There is no question why analyze sales data. Each business owner clearly understands that this is the best way to evaluate the performance of your sales team and operation processes against the main goals. By analyzing sales data you can get a bunch of useful insights about the top-performing and underperforming products/services, the problems in logistics and communication, market opportunities, promos, and other sales activities that generate higher revenue, etc. No need to explain that all this information helps companies to optimize their operations and stock, improve communication with customers, or forecast sales, just to name a few.
When the business is big, e.g. a retailer with millions of items and several sales locations, the amounts of data are tremendous, and making all the assessments and calculations by hand may be a nightmare. And here Microsoft Power BI
comes into play. This power solution makes it easy to connect to multiple data sources, visualize important aspects with rich dashboards, prepare complex reports, and share the results with anyone interested. It allows not only generating insights from an Excel workbook or local database but also performing large-scale real-time modeling and developing customized solutions.Shopify
, in its turn, is one of the most popular sales platforms where at least 10% of e-commerce businesses host their online stores including the likes of Nestle, Budweiser, and Red Bull. The number of Shopify stores increased by 48% in the third quarter of 2022
, compared to the same period in the previous year. This demonstrates the continued popularity and growth of Shopify as a platform for businesses of all sizes.
Shopify has an easy interface and multitude of features and allows not only selling goods but also planning stock and marketing. This means the platform is a wellspring of useful insights by itself. However, its inbuilt reporting features are limited and do not allow consolidating the data from multiple sources. That’s why you will definitely want to connect Shopify to Power BI to make a thorough data analysis.