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Power BI in Ecommerce – Top 11 Companies Shaping Analytics

The Ecommerce sector can vastly benefit from using business data to derive actionable insights and make data-driven decisions through real-time dashboards. Here, we’ll discuss the top 11 Power BI companies in the Ecommerce industry and their services.  Ecommerce is among the fastest-growing industries in the global market. With millions of people buying products online, there is high demand and supply for a plethora of goods. Be it medicines, apparel, electronics, or groceries, numerous products can be purchased online directly from the manufacturer, distributor, or online retailer.  Statistics show that 2.77 billion people are estimated to shop digitally. This represents 33% of the global population. With over 28 million Ecommerce stores in the market, there is high competition between businesses to capture more customers and retain them. In such instances, data analytics and business intelligence help businesses get a clear understanding of the market trends, sales, customer behavior, competitors, etc. By implementing platforms like Microsoft Power BI, Ecommerce businesses can make quick and effective data-driven decisions to stay ahead of competitors and achieve their targets.  In this blog, we’ll read more about the role of Power BI in Ecommerce and the top eleven companies that offer the required services to benefit from the platform’s solutions. How is Power BI Used in Ecommerce? Power BI is a business intelligence and data visualization platform developed by Microsoft. It can be integrated with diverse data sources to collect business data and analyze it to provide in-depth insights and reports through the dashboards. Employees from different departments use the insights and visualization reports for real-time decision-making. By using Power BI in Ecommerce, a business of any size can streamline its operations and enhance customer experience.  While businesses can implement Power BI on their own, partnering with a service provider will ensure accurate and seamless results. Moreover, the company offers long-term support and maintenance services to troubleshoot and upgrade the platform whenever necessary.  Here are a few ways to use Power BI services to boost Ecommerce business.  Customer Segmentation  Customers are vital in Ecommerce. How a business reaches out to its target audiences, how it promotes the products, customer behavior, purchase patterns, demographics, etc., determines its success. With Power BI, the business can analyze customer data to derive in-depth insights. Based on these, the business can sort and filter customers into different segments and send customized target promotions accordingly.   Inventory Management  How many products should the business stock? Which item is in more demand? When will customers buy a certain product more? Power BI can be used to derive such insights. This helps maintain inventory levels and handle fluctuating demands without worrying about low stock. Similarly, the business can avoid overstocking a product.  Supply Chain Management  After inventory, supply chain management and logistics are other crucial aspects of an Ecommerce business. With help from Power BI companies, businesses can streamline all parts of the supply chain, reduce risk, and make alternate arrangements in advance to prevent delays and disruptions.  Sales and Revenue Analysis  The sales data gives plenty of insights into Ecommerce businesses. It can be used to measure progress, identify weak areas, understand growth opportunities, etc., for different products, regions, durations, and so on. With real-time Power BI dashboards, the sales team can get instant inputs and take corrective steps before it is too late. This also enhances customer experience.  Marketing and Promotions  Power BI can also be used to analyze data from websites, ads, social media platforms, and marketing campaigns to provide a clear picture through the dashboard. With this information at their fingertips, Ecommerce businesses can track metrics like click-through rates, conversion rates, acquisition costs, and many more to increase ROI from marketing.  Predictive Analytics  Predictive analytics are a type of advanced analytics that process historical data to predict future trends for the business. By using Power BI to forecast sales and understand market fluctuations, the Ecommerce business can be ready to tackle seasonal fluctuations and changes in customer behavior.  Real-Time Reporting  Ecommerce analytics through Power BI dashboards can be used for real-time reporting. Employees can send a query and get an instant outcome to make a decision or complete the task. Whenever businesses have to make quick decisions, they can use real-time reporting and stay at the top of the game instead of relying on outdated and old reports. Power BI in Ecommerce – Top 11 Industry Players DataToBiz DataToBiz is an end-to-end AI company offering tailored services to implement solutions for Power BI in Ecommerce. As a certified Microsoft Gold Partner and Microsoft Power BI Showcase Partner, the company has the required expertise and experience to build, deploy, integrate, and customize Power BI dashboards as per clients’ requirements. It works with startups, SMBs, MSMEs, and large enterprises from across the globe. The company has in-depth knowledge of various industry standards and knows how to help businesses align their process with their mission and achieve the desired goals. As one of the leading business intelligence companies, DataToBiz has worked on several data visualization Power BI projects. The professionals build custom dashboards and provide the necessary support to ensure seamless integration with third-party tools. Ecommerce businesses can use real-time visualization reports to track their sales, marketing campaigns, customer experience, targets, etc., and make data-driven decisions.  ScienceSoft  ScienceSoft is a global IT consulting and software development company offering retail analytics solutions through Power BI dashboards. The company’s services are customized to meet the varied requirements of clients and help them implement advanced solutions with ease. It assists retail and Ecommerce businesses in converting raw data into valuable insights to make real-time decisions and capture more audiences. The company also works with businesses from several sectors by offering industry-specific services. It has been a Microsoft Solutions Partner for years and has ISO 9001 and ISO 27001 certifications to ensure quality solutions. The company has won The Americas’ Fastest-Growing Companies by the Financial Times thrice in a row. ScienceSoft has experienced Power BI developers who create diverse dashboards for KPIs and set up the

