How to Hire BI Consultants in Australia

Business intelligence helps organizations make the best of their data and use visualization reports for effective decision-making. Hiring the right consulting company can boost your business in several ways. Here, we’ll discuss how to hire BI consultants in Australia. Business intelligence is a suite of applications, processes, and technologies to collect, store, and analyze data to derive actionable insights for decision-making. BI helps organizations use historical and real-time data to make effective decisions quickly and gain a competitive edge in the market. Statistics show that the global BI market will touch $33.3 billion by 2025.  Enterprises around the world are adopting business intelligence tools to make fact-based decisions. In fact, according to a report, 70% of organizations think that data discovery and data visualizations are crucial to detecting trends and patterns when making important business decisions. Establishments from the government, public, and private sectors in Australia are eagerly investing in data analytics and business intelligence to increase profits and become industry leaders.  However, many aspects should be considered when hiring BI experts to work with your business. In this blog, we’ll read more about what business intelligence consultants do and how to hire the best BI consulting company to help you achieve your goals.  What Does a BI Consultant Do? The BI consultant has many responsibilities in an organization. They help streamline internal processes to increase efficiency and optimize the use of resources. BI experts also help understand customer behavior, market trends, competitors’ moves, etc., for a business to make proactive decisions and stay one step ahead.  A BI consultant is responsible for collecting data analytical reports, managing data storage, documenting the process, and tracking the outcomes of various analytics. Other roles include:   Business intelligence consultants handle multiple tasks and systems simultaneously to ensure that real-time analytics are accessible. They use tools like Microsoft Power BI, Tableau, Qlik, etc., to set up analytics and customized dashboards for data visualizations.  It’s vital to hire experienced BI consultants to ensure seamless data flow and accurate analytics in the enterprise. That’s why many businesses in Australia (and around the world) prefer to hire BI consulting companies instead of building an internal team from scratch.  How to Hire BI Consultants in Australia Identify Business Needs When hiring a BI consultant for your business, you should start by identifying your organization’s needs. Do you want to adopt data analytics across all departments? Will you start small with a pilot project and scale it over time? What are your priorities? How do your existing legacy systems work? Which areas do you want to improve by using BI?  The top management and C-level executives should have a clear picture of the organization’s past and present. Understand your business goals to know what to expect by adopting the data-driven model in the enterprise.  Prepare a Budget Do you have the budget to make the necessary changes in your business processes? Paying BI consultants is just one aspect of the project. Consider the bigger picture. The BI specialist will recommend changes to the systems and processes. This costs money and can go out of control if you don’t have a definite budget and funds allocated to it.  This point is crucial for SMBs and emerging businesses with limited finances. Discuss your budget with the BI consultant. Select the processes you want to revamp using BI. Customer service, sales, and marketing are the three most common areas where businesses adopt analytics.  Freelancer Vs. Company Building an in-house team is very expensive and can easily multiply your costs. However, you can choose between a freelance Power BI consultant and a consulting company. A freelancer usually works alone and has limited resources, while a company has a team of experts and uses its resources to help your business.  Furthermore, partnering with a full-fledged BI company allows you to hand over the entire responsibility to them and focus on your core business. They offer end-to-end solutions and long-term maintenance services to upgrade the systems whenever necessary. Since the company will be familiar with your systems, it becomes easier to detect errors, minimize risks, and increase ROI over time.  Research and Shortlist Consulting Companies Before partnering with a BI consulting company, make sure to read more about the leading service providers and create a shortlist of the ones that suit your business. For example, a small business may not be able to afford the prices of a multinational BI company. In such instances, SMBs can research service providers who specialize in working with growing businesses.  Furthermore, your industry and market are also important. Does the consulting company have experience in the niche and understand the local and national market conditions?   One-to-One Meetings Once you shortlist the BI companies, schedule a meeting with their experts. The meetings can be in-person or virtual but make sure you talk face-to-face to determine which company is the best fit. You can have more than one meeting before making the final decision.  Be sure that the BI consultants can understand your business from your viewpoint and offer a fresh perspective. Your thoughts and goals for the business have to be aligned to eliminate future complications. Finalize the service provider only after careful consideration.  Choose the Right BI Tool The market has many BI tools with extensive features. Many of these can be used as desktop versions, cloud services (SaaS), and mobile apps. However, its the time to select the one that suits your business processes.  For example, Microsoft Power BI is a popular business intelligence tool used by several enterprises, financial institutions, manufacturing companies, healthcare centers, etc. That way, you can hire a Power BI developer when finalizing the consulting company. The specialist will set up Power BI and integrate it with other software in your business. They will create and customize dashboards based on your requirements.  Reasons to Hire Power BI Consultants Another Perspective of the Business When you hire outside consultants, they bring a fresh perspective to look at your business and find effective solutions. Furthermore, an experienced consultant will have better domain knowledge and a good grasp of industry

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7 Top Power BI Companies in UAE

