The instinct is to reach for Power BI. Often it is the wrong instinct.
Excel
Best when: the audience already lives in Excel, the data is under a few hundred thousand rows, and people need to tweak assumptions themselves.
Weakness: version control. The moment a file is emailed around, you have five versions of the truth.
Power BI
Best when: you are already on the Microsoft stack, need scheduled refreshes from live sources, and have someone who can maintain it.
Weakness: licensing and gatekeeping. Every viewer needs a licence, and casual users often never log in.
Browser-based HTML
Best when: you need to hand a dashboard to someone outside your organisation, or to people without Microsoft licences, or it needs to work properly on a phone.
Weakness: no automatic refresh. The data is a snapshot, updated when you update it.
The honest rule of thumb
Live operational monitoring by a licensed internal team: Power BI. Modelling and scenario work: Excel. Distributing a fixed view to a board, a client, or a field team: HTML.
Most organisations need two of the three, not one.