With strong and precise business intelligence and analytics features of Power BI, finance executives are able to get a grip on data-driven insights, granting them the ability to support strategic processes with professionalism. Through Power BI utilization, finance departments can dig further than previously possible to discover crucial information about financial data, thus combining operational understanding with the wider company’s decision-making issues for increased business success.
Data presentation attractiveness through the usage of diagrams, tables, charts, and graphs.
Information from sources such as weather stations, aviation data providers, and satellites is updated in real-time and accumulated in centralized datasets.
Dragging & drop feature provides an easy drag-and-drop functionality that enables end-users to customize their reports.
Easy Linking of Power BI dashboards and other platforms for getting data.
End-user interactive roll-up/pivot functionality for data.
Gross profit margin: the percent of income left over after deducting the cost of products sold. It shows how well a business controls the expenses of production.
Net profit margin: the percent of revenue that is left over after all operational costs, taxes, and interest have been subtracted. It displays total profitability.
EBITDA: A company’s operating profit is shown by earnings before interest, taxes, depreciation, and amortization (EBITDA), which provides a fast overview of the company’s fundamental profitability before certain non-cash charges are taken into consideration.
Gross Profit Percentage: the percentage representation of the gross profit to total revenue. It shows how well a business makes money off of its sales.
Operating Income: Operating income is computed by deducting operating expenses from gross profit, and it represents the profit generated by the company’s core operations.
Profit-to-Sales Ratio: This ratio assesses how much profit is made in relation to the total amount of sales revenue and gives information about how well pricing and cost control methods are working.
Tax Liability Tracking: Monitors tax liabilities across different tax categories (e.g., income tax, sales tax) and jurisdictions.
Deductions and Credits: Tracks eligible deductions and tax credits to optimize tax planning and minimize tax exposure.
Filing Status: Provides visibility into tax filing deadlines and the status of tax returns for timely compliance.
Expense Ratios: Expense ratios are measurements that show how much goes toward a certain financial indicator, usually revenue. They aid in evaluating control and cost-effectiveness.
Cost Per Unit: An indicator of pricing strategies and production efficiency, it is the average cost incurred to create a single unit of a good or service.
Budget Deviations: Disparities between real and planned/budgetary quantities. They point out areas where spending goes over or under budget.
FY vs PY: A comparison of the financial performance of the current fiscal year with the same period in the previous year, denoted as FY (Fiscal Year) vs. PY (Previous Year), helps to spot trends and changes in performance over time.
Monthly Sales: The entire revenue made by a company from its products or services within a given month.
Sales by Region: The amount of money made in various regions, which offers information on how client demand is distributed geographically.
Sales by Product: The money made from specific products or product categories, which is useful in determining how well-liked and profitable various offerings are.
Sales Growth Rate: The revenue growth percentage as a percentage over a prior period, indicating the pace at which sales are expanding.
Conversion Rate: The proportion of prospective buyers who, out of all the leads or visitors to your website, complete a desired activity, such as placing a purchase.
Customer Acquisition Cost (CAC): Customer acquisition cost means the amount spent to acquire a new customer. It may include money spent on marketing, sales, and operational costs. This will help you a lot in designing your customer acquisition strategies.
Accounts Payable Aging: Tracks aging of accounts payable to manage vendor relationships and optimize payment schedules.
Accounts Receivable Aging: Monitors aging of accounts receivable to expedite collections and improve cash flow.
Cash Conversion Cycle: Analyzes the time it takes to convert inventory and receivables into cash, facilitating liquidity management.
Revenue Growth Rate: The revenue growth rate is a percentage increase in the total revenue over a specific period which indicates the increase or decrease in the sales.
Current Ratio: It is a financial metric calculated by dividing current assets by current liabilities, and serves as an indicator of your company’s short-term liquidity and ability to cover obligations.
Gross and Net Profit Margin: The percentage of revenue that remains after subtracting the cost of goods sold (COGS) is known as the gross margin, whereas the net margin takes into consideration both COGS and operational expenses. Both provide cost management insights.
Cash Flow: The net flow of capital into and out of your company over a specific time period, which demonstrates your company’s capacity to pay debt and make investments in expansion.
Working Capital: The gap between your company’s current assets and current liabilities, indicating money available for day-to-day operations and short-term financial stability.
Monthly Recurring Revenue (MRR): The consistent, regular revenue received on a monthly basis from subscription-based goods or services.
ARR: The total of all subscription revenues that a subscription- or membership-based business anticipates receiving from its clients each year is known as Annual Recurring Revenue or ARR.
Growth Trends by Revenue Stream: This study examines the evolution of various revenue streams, such as product or service lines, in order to pinpoint areas of success and regions in need of development.
Customer Lifetime Value (CLTV): The overall predicted value that a customer will bring to a firm over the course of their relationship, including purchases, referrals, and loyalty.
Asset Allocation: Visual representation of asset distribution (e.g., current assets, fixed assets, investments).
Liability Overview: Breakdown of liabilities including short-term and long-term obligations.
Equity Analysis: Displays shareholder equity and key ratios like debt-to-equity.
1. Define the goals and gather the data
Establish the objectives and purpose of your dashboard. Determine your target audience as well as the important metrics and insights you wish to share. Next, begin gathering pertinent information from multiple sources. Spreadsheets, databases, internet services, and other data repositories can all be examples of this.
2. Connect to the Data Sources
Click “Get Data” in Power BI Desktop to establish a connection to your data sources. Excel, SQL databases, SharePoint, Salesforce, and many more data connectors are supported by Power BI. To connect, choose the suitable connector and adhere to the instructions.
3. Transform and Clean Data
Your dashboard data can be cleaned, transformed, and shaped with the Power Query Editor. You can build calculated columns, apply filters,
split columns, merge tables, and delete superfluous columns. This stage guarantees that the format of your data is appropriate for analysis.
4. Create Data Models & Visualizations
In the Power BI data view, define relationships between tables to create your financial data models. Drag-and-drop is used to link related columns in this way. Accurately establishing these connections facilitates effective data visualization and analysis. Proceed to the report view and begin generating visualizations there. Numerous data visualization formats, including cards, tables, maps, and charts, are available in Power BI. Choose the right graphics to properly convey your facts. Axes, colors, and labels are just a few of the variables you can change to personalize the images.
5. Add Interactivity, Formatting and Themes
Slicers, filters, and drill-throughs are some of the capabilities that can improve the interactivity of your Power BI dashboard. These let each user investigate the information and find insights according to their own needs. Applying formatting options, such as fonts, colors, backdrops, and layouts, will help your dashboard look more appealing. To keep your reports looking the same, you may also use pre-made themes or make your own custom themes.
6. Publish and Share
When your dashboard becomes complete, publish it to Power BI. Your dashboard can be made public or shared with other members of your organization. Make sure you include important stakeholders who may utilize the dashboard to make decisions when sharing and do so with purpose.
7. Monitor & Maintain
Track your Power BI dashboard’s usage and performance over time. After getting input from your teams, make the necessary corrections and enhancements. Plan frequent data refreshes to ensure that insights are current.
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