Power BI Accounting Dashboard Best Practices

What’s the best way to keep track of where your company’s money is going? Many accountants would probably say that spreadsheets are the fastest and easiest tools for the job. However, there is another that is even simpler and more reliable: Custom Power BI accounting dashboards. 

This powerful visualization software gives you complete control over all company financials, from inventory and sales revenue to vendor invoices and detailed bank statements. Power BI’s accounting dashboards keep it all in one place so you don’t have to track it down. 

To leverage this software, use Power BI accounting dashboard best practices. This guide will help you build an efficient and sleek-looking dashboard to help you run a lean business. 

Why Use a Power BI Accounting Dashboard?

Microsoft’s Power BI is one of the best accounting tools because it helps users see financial information in complex new ways that standard spreadsheets don’t support. 

You can manually enter sales revenue data into an Excel spreadsheet and display them in one of the basic charts or graphs available in Excel. However, these visuals aren’t as compelling, detailed, or customizable as Power BI’s visuals. They’re also harder to share, as you have to save and upload the graphics into separate slideshows or reports. You also can’t edit them on the fly without accessing the original spreadsheet, manually changing the data, and creating a brand new graphic containing the updated information. 

With a Power BI accounting dashboard, you can generate engaging visuals to help you understand your company’s sales, like:

  • Colorful pie charts showing opportunity count by region;
  • Detailed bar charts showing total revenue by sales stage;
  • Heat maps showing total revenue per branch;
  • Line graphs comparing projected sales to actual sales; and more. 

There are more visual options in Power BI than there are in Excel, but these visuals are also much easier to share and edit. When you create a Power BI accounting dashboard, you can include data filters that automatically adjust the graphics as you remove or add data. Power BI also lets you generate reports or add graphics to slideshow presentations instantly. You won’t waste time saving graphics, manually inserting them into documents or presentations, and adjusting the size or layout to fit the page.

Another benefit of Power BI for accounting is that you can continue using Excel, Power Query, and other Microsoft-supported accounting tools in tandem with the software. Power BI is simply a visualization generator that connects to data sources and displays data in an aesthetically-pleasing way. It makes it easy for accountants to balance the budget and identify potential financial trouble long before it impacts the company’s bottom line. 

How to Make the Most of Power BI Accounting Dashboards

If you plan on using Power BI for accounting, you should follow these three best practices: 

1.Choose the right Power BI accounting license. 

To use Power BI for accounting, you can sign up for a free account or upgrade to a Pro or Premium license. The free account enables you to create visuals and dashboards as well as store a limited amount of data in the cloud. The Pro version builds on the free version, allowing you to share and collaborate on dashboards with other Pro users in your organization. Meanwhile, the Premium version is much more advanced than either the free or Pro versions, allowing you to perform more detailed data analysis and store more data in the cloud. 

The license you choose depends on your needs. Most accountants will be perfectly happy with the free version, since it includes plenty of visual templates. However, if you are part of an accounting team or share information with a Chief Marketing Officer (CMO) or a Chief Financial Officer (CFO), then a Power BI Pro license is a better choice. If you plan on only using Power BI for accounting, a Premium license offers more features than you’ll probably use. This is only the best choice if you store data on premise or require more cloud storage space. 

2.Clean up your data. 

The main problem with financial data is that it isn’t always well-organized or normalized. If you don’t clean your data first, then the visuals you create with Power BI will look messy. Cleaning up your spreadsheets and datasets take time, but it’s worth the extra effort because it enables you to produce cleaner-looking visuals and govern your data more effectively.  

3.Build project-specific dashboards. 

Once you have a Power BI accounting license and a system for organizing your data, you can start building custom financial dashboards. The best method is to build one unique dashboard for every project or department. This prevents dashboards from becoming too complicated or cluttered, so you can focus on issue at hand. 

For example, you can use one dashboard to track overall company expenditures and revenue across all departments for a bird’s eye view of what’s happening. You can build more detailed dashboards tracking expenditures and revenue for each individual department or product to identify specific areas for improvement. 

Here are some examples of effective Power BI accounting dashboards, by data type tracked.

