How Microsoft Power BI will help Indian MSMEs in business decisions for growth, revenue and operation?
Mihir Kumar Jhaveri, PMP
Chief Revenue Officer - "3x growth in 2 year" | CEO Office @ Ace Infoway Pvt Ltd (AQe Digital): Results-Driven Business Leader | Revenue Generation | Organization Development | Certified OKR Coach | Views are Personal
Microsoft Power BI is a business analytics tool that can help Indian MSMEs (Micro, Small, and Medium Enterprises) make informed business decisions by providing them with data-driven insights and visualizations. With Power BI, MSMEs can track and analyze various aspects of their business, such as sales, revenue growth, supply chain, procurement, quality, GST filing, MIS reporting, shopfloor operations, team performance, reviews, compliance, and cost control.
Here are some specific ways that Power BI can help Indian MSMEs in these areas:
·???????Sales: Power BI can help MSMEs track and analyze their sales data, such as sales volume, sales by product or customer, and sales trends over time. This can help them identify opportunities for growth and make informed decisions about sales strategies.
·???????Revenue growth: Power BI can help MSMEs track and analyze their revenue data, such as revenue by product or customer, and revenue trends over time. This can help them identify opportunities for growth and make informed decisions about pricing and other revenue-generating strategies.
·???????Supply chain: Power BI can help MSMEs track and analyze their supply chain data, such as inventory levels, lead times, and supplier performance. This can help them optimize their supply chain and make informed decisions about sourcing and procurement.
·???????Procurement: Power BI can help MSMEs track and analyze their procurement data, such as spending by supplier or category, and supplier performance. This can help them optimize their procurement processes and make informed decisions about supplier selection and management.
·???????Quality: Power BI can help MSMEs track and analyze their quality data, such as defect rates, rework rates, and customer satisfaction. This can help them identify and address quality issues, and make informed decisions about quality improvement efforts.
·???????GST filing: Power BI can help MSMEs track and analyze their GST data, such as GST returns, GST liability, and GST credits. This can help them ensure compliance with GST requirements and make informed decisions about GST strategies.
·???????MIS reporting: Power BI can help MSMEs create dashboards and reports to track and analyze key performance indicators (KPIs) and other data relevant to their business. This can help them monitor their operations, identify areas for improvement, and create reports for internal or external stakeholders.
·???????Shopfloor: Power BI can help MSMEs track and analyze shopfloor data, such as production rates, efficiency, and downtime. This can help them optimize their shopfloor operations and make informed decisions about production planning and management.
·???????Team monitoring: Power BI can help MSMEs track and analyze team data, such as attendance, productivity, and performance. This can help them monitor team performance and identify areas for improvement.
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·???????Team collaboration: Power BI can help MSMEs share dashboards and reports with their team, allowing team members to collaborate and work together more effectively.
·???????Reviews: Power BI can help MSMEs track and analyze data relevant to their reviews, such as customer feedback, employee performance, and business performance. This can help them identify areas for improvement and make informed decisions about their review processes.
·???????Compliance: Power BI can help MSMEs track and analyze data relevant to their compliance with laws, regulations, and industry standards. This can help them ensure