Microsoft Power BI is a suite of BI apps and services that allow enterprises to convert raw data into meaningful visualizations and reports. Here, we’ll discuss the role of the top Power BI companies in the UAE and the Middle East.  Data analytics and business intelligence are prominent in today’s world. Startups, SMBs, large enterprises, and multinational brands require data-driven insights to make better decisions for their business. Statistics show that the global data analytics market is worth more than $100 billion in 2023.  There is an increasing demand for data visualization tools like Microsoft Power BI to present insights in appealing graphical reports to the end user (employee). The latest news article shows that the Middle East is experiencing a rapid digital transformation. Many companies use data and technology to make effective decisions and overcome challenges. The various analytical and AI-based events happening in Dubai, UAE, and other Middle Eastern countries are examples of this development.  UAE-based businesses are partnering with consulting firms from around the globe to adopt technologies like Power BI for day-to-day decision-making. In this blog, we’ll read about Microsoft Power BI in brief and find out which company is best for Power BI consulting services.  What is Microsoft Power BI? Power BI is a business intelligence package with a collection of software tools, apps, connectors, and services that streamline the data flow and convert raw data into actionable insights, which are presented to the end user in a visual or graphical format. Power BI connects multiple data sources and runs analytical queries to identify patterns, trends, etc., in real-time. It has five major components that work together to deliver the necessary insights and data visualizations to employees.  Microsoft Power BI is a robust business intelligence and data visualization tool with an interactive interface and easy-to-use features. An employee at any vertical can use Power BI to access data and insights and stay up-to-date. Every team and department can customize the dashboard to align the KPIs with business goals and derive real-time analytics.  Power BI Companies are offshore consulting firms that partner with Microsoft and have experts who create and customize data visualization dashboards. A handpicked team from the company will understand your business requirements and create a strategy to build and deploy data pipelines, connect multiple systems and applications, and set up Power BI integrations. The team will also create customized dashboards for each department or vertical as required by the enterprise.  This reduces the time, cost, and resources spent by the brand in building an entire system from scratch and testing it in different environments. Enterprises can start using Power BI in less time, and that too without any disruptions.  What are the Top Power BI Companies in the UAE? 1. DataToBiz DataToBiz is the best Power BI company with years of experience in offering personalized services to businesses from around the world. The company has many clients from the Middle East and has helped brands adopt the data-driven model and unlock the power of data using advanced visualization tools. It is one of the top Power BI companies worldwide, with 71% of clients leveraging the platform for analytics and insights.  The offshore BI solution provider offers comprehensive end-to-end services to digitally transform an enterprise and increase ROI, customer satisfaction, and performance. A few services by the company are as follows:  DataToBiz creates customized Power BI dashboards for businesses from varying industries like manufacturing, healthcare, retail, transportation, supply chain, sales, oil & gas, eCommerce, FinTech, EdTech, entertainment, government, and many more. The company is a certified partner of Microsoft, AWS, and Google and has a 97% project satisfaction rate.  2. Euclidz.ai Euclidz offers state-of-the-art products and services to help businesses adopt the latest technology to transform their processes to achieve their goals. The company combines artificial intelligence and human intelligence to help organizations align their systems with their vision and KPIs. It works with businesses from various industries and helps implement digital transformation in all verticals.  The company has offices in Dubai and India to assist businesses in gaining a competitive edge in the market. It aims to provide brands with the necessary IT infrastructure and support services to leverage different kinds of data and derive insights in a quick time. The following services are offered by the company:  Euclidz delivers self-servicing business intelligence solutions through Power BI implementation. It helps unify the enterprise data scattered across various systems and create secure connections to cloud storage servers. The company builds business dashboards to facilitate access to data and encourage collaborations.  3. TechMantra TechMatra is a strategic IT consulting company that designs and deploys complex IT solutions to help businesses overcome their challenges and achieve the desired results. It provides innovative services to assist enterprises in dealing with the constantly changing market requirements and trends. The company works with clients from UAE, Gulf countries, and India to increase productivity, security, efficiency, and reliability.  The global consulting and outsourcing company aims to make lives simpler and drive success using technology. It provides seamless collaborative services to businesses from many industries and builds client-specific solutions to enhance ROI. The company offers the following services:  TechMantra sets up Power BI for desktop or mobile phones to ensure that employees have access to data at all times. The company works with different third-party platforms to develop custom integrations in an enterprise and provide real-time data visualizations.  4. Business Experts Bemea is a Microsoft Gold Partner that offers comprehensive solutions to help businesses use Microsoft Dynamic tools to streamline finance, operations, and other internal processes. The company provides business cloud solutions for enterprises to revamp their systems and become successful in competitive markets. It has experience in different industries and provides customized solutions, multi-site ERP implementations, vertical add-ons, etc., to boost a business.  The company has a presence in Middle East and South Asian countries and works with many SMBs and enterprises in the UAE. Its services include the following:  Bemea implements Power BI in enterprises to help the management discover the hidden patterns and trends using business intelligence to make

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How to Set Up Power BI Sales Dashboard – Effortlessly Visualize Sales Data