  • Transactions: Type and amount, including debits and credits;
  • Invoices: Payment status and accounts receivable; 
  • Monthly ledgers: Company balance; 
  • Budget: Including projections and goals; 
  • International sales and vendors: Including exchange rate calculations; 
  • Inventory: By location and value. You can also use these dashboards to calculate depreciation; 
  • Total revenue: from sales by product or location;
  • Payroll: Payment timeliness and estimated salary offerings for future hires.

The specific visuals you choose for each dashboard depends on what you want to track and how you prefer to organize the information. Because Power BI accounting dashboards are customizable, you can build them around your preferred workflow. For more specific tips on how to build the most effective dashboard, consult this detailed guide to dashboard database design

The Best Way to Create Impressive Accounting Dashboards

Power BI isn’t the only tool accountants can use to track and visualize finances. While this software is robust, it isn’t perfect for every business.

For example, you have to clean up your data and set up a secure data storage system of your own before you can start using Power BI for accounting. This is a major problem if you want to schedule data updates automatically, as you may inadvertently introduce errors into your visuals. It’s common to export blank cells or flawed data from Excel, which could ruin the look and accuracy of your visuals. Currently, Power BI doesn’t have a reliable system for cleaning up this data automatically. Another limitation of Power BI for accounting is that it’s difficult to tell where exactly each visual should go on the dashboard, particularly if you’ve never designed one before.

This is why many accountants choose to work with third party dashboard accounting experts to help them build the most efficient system possible. These experts can:

  • Automate the data collection, storage, and normalization process so accountants never have to do this work themselves;
  • Create custom visualization dashboards based on the accountant’s workflow and financial strategy; 
  • Incorporate stunning Power BI visuals into these dashboards for a polished final look; and
  • Include more advanced data analytics, including predictive models to help accountants make better financial decisions.

An accounting dashboard allows you to see your data in an entirely new light. By enlisting the help of experts with experience designing these complex visualization tools, you’ll lead your company to financial success.

If you’re an accountant looking to upgrade your financial data visualization system, contact Tek Leaders today. Our team of Power BI experts will help you build dashboards to balance the budget, project future earnings, track recent expenditures, and more. If you have questions about the data visualization services we offer, you can reach us by email directly.

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Power BI for Marketing: Data to Delight CMOs

Chief Marketing Officers (CMOs) have colossal amounts of data at their fingertips. Some have too much data. Forced to work with long, daunting spreadsheets or dull pie charts and graphs, many CMOs find it nearly impossible to make all of their marketing data engaging and insightful. 

This is why modern CMOs need dynamic, state-of-the-art visualization software to breathe life into their data. Power BI’s marketing features are among the best at finding complex relationships between data sets and displaying these patterns with dazzling visuals. When you use Power BI for marketing, you’ll be able to interact with your data like never before. You’ll leverage key marketing insights to captivate even the most elusive of audiences. 

Why You Should Use Power BI for Marketing 

Microsoft’s Power BI is a comprehensive visualization tool that displays complex marketing data sets (such as email campaigns, social media engagement stats, or keyword analysis) in a compelling visual form. there are hundreds of ways to gather data on your customers, products, and competitors. Many CMOs are stuck going through each one of these data sources on a regular basis and updating spreadsheets or charts by hand. This isn’t the best use of anyone’s time. 

CMOs are creative and business savvy c-suite executives who should be focused on coming up with disruptive marketing strategies, not managing databases. By leveraging Power BI for marketing, CMOs save time and energy. They also make better decisions about the company’s overarching marketing strategy. 

The Most Powerful Power BI Marketing Tools and Features 

To use Power BI for marketing, CMOs should consider investing in a Pro or Premium license, as this allows them to do more with their data. Power BI’s Pro and Premium services work by connecting to multiple data sources at the same time. You can export data from social media websites, automated mailing list services, paid keyword services, and more. Once your data is in the system, you can then create relationship models in Power BI by clicking and dragging one data set over another from the Manage Relationship tab. 

After specifying which data sets you want to compare on a deeper level, you’ll select visual aids that best match the type of data you’re analyzing. For example, you could build a column and line chart to track how often your products are mentioned in news stories or blogs and compare this to how much traffic these stories received. 

You’ll find a wide variety of templates like these in Power BI’s marketing visuals list. Or, if you’re skilled with graphic design and Power BI, you can also create a custom visual of your own. 

