Industry use cases for Power BI reporting with ChatGPT
How can accountants use ChatGPT to improve advisory services that report on financial and operational data?
The answer isn’t straightforward – ChatGPT is not the only option. Microsoft is building a ChatGPT-powered tool called CoPilot for Power BI (and many other Microsoft apps). Will accountants just need CoPilot and not use ChatGPT? Will they use both? Or will they use other ChatGPT-powered tools?
In our May 31 webinar “Industry use cases for Power BI reporting with ChatGPT”, Etani’s Cameron Lynch and Theory and Motion’s Inbal Rodnay looked at a couple of use cases for when ChatGPT makes sense, as well as how the unreleased CoPilot will likely work.
Below are a couple of clips highlighting the main points from the webinar including:
Where ChatGPT can (and can't) lower barriers for PowerBI users today
How Microsoft CoPilot will work with operational reports (SimPro) in PowerBI
Using a ChatGPT embedded Assistant to analyse Power BI reports
Will CoPilot replace ChatGPT?
Where ChatGPT can (and can't) lower barriers for PowerBI users today
Data Analysis Expressions (DAX) in Power BI start off resembling Excel formulas but can become more intricate, often requiring support to avoid wasting time and ensure accurate implementation.
ChatGPT proves helpful in explaining the structures and workings of Power BI functionalities, such as "generate series" and parameter tables for what-if scenarios. While GPT can assist those familiar with Power BI, it may have limitations in providing accurate guidance for beginners.
The potential of CoPilots within Power BI to overcome these limitations, offering context-aware assistance and simplifying the process of building and modifying dashboards using natural language interactions.
CoPilots are expected to reduce reliance on extensive scripting and make Power BI more accessible to users of varying expertise levels.
How Microsoft CoPilot will work with operational reports (SimPro) in PowerBI
Shift to cloud-based operational systems: Similar to the shift of financial information to the cloud, there is a growing trend of operational systems like SimPro moving to the cloud. SimPro is a popular platform for tradies (plumbers, electricians, etc.) to manage staff, time sheets, job allocation, invoicing, and staff tracking.
Visualizing SimPro data in Power BI: Examples of operational reports and visuals are shown, including quotes by customers and salespersons.
Understanding graphs and visuals: Copilot can help SMEs comprehend complex visuals, similar to how accountants provide insights through visuals like break-even or NPV. CoPilot can act as an advisory assistant or friend, providing guidance and insights on visuals and data.
Using a ChatGPT embedded Assistant to analyse Power BI reports
EVA is a ChatGPT-powered assistant that is embedded in PowerBI. Embedding is a method to analyse large data chunks for analysis which isn’t possible with ChatGPT.
EVA's embedding feature allows for quick and relevant data retrieval. Uses AI and SQL to extract the right data from a dataset and handle large datasets and perform calculations on the extracted data.
EVA can provide opinions, trends, and explanations along with the requested information. Making it useful for mobile, on-the-go, and advisory meetings.
EVA is in beta, will be released by Etani later this year.
Will CoPilot replace ChatGPT?
We will probably use CoPilot as a natural-language prompt to create formulas and manipulate data, and to create visualisations. It will also help explain what is happening within the PowerBI dashboard.
While CoPilot is good for report creation, DAX modeling, and visual analysis; ChatGPT stands out with its versatility in handling more general conversations.
If you want to see the whole webinar, please drop us a line and we’ll share it with you.
