How E-retailers Stay On Top Of The Game Using Power BI Predictive Modelling

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Welcome To Loginworks Softwares
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How E-retailers Stay On Top Of The Game Using
Power BI Predictive Modelling

• Power BI is revolutionising the e-retail sector,
  enabling highly sophisticated data analysis to be
  embedded across all aspects of business decision
  making. Once the preserve of IT departments and
  information analytics teams, platforms such as
  Power BI Consultant are changing the way
  businesses access, use and interact with the big
  data that is collected with every transaction,
  both through the supply chain and every purchase
  made by a customer.

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The accessibility and ease of use of Power BI
means that once the system is set up and ready to
use, and the data entered, that everyone in the
organization can be a data analyst, and this
empowers teams to make better decisions more
quickly and with the ability to test and model
different ideas. The strategic advantage that
firms achieve through the adoption of business
intelligence platforms is phenomenal.

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Power BI from Microsoft is one of the best tools
for the job (which is why we use it at Loginworks
Softwares!), enabling users to create and
visualize complex datasets, to share reports, to
integrate work across different teams and
departments and to test out different types of
analysis. Not only is it significantly beneficial
for firms to be able to carry out this level of
analysis, but it also ensures that all that data
is put to good use helping the business to
achieve its objectives. The visualization of data
is one of the greatest strengths of business
intelligence platforms for e-retailers because
these visuals help to convert multiple layers of
complex data into simple to understand graphs and
charts. Critical questions can be asked, and the
answer provided quickly and in a format which
everyone in the business can understand.
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To stay ahead of the game it is important for
e-retailers to keep up with future trends and
this will become easier as Power BI develops
something the team at Microsoft appear committed
to with regular updates and releases available
online every few weeks. Over the next few months,
we expect to see a number of additional services
offered through Power BI Experts and it is
essential that users of the platform keep up with
these new tools for data analysis. One of the
great advantages of Power BI is the ability it
offers for e-retailers to bring data together
from a wide range of different platforms. Sales
data, product databases and supplier databases
may be managed on separate systems, but the data
can be brought together on a single platform. It
can also be combined with more qualitative data
from social analytics tools giving an added
dimension to the factors that can influence the
decisions made within a business using a wide
range of fairly unstructured information.
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Power Bi With Data Analytics Reports

• We have already seen a shift to a self-service
  model for users of Power BI Services with access
  to the system being provided to everyone in the
  business, and training offered to ensure that
  users maximize the value of data within their
  teams. Because Power BI connects to other
  business platforms, including Microsoft Dynamics,
  Salesforce and Quickbooks, firms are now able to
  integrate effective data analysis as a part of
  everyday business. This means that e-retailers
  can continually re-evaluate business performance
  and make appropriate adjustments. Additional
  tools also enable users to ask more questions of
  the data, to look at different levels of data
  within the hierarchy of information and to drill
  down to minute detail it is hard to conceive of
  a problem in a business where well-organized
  datasets are unable to provide an answer.

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As Power BI is also connected to real-time data
collection, reports that are produced are
available in real-time no more waiting for a
report from a different department or having to
take into consideration what has changed since
the last report was produced. Every decision in a
business can be based on the things that are
happening at that moment in time. Imagine how
such powerful information helps e-retailers to be
more agile, to stay ahead of their competitors
and to respond quickly to changing consumer
behaviours!
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Combined with the increasing versatility and
flexibility of Power BI Consulting Services on
mobile devices, and business presentations come
to life with the most up to date information
available. Business pitches and supply chain
meetings are informed by live data which can be
presented during meetings and data changed and
manipulated to assess a vast range of parameters.
These might include the most popular products by
store, the most competitive price for products in
different states, the sales volumes of competitor
products and much more. Power BI offers really
powerful tools for accessing and modifying data
using apps designed specifically for Windows, iOS
and Android.

E-retailers benefit hugely from all this data as
they translate the vast amount of information
into day-to-day decisions around sales and
revenue targets, sales funnel monitoring, budget
estimation, supply chain decisions, customer
opinion and consumer behaviour, different trends
in different locations and information about
individual consumers shopping habits. E-retail
is better placed than most sectors to take
advantage of Power BI simply because of the
volume of data that the business invariably
collects with every transaction.
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