Another great way to use Power BI for marketing is to build a visualization dashboard that contains multiple visual aids on a single page. You can even include filters that enable you to make changes to the data in real time or drill down to the key performance indicators (KPIs) that matter. With everything on one page, it’s easy to see what needs to be done to improve engagement or products. 

With Power BI’s marketing tools and dashboards, you can: 

  • Evaluate ad campaigns: You’ll see how well your paid keywords or PR stories are performing online and can compare this data to organic search results, news articles, or backlinks. 
  • Perform ad-hoc analysis: If another c-suite executive wants to see how a specific product is performing, it’s easy to pull this information up in Power BI within moments.
  • Get inside your customers’ heads: It’s difficult to know exactly what your audience thinks about a product without building complex marketing models to track these opinions. Power BI’s marketing dashboards enable you to look at every product from multiple perspectives and figure out exactly who buys them. You’ll zero in on your target audience and identify key demographics whose needs aren’t being met yet. 
  • Emphasize customer advocacy: More businesses are taking a customer-centric approach to marketing, and this is paying off. When customers feel cared for and supported, they’re more likely to remain loyal to your brand. CMOs can improve customer advocacy by tracking customer surveys, sales funnels, and other metrics with Power BI. 

These are just a few of the tasks you can perform when you use Power BI for marketing. This is a flexible and comprehensive tool that CMOs can use for a wide number of tasks. However, Power BI’s marketing features have their limits. Some of the most innovation-oriented CMOs may need a visualization software tool that does more than just display marketing data in a compelling way. 

Should CMOs Use Power BI for Marketing? 

Most CMOs love the simplicity and elegance of Power BI’s marketing visuals. The main limitation of this software is that it isn’t as useful for CMOs who perform predictive marketing analysis, automated data analysis, or who need help collecting higher quality data. 

  • Predictive marketing analysis is only available in Power BI if CMOs connect the software to another predictive database that uses machine learning algorithms or other advanced predictive modeling. This system may be time-consuming and costly to implement and requires some knowledge of data science. 
  • Automated data analysis is limited in Power BI because the system can’t be programmed to alert you when data falls outside of a normal range. You’ll have to look at each visual yourself to determine what it says and then brainstorm your own solutions. 
  • The quality of the data is variable in Power BI. The software can perform some basic data normalization, but it can’t recommend what types of data you should collect in order to get the best results. You’re also limited to analyzing smaller data sets, as the software can’t handle extremely large databases

How can CMOs use Power BI for marketing without running into these hurdles? By hiring a third-party data analysis firm to build a custom marketing dashboard, CMOs can get all of the best features of Power BI without any of these downsides. 

A data analytics firm will start by performing a detailed marketing audit and determining what types of data you should be collecting. From here, the firm will set up an efficient system for collecting, normalizing, and storing this data securely. Once the data is stored properly, the firm will build you a custom marketing portal than contains multiple visual dashboards designed to analyze every aspect of your marketing strategy. You can also use this system to generate reports, create new visuals, and share your findings with your team. 

A data firm can also connect these dashboards to a predictive analytics system designed to help you make more strategic decisions. And, the firm will program the database to update automatically and alert you to unexpected changes in real time. 

These tools make it easy to perform the most advanced marketing analysis in moments. With help from a team of experienced data scientists, there are virtually no limits to what CMOs can achieve.

Collecting and analyzing marketing data doesn’t have to be complicated. To get started, contact Tek Leaders today. Our marketing data experts will build a custom visualization dashboard for you that includes all of the most important insights you’ll need to engage with your customers. If you have more questions about Power BI’s marketing visuals and features, you can reach us by email directly.

Author: Shashank Reddy Tummala.

Shashank is the COO of Tek Leaders inc.He helps SMB’s to achieve their goals in their journey of Digital Transformation.

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Is It Wise to Use Power BI for Procurement?

When you run a business, you want to get the best deal from vendors. How do you know whether you’re getting goods or services at the lowest possible price? Is there another vendor out there that can offer you a better deal or faster shipping? 

This is where expert data analysis can help. By performing a detailed cost-benefit and cost-utility analysis, you’ll sign contracts with the most reliable vendors in your industry. Microsoft’s Power BI is one of the best tools for visualizing this type of data. It displays extensive vendor comparisons to help you make the right decisions. 

