Smart BI: use sales data to make better decisions
In the previous post dedicated to Customer and Supplier Aging, we saw how Power BI offers a valuable tool for tracking and analyzing the credits that customers owe to the company (customer aging) and the debts that the company has to suppliers.
But credits and debts are not the only areas where Power BI can help you analyze company data and, consequently, make more efficient decisions.
In today's post, we will see how Power BI can also make a difference in the analysis of sales data.
Sales reports represent an essential component in the analysis and management of business performance. They provide a clear window into the company's sales performance, allowing you to compare data from previous periods and select specific periods of interest. But what are the main reasons why these reports are so crucial?
Global Sales Analysis
Sales reports allow you to have an overview of the company's performance in terms of sales. Examples of analysis include sales trends by amount and geographic area. For example, if a company notices a decline in sales in a specific region compared to the previous quarter, this could suggest the need for a targeted marketing strategy in that area or a review of pricing policies to improve competitiveness.
Analysis of Orders by Product/Customer
Analysis of sales reports helps identify which products or customers are contributing significantly or, conversely, slowing down sales. For example, it may emerge that a certain product has consistently increased sales in recent months. This can guide the company in allocating resources to fully exploit the opportunity.
Revenue Analysis by Product/Customer
In addition to orders, sales reports allow you to examine the actual revenue generated by specific products or customers. This type of analysis can reveal which customers generate significant revenue for the company and which products are the most profitable. This can be useful for planning targeted marketing strategies or optimizing the allocation of production resources.
Margin Analysis by Product/Customer
Another crucial aspect is the analysis of profit margins. Knowing which product or customer generates the highest margins can help the company focus on market segments that offer the highest return. For example, if a particular product has a very high margin, the company may decide to further promote it or develop similar products.
The Importance of Filters
In addition to basic analysis, sales reports offer the ability to apply filters to further refine the analysis. A company using Microsoft Dynamics 365 Business Central and that has set up analysis dimensions, such as cost center, can examine sales in relation to these specific dimensions. This can be useful for understanding which areas or business divisions are contributing most to sales or if there are areas where improvements are needed.
The capabilities of Power BI do not end here. In the next post, we will focus on the analysis of purchase data.
So Smart is the online management software that helps you automate processes, monitor real-time data, produce analytical reports, and control compliance. So Smart is the cloud solution accessible from any browser, but you can also access it from your computer, smartphone, or tablet by installing the dedicated app, to monitor and plan your activities at any time. So Smart offers Power BI to analyze sales and purchases trends, inventory, credits, and all the indicators that allow you to make informed decisions.