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How to Make Your BI Dashboard Actionable – 8 Insider Tips

BI helps examine large datasets to understand trends, patterns, and correlations. It is useful in deriving accurate insights for various requirements. Here, we’ll discuss the top tips for creating tailored, actionable BI dashboards for data-driven decision-making.  Business intelligence (BI) is a set of tools, technologies, and processes used to collect, clean, and convert raw data into actionable insights. The insights are used to develop business strategies, streamline operations, optimize resources, enhance customer service, and increase profits. The analytics derived by BI help a business unlock its full potential and gain a competitive edge in the global market.  Statistics show that the BI market is estimated to increase by $18.56 billion at a CAGR (compound annual growth rate) of 10.7% between 2024 and 2029. It can be used in any industry and by a business of any size or volume. BI tools like Power BI can be hosted on-premises and on cloud platforms. They can be integrated with data sources, repositories like data warehouses and data lakes, and other third-party software. The dashboards that provide data visualization reports are the core of the Power BI adoption process.  These dashboards enable users (employees, management, stakeholders, etc.) to access data in real-time, derive insights, generate reports, and collaborate with others from the same interface. However, for this to happen seamlessly across the enterprise, the dashboards have to be actionable and optimized.  In this blog, we’ll share insider tips to make your Business Intelligence dashboards actionable and achieve the expected results from your Power BI journey.  What Makes a BI Dashboard Actionable? Actionable BI dashboards are user-centric and provide clear insights relevant to each user/ employee’s job. Business intelligence dashboards can be built using tools like Microsoft Power BI, Tableau, etc. Power BI is among the top three dashboards used by organizations from different industries and regions. It can be personalized to create interactive dashboards that generate meaningful reports for employees in just a few clicks. While many enterprises use business intelligence, not everyone achieves the desired results. That’s because the dashboards have to be optimized to deliver actionable insights, preferably, in real-time.  So what makes a dashboard actionable and efficient?  It is an improved BI dashboard that focuses on finding solutions to the following questions:    In short, an actionable dashboard is fully aligned with the business vision and objectives while providing customized and interactive solutions to employees who use it for daily activities. Integrating the dashboard directly into the workflow also makes it actionable, though the delivered insights have to be useful, meaningful, up-to-date, and accurate for employees to make data-driven decisions.  Though the initial setup is a one-time process, BI dashboard best practices have to be monitored continuously to ensure the process is in sync with your organizational requirements. That’s why most businesses partner with Power BI service providers for integration and maintenance services.  Insider Tips to Make BI Dashboards Actionable  A well-designed dashboard is useful in tracking business intelligence KPIs, generating data visualizations, and sharing the latest insights with team members, stakeholders, and others. However, creating this dashboard requires technical expertise, planning, and a clear understanding of what your business wants.  Clear Purpose and Objectives Be clear about the purpose of creating BI dashboards. Also, understand the difference between a dashboard and a report. A business intelligence dashboard provides a real-time view of critical metrics and KPIs. It allows you to interact with the interface by adjusting the filters or changing the visuals as required. This enables quick and real-time decision-making. A BI report is a document with in-depth analysis of a given situation that often uses historical context and helps identify trends, patterns, etc. It is generated as per a pre-determined schedule or whenever necessary and used for auditing, compliance, and more.  Start by defining the exact purpose of building actionable BI dashboards. What do you want to track, monitor, or measure? What are the benchmarks against which you will measure your performance? What do you intend to achieve and by when? What are your goals and objectives for the short-term and long-term?  Best Practices:  Keep it Simple Power BI dashboard reports and interfaces should not be cluttered or filled with countless visuals. Packing too much information is easy, but it can be overwhelming for users and counterproductive when they have to make data-driven decisions. Cluttered dashboards make it hard to collaborate and communicate with others, as they can increase confusion or misunderstandings. At the same time, a simple dashboard doesn’t have to be static, boring, or unappealing. Achieve the right balance between simplicity and efficiency.  Best Practices: Understand BI Dashboards Dashboard insights can be actionable when you understand what the interface can deliver and how the insights can be used. For example, strategic dashboards are used by C-level executives, analytical dashboards by most employees in the enterprise, tactical dashboards by mid-level managers, and operational dashboards by department heads or team leaders for highly specific data. Each of them serves a different purpose aligned with what the user wants.  Best Practices: Choose the Best Visualizations  Data visualizations come in various types. There are several varieties of charts, graphs, diagrams, maps, etc., like line charts, pie charts, bar graphs, tree graphs, heat maps, and many more. However, not every visual is suitable for every type of data or insight. Similarly, a single type of visualization cannot be used for every purpose or requirement. For example, a pie chart shows the % ratios between different elements, while a line chart can be used to compare the progress of the elements across a timeline or a measurement. The idea behind using visualization instead of text is to present more information in a simpler format.  Best Practices: Web-Based Data Sharing  In today’s world, data and insights should be accessible at the fingertips, no matter where your employees are. No doubt, Power BI Desktop is useful when working on-premises. However, the web version can be used on most devices and from any location as long as there’s an internet connection. Power BI Mobile works

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