However, there are a few limits to using Power BI for procurement purposes. Let’s look at the pros and cons. 

The Benefits of Using Power BI for Procurement 

Although Power BI is a simple visualization tool that displays sets of data in detailed charts or graphs, businesses can also use it during the procurement stage to select the best vendors for raw materials or operational services. The main benefit of using Power BI for procurement is that it makes this complicated and time-consuming process much faster and simpler.

During the procurement stage, managers have to determine which goods or services the business needs to operate or manufacture products effectively. To do this, managers first gather a list of potential vendors or suppliers that can provide them with these raw materials or services.

Not only are there often hundreds and sometimes thousands of vendors to choose from, but it’s also hard to judge which vendor has the best offer at face value. Procurement managers usually spend hours researching individual vendors, including:

  • Analyzing the quality of the service and the value that they will bring to the business;
  • Negotiating price;
  • Reviewing proposals and contracts;
  • Discussing transportation, shipping, and other logistical details; and more.

Managers who use Power BI for procurement are able to see all of this data on a single page and even compare multiple vendors at once. Managers can build custom Power BI dashboards that generate visuals based on procurement-related data sets, like material cost or estimated time to delivery.

With the Power BI software, procurement managers can:

  • Compare prices and discounts offered by hundreds of vendors to find the best deals; 
  • Show what times of the year vendors usually offer the deepest discounts so that managers can schedule re-orders or negotiate new contracts at these ideal times;
  • Determine which vendors can ship products or materials the fastest; and
  • Gather real-time performance data on current vendors, including delivery reliability, product and service quality, lead time, and net margins. 

The advantage of using Power BI for procurement is that you can begin using it as soon as you sign up for a Power BI Pro or Premium account. It doesn’t require any special training or knowledge of data analytics. Procurement managers simply select the visuals they want from a set of Power BI visual templates and upload their procurement data into the Power BI cloud system.

With this tool, managers can quickly see which vendors deliver the best products at the lowest price. They can also share these visuals with upper management to justify working with a reliable vendor over an inferior competitor.

Another benefit of using Power BI for procurement is that it helps managers check in on the vendors they already use. It’s common for vendors to change their products or services in an effort to cut back on costs. This may lead to an inferior product or delivery delays. By tracking how vendors are performing every month and frequently comparing current data to this past data, procurement managers will ensure that their vendors are holding up their end of the bargain. You’ll avoid working with vendors that cut corners.  

However, while there are many advantages to using Power BI for procurement, it’s not the most advanced system for comparing and tracking vendor performance. There are plenty of limitations to this software that procurement managers may find frustrating. 

What Power BI Can’t Do 

The main downside of using Power BI for procurement is that procurement managers still have to make most of the decisions on their own. It’s more of an optimization tool than robust decision-making software. Power BI makes data more readable, but it won’t perform any complex calculations for you. You still need to collect quality data and process this data before you upload it into a visual template. 

One area in particular that procurement managers may miss with Power BI is the lack of predictive analytics. For example, the price of raw materials like metals tends to fluctuate over time. Vendors may charge you more for these materials in the future due to these changes in the material’s market value. A powerful predictive analytics software could track the historic price of the material and calculate accurate projections of what the price of this material may be in the near future. 

Power BI is not a predictive analytics tool. It can only display the data that you supply. You have to use a combination of Power BI dashboards and predictive analytics software to perform these types of complex calculations. The Power BI software can still help you share this predictive data with your team or compare it to other data sets in visual form, but if you want to maximize your data, then you will need more than just Power BI for procurement. 

Should You Use Power BI for Procurement? 

If you are just looking for a simple visualization tool to help you organize your vendor data and track the procurement process, then using Power BI for procurement is a very wise choice. It features some of the most compelling visuals on the market and is easy to learn, even if you have no experience with this type of visualization technology.

However, if you’re looking for a tool that does more than just display procurement data, then Power BI isn’t the best option. It’s extremely limited in scope when used on its own. 

For more advanced data analysis, you should consider hiring a third-party data analytics firm that can create a detailed procurement portal for you. Data experts will build a custom visual dashboard that is as simple to use and as visually compelling as Power BI dashboards. However, unlike standard Power BI dashboards, these dashboards will also be linked to powerful machine learning algorithms and other predictive analytics software that can help you make more reliable procurement decisions. 

