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Sunday, May 8, 2022

Magento Sales Profit Increase In Power BI Application

With our fast moving technological progress and globalization, the value of applying business intelligence systems cannot be overestimated.

As for a  business owner, updating your knowledge on modern approaches to data analysis is a must. So, if you want your profit to increase in a geometrical progression, read further.


Today, with the help of business intelligence tools, programmers can create interactive dashboards, develop custom reporting solutions, and provide services like extensions for Magento with Power BI integration with a user-friendly interface for your online store. 


Taking into account the growing need of data analysis, the BI market is condemned to successful growth.  With time, Power BI software for Magento, as well as other popular  business intelligence tools and applications have become a powerful necessity to run every business profitably.


Taking all these into account, in this post BIM developers will reveal the most shady but true secrets for their customers.

Magento Power BI Integration Benefits

If our  Magento Power BI Extension is connected to your Magento store sales platform, reporting updates in Power BI analytics will appear almost  immediately after any data part(s) changes. 

Discover Sensitive Sales Data

Self-service business intelligence environments enable business users to query BI data, create data visualizations and design dashboards on their own. But sometimes developers may put certain restrictions on some features. 


The most common restrictions for receiving immediate visual data updates are put on:

  • the number of  times for one report to be updated;

  • the quantity of updates set  for  a certain period of (in other words, the frequency with what a user is requesting an update to be performed and became visible to other Google users;

  • manual inputs and corrections.


Rather than other BI analytical software,  our application has little to no restrictions.

For example, these Magento Sales Reports enable advanced visualization. For more effective perception, advanced visualization features allow you to present data using interactive, colorful pictures and charts instead of boring black and white tables. 

Moreover, here you can manually transform graphics and diagrams, enter digits and set metrics, change colors of diagrams and tables, use scaling, combine and compile datasets, and even more.

So, to perform fast and raise your profit constantly, use  BIM services!

4 Power BI Samples for Profit Boost Today

It is a common sense knowledge that every analytics is transformable and can be approached from different angles. To put it simply, there may exist up to 5 ways for getting the final valuable analysis results. 

Applying Workflow time Analysis in Magento BI Analytics

Using Workflow time analysis this sample you can see the ways of cost reduction on your routine processes, thus putting more money in a loyalty program, for example. An examination of the most common fields of money waste in e-commerce business will help you learn how to cut down all of them immediately.


Recommendations:

  • reduce the expenditures by turning off and unsubscribing from all unnecessary tools and services; 

  • If you are running an offline store too, try to get the most from your investment or rental agreement. 

If the magento reporting analysis showed that your premises are making a vast portion of expenses, consider whether you're squeezing out all the juice from the property you have by asking yourself questions like:

  • Can I use the room I have more effectively by rearranging it?

  • Can I negotiate a lower rental? For example, ask your landlord if you agree to a longer contract may rental costs be reduced? 

Top Products Research in Magento BI Tools

In Top Products Research you find the statistics of most-ordered products. Are you getting the most luxury deals from your suppliers? Be sure to offer trendy items only! 


Recommendations:

  • get rid of those items which were never bought for the three months’ duration period or obviously are outdated. 

  • remove products with no software support, out-of-stock items, and replicas. 

By the way, it would be a great idea to refresh your store with stylish contemporary devices that are becoming popular amongst the rich.

Sales by Location for Magento Users

Sales by Location - find here your most promising areas of influence. Remember, the statistical data in Magento 2 business intelligence extension refreshes automatically, so you can fully rely on this data for making informed decisions. 


Recommendations:

  • for locations with average but promising buying KPIs develop the profitable PPC campaign and reach more customers from paid Google advertising

  • offer free shipment and other valuable perks for your clients to promote loyalty and retention.

Year to Year Comparison for Better Forecasting

There is no reason to convince yourself that your business is flourishing by having no results at hand. To see how the profit is growing use a comparison year to year analysis. Setting long and short term goals based on the research and actual data is an easy process. 


Recommendations:

  • try to predict the popularity of the products;

  • be one step forward by brining WOW effect for your customers;

  • make a hype of the most higher rating item of your store. 

Now you know everything about your future strategies. What will be the most lucrative strategy in 2022?  for your business to evolve and stay on the top of the e-commerce market, here we are. 


With the power of BI tools, a smart leader will find thouthands of ways for reaching the target result. 


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