Strategic Decision Making: Power BI
In any field of business, and at any level of authority, effective decision-making can only be achieved with the presence of data. In fact, in numerous organizations, no resources can be deployed and not a single dollar is spent without a proper basis of knowledge. The flip side of this coin is that data must be structured and presented in a format that facilitates decisive judgment.
As part of Rihal’s mission to enable data-driven decision-making in organizations, Microsoft Power BI has been adopted as a key tool. Due to its immense capabilities in producing interactive visuals in the realm of business intelligence, Power BI has gained considerable traction in the business industry since its launch in 2015. This tool is capable of linking discrete data sources into one report, aiming to produce a cohesive image for the end-user. Once published, this report can be transformed into a dashboard that allows for a seamless transition between its elements.
In a previous project, Rihal’s Data Management department aided a key player in Oman’s tourism sector in adopting and implementing a data-driven decision-making mechanism using Power BI. Being the authority on tourism development in Oman, our client manages a daily influx of data to keep track of all project phases and activities, such as initiation, tendering, construction, and through to commissioning and opening facilities to the public. These dealings involve liaising with multiple stakeholders, each sharing dynamic financial information, tentative completion dates, and the latest visual updates on project completions, etc.
Initially, all this information is unlinked, but once sorted and consolidated, it can be analyzed and displayed on a single interface to give a holistic view of any trends and important indicators for the decision-making process. In design, it is known that less is, in fact, more. Harmony in design is often born out of contrast.
Other than providing a greater overview of all aspects related to their projects, some examples may include:
- Determining the main areas of delays in any project and producing subsequent actions to address them.
- Identifying contractors that have won most tenders to negotiate future rates.
- Monitoring the transfer of funds among multiple parties in an ongoing project.
- Keeping track of any deadlines that may impact an upcoming phase to ramp up work.
- Tracking challenges faced by a project and suggesting the best possible solutions.
The beauty of Power BI dashboards lies in the centralization of all data. This enlightens decision-makers about data from the extreme ends of the organization, enabling them to make the best judgments when tackling any misalignment's.