Procurement is complicated because markets and costs are so inconsistent. When you deploy algorithms that are designed to drill down and identify hidden market trends, the procurement process is much less unpredictable. You won’t have to change your strategy after you lose an important vendor or a vendor suddenly charges more for its products or services. Data analysis can help you predict many of these events in advance, giving you more time to take precautionary steps or start shopping for new vendors.

With the combined forces of Power BI visuals and predictive data analytics, you’ll master the procurement process and run a lean, efficient operation. 

If you’re looking for a simpler way to analyze vendor services, contact Tek Leaders today. Our team of data analysts and procurement experts will help you build an efficient system for comparing all of your industry’s leading vendors. We’ll also provide you with the tools you need to keep track of your margins and vendor performance so that you can maintain low overhead and get the most from your investments. If you have more questions about whether you should use Power BI for procurement purposes, you can reach us by email directly.

Author: Shashank Reddy Tummala.

Shashank is the COO of Tek Leaders inc.He helps SMB’s to achieve their goals in their journey of Digital Transformation.

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Is a CIO Dashboard in Power BI Right for Your Organization?

Visualization dashboards help CIOs interpret data so that they arrive at the right conclusions every time. CIOs use these tools to replace guesswork and arbitrary IT staffing levels. The best results come from CIO dashboards in Power BI that track preferred KPIs and are built around existing workflows.

By designing a well-organized dashboard, you will lead your IT teams confidently and inspire them to achieve more. 

What Can a Power BI CIO Dashboard Do? 

Microsoft’s Power BI is a platform for visualizing data. Users connect Power BI to a data source and upload their data into a visual template of their choice. There are hundreds of visuals available, designed to analyze data from many different angles. 

To save time, users can also create dashboards in Power BI that display multiple visuals on one page. With these dashboards, you can filter your data by type or range and the visuals will change automatically based on your inputs. 

A CIO dashboard in Power BI is made specifically to help CIOs perform their daily tasks and make big-picture decisions.. The dashboard features data and visuals related to the company’s IT strategy and technological needs. 

Why do CIOs need a dashboard like this? Today’s CIOs are expected to do more than ever. They must:

  • Manage IT staff schedules and performance;
  • Balance the budget;
  • Hire appropriate IT experts in every field;
  • Oversee software patches and security rollouts; and
  • Educate themselves on innovations that will drive the company forward; and more. 

CIOs often take most criticism when things go wrong with IT. One misstep or bad decision can have lasting consequences. This is why more CIOs are relying on tools like CIO dashboards in Power BI. It helps them to stay on top of staffing needs and to delegate tasks to individual team members. Data-driven CIO decisions are less likely to involve costly mistakes.

Creating a CIO Dashboard in Power BI 

Make a list of all of your responsibilities at the organization. You should make at least one dashboard for every task. These may include: 

  • Data logs: You can connect your CIO dashboard in Power BI to Microsoft’s Azure Activity Logs. This allows you to see how your data is being used and identify problems immediately. In Power BI, this information is displayed in a chart of your choice and is automatically updated whenever the SQL database is refreshed. You can check this log every day for potential issues.
  • Compliance states: Power BI linked to Intune Data Warehouse enables you to see device configurations and whether these devices are fully compliant based on your organization’s standards.
  • IT troubleshooting: CIO dashboards in Power BI can be designed to include data about server status, security issues, and devices requiring software patches. You can see which devices or hardware are currently posing a problem and get them fixed before they lead to excessive downtime or security breaches.
  • Sales, market trends, and budget: There are many visual templates for tracking these metrics in Power BI. Sales, market trends, and budgets affect the IT department and determine how much the CIO can spend on upgrades.
  • IT project tracking: CIO dashboards in Power BI include Gantt charts that can track project progress and show whether teams are meeting deadlines. 
  • Assessing current IT strategies: CIOs can keep scorecards or track KPIs for new staff members or third-party vendors to ensure that the services they provide are actually bringing value to the organization. 
  • Downtime analysis: When the system goes down, a dashboard can track when and why it happened and identify downtime trends that CIOs can use to prevent it from happening again in the future. 