A sales analytical dashboard will empower you to gain an edge over competitors and increase profits for your business. Here, we’ll discuss the steps to create a sales dashboard in Power BI.  The sales team has to don many hats. From creating marketing strategies to directly interacting with end users, the sales department is burdened with a heavy workload. Sales analytics helps the teams stay up to date and be proactive in handling leads to increase revenue.  Investing in business intelligence tools provides the department with the necessary technical support to be one step ahead of competitors.  According to Finances Online, 90% of sales and marketing teams mention that BI tools increase their work efficiency Similarly, a business intelligence sales dashboard is the best tool to empower sales reps and help them make the right decisions.  Microsoft Power BI is among the most used business intelligence tools in the global market. Setting up a Power BI sales dashboard and customizing it for the business will ensure that the department can monitor leads, customers, revenue, expenses, profits, and all other KPIs (key performance indicators) in real-time. You can achieve this by partnering with offshore BI service providers.  In this blog, we’ll discuss the steps to set up a Sales Power BI Dashboard for the team. We will also look at the reasons to hire offshore Power BI experts instead of building an expensive in-house team from scratch.  What is Microsoft Power BI? Power BI is a suite of applications developed by Microsoft to process large amounts of data and analyze it in real time. The insights are presented on the interactive dashboards through data visualization. The graphical reports are easy to read and used for day-to-day decision-making. Power BI is a cloud-based business intelligence tool that can be adopted in different departments of an enterprise.  What Goes into a Sales Dashboard? A sales dashboard is an interface that provides actionable insights by processing data from CRM systems. Building a BI sales dashboard can be complex. You should correctly identify the KPIs to track and goals to achieve.  Before you decide to set up a weekly sales dashboard, you need to consider the following: A few important metrics or KPIs to include in your sales dashboard are: The effectiveness of reports depends on how accurate your KPIs are and how well you customize the Power BI sales dashboard to align with your business goals.  How to Set Up Power BI Sales Dashboard? Setting up a Power BI sales dashboard involves eight steps. The process can be simple or lengthy, depending on the data volume, sources, dashboard layout, and KPIs.  1. Create Your Power BI Account  The first step is to create a Power BI account. You can start for free by clicking on the Try Free option on the Microsoft Power BI website. Provide your official email ID or Microsoft 365 login details if you already have an account. Complete your profile and follow the instructions on the screen to set up your profile.  2. Import Data from Sources  The next step is to import the data required to create dashboards. You can upload Excel or CSV files (exported from other platforms or apps). Microsoft Power BI accepts different types of input files.  You can also integrate Power BI with databases like Salesforce, Dynamics, SharePoint, Azure, etc. Power Bi is compatible with several CRM systems and third-party databases. You can set up API integrations for real-time data flow between the platforms. In fact, you can get data from multiple sources simultaneously.  3. Import Datasets with Report  Once you complete the data importing step, you should import Power BI datasets to create the dashboards. Power BI adds a dataset and reports when you import data to the platform. The reports are automatically generated using PowerView sheets.  4. Select Tables to Generate Reports  The tables in the imported data can be automatically converted to visualization reports. Go to Navigator View and click on the Edit option. Go to Query editor to add and filter the data in tables to create the reports.  5. Define Relationships Between Data Sources  By defining the relationships between different tables, you can create custom visualization to accurately monitor every one of the sales KPIs. You can create a Power BI revenue dashboard by following the same steps.  Select Foreign Keys to establish the relationships between two or more tables (data sources). Take time to correctly assign the keys and define relationships and click Ok when done. You can go back to the Report View through the tab on the top left.  6. Customize Visualization Elements  So, how do you want to display sales data? The choice is yours. You can customize the interface to suit the sales teams’ requirements.  Microsoft Power BI offers great visualization to present reports in graphical formats. You can choose the types of graphs, charts, etc., you want to see on the sales dashboard. Drag and drop the necessary elements onto the dashboard. You can also move them around and adjust their size, positions, filters, etc.  7. Dashboard Embedding  For third-party integrations, enter the login details to your database account. Follow the instructions on the screen to configure the database. The reports are ready to be embedded in other platforms.  8. Create Power BI Application  This step is optional. You can register an application with Microsoft Power BI to get the application ID and code generated to create the app.  Why Hiring Business Intelligence Consulting Companies is a Smart Move  Setting up the Power BI sales dashboards requires expertise. The talent  gap is a real issue in many enterprises. You can hire new talent, train existing employees, or opt for offshore partners to handle the project. By hiring a BI consulting company, you get the following benefits: Greater Industry Experience  BI service providers work with different businesses and have deeper knowledge about the process of setting up Power BI dashboards for sales. For example, DataToBiz has clients from various industries, ranging from manufacturing to healthcare, IT, retail, supply chain, eCommerce, etc., and works with MSMEs,

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Power BI Supply Chain Dashboard: What Can It Do for Your Business?

Supply chain analytics helps businesses understand their datasets to make informed decisions about their logistics and transportation processes. Power BI is an incredibly useful business intelligence tool to create supply chain dashboards and use the insights in real-time. Let’s discuss the role of supply chain analytics and Power BI in various industries.  The supply chain is a network of people, businesses, and processes that ensure that a company continues to produce and sell products/ services in the market. From sourcing raw materials to moving finished goods to the warehouse and delivering them to the end customers, the supply chain network is intricate, complex, and systematic.  The implementation of the supply chain strategy has an impact on the success of a business. After all, how can a company deliver the products/services to the end-users if it cannot source the materials or transport the finished goods as per the schedule?  Covid-19 has disrupted the global supply chain, and the Middle Eastern markets, too, faced the same trouble. Challenges such as shortage of labor due to lockdowns, increase in demand, and reduction in supply and adhering to the safety protocol makes it difficult for businesses to manage their supply chain. However, the companies also know a solution to the problem.  Many Middle Eastern businesses are heavily investing in technology, especially artificial intelligence, to make their supply chains more resilient even in adverse conditions. For example, Hypermotion Dubai is an ME edition of the German-initiated convex that gives the transportation and logistics industries a fresh start. The aim is to be sure that the emirate continues to lead in supply chain management and speed up development.  The Dubai-based global logistics company, Aramex, has built a data lake and streamlined its supply chain process by relying on machine learning. This led to a whopping 74% increase in shipping accuracy. It also resulted in a 40% reduction of calls to customer support. Middle Eastern companies know that digitalization is the way to the future. Business intelligence for the supply chain is becoming an integral part of various companies.  But what is supply chain business intelligence? How does it help the companies, and which BI tools can be used to build a supply chain dashboard?  What is Supply Chain Analytics?  Supply chain analytics is the analysis of the individual elements of the supply chain that work together to help the business achieve its goals. Procurement, inventory, warehouse, order management, shipping, and deliveries are the elements of the supply chain.  Understanding how every element contributes to keeping the supply chain running will help businesses overcome roadblocks and prevent delays. While there are various software applications to manage individual elements, companies need to bring it all together on a single platform/dashboard. This makes it easier to identify the correlations and come up with the necessary solutions.  Types of Supply Chain Analytics The following are the four major types of supply chain analytics that help enterprises improve the efficiency of their business operations, streamline logistics, and save time and money without compromising quality.  Key challenges that Supply chain analytics solution solves: Actionable Advice for Data-Driven Leaders Struggling to reap the right kind of insights from your business data? Get expert tips, latest trends, insights, case studies, recommendations and more in your inbox. How Do Companies Use Supply Chain Analytics?  Companies use analytics to process and analyze the data generated at different points in the supply chain. The logistics dashboard empowers companies to stay up to date and get real-time information about their supply chain processes. It gives them the information to make last-minute changes and make decisions based on historical and real-time information. Managing local, national, and global supply chains is simpler when using supply chain analytics.  How Can Supply Chain Analytics Transform a Business?  Businesses need to invest in building supply chain dashboards to make the most of data analytics. Since companies don’t often have in-house teams to manage business intelligence, they hire offshore solution providers to create the BI dashboards. Many AI service providers recommend Power BI for supply chain analytics. Power BI is a Microsoft product that helps build business intelligence dashboards for various business requirements.  Power BI experts help business enterprises use supply chain analytics to transform their business in the following ways:  Streamline Inventory and Warehouse Management  Accurate forecasting can reduce the uncertainties in inventory and warehouse management. Analyzing customer preferences, purchase history, market trends, and the inventory at different distribution centers will help businesses plan the stock in their inventory to keep up with the customers’ requirements. It is one of the most vital supply chain management techniques.  Increase Sales Knowing which products have a higher demand and anticipating the changes in the market conditions will increase sales for the business. Supply chain analytics gives the management the necessary insights about the demand and supply ratio for their products. Releasing products into the market at the right time will give the business a better chance to capture the customer base. Improve Quality Standards  The quality standards here pertain to the logistics and supply chain processes. For example, the Power BI logistics dashboard will make it easy to identify the gaps in the supply chain that are causing disruptions in procurement or deliveries. By rectifying the gaps, the business increases the quality standards of the process and gets higher returns.  Data Utilization  How a business uses the supply chain dataset determines whether it can achieve its goals or not. Big data solutions facilitate businesses to better understand the changing demands in the market. Not only does supply chain analytics use historical data, but it also processes real-time information from multiple sources to increase the accuracy of the forecasts/predictive insights. Supply chain analytics makes businesses proactive instead of reactive.  How is Power BI used in Supply Chain Management? Power BI is a popular business intelligence tool used by enterprises of all sizes and volumes. Multiple dashboards can be created for each department to provide employees access to the centralized data sets and the derived insights. Supply chain analytics using Power BI improves functional efficiency and aligns the processes

