Sales Analysis With Power BI: The amount of data that companies collect every day is increasingly high.
But if correctly collecting the data is easy, what is the most overlooked aspect? Clarity.
Data is an invaluable resource, but its quantity and complexity increase with the improvement of the technologies that allow it to be acquired.
How do you ensure that these data represent a competitive advantage for your company? It would help if you had a tool to dig deep into the information gathered and extrapolate the important ones at the decision-making level.
This is especially true in the context of sales analysis.
Growing competitiveness and changing consumer behavior leads entrepreneurs, CEOs, and marketing directors to perfect their sales strategies.
If the factors driving the sale have changed, how the data is analyzed must also change.
Here then, is that the perfect tool runs to the aid of companies. Indeed, it is possible to carry out a critical analysis of the financial statements with Microsoft Power BI, the tool created by Microsoft, which has become a company leader.
Now we will see why you need Power Bi to do sales analysis.
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Why is it essential to do a sales analysis?
Competitiveness at the company level is increasingly high. This phenomenon is attributable to the easier accessibility to the Internet by anyone who wants to start a business.
The markets have been made universal by the web, and new players start playing every day. Each company needs to know what it is selling and its target audience.
Today it is no longer enough to design a product or service and put it on the market. It is necessary to identify the right audience, identify competitors, understand their strengths and weaknesses, analyze their communication, etc.
Furthermore, companies must also consider the change in habits of the end customer. If before they bought because they needed a certain product or service or because the price was advantageous, now many more factors are at play.
The consumer looks at the competitive price, the quality of what he is buying, and the speed with which he can receive the goods, but there is also so much more.
The final customer buys because he recognizes himself with a brand because the latter represents the status in which he wants to identify and, above all. After all, he is looking for experience.
Why can Power Bi help you?
Power Bi is an analytical tool that allows you to examine large amounts of data, generate reports and show the information in a graphical format capable of speeding up decisions at a strategic level.
Your data can get you huge professional results, but you need to know how to analyze it properly.
Power Bi allows you to conduct a self-service sales analysis through intelligent and secure tools that make Business Intelligence within everyone’s reach.
It is one of the largest and most used clouds by companies. You can create and share interactive visualizations of your data across data centers globally.
But that needn’t scare you on the security side because Power Bi enforces familiar safety labels in apps, extends security policies, meets privacy and regulatory requirements on sensitive data, and blocks any risky user activity.
But the aspect that concerns you the most is that Power Bi shows all the data collected by your company in the form of clear and complete graphs. This is why balance sheet analysis with Power Bi becomes particularly advantageous.
You can view self-service and enterprise data on a single platform and simplify big data analysis. Artificial Intelligence at the base of Power Bi will help you in all of this.
How does sales analytics work on Power BI?
Some marketing activities can be tested by some companies rather than by others. None of them can dispense with sales analysis. The ultimate goal that justifies the existence of any single company is the sale of a product or service. That is why analytics plays such an important role.
Knowing how you generate profits, where you are, and what are the most productive elements is the starting point for understanding how to implement your income.
Here are some of the unique features you can experience with Power Bi:
- Origin of profits: thanks to the graphs, you can understand the profit you have made from each customer and the profit per product;
- Vendor Performance Attribution: Knowing how much your vendors sell is important for dispensing rewards and improving your sales. Through this tool, you can find out the percentage of sales for the top 3 sellers;
- Sales Margin Growth – Rank your salespeople based on their performance and then figure out how you could increase your profits.
These are just a few examples of everything Power Bi allows you to do. Some of the functions it offers are difficult to find in other analysis tools.
It’s time to streamline your business processes
Thanks to Power Bi, you can carry out a sales analysis like never before. You will be able to make the most of up to the last data collected; it will be easier to show the information to the team and, finally, make strategic decisions that will give you a competitive advantage.
Budget analysis with Power Bi allows you to consider aspects that you weren’t able to parameterize until now, increasing the productivity of your entire team and easily increasing corporate profits.
As we have already mentioned, Power Bi is perfect for any business. This is true because any product sector collects data and needs to analyze it to improve the sales sector more and more. So don’t worry; Power Bi is the ideal tool for you too.