also have a look at the following articles to learn more.
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Efficiency ratings explained
A power supply’s efficiency rating tells you how much energy makes the conversion from AC power (what it draws from the wall) to DC power (what your PC’s components run off of). The rest is lost as heat. Power supplies rated as 80 Plus will have a 80-percent power to 20-percent heat ratio at 20-percent, 50-percent, and 100-percent load. As you get into the precious metal designations, the efficiency rises, capping out at 94-percent under 50-percent load for a Titanium-rated model. The efficiencies for power supplies rated at 80 Plus Bronze and above vary based on the amount of load.
The more efficient a power supply is, the less power it uses and the less heat it generates—which means a lower electricity bill and a quieter PSU. The components tend to be better too, which means you should be able to use it for longer. Manufacturer warranties usually reflect this: A Bronze-rated power supply might get a 3- to 5-year warranty, while a Platinum-rated model will be backed for 10 years.
These days, the most power supplies from well-known, reliable manufacturers have an 80 Plus or above certification, but it is possible to find other PSUs that fall below that. Those cheap power supplies that get included as part of a bundle with ultra-cheap cases? Not 80 Plus-rated.
The actual percentage of efficiency for the U.S. and other countries with electrical grids that run on similar voltage. (You can see the full chart on CLEAResult’s site.) The minimum efficiency to meet ATX specifications is 60-percent at 50-percent load—much lower than where the 80 Plus standard begins.How to choose an efficiency rating for a power supply
Three main considerations help determine what efficiency rating will work best for your PC build:
Local electricity rates
Most average PC users who live in a temperate climate with low pricing for electricity will do fine with a standard 80 Plus or 80 Plus Bronze power supply. As you can see in the table above, the efficiencies don’t dramatically jump as you move to a higher rating.
Typically as you go up in wattage, power supply efficiency ratings rise as well. But efficiency ratings don’t always tell the whole story about a specific model’s performance, so be sure to read reviews to get the full picture.
If you live someplace where electricity is more expensive, then the cost savings of a more efficient power supply can be worth the higher initial price. A higher-rated PSU can also make sense if you live somewhere that gets very hot for long periods, as ultra-warm ambient temperatures can reduce a power supply’s efficiency. Less heat from your power supply means less noise from its fan and less work on your part to keep your PC cool overall, too.
In general, the higher you climb in wattage, so too does the efficiency rating. Your decisions will typically fall between just two to three options, which will make the selection process easier. Don’t feel obligated to spend more than you need—budget still matters. Buy a power supply with an efficiency that fits your situation, not the demands of other people who believe you must always maximize on specs.
Recently, I built and showed a Budgeting Analysis Dashboard in one of Enterprise DNA’s workshop. One feature of that Dashboard is the Cumulative Budget view. The webinar is linked here. You may watch the full video of this tutorial at the bottom of this blog.
Product Budgeting Analysis Dashboard
The dashboard itself is dynamic so I can change the time frame and select the products I want to track. This makes exploring the data extremely efficient if you’re comparing it against a benchmark.
Dynamic selection of time frame and products.
There was a seasonality aspect on my budget data and I needed to display it cumulatively. The visualization I created compares the BUDGET against SALES and SALES LAST YEAR. The dark blue line represents BUDGET and gives a good direction how the performance is against SALES.
In my view, using cumulative totals is the best way to evaluate trends. How your actual results compare versus your budget is ultimately what we want to look at.
We will discuss setting up cumulative totals in detail for this tutorial. We will discuss the formula and technique I used to do it for this dashboard.
First, we need to go to another page to set up the scenario and data table. This makes it easier to see what’s going on with the data itself. We then create a data table with DATE, the TOTAL SALES from the Key Measures and the BUDGET ALLOCATION from the Budget Measures.
The budget is set to allocate for every single day because the data context is by DATE. At the moment, the budget is not cumulative. We are going to use DAX formulas to make it so.
The formula looks complicated but if you work out how it’s set up, it will make sense. Variables are used in the formula – I will link the tutorial for the formula in detail.
Budget Allocation formula.
In your data, the budget can come in different granularities. It can be monthly like in the example above, it can also be yearly or weekly – this depends on how you define your data in the beginning.
Power BI allocates the budget based on how you set up your formulas.
The Product Budgets is even more complex because aside from the Amount, it also has the Product ID.
We can switch the DATE field into MONTH & YEAR instead and still get the correct breakdown because our formula is dynamically set up.
Using Date to group data.
Using Month & Year as the date field.
We’ll use bar charts to visualize this data and compare the daily performance to our budget allocation. This already gives us a good insight in itself – however, this is still not cumulative.
Next, we duplicate this chart and turn the duplicate into a table to see the actual values.
We’ve talked about Cumulative Sales many times before which follows this formula:
The Cumulative Budgets has a slightly different approach because we need to use complex DAX formulas.
The big difference when calculating Cumulative Budgets is that we can’t use the Budget Allocation by itself. It needs to pass through several DAX formulas to refine it.
