The Muamalat Newsletter Vol. 2 2023

FEM eNewsletter | Dec 2023 32 strategies, or enhancing overall customer experiences, data-driven insights are the guiding compass, steering the organization toward success. PricewaterhouseCoopers (PwC) has harnessed the capabilities of Microsoft Power BI, a groundbreaking data analysis tool, to shape its remarkable journey in consulting and data-driven solutions. PwC’s success storyunderscoresPower BI’s transformative potential by embracing a data-driven approach, reinforcing its ability to provide tailored solutions, promote collaboration, and strengthen its position as a leading consulting firm in the ever-evolving business landscape (Microsoft, 2022). In conclusion, adopting and wholeheartedly embracing advanced data analysis tools like Microsoft Power BI have become paramount for business success. Power BI’s user-friendly accessibility has laid the foundation for fostering a culture where data transcends being just a tool and becomes a way of thinking. This culture of data- driven decision-making empowers organizations to unlock their full potential and navigate the intricate and ever-changing financial landscape with unwavering confidence, ultimately steering them toward unparalleled business success. References Bank Negara Malaysia. (2023, March 29). Laporan Attewell, P. A., Monaghan, D. B., & Kwong, D. (2015). Data Mining for the Social Sciences: An Introduction. University of California Press. Ferrari, A., & Russo, M. (2017). Analyzing Data with Power BI and Power Pivot for Excel. Microsoft Press. Magi, A., Semeraro, R., Mingrino, A., Giusti, B., & D’Aurizio, R. (2018). Nanopore Sequencing Data Analysis: State of the Art, Applications and Challenges. Briefings in Bioinformatics, 19(6), 1256–1272. https://doi.org/10.1093/BIB/ BBX062 Microsoft. (2022, March 15). PwC uses Azure Synapse and Power BI to Help Clients Gain Valuable Insights. Customer Story. https://customers.microsoft.com/en-us/story/1475932251229992897-pwc-banking Toasa, R., Maximiano, M., Reis, C., & Guevara, D. (2018). Data Visualization Techniques for Real-time Information - A Custom and Dynamic Dashboard for Analyzing Surveys’ Results. Iberian Conference on Information Systems and Technologies, CISTI, 2018-June, 1–7. https://doi.org/10.23919/CISTI.2018.8398641 Yin, S., Ding, S. X., Xie, X., & Luo, H. (2014). A Reviewon Basic Data-driven Approaches for Industrial Process Monitoring. IEEE Transactions on Industrial Electronics, 61(11), 6418–6428. https://doi.org/10.1109/TIE.2014.2301773 (Magi et al., 2018). However, these challenges can be effectively tackled using Power BI’s robust features. Users canemploy functions for data transformation, gradually delve into complex calculations with DAX, and refine visualizations by experimentingwith data behaviour. Performance optimization is achievable through experimentation with data modelling and optimization settings, alongside exploring real- time data and data security features, striking a balance between data sharing and privacy. Power BI’s diverse connectors, advanced analytics, and user training options can enhance users’ skills. Overcoming budget constraints is manageable by utilizing free or trial versions, allowing users to evaluate premium features before making financial commitments. These challenges, when approached with curiosity and experimentation, serve as opportunities for growth. By adopting a hands-on, iterative approach and staying open to exploration, users can advance from novice to expert in Power BI, transforming their data analysis proficiency significantly. Incorporating tools like Microsoft Power BI offers more than just streamlined data analysis; it nurtures a profound shift towards a data-driven culture within an organization. Power BI’s intuitive design ensures that employees, irrespective of their technical backgrounds, can quickly adapt and harness the power of data analytics. This adaptation process is not merely about using a new tool; it’s about infusing data-driven decision- making into the organizational DNA. As employees become proficient in Power BI, the organization undergoes a gradual yet transformative shift in its problem-solving and strategic planning approach. With data at the core of key decision-making, this shift fosters agility and responsiveness, enabling swift adaptations to market dynamics, competition, and evolving customer needs. Whether it involves streamlining operational processes, fine-tuning marketing Mr. Muhammad Alageswaran Muniandy MBA University Utara Malaysia alages@hotmail.com Mr. Richard Seow DBA Candidate Mantissa College / Pole Paris Alternance (PPA) Business School richard-seow@hotmail.com