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Power BI HR Analytics Dashboard: Simplify HR Processes

Data analytics for HR helps streamline the human resource processes within the organization. The Power BI dashboard is commonly used to derive actionable insights to improve employee performance and retention rates. Let’s read more about the importance of HR analytics in an enterprise.  The HR (Human Resource) department is the heart of every organization. From recruitment to compensation to performance appraisal and employee wellbeing, the HR department plays several roles in the enterprise. The HR acts as a mediator or a bridge between the employees and the management or enterprise. It’s no surprise that the HR department is already burdened with work. Providing them access to the latest technology and means to derive insights in real-time will help reduce the workload and create a healthy environment throughout the organization.  HR analytics or people analytics is the key to helping the HR department provide a better working experience for the employees. Unlike other analytics, HR analytics doesn’t collect data about employee performance. It gathers data about the HR processes and the work environment so that the processes can be made more efficient to keep employees happy and productive. Issues such as high employee turnover rate, decreased productivity, employee grievances, etc., are the focus of HR analytics.  What is HR Analytics?  Human Resource or HR analytics is where analytical processes are applied to human capital in the business to improve outcomes and enhance critical talent. The analytics aims to provide in-depth insights into the HR processes to increase employee retention, performance, and productivity.  The Covid-19 pandemic has affected the Middle East market along with the rest of the world. A report published in Jan 2021 showed that around half of the employees wanted to change jobs. While some responders said that flexible working and job security were their primary factors, 45% admitted that a higher salary was their aim. The employees in Gulf and UAE regions saw an increase and decrease in salary. While the increase was to retain top-level professional employees, the pay cuts were due to the pandemic and resorted after the market conditions improved. Around 64% of the employers in the Gulf said they would be hiring additional staff in 2021 and 2022.  So how does the HR department make these decisions in volatile market conditions? They rely on HR analytics to understand the existing situation and come up with a new one. A survey report by CIPD showed that 82% of the respondents were already using HR analytics in the Middle East. Almost 72% of them responded that they will continue to invest the same amount or increase the investment in HR analytics.  Middle Eastern organizations are actively upgrading the legacy systems and adopting the latest technology to provide employees with more growth opportunities. HR analytics will continue to play a vital role in helping organizations design robust and agile end-to-end HR processes.  How to Get Started with HR Analytics?     Data analytics in HR helps build the data-driven model to make decisions based on actionable insights in real-time. Implementing HR analytics requires proper planning and continuous monitoring to ensure that the analysis reports are accurate.  Have a Data Management Plan  How do you plan to manage the data within the organization? Start by creating a data governance program and define policies to collect, clean, process, and store data. Then you need to align the data definitions with analytical processes and focus on the four main key areas of human resources- recruitment, absenteeism, turnover, and retention.  Choose the Reporting Software Which reporting and visualization software do you want to use to derive analytics? For example, Power BI is popular software for HR analytics and is used by many businesses from around the world.  Build the Dashboard  You also need to determine whether you have the necessary talent to run analytics or if you need the assistance of a Power BI consulting company. Many organizations in the UAE hire offshore solution providers to set up the HR analytical dashboard. The metrics you choose for the dashboard should align with the KPIs of your business and achieve short-term, midterm, and long-term goals.  Run a Pilot Test  You don’t need to invest heavily in HR analysis from the very first day. Start small by focusing on minimum metrics and run a pilot test to see how the insights are helping in making faster and better decisions. Gradually, you can expand the dashboard and hire HR analysts to manage the processes.  Actionable Advice for Data-Driven Leaders Struggling to reap the right kind of insights from your business data? Get expert tips, latest trends, insights, case studies, recommendations and more in your inbox. Work on Capacity Building  HR analysis reports are used to improve the processes and capacity of your business. Focus on one target group first before implementing the changes throughout the enterprise. Starting with the capacity building of HR Business Partners is recommended as they are the ones who are in constant contact with your customers. Consider Data Privacy and Security  Dealing with employee data means you have to be extra careful about data privacy. Your employees need to know that their data privacy rights won’t be compromised to run HR analytics. Set up policies to find a balance between both.  What are the Benefits of HR Analytics? The HR analytics dashboards help the business adopt a strategic approach to growth and development.  How Power BI Consultants Can Help You Overcome the Biggest HR Analytics Challenges? Though the HR analytics dashboard offers numerous benefits to the organization, the process is not without challenges and complications. How you overcome the roadblocks determines the success of your enterprise. Power BI consultants can help the HR team find a comprehensive solution for the challenges and create HR analysis dashboards to derive real-time insights.  A Gap in Talent Pool  As we previously discussed, the lack of data analysts within the enterprise can make it hard to use technology and derive insights for the HR team. This problem can be solved by hiring offshore consultants.  Bad Data  The accuracy of the reports depends