If you notice on the right hand side of the SUMX formula we have the Budgets variable. What’s interesting here is we declared the Budgets variable inside the SUMMARIZE formula, DAX formulas can use a column that you virtually created as a reference right away. You will see it is similar with our other Cumulative formulas, except the SUMX portion.
To review, we SUMMARIZE the Budget Allocation at the same time, creating the Budgets variable. We then use SUMX on this Budgets variable to create the virtual table where we get the cumulative totals.
Now we add the Cumulative Budgets column to the table and we see that it adds the budgets cumulatively on all dates. This is a great way to represent seasonality in your data.
We then remove the columns we don’t need and change the table into a graph. This represents the data effectively in a cumulative way and shows the deviation better.
From the visualization perspective, you will identify trends better by using different elements together. I went through many other samples in the Advanced Budgeting Session. I’ll put a link below to the replay which is up on Youtube as well.
If you want to play around with this sample file, it is up on the Showcase page.
All the best
Power BI – Uses in Finance
A Microsoft-owned business analytics service that offers a wide range of data visualization and data warehousing services
Published April 27, 2023
Updated July 7, 2023What is Power BI?
The tagline for Power BI, “Bring Your Data to Life,” very clearly demonstrates the purpose of the Microsoft-owned business analytics tool. Power BI is an assortment of several data analytics-based services and systems that primarily focuses on visualizing business data and making it more interactive for organizations.
Created by Microsoft, Power BI is a cloud-based service provider offering data visualization and data warehouse services aimed at making data more interactive for the user. The application includes a wide range of data analytics services such as data preparation, custom visualization, data discovery, data warehousing, data reporting, interactive data sharing, data organization, and many others.
Owing to its substantial popularity, Power BI is available across different usage platforms. Power BI Desktop is used to access the analytics tool using a Windows-based desktop. It can also be accessed online using Power BI online SaaS, which is the application’s online software service. In addition, it can also be accessed using Android and iOS devices using the Power BI applications developed for the purpose.Key Highlights
Power BI is an assortment of several data analytics-based services and systems that primarily focuses on visualizing business data and making it more interactive for organizations.
Power BI is a cloud-based service provider offering data visualization and data warehouse services. The services include data preparation, custom visualization, data discovery, data warehousing, data reporting, interactive data sharing, data organization, and many others.
Owing to its substantial popularity, Power BI is available across several different platforms.How is Power BI used in finance? 1. Easy consolidation of large to very large data sets
Power BI is a very efficient tool for business data organization. There are generally different kinds of limitations regarding the volume, nature, and complexity of data, and its reporting and organization across various data management mediums. However, this application offers exceptional financial data management services, with absolutely no limitations on the reporting of financial data, no matter how large the company is or how complex its data.2. Excellent projections mechanisms
Power BI offers exceptional data projection systems. Financial projections are an integral part of a business’ operations, and several vital decisions are drawn essentially from financial projections. Hence, it is an integral part of any organization’s data management processes.
The application offers a data projections function called “what-if parameters” that create interactive data projections and are very efficient for comparison. It is a vital tool to draw up projection statements of any number and kind of assumptions.3. Data trends and patterns
Power BI comes with a built-in time intelligence feature. It also provides the ability to arrange data in accordance with different data dimensions and parameters. Using such features, it is very easy to spot data trends or data patterns over several years or across the market competition. They are very useful in drawing important conclusions about business operations and making important financial decisions about profitability, budgeting, business expenses, etc.4. Quick Insights feature
Power BI runs on powerful data analysis algorithms, which fuels the efficient working of the Quick Insights feature of the software. The tool provides data implications and draws various facts and conclusions from the dataset provided by the user. It is a very useful tool for a financial planner who would want some insight or draw conclusions from the financial statements for the year, and so on.5. Power View
Power View is an essential feature of Power BI that allows generating interactive charts, graphs, and data maps. It helps generate visually interactive charts and graphs from the financial dataset and consolidating that information to draw conclusions and make important financial decisions.6. Collaboration
Power BI is a collaborative platform, i.e., it is easily shareable and accessible across different users, while, at the same time, offering high security and protective measures. Hence, the finance department of the business or financial management teams of projects can collaborate. They can work together in sharing financial datasets, publishing financial reports and dashboards, exchanging vital data conclusions, and working collaboratively and efficiently.Conclusion
The aforementioned uses of Power BI serve the purpose of financial data management and analysis exceptionally well. However, Power BI is not limited to just such uses; it offers a wide array of services for data management. It is considered an integral tool of financial management for large businesses and corporations, where financial data is in large numbers and is much higher in complexity.
To learn more about the dashboarding tool, check out CFI’s Power BI Fundamentals course! Learn more about telling meaningful stories with data, organizing and manipulating large and complex datasets, and creating powerful dashboards.Related Readings
In this tutorial, you’ll learn how the Performance Analyzer works in Power BI. Specifically, this blog will discuss the query generated by the Performance Analyzer tool and how it changes depending on the visuals in your report.