If you’re still unsure exactly how to organize your CIO dashboard in Power BI, break your tasks down into one of the following categories and keep similar tasks together on a single dashboard: 

  1. Portfolio management. This includes project budgets, schedules, deadlines, staffing, staff performance, and project risk analysis. 
  2. IT health. This includes data or tasks related to downtime and uptime, training, maintenance, software patches, hardware upgrades, and changes that will reduce operational costs. 
  3. Troubleshooting and customer satisfaction. This is any data related to customer surveys, how long it takes for customers to receive help from IT staff, and how quickly IT staff can fix problems. 
  4. Big picture decisioning. Working with upper management, you can identify the core business principles that your organization follows and track overall IT performance to test whether it aligns with those drivers. For example, if your organization wants to respond to customer inquiries within 24 hours, CIOs can track this metric and ensure that IT staff are also following this company-wide guideline. This is also where you can analyze the budget to determine whether you have the resources you need to introduce a new IT strategy

You have so many possibilities when you build a CIO dashboard in Power BI. However, the system does have its limitations

Should You Make a CIO Dashboard in Power BI? 

The main limitation of Power BI is that it only tracks data after the fact. When something happens, Power BI logs it right away, but if you want to find out whether something will happen, you’re out of luck. This is a problem for CIOs because they have a responsibility to come up with forward-thinking solutions. 

For this reason, many CIOs are hiring third-party dashboard experts to link CIO dashboards in Power BI to predictive analytics software. This gives them the power to make accurate predictions. By combining Power BI visuals with machine learning algorithms, CIOs can: 

  • See how easy or difficult it would be to change the IT strategy;
  • Analyze hardware or software vulnerabilities and limitations; and
  • Project future budgets and technical requirements; and more. 

While CIOs should incorporate CIO dashboards into their workflows right now, they must also consider future needs. By discussing their options with a data analytics firm, CIOs can maximize the use and ROI of this technology. 

Are you looking for an easy way to manage your IT staff and make better data-driven decisions? Contact Tek Leaders today to learn more about our dashboard services. Our team of Power BI experts can build a custom CIO dashboard that tracks data in real time and can predict the outcomes of your decisions. To get a free audit of your current IT strategy, you can reach us by email directly.

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How Can You Use Power BI for Production?

Production lines involve thousands of daily details. From assessing operational risk to calculating each product’s contribution margin per machine hour, product and operational managers need a simple tool to do it all. 

Power BI for production is one of these streamlined tools. It lets managers create responsive dashboards for overseeing complex product portfolios and improving manufacturing efficiency. 

In this guide, you’ll learn how to build a clever Power BI dashboard that includes all of the visuals and features needed to grapple with your production data.

Power BI for Production

Power BI is a visualization tool, but it can do more than just display data in a chart. You can also use the software to build custom production dashboards that display multiple pieces of information on a single page. This lets production managers see all of their data at a glance. 

Power BI for production is a robust tool that lets managers see customer behavioral data alongside operational data. This helps them make better decisions about how to manufacture products in the most efficient and customer-friendly way possible.

Managers who are short on time never have to hunt for customer surveys or balance production budgets by hand. Power BI automatically pulls data from an on-site source or cloud warehouse and generates compelling visuals in the dashboard. All the manager has to do is publish the results and invent an action plan. 

Another benefit of Power BI production dashboards is that you can configure them to filter data you’d like to see at any given moment. Production managers can analyze operations at a specific plant or by product. They can also see which customers buy which products by comparing demographic information to average sales. 

The goal is to find opportunities for your organization to grow and to refine products so that your customers are more satisfied with the results. It makes your passive data more actionable.

To use Power BI for production, you need to build a custom dashboard that fits your products, staff, manufacturing process, and customer base. This requires some knowledge of the Power BI system, but it’s fairly easy to learn, even with little-to-no experience with data analysis and visuals.

Building an In-Depth Production Dashboard 

Start by making a list of all of the data you currently collect on your customers, products, staff workflows, and manufacturing process.

You may not be able to include all of this information in a single dashboard, since cluttered dashboards are more difficult to navigate and use. Instead, you should build a few dashboards based around the insights you need. 