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Power BI for Retail Industry: Dominate the Sector

With an increase in competition in the retail sector, it has become extremely important for every retail company to understand advanced technology stack, people and data. Power BI is one such technological advancement that allows retail businesses to leverage its functionality for data visualizations to improve their profitability and efficiency while acting on real-time insights.  In fact, the usage of any business intelligence tool is considered a crucial key to managing a company’s data in this digital age. It is used to generate reports, surface insights and connect to a wide range of information for better understanding. The reports offer visualization of the data that boosts the sales for the business by facilitating better planning and strategizing. Today, we will discuss the applications of Power BI for retail and what makes it one of the most efficient retail reporting tools.  Benefits of Power BI in the Retail Industry Since the outbreak of the pandemic, the retail industry is slammed with the challenge of uncertainties. Moreover, the growth of digitalization has enhanced customer expectations. As per a survey, the e-retail industry in the Gulf Cooperation Council (GCC) region was predicted to grow at the rate of 12.2 percent of the offline retail in the year 2025 (before the COVID-19 pandemic). The forecasted penetration rate grew to approximately 16.3 percent after the pandemic.  Therefore, customer demands follow a different pattern in today’s digital era. Along with the products or services, the customers are also given equal importance in today’s economy. Every business and retail industry is looking forward to providing their customers with quick satisfaction and a smooth experience. The retail industry is suggested to analyze and collect the data for coping with the changing customer expectations and rising demands. With the applications of Power BI, the industry can expect the transformation of raw data into actionable retailing insights. It can offer every business a 360-degree view of their entire industry at a glance. Moreover, the efficiency of the Power BI retail dashboard helps understand the selling and buying habits of the customer. Thus proving to be the top retail business intelligence tool in the e-retail market. Let us look into the major advantages of using Power BI in retail: Since it is clear how Power BI for retail can prove to be beneficial, let us now understand its technicalities.  How Does the Power BI Sales Dashboard Work? As we discussed earlier, the business intelligence tool by Microsoft helps to analyze data present in different sources and build dashboards and reports based on the data. Top-level management effectively uses Power BI’s dashboard for retail operations as it is capable of generating an alert once it notices low stock. It helps to create accurate reports on the profitability of the products. Apart from endless uses of the Power BI retail dashboard, the report generated by the BI tool helps to analyze the cash tied to the existing stocks. The industry can avail the advantage of getting the data source with the help of Power BI. Companies can keep track of the inventory status, changes in customers’ shopping trends and the value that any supplier holds using the BI tool. For example, a Customer Analysis Dashboard will help evaluate profit and sales while generating valuable insights based on product turnover-related, dynamic customer behaviors. As an illustration, retail companies in the Middle East and North Africa (MENA) could analyze a decrease in in-store shopping following the COVID-19 pandemic. Further, noticing an increase in shopping via the PC. A survey conducted in 2020 supported the data analysis by predicting the growth curve of the e-commerce industry in the Middle East region to accelerate to five years in about five months. How Would the Retail Industry Use Business Intelligence? The powerful dynamic of business intelligence can be used in many ways by the retail industry. Some of the most useful ways are as mentioned below: Following up with Changing Trends Keeping up with the latest customer trends has become seamless with the help of Power BI. Now every industry can use Power BI to analyze big data that projects the pattern of change in the customer’s purchasing behavior. Using the retail visuals can help the industry monitor, plan and assess the effectiveness of various promotional activities. It can also draw a report on how a particular group of customers reacts to specific marketing campaigns.  Moreover, the Power BI can collect social media data while analyzing it to measure the high engagement level, track the demographics, and assess the influencing behavior while understanding the buying patterns. With the help of the retail analytics dashboards, you can boost the efficiency of the supply chain while meeting your customers’ demands. It can also help meet the seasonal demand while enhancing the forecasting ability. Get the Omnichannel Experience The multi-channel retail would get replaced with the help of a more engaging omnichannel experience. Power BI helps to unify the customer in every action and touchpoint. It helps to treat the single-channel interaction for a more delightful customer experience. Power BI helps to aggregate the data from various offline and online sources with the help of a visualization tool that helps predict user behavior. It also helps get a unified picture of the expectations and demands of the customer. Assessment through the budget is only possible with the help of Power BI. It helps to understand the different areas of intelligent plans, cost-cutting, predictive analysis and floor optimization to balance the demand and supply of the perishable results. Assists All Team Members The data analysts can dig deeper with the help of the advanced features of Power BI, including map visualization. It also helps them unfold the platform’s predictive analysis potential by using R scripts. The team helps the executive keep an eye on the critical parameters while helping them with an all-encompassing and comprehensive report generated via Power BI sales dashboards. It can help them to access a high-level picture of the situation within less time. The top-level management is

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Power BI for Banking: Dashboard to Analyze Financial Operations

