Power BI Business Use Cases that Drive Optimum Results

When it comes to data, every organization accumulates a massive amount of unstructured data actively and passively every day. But gathering heaps of digital information isn’t yielding anything unless you can make sense of it and leverage it. This is where Microsoft’s Power BI comes into play.

A cloud-based business intelligence solution component of the Microsoft Power Platform. It comprises self-service analytics, interactive dashboards, custom & embedded analytics, mobile analytics, reporting, and more.

A profitable investment for enterprises across industries as it helps meet their business needs and objectives. In this article, we’ll walk you through Power BI’s practical use cases & how we have helped companies across industries to leverage this ultimate tool that enables organizations to drive profitable results.

So, let’s get started.

Let’s look at practical applications across some of the popular industries that could help save a tremendous amount of time, effort & cost.

Manufacturing

• Manufacturers require access to monitor live data for optimizing operational processes. Power BI enables manufacturers to analyze performance metrics in real-time with machine learning
• Tracks overall turnover rates, margins on the product, consumption rate, defective items & more for various manufacturing units to manage inventories better & minimize overall costs.
• Power BI dashboard enables capture of key metrics such as delivery schedules, stocks, returned stocks, vendors, stock-outs of the vendor’s side to streamline inventory management.
• Ensures timely product deliveries by analyzing supply chain logistics data regularly and helps monitor consignment costs, evaluate shipment performances, negotiate contracts & more.

Insurance

• Provides a holistic view to track everything from claims processing, premium, insurance coverage, to policy costs and the risk associated with it.
• Enables insurance professionals to mitigate claims fraud by early detection and predictive analytics of potentially fraudulent activities.
• Offers insights into whether a product is performing well in a certain demographic or geographical region.

Retail

• Helps gain visibility into the shopper’s insights, patterns, and purchase behaviors to effectively connect with them
• 360-degree view of the entire business from factory to shop floor to make intelligent plans for floor optimization.
• Enables maintaining optimal stock levels through predictive analysis, thereby reducing inventory costs, improving order management and processing.
• Data-driven insights to boost supply chain efficiency while meeting consumers’ demand by maintaining the right balance between supply and demand of the perishable results in reduced operational costs.

Healthcare

• Visualization & analysis of healthcare data that helps keep track of patients testing demands. It helps the healthcare workers to understand and optimize the resource needs.
• Gather, store and manage the electronic health records (EHR) of each patient that consists of data related to patient history past treatments. This helps predict future ailments to offer personalized care.
• Analyze and improve ER processes by providing a track of patients’ journeys, case types, case status, bed allocations, lead times & procedural efficiency.

Rishabh is a Microsoft Gold Certified partner with diverse experience working on BI and data analytics tools & technologies. We have developed several intuitive dashboards & reports which are consumed daily by different people in enterprises playing various job roles.

Here’s a showcase of some of our success stories;

Case Study 1

Sales Information Dashboard Development

A Middle East-based retail giant with multiple business units under different segments struggled with centralized reporting to track & monitor KPIs for making informed decisions.

Solution: We developed a role-based BI reporting system with dashboards for CEO summary, strategies, and more by analyzing their business needs. Further, we even assisted with the seamless integration of different applications to provide a single source of truth.

Key Benefits

• 100% visibility into sales pipeline with relevant trend/milestone mapping
• Store wise analysis over some time & metrics to compare sales with the previous years
• Over 40% accuracy in the forecasting of future KPIs
• 4x improvement in effective decision making

Case Study 2

Multi-Channel eCommerce Marketplace Solution

An Asian eCommerce company with a global presence wanted in the process of unifying buyer-seller engagement to help retail businesses boost sales. This was because while selling their products across different channels, the retailers often tend to face challenges. It was across the management of products across varied categories and on disparate IT systems.

Solution: As their tech partner, we developed a centralized multi-channel e-commerce marketplace solution with visualization capabilities by utilizing Power BI that enabled sellers to host their products and listing on multi-channel marketplace platforms such as Amazon, Flipkart, eBay and more. A custom dashboard helped fetch the data from multiple eCommerce websites through APIs & extract insights for revenue growth comparison.

Key Benefits

• 80% client retention with optimum quality
• 4X increase in operational efficiency
• Effective analysis of revenue generation from different sources to make informed decisions

Case Study 3

Fraud Detection & Prevention Banking Solution

The Canada-based credit union bank wanted to develop a fraud management system to monitor, identify, and prevent fraudulent transaction activities in real-time to increase operational efficiency.

Solution: Our team utilized Power BI capabilities to develop the banking fraud prevention solution that offers early warning signals to consider preventive actions with related data visualization on trends, projecting potential financial fraud scenarios & real-time insights on how to minimize the risks to reduce bank scams.

Key Benefits

• 100% transparent & trackable transactions
• 4x growth in operational efficiency
• Supports a million transactions/second

Case Study 4

Real-time Dashboard for Mining Solution

An NZ-based mining solution provider was on the lookout for a proper reporting and analytical component to get real-time insights into the performance of projects for different clients. This was across instances including, incident analysis, injury management & more.

Solution: Our Power BI specialists performed extensive data analysis and created data models to come up with various KPIs for the different instances. We created role-based performance dashboards for mining insights, trip analysis & more. Further, we enabled seamless integration of various modules within their existing system to ensure data quality, data reliability, and availability is ensured for effective analysis.

Key Benefits

• 40% reduction in employee injuries/accidents
• 30% boost in productivity
• Improved inter-departmental collaboration by 25%

With Microsoft Power BI organizations can quickly connect data from numerous sources into one cohesive dashboard and visualize as much or as little information as they like to make smarter business decisions. Explore the benefits of Power BI to glance over & even learn how to harness the full potential of this software and extract useful actionable data insights.

Power BI is an excellent & robust tool for businesses to assemble, scrutinize & visualize data across the organization. It provides transparent insights into operations & performance which aids in making informed decisions based on real-time data.

As an experienced Power BI development company, we can help leverage the full potential of this remarkable tool from the Microsoft ecosystem to help enterprises gain actionable insights. Count on us for data preparation, identification & tracking of KPIs, 3^rd party platform integration, prototyping, and custom reporting services.