Performance Analyzer is a Power BI tool that measures and displays the duration required for loading or refreshing the visuals. This allows users to determine which visuals or elements have the most impact on a report’s performance.
To demonstrate what the Performance Analyzer feature does, start by creating a simple Power BI report.
Visual display shows the amount of time it takes to render the table so that it can be displayed back to the end user.
And Other shows the amount of time a particular visual has to spend in waiting while other visuals are still rendering.
Sometimes, your DAX code can be extremely slow. To investigate the cause and what’s happening behind the scenes, it’s important to understand the query generated by Power BI.
You can see that the DAX query used the DEFINE keyword and declared two variables. It then used the EVALUATE and ORDER BY keyword to get the result in a particular order.
When you run the code, you’ll get the same table that you have in Power BI.
If you go back to Power BI and add a new column, the Performance Analyzer pane automatically refreshes the visual.
Copy the DAX query after scrolling down the table for a few seconds.
Open DAX Studio and paste the code in the Editor.
Whenever you scroll down on a matrix or any other visual, Power BI sends another query to SSAS. The DAX code retrieves a list of all the products that appear after the initial 501 rows.
The DAX code is different for visuals that remain stationary. For this instance, if you don’t scroll the visual before copying the query, the code will only be restricted to show 502 rows at a time.
This is how power BI optimizes the report you’re currently interacting with.
Let’s look at how slicers interact with a given query. Create a simple slicer. In this case, the Gender field is used as the slicer for the matrix.
Copy the query of the slicer and go back to DAX Studio. Paste the query in the editor.
The TOPN function is used to display the first 101 rows. But in this case, it’s not actually useful since Power BI is only using the TOPN function to display the required number of rows.
If you execute the code, you’ll only able to see the three distinct values of the gender slicer: blank, M, and F.
But if you copy the query of the Table and Run it in DAX studio, you’ll see that Power BI automatically creates variables for the filter context coming from the slicer.
Once the code retrieves the values from the slicer, it injects those values inside a SUMMARIZECOLUMNS function. In the second argument, it’s applying the result of the variable.
This tutorial showed a quick overview on the Performance Analyzer feature in Power BI. Specifically, you learned about the varying DAX queries it generates depending on the available visuals.
This lesson helps you to better comprehend which visuals are more resource intensive. By understanding the queries behind each visualization, you’re able to make inferences into which aspect of the report you need to review to improve performance.
Enterprise DNA Experts
In this Power BI Showcase, we’ll be focusing on financial information management reports for an enterprise involved in the global food distribution industry. You may watch the full video of this tutorial at the bottom of this blog.
The data set presented in the reports are common metrics received by an organization at the end of a financial year.
These financial metrics include Total Sales, Cost of Goods Sold, Gross Profits, Budgeted Sales, Variance to Budget, and Total Discounts.
This Showcase is broken down into three reports.
The first report page drills into the revenue and profitability of the business.
We can easily navigate around the key subsidiaries within the organization and see financial trends for a specific time period, product, or product category.
This allows us to build up the financial intelligence within the organization to optimize product allocation and sales team management.
The information in this report is also dynamic. If we want to look at details on the subsidiary in Indonesia, we can select the Total Sales Distribution by Regions chart.
By making this selection, all the other key metrics in this report automatically update.
We can also look at our biggest selling entity in Australia.
The chart in this report makes it easy to see how well our products have been selling in the Australian market.
This is a great way to identify which products are selling well and in what location these high Sales are coming from.
The next report page gives a breakdown of each product the company is selling globally.
We can see the different category breakdowns by product. There’s Total Sales, Variance to Budget, and Gross Profit Margins.
Gross Profit Margins are key in identifying why there’s a variance in Sales for different regions.
This helps in deciding where we want to potentially send more goods so we can obtain the highest Total Net Profit by the end of the financial year.
We can drill into a specific country, like Malaysia, and see which products are not performing well within that area.
This gives us a better understanding as to why these trends or numbers are occurring.
We can also multi-select countries and specific product categories. For instance, we can look at how our meat products are performing in Australia and New Zealand.
Lastly, we have a report on our channel and customer segments’ financial information.
In this example, we have four channels and two customer segments:
By clustering our financial information into these groups, we can easily identify which area we should place more focus on to make the most out of our Sales.
Let’s look at our Wholesale Channel:
With this, we can easily see our cumulative financial information throughout the year.
In this chart, we can see that there’s a big dip in our Variance to Budget between the months January and February.
We can proceed to investigate why this has happened and then start creating strategies to ensure that this won’t happen in the future.
The reports presented in this Showcase offer great insights on financial information management.
This is a great help for businesses that want to optimize their Sales and product allocation.
Power BI is a great tool to use in financial analysis because it makes it easy to drill down into specific parts of our data set.
All the best,
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