For example, customer demographic information and satisfaction ratings can be used to determine: 

  • The customers’ average interest in a product by location, age, sex, or income. You can use a heat map or pie chart to analyze this information. 
  • How long it takes your customers to move through the sales funnel. Using a Gantt chart, you can create a set of milestones for staff as they guide customers through the funnel. You can compare how long it takes customers to move through each step for continuous improvement. 
  • Patterns in customer satisfaction ratings. You can’t please everyone, but if multiple customers are complaining about the same thing, it’s a sign you need to improve your product. Power BI’s color-coded bar charts can show what percentage of customers were satisfied with a particular aspect of a product compared to those who were dissatisfied. 

By breaking these insights up into three different dashboards, you can drill down to the information that really matters to you. In general, managers should focus all of their dashboards around one of three central aspects: 

  1. Internal operations, including staff schedules, budget, manufacturing details, plant performance, and materials. 
  2. Market analysis such as competitor market shares, industry trends, and product compliance regulations. 
  3. Customer relations, including satisfaction scores, pain points that aren’t currently being addressed, and target audience analysis. 

You should have at least one dashboard for each of these three aspects. This helps you to stay on top of all of the details that matter and to lead your team in the right direction. 

Making a custom dashboard in Power BI isn’t always as easy as it first appears. If you’re unsure which visuals to use to present your information in the clearest way possible, then building a dashboard may be a struggle.

The Best Way to Use Power BI for Production 

The best method for using Power BI for production is to hire a data analytics firm to help you create dashboards from scratch. 

Many of these firms partner with Power BI to help production managers visualize their data. They start with questions about your workflow and responsibilities. Data scientists look carefully at the type of data you collect and offer suggestions on how to improve it. They may suggest  collecting additional data for better results. The result is a series of dashboards that analyze and display your data from multiple perspectives. Data analytics firms also check in with you periodically to ensure that the system is working well, and to make adjustments as needed. 

Data experts know how to collect and report actionable data. They can take the vaguest production goals and translate them into detailed and user-friendly analytics. 

Hiring experts is a must if you want to do more than just visualize your data. Power BI can only display your data in charts and graphs. It can’t dive deeply into the information to identify hidden patterns, or project results based on predictive modeling. 

A data analytics firm can combine these features in your Power BI visual dashboards. From a single location or portal, you can quickly generate visuals based on existing data or generate visualizations of future outcomes. You can predict what may happen if you make a change to your production line or introduce a new product. You’ll no longer take a shot in the dark and hope for a positive result. You’ll know.

Contact Tek Leaders to learn more about how you can use Power BI for production. Our data analytics experts will help you create effective dashboards and integrate them into a secure, user-friendly portal for complete production line management. If you have more questions about our tools and services, you can reach us by email directly.

Author: Shashank Reddy Tummala.

Shashank is the COO of Tek Leaders inc.He helps SMB’s to achieve their goals in their journey of Digital Transformation.

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Power BI Pro vs Premium Comparison Chart

Should you go with Microsoft’s Power BI Pro or Power BI Premium? Both have benefits and flaws. The best version is a matter of personal preference and business strategy. Some companies rely on the advanced analytic capabilities of Power BI Premium, whereas others are perfectly happy with the beautiful visuals they can create using Power BI Pro.

To help you find the version that fits your company’s strategy, we’ve put together a handy Power BI Pro vs. Premium comparison chart. With this information at your fingertips, you can decide which system will help you leverage your data most effectively.

Power BI Pro vs. Premium: A Comparison Chart

There are three versions of Power BI: free, Pro, and Premium. Each version brings something different and helps you analyze your data from multiple perspectives.  

By comparison, the Premium version of the software is substantially different from the free and Pro versions. It includes more advanced data analytics tools, larger data storage limits, cloud computing, greater processing control, and on-premise data storage connectivity and support.

For an in-depth look at how these two versions differ, consult the detailed Power BI Pro vs. Premium comparison chart below: 

Features Power BI Pro Power BI Premium 
Cost $9.99 per user per month $4,995 per storage resource per month
Maximum data set size 1 gigabyte 10 gigabytes 
Maximum total storage 10 gigabytes per user 100 terabytes per storage resource
On-premise options and a dedicated processing environmentNoYes 
Report sharing optionsOnly with other Pro users Share with anyone 
Connects to Power BI Report Server NoYes 
Data refresh rate Eight times per day 48 times per day 
Cloud storage options Yes Yes 
Data encryption Yes Yes 
Create visuals and reportsYes Yes 
Connected to Microsoft Excel, SharePoint, and other supported systemsYesYes
Mobile and desktop apps available YesYes

Using this Power BI Pro vs. Premium comparison chart, you can decide which version is right for your company.

