How To Use Power BI To Increase Profits

The challenge for most businesses today is no longer capturing data but whether you can use the information you already have which is why the world's biggest companies are figuring out how to use Power BI to increase profits. Business Intelligence (BI) is the pathway for using Big Data to drive action. BI tools make it possible for teams to explore and manage data quickly to make faster decisions, with a big-picture view of operations.

One of its most significant advantages is that BI software allows even non-IT professionals to see data in real-time, freeing their reliance on IT teams. Anyone in the organization can be trained as data citizens to create their own reports, dashboards, and graphs quickly to better understand the meaning of your data without using a database or knowing how to create complex formulas.

Let’s look at how three companies are using Power BI to drive results:

1. Data Scores the Touchdown: How BI Creates a Better Experience for Seattle Seahawks Fans

Using Tableau, the Seattle Seahawks were able to create a stadium suite visualizer and quickly solve one of the consistent complaints in their fan surveys. For years, fans complained that they had difficulty hearing in some of the stadium seats during the games, but the Seahawks could not pinpoint which seats. “Our fans were providing us this great data that we could do something with, but we didn't have that culture or the tools before Tableau,” explains Paimon Jaberi, Director of Business Strategy and Analytics, Seattle Seahawks.

Using a Tableau Heat Map, four stadium corners lit up in red, instantly identifying the problem locations. Speakers were adjusted, showing how data can be put into action to create a better experience for their fans.

2. When Disaster Strikes: BI Tools Help Government Agencies and First Responders

Hexagon is a company that helps government agencies proactively respond to disasters, assisting first responders and preparing schools and hospitals before catastrophe strikes. As Hexagon gathers large amounts of data, their agencies needed a way to quickly extract this raw data into a visual format so that they can respond rapidly with a plan of action.

Understanding this need, Hexagon uses Microsoft's Power BI to gather real-time data and help first responders create customized reports and dashboards. This evidence-based insight allows agencies and first responders to allocate resources and improve operations quickly. “By creating a single source of truth to explore, analyze, and share, HxGN On-Call Analytics empowers users agency-wide to solve complex problems and drive smarter decision making."

3. The Official Bourbon of the Kentucky Derby

In Louisville, the weather in May can be unpredictable. Snow, rain, and extreme heat have all appeared at the annual Kentucky Derby. To determine how the weather, social events, and other factors impact bourbon sales, Brown-Forman, one of the largest American-owned spirits and wine companies, sells brands like Jack Daniel’s, Old Forester, and Woodford Reserve.

Brown-Forman offers a $1,000 Woodford Reserve mint julep, which includes access to a unique experience, a historical display from the Kentucky Derby Museum, a collectible Mint Julep Royal Cup, and a branded bar at Churchill Downs. Proceeds from the sale benefit the Permanently Disabled Jockeys Fund.

To find out how weather and other societal factors impact sales, Tableau insights reveal details about who’s visiting the website, watching the $1000 mint julep video, and how the weather affects their promotion. “Our whole goal is to promote and then ship more product following these promotions. Tableau is helping us reach that goal." Tim Nall, CEO, Brown-Forman.

How Power BI Can Help Your Business

When users have visibility into their data, they can answer crucial questions. Access to data allows for fast decision-making and an edge over the competition. BI makes it easier for your teams to explore and manage data and quickly discover and share insights to drive business results.

Business intelligence provides your company with the tools to support:

• Unified data from many sources
• A greater understanding of the past, present, and future business trends
• Deep analysis, uncovering hidden relationships and patterns
• Answers in informative and compelling data visualizations -- reports, maps, charts, and graphs.

What are you doing with all that data? Get your team trained with the power of BI today>>>