Power BI is a product by Microsoft developed to help with business analytics. Power BI is an effective tool for banks to track KPIs and streamline their services. This blog elaborates on the role of Power BI in the banking industry. Let’s see how consultants help banks use Power BI. With the various technology solutions available and implemented in the banking industry, a lot of staple tasks are already eased with them. Banks are always bustling with activity. Customers come to deposit money, withdraw money, apply for loans, and so on. The multitudes of transactions per day are a part of the process. The yearly balance sheet with profit and loss is one way to measure a bank’s success. However, it’s not enough. Banks need to know what and how their customers feel.  How is the bank’s performance when measured against the KPIs? Are the procedures easy for customers to follow? How can a bank identify where the problem lies? Business analytics is the answer to these questions. Power BI is an effective data analysis tool developed by Microsoft. Banks can collect data from multiple sources and measure their performance using a single platform. Power BI consulting partners assist banks in using this effective tool to track KPIs and analyze the success of their financial operations.  What is Power BI? Power BI is a collection of software, apps, and connectors that gather data from multiple sources, convert it to a readable format and derive insights through data analysis. The insights help make the right decisions to boost the business and increase customer satisfaction.  It is a well-known product of Microsoft and has three major components:  Why should banks consider Power BI? Power BI is not limited to data analytics. It is also a data visualization tool that generates customized reports for the given information. Data is collected, processed, and monitored in real-time. Power BI can help banks track the profitability ratio of customers, products, and services, as well as the branch’s performance against all KPIs (Key Performance Indicators). Business enterprises and banks use Power BI to access the latest insights and get a complete perspective of their operations. The Power BI banking dashboard gives banking professionals a deeper and better understanding of their services and customers’ response to the services.  Power BI is mainly used for the following:  How to use Power BI for Banking? A banking dashboard is a business intelligence tool where data collected from multiple systems across the bank is presented on a single platform. The employees and management can access all information through the dashboard. From customers’ accounts to loans, deposits, and defaulters, the analytics dashboard shares the overall picture of the bank in real-time.  Power BI is indeed a powerful tool for developing the banking dashboard to track the firm’s performance based on factors such as customer trends, new process results, financial operations, and so on. The dashboard has various elements, ranging from KPIs assigned, KPIs comparison, customer acquisition ratio, etc. Banks can add or delete elements in the dashboard to customize as per their requirements.  Power BI is used in the banking industry to create the dashboard to manage data and derive insights. The BI tool gathers data from the given sources and analyzes them to share the comparisons and insights on the dashboard. Banking professionals can measure how well the bank is delivering the expected results and identify the areas for improvement.  Banking KPIs/Visuals that can be Tracked on Power BI Dashboard Financial transactions play a vital role in the banking sector. Customers are directly involved in the process and can impact the bank’s success.  Even though there is no definite list of KPIs a bank has to monitor, the following are commonly used by banks and financial institutions. Power BI service providers assist banks in designing and customizing the dashboard to include the necessary KPIs and track performance.  Financial KPIs Expenses Expenses are the costs incurred by banks for daily operations. These are divided into interest and noninterest categories.    Revenue  The inflow of cash to a bank is called revenue and can be classified as deposit fee, transaction fee, service fee, loan interest, and so on.  Operating Profit  This amount is obtained by subtracting expenses from revenue. For a bank to do well, the revenue should be more than the expenses.  Return on Assets The net income of the bank is divided by the total number of assets to determine the return on assets.  Assets Under Management  Usually termed AUM, it shows the total value of assets managed by the bank. This KPI is measured quarterly by most banks.  Return on Equity  The total bank income divided by the equity owned by shareholders gives the return on equity and is measured in percentages.  Operational KPIs  Total Deposits and Loans  A bank with high deposits is considered reliable and trustworthy. By measuring the loan growth against the overall progress, banks will know if they are on the right track.  Customer Satisfaction Score  The customer satisfaction score is calculated based on trends, demographics, industry sentiments, response rate, feedback, surveys, etc.  Net Charge-off Rate  The net charge-off rate is the ratio of recovered debt to gross charge-offs. It shows the unrecovered debt of the banks and helps in maintaining a lower rate by making better decisions.  Efficiency Ratio  It shows how well the bank is managing the assets and liabilities in the long term. The efficiency ratio is derived by dividing operational expenses by revenue.  Actionable Advice for Data-Driven Leaders Struggling to reap the right kind of insights from your business data? Get expert tips, latest trends, insights, case studies, recommendations and more in your inbox. Benefits of Power BI for Banks Why use Power BI for banking? What benefits does the data analytics tool offer banks and financial institutions? How does Power BI help banking professionals?  Tips for a Successful Power BI Implementation Power BI in the banking industry is no longer a theory. Many banks have successfully integrated Power BI into the existing systems.  Role of DataToBiz in Serving a Renowned

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Power BI: How to Implement Advanced Analytics with Data Integration?