Which Version Best Suits Your Needs?

It’s important to think carefully about the pros and cons of each Power BI version before you invest in a new system. To make this decision, ask three questions.

1.Does the system meet your current data analytics needs?

Why waste valuable resources and funds on a system that can only store some of your data and perform a limited number of tasks? If you need advanced data analytics and a great amount of cloud storage space, then you should use Power BI Premium or hire a third-party data analytics services firm. Large enterprises in particular benefit from these types of tools because they offer more direct control over data storage and security. The Premium software version also handles larger data sets, which is important for many large-scale businesses.

However, Power BI Premium isn’t the best tool for every business. This system has many features you may never use. Take another look at the Power BI Pro vs. Premium comparison chart above. Are there any features of Power BI Premium or Pro that you don’t plan on using? If so, then it may be better to hire a third-party data analytics firm to create a custom system for you from scratch. As a general rule, you should never spend more than you have to on the best data analytics tools.

2. How fast can you deploy the new system?  

For more advanced tools like Power BI Premium, there may be some additional costs and time involved in implementing the software and hardware into your existing system. Ideally, the tool you pick should still be easy to integrate into your infrastructure and ready to use soon after you pay for the service. This also increases your return on investment (ROI), as you can start generating insights almost immediately. 

When you compare Power BI Pro with Power BI Premium, the Pro version is much faster to deploy. You won’t need any special hardware or other equipment to get started. As long as you have a device that connects to the cloud, you can generate robust visuals and reports instantly. However, the drawback of such a simple system is that it’s not as customizable or comprehensive as a more elaborate system like Power BI Premium. You have to balance ease of use with the software’s data analytics capabilities.

3.How much does the system cost?

Power BI Pro also has a leg up on Power BI Premium in terms of price. The Pro version only costs $9.99 per user per month. This is well within the budget of small businesses that only plan on getting a Pro license for a handful of employees or managers in the office.  

Power BI Pro becomes less cost-effective when you scale up your operations. For example, if you need to generate insights from very large data sets and have multiple team members collaborate on large reports together, then Power BI Pro is pricey and limited in scope. Not only will you only be able to store a small amount of data at a time, but you also would have to buy a license for dozens or even hundreds of users, depending on your needs. These costs add up quickly.  

However, a Power BI Premium license isn’t necessarily the most budget-friendly choice for large enterprises either. You may have to build your own infrastructure and manage on-site servers. Alternatively, you could hire a third-party data analytics firm at a lower monthly cost. As an added benefit, these firms can customize the system to fit your exact needs so that you’ll only pay for the features you’re currently using. You can scale the system up or down quickly as your needs change.

The Limitations of Power BI Pro and Power BI Premium

A simple Power BI Pro vs. Premium comparison only tells you so much. Both of these systems have flaws, so to pick the right one, it takes a nuanced decision-making process.

Remember that there are many more tools available than just Power BI Pro or Premium. When you compare these two systems, keep in mind that there may be a third solution that offers all of the benefits of Power BI without any of the downsides.

A custom data analytics and visualization system may be a better fit for your company than either Power BI Pro or Power BI Premium. This type of system is less expensive than Power BI Premium, yet it offers many of the same features and services. A third-party vendor can offer you more than just baseline features. You also get a detailed BI roadmap, a thorough BI audit, custom portals and dashboards, and visual aids designed specifically for the type of data you collect and track.

If you’re in the market for a new data analytics and report generation system, look beyond Power BI alone. Weigh all of your options to weed out the least effective tools and narrow your search down to the most advanced and cost-effective systems on the market.

To start generating powerful visuals and reports, contact Tek Leaders today. We build custom interactive dashboards and visualizations using the most advanced data analytics tools. If you have questions or would like to request a free business intelligence audit, you can reach us by email directly.

Author: Shashank Reddy Tummala.

Shashank is the COO of Tek Leaders inc.He helps SMB’s to achieve their goals in their journey of Digital Transformation.

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