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choose the second option: Embed Power BI for your organization's internal users—for enterprises
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Application Name : you can use “WIPApp”
Home page url and Redirect URL : use your WIP external URL
Create Application Manually
Go to your Microsoft Azure console / Entra ID / App Registrations
+ Add / App Registration
Entrer name and redirect Url (WIP external URL) then press Register
Once created go to API Permissions and use “+Add a permission “ to add permissions like below from Microsoft Graph (import users) and Power BI Service