SMEs are on the way to becoming data-driven enterprises by investing in data analytics and business intelligence. This move is to empower themselves to make better decisions based on reports generated by advanced data analytics tools.  Revamping the business systems and processes by integrating the latest AI, ML software allows enterprises to collect, store, process, and understand the vast amounts of data generated every day. Historical and real-time data from numerous sources is gathered in one place and processed using BI tools such as Power BI to gather valuable and accurate insights. In this blog, we will learn about the need for data integration and how Power BI can be used to implement advanced analytics with data integration.  What is Power BI? Power BI is a product of Microsoft used for data analytics and visualization. The layout resembles an advanced version of Excel, belonging to the same company. The main job of power BI is to bring coherence to your data and present it in a visually appealing and compelling manner. It guarantees data accuracy, consistency, and reliability.  Though the software belongs to Microsoft, many data analytics and BI consulting firms are Power BI partners and help enterprises integrate the software into the business systems. You can take the assistance of these firms to enhance your business processes and become a data-driven enterprise.  What is Data Integration? Data integration is an inherent part of advanced analytics. What will the tools process if there is no data available? But what exactly is data integration?  It is the process of bringing together data from various systems and sources within and outside the enterprise. Any data that is considered valuable for the business is collected from across the internet.  It is common for one department in the organization to ask permission to access data collected and stored by another department. Data integration makes it easier for employees in all departments to access any data they need to complete their work. The process is automated and streamlined to reduce human error and delays.  Advanced analytics is the process of examining data autonomously or semi-autonomously using tools and techniques that are beyond the traditional business intelligence tools. Advanced analytics is used to obtain deeper insights, make accurate predictions, and provide recommendations to the top management. What are the Types of Data Integration? Data integration is not as easy as it sounds. But it is not impossible either. There are different ways in which data integration services can be provided. Let’s take a look at the types of data integration in brief.  Data Consolidation It is the process of physically bringing together data from different sources and consolidating it in one place. This reduces the need for excess data storage at multiple locations.  Data Visualization It is the process of presenting data in an easy-to-understand and visually appealing manner so that it becomes easier to interpret data based on numerous factors.  Data Propagation It is used for real-time data processing where information from one place is copied to another (data sharing). This is usually two-way communication between two systems or departments and is used for large amounts of data. Data Warehousing  It is the process of cleaning, formatting, and storing data in data repositories such as in-house servers, colocation centers, or remote cloud storage servers. This is data integration.  Data Federation It is a form of data visualization that uses data abstraction to facilitate a unified view of data from multiple sources. This data is analyzed and presented using tools like Power BI. Data federation is used when data consolidation is too expensive for SMEs to invest in.  What are the Benefits of Data Integration? If data integration wasn’t beneficial, we would hardly see organizations willing to invest in it, right?  So what are the benefits of availing the Power BI consulting services? How does it help enterprises in becoming better than their competitors in the market? SMEs have to work with limited resources that make it rather difficult to compete with multinational enterprises. But data integration helps businesses become efficient in optimizing the resources to get more efficient outputs.  When data is seamlessly available across the enterprise, it improves communication and collaboration between different departments. It also leads to better customer services as the support staff has all the details required to deal with customers.  Any enterprise armed with data analytics tools is better equipped to deal with competitors in the market. It gives you an edge over others and lets you expand the business to newer markets.  When you can rely on reports and insights created by advanced software, you will naturally become a better decision-maker. You have a solid backing to support your decision. There is no need to work with outdated reports or copy a competitor without knowing how a decision will impact the business in the long term.  It is not easy to convince employees to adopt new procedures and systems at work. Power BI services from offshore consulting firms help train employees and make them understand the importance of working on advanced analytics. This increases the willingness of employees to adopt new technology and digitally transform the business.  Challenges of Data Integration  Do you know that about 2.5 quintillion bytes of data are generated every day? The US economy suffers losses of around $3.1 trillion per year due to the poor quality of data. Now is the right time to invest in data integration and advanced analytics. But it doesn’t come without challenges of its own.  So how do you find a way to work around these challenges? Power BI development services help you in overcoming the challenges by- Glossary of Data Integration While the actual list is extensive and includes hundreds of terms, we have listed a few terms regularly used by data and BI analysts.  Analytics The process of analyzing data to derive meaningful insights and patterns from it. Big Data Vast amounts of data are collected from numerous sources and processed at high speed to get real-time insights.  Data Connector A tool that works continuously to replicate data

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How to Use Power BI to Extract the True Value of Your Data?

Processing data sets to identify patterns and trends to draw meaningful conclusions is called data analytics. It helps enterprises use real-time and historical data to derive insights that help in decision-making. Data analytics requires the use of modern technology and tools. Business intelligence, reporting, and data visualization are components of data analytics. These together help organizations adopt the data-driven model and streamline the business processes. One of the notable business intelligence tools in the market is Power BI by Microsoft. Several SMEs and large enterprises worldwide use Power BI to connect, model, visualize and share data across the business. You can either hire Power BI professionals or rely on offshore Power BI services provided by consulting companies. Microsoft calls Power BI a powerful to bridge the gap between data and decision-making. It has several features that help you extract the true value of data and understand it to make the apt decisions for your business. Types of Power BI  Power BI is a package of several products and services. These can be used individually and together to attain the expected results for the organization. You can understand how Power BI works by reading the beginner guides. Power BI Desktop  This is a free self-servicing tool that can connect to 70+ in-house and cloud data sources. It helps analyze data and generate reports. Power BI Service This service is a cloud-based service hosted on Microsoft’s cloud platform to allow employees to access dashboards and reports through different devices (browser, mobile, etc.). Power BI Pro This is a paid cloud-based service with additional features that facilitate collaboration between teams. It allows easy sharing of data reports and can embed the data visuals into Power BI apps. Power BI Premium This is not an application. In fact, it is a service that allows you to share the reports in the cloud with people from outside the enterprise. It brings flexibility and scalability to the app, making it possible for an organization of any volume to adopt Power BI with ease. Power BI Mobile This can be used on smartphones with Android, iOS, and Windows 10 operating systems. Power BI Report Server This is used to access the reports created using the desktop or the Pro version. It is an on-premises report server that allows your employees to access reports from any device and location. It is beneficial if you have limited storage capacity on the cloud or external data centers. Power BI Embedded This is for developers to embed Power BI to other software and application used within the enterprise. Advantages of Using Power BI  Power BI is undoubtedly one of the best tools to make the most of your business intelligence capabilities and gain an edge over competitors in the industry. The following are some of the advantages of using Power BI- Features Power BI has rich and user-friendly features that help the process, analyze, and present data in attractive and easy-to-understand formats. Data visuals can be generated independently or in collaborative environments. System Integrations Power BI can be integrated into different apps to produce and share reports throughout the enterprise. The features can be customized to suit the varying needs of each business. Easy Accessibility Since Microsoft Power BI can be used on multiple operating systems and devices, it increases accessibility to data and data analytics. The apps are user-friendly and can be used by employees with little or no training in Power BI. That said, this aspect is limited only to the end-user features. Regular Updates From Microsoft Microsoft doesn’t just release products into the market and leave them. The company constantly improves the features, adds new ones, and makes Power BI even more powerful. Multiple Data Sources Collecting real-time data is now easy with Power BI. Whether it is IoT sensors, social media, media, or any other source, collecting raw data in real-time and using it for analytics is a quick and easy task. The changes in data will be automatically reflected in the reports and on the dashboard. Seamless Integration Power BI consultants can integrate the tool into your business environment with apparent ease. Whether you want to use it through cloud services or on-premises servers, experts will ensure that the process is streamlined and simplified. This allows end-users (employees from different departments) to use Power BI for data and report sharing with any team member. Personalized Dashboards The dashboard is one of the greatest features of Power BI. Apart from allowing employees to get real-time reports and edit them using several features like drag-and-drop, the dashboard can be personalized by each employee. The sales team will need reports of one kind while the accounts team needs another. The elements in the dashboard can be customized (added and removed) to suit the team’s requirements. Secure Data Processing and Reporting Microsoft knows the importance of data security and has provided enough options to set up security levels for data analytics and sharing reports. Employees who generate the reports can set up Row-Level Access filters that allow only certain teams to edit or modify a section of the report. This brings a balance between data sharing and data security. Employees can view the reports, but only those with permission can edit them. Ease of Setup and Use Setting up Power BI is as easy as it can get. There is no need to put the team under extensive training to use the tool. Experts from Power BI consulting companies will handle the initial process, and employees can use the dashboards to use the reports in their day-to-day work. Customization of Power BI App The app can also be customized to make navigation simple, fast, and effective. If your employee has to spend precious time searching for the required data, it doesn’t make sense to use such a powerful tool, right? By customizing the navigation, employees can find data and reports in less time and complete their work. Breakdown of Information The main aim of using Power BI is to understand data. If the data visuals are complex and confusing, how

