With your company growing, it gets increasingly difficult to manage all the accumulated data from various sources. You might have a tough time relating it to critical insights. As a decision-maker, you will make hard decisions based on inaccurate data interpretation, that may get escalated in the future.
The Power BI Office 365 is a cloud-based business analytics tool that fixes this issue. It enables enterprises to visualize and analyze their data quickly for enhancing their operations. The tool allows you to prepare rich interactive reports in no time. Moreover, the live dashboard gives you a real-time status update on the health of your business.
Here are a few ways this Power BI tool can aid in making your organization more agile.
Consistent Reporting Standards for KPIs
Across every vertical in your organization, you have critical key performance indicators (KPIs) from different applications. Conclusively analyzing these KPIs will be strenuous, with the KPIs siloed off in the respective software.
Besides, every individual report will have a different format. Power BI consolidates necessary KPI data into one panel with consistent standards. It enables you to avail of a more refined organization-wide perspective of the concerned information.
Sales Versus Marketing Leads Visualization
In many cases, the sales team has difficulties in meeting the predefined targets. The primary reason for this concern is the lack of clarity in the quality and quantity of marketing leads.
Without the right vision, even the best accountant cannot do their job efficiently. Power BI enables you to visualize the relation between these two vital parameters, helping you to make smart decisions and assert agility.
Marketing Health Check
The Internet has transformed business operation techniques, especially in terms of their marketing strategy. Customers now rely on online product purchases. Thus, you will invest more in your online marketing practices to allure customers.
However, while they are researching solutions for their issues, they tend to fall out of the funnel before they purchase. It becomes essential to see what is happening between their click and the sales. Power BI Office 365 assimilates this crucial data in the form of charts so that you can understand the user behavior while selecting a product.
The analysis of this data can help you identify the shortcomings of your product campaign and target demography.
Real-Time Check of Company’s Financial Performance
Enterprises that do not focus on a real-time check of their performance face financial setbacks that have a long-lasting impact on the business. Power BI allows you to evaluate the company’s performance across all verticals.
You can analyze factors like revenue and top-selling products to determine your current market position. Since the tool works on real-time data, sudden fluctuations get instant attention. You can then immediately work on the solutions to mitigate the concerns.
Inventory Shortage Monitoring
While running a business, you need to keep a check on your physical inventory, like your products or office assets. Power BI maintains all records of your inventory figures. It helps you decide when to chip in more units, based on the changing demands of the consumers.
Investing in business intelligence solutions such as Power BI is a game-changer for your business, enhancing its agility.