Sneak Peak: We update you on what is new on Power BI, give you ways to upgrade your leadership with ways to apply Vision, Empathy, and accountability, help you understand why AI is a Game-Changer for real-time BI & accounting, and help you succeed with Five keys to a successful strategy execution.

Exploring New Data Model Editing Features in Power BI Service

Did you know that Microsoft's Power BI Service has introduced a game-changing feature? This is the data model editing, in its web-based interface. This new feature was timely to bridge the gap between Power BI Desktop and the Service. This enhancement empowers analysts and data professionals to configure and modify data models directly in the Power BI Service, eliminating the need for constant switching between desktop and web. Users can now effortlessly edit relationships, create DAX measures, and manage row-level security, enhancing flexibility and collaboration. Microsoft's commitment to ongoing improvement promises further enhancements, aiming for parity with the capabilities of Power BI Desktop.

Data professionals can now access this feature by enabling the "Workspace level preview" switch in collaborative workspaces, making data model editing accessible through various points within the workspace. With data model editing in the Power BI Service, analysts can enjoy a more streamlined and collaborative approach to data analysis, transforming Power BI into an even more powerful tool for data modelling and visualisation.

How to apply Three Essential Leadership Skills: Vision, Empathy, & Accountability

As an analyst, to effectively apply three essential leadership skills, one must start with the ability to harness the power of vision. This involves meticulously reviewing project documentation to gain a comprehensive understanding of the goals and objectives. A visionary analyst leader should constantly challenge assumptions, promoting an environment where innovative ideas can flourish. Facilitation plays a pivotal role in ensuring team alignment with the vision, fostering collaboration, and keeping everyone on the same page. Additionally, visionary leader doesn't just identify problems; they actively recommend and champion solutions, providing direction and inspiration to their team.

Furthermore, empathy is another critical leadership skill that should be wielded with finesse. It begins with the establishment of rapport and trust with team members. A leader should pay full attention to their team's concerns and perspectives, practising active listening to comprehend the nuances of their viewpoints. To demonstrate empathy effectively, we as leaders must ensure our team perceives that we genuinely understand and care about their needs and challenges. This skill enables leaders to navigate difficult conversations with finesse, transforming potentially contentious situations into opportunities for collaboration and growth, ultimately reaching solutions that benefit all parties involved.

Lastly, accountability is the cornerstone of successful leadership. We should maintain impeccable organisational skills to keep track of tasks and responsibilities. Developing a clear action plan and being willing to adapt and re-plan when necessary ensures that objectives stay on course. Effective leaders understand that perfection is not always attainable, so they emphasise a focus on achieving "good enough for now" results while setting realistic deadlines to maintain momentum. Furthermore, they hold themselves and others accountable for their commitments, fostering a culture of responsibility within the team. In essence, mastering these three essential leadership skills—vision, empathy, and accountability—paves the way for inspiring and guiding a team towards achieving their collective goals.

Why AI is a Game-Changer for Real-Time Business Intelligence and Accounting

This article by Anders Liu-Lindberg will inform you about the transformative impact of AI on real-time business intelligence and accounting. It highlights how automation eliminates manual data entry and account reconciliation tasks, allowing for continuously updated financial records accessible through dashboards. Real-time accounting is contrasted with traditional methods, emphasising its speed, accuracy, and efficiency. He presents a case study of CloudMargin, a fintech startup, using a cloud-based AI solution to automate finance functions and gain valuable insights. It stresses the importance of analysing data as it is created for more effective decision-making. Real-time business intelligence benefits include improved decision-making, streamlined operations, enhanced customer experiences, better ROI, and increased collaboration. I loved how he concluded by emphasising the necessity for businesses and finance professionals to embrace AI innovations for future success.

Five Keys To a Successful Strategy Execution

Catherine Cote believed that setting strategic goals, formulating a plan, and executing a strategy each require a different set of skills and come with their own challenges. Keeping in mind that even the best-formulated strategy can be poorly executed, consider bolstering your execution skills before setting strategic goals and putting a plan in place. Developing these skills can have a lasting impact on your organisation's future performance.

Survey Finds 94% of People Say Procrastination Hurts Their Happiness

Survey Finds 94% of People Say Procrastination Hurts Their Happiness | by Madelaine Weiss | Medium

Procrastination is the act of intentionally delaying tasks that should be completed, and it can have a profoundly harmful impact on analysis and overall well-being. On average, people spend over two hours each day procrastinating, often indulging in internet distractions despite acknowledging the negative impact it has on their happiness. Procrastination and overthinking share a kinship, both originating from the mind's attempt to cope but frequently backfiring. Research from Harvard reveals that more people suffer from procrastination than from alcohol, drug abuse or depression, with alarming consequences. Chronic procrastination has been correlated with mental health issues, heightened stress levels, and reduced general well-being. Furthermore, it manifests physically, as chronic procrastinators are more susceptible to headaches, colds and digestive problems. Even more alarming, procrastination has been associated with severe health conditions like hypertension, heart disease, and cardiovascular illnesses. Its negative effects also extend to underperformance, financial stress, and low self-esteem.

Despite its destructive consequences, many individuals downplay or even embrace procrastination as part of their identity. This is a concerning issue, and it is essential to understand the causes of procrastination to address it effectively. These causes include abstract goals, distant outcomes, a disconnect from one's future self, anxiety, task aversion, perfectionism, fear of failure or evaluation, perceived lack of control, and underlying conditions like ADHD and depression. Procrastination's roots often run deeper than mere task avoidance; it can reflect a struggle for autonomy and control over one's time and priorities. This resistance to external direction can lead individuals like Sue to delay tasks that they don't inherently dislike but resent doing under someone else's command. Hence, procrastination not only hampers analytical processes but also reflects a complex interplay of psychological factors. It's imperative to address and overcome procrastination for the sake of personal and professional well-being.

The Mutual Benefits of Analysts and DevOps Collaboration

Bridging Analytics and Development: The Mutual Benefits of Analysts and DevOps Collaboration – Being An Analyst

The growing demand for rapid, high-quality software development and deployment is impeccably met by DevOps. For Analysts navigating through the multifaceted digital landscape, understanding, and collaborating with DevOps teams is not merely a value addition but a robust step towards integrated, data-driven software development and deployment. As businesses pivot towards more agile and customer-centric models, the symbiosis of Analysts and DevOps will undeniably stand at the crux of innovative, responsive, and strategic IT solutions.

Navigating Variance Between Budget and Actual

Navigating Variance Between Budget and Actual: A Guide for Finance Professionals – Being An Analyst

We often find ourselves in the unenviable position of delivering bad news when there is a significant variance between budgeted and actual results. While facing a considerable variance between budgeted and actual results can be challenging, finance professionals should embrace the opportunity to play a pivotal role in driving financial success. By (1) adopting a proactive approach, (2) leveraging real-time forecasting, (3) empowering ownership, (4) making data-backed target decisions, and (5) building a robust FP&A team, finance officers and analysts can help their organizations close the variance gap and achieve financial objectives. Remember, with the right strategies and a determined mindset, it is possible to not only meet but exceed budgeted targets. Let us be the catalysts for change and inspire others to embrace this transformative mindset.

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