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  • July 26, 2021
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A Definitive Guide to Power BI for Beginners

You want to gain competitive advantage from your data analytics but don’t know where to start. Or have you started using Power BI but don’t really know how to optimize its usage in your organization? If yes, then this post is exactly what you’ve been searching for. In this article, I’ll reveal everything you need to know about Power BI. You’ll also get some tips to boost your productivity using Microsoft’s cloud solution. Power BI is one of the newest tools offered by Microsoft, offering several interesting features such as dashboards, reports, analysis etc… With this tool, it’s now possible to manage large amounts of data easily thanks to the ability to visualize them in attractive ways. You can create your very own dashboard or even build a custom report. But before you jump into building those awesome visualizations, there are a few things you should know first. Let’s go through each one of these aspects carefully. What is BI or Business Intelligence? Before digging into what is Power BI and the benefits of using it as a tool, it is important to understand the basics of BI. Business Intelligence or BI is a process that analyses and converts raw data into coherent and actionable information for use in analysis of business operations. Firms that have incorporated BI for making decisions have experienced better performance and productivity. Teams are observed to be delivering up to a ten-fold increase in ROI. If stats are to be believed, the absence of BI in a firm has shown a high percentage of raw data, as much as 99 percent, left unutilized. To sum it up, business intelligence uses tools to take raw data, and then converts it into smart plans, aiding in right decision-making. BI helps organizations and businesses adapt an object-oriented approach by defining KPIs and setting benchmarks to have an aligned direction for achieving goals. Moreover, BI makes it possible to organize and manage the otherwise unmanageable data into controllable streams, while putting it into respective uses. What is Power BI? Analytics is a major concern today considering we live in a data-driven age. It deals with discovering, interpreting, and processing data to reach a conclusion. Albeit data and business analysts have multiple tools to choose from, they always go for something that is convenient to use and provides easy access. Power BI tool from Microsoft is a collection of software services, apps, and connectors that work together to utilize all sources of raw data into coherent, easy-to-process, visually compelling, and interactive insights. Curated by the tech-giant Microsoft, Power BI allows the user the access to resources they need to aggregate, visualize, analyse, and share data. Connecting to a wide range of data resources from a basic Excel sheet to databases, and both cloud-based and on-premise apps, This business intelligence tool gives the user the convenience of sharing intelligible insights of what’s happening in their business. Often used as an umbrella term, Power BI can also refer to either a Windows Desktop application called Power BI Desktop, or mobile Power BI apps on a Windows OS device, as well as for iOS and Android devices. Who can use Power BI? Often it is observed that business intelligence products tend to fall in the user-friendly zone for profiles like business analysts and data scientists. But thanks to its user-friendly and easy-to-process nature, Power BI can be used by a wide range of people in an organization. In fact, one of the major reasons for Power BI to be so widely popular is the point that users irrespective of their technical expertise level or background find it convenient for use. Because of its versatility and useful features, professionals consider Power BI in healthcare industry as a must-have tool. Organizations who do not have an in-house Power BI service, usually outsource it to another firm that has rich experience in data science and related tools. Such is its effect on users and growth of organizations, that there has been a spike in demand for Power BI developers and services in almost all the industries. Businesses wherein creation of data models and reports for analysis is mandatory, may or may not have the skills to operate all the BI tools. In such cases data science consulting firms such as Datatobiz turn out to be extremely supportive, as Power BI is an essential tool for data scientists and analysts to work on. Cumulatively, Power BI works with data in whatever way it is asked to do, so you can use it in any way. A couple of industries that use Power BI regularly are airline, hospitality, healthcare, and retail. Departments irrespective of the industry the firm belongs to, that use this BI tool include finance, marketing, human resources, and IT. Why are organizations or individuals using Power BI? Power BI facilitates intelligent decision-making, eventually reducing the likelihood of failure and mitigating inherent risks. The data that BI processes are available for viewing and interacting 24*7 from anywhere, as long as you have mobile access. The mobility that it provides is considered a star feature against other BI tools where access to viewing is restricted to a particular location only. This convenient feature allows the users to pull, process, and share real-time data anywhere anytime, making Power BI services rise in demand. Data security is a major concern for any organization irrespective of the industry. Power BI lets the user track and control data usage, granting access only to those who are supposed to have it, without having to bother tech support or IT security elements. Power BI also offers the flexibility to save data on cloud storage, thus preventing exposure of sensitive data by blocking risky user activities in real-time. That apart, Power BI is scalable, so it can fit under any organization and is capable of handling changes in size, be it a rapid business expansion or an unexpected downsizing. The beauty of Power BI is its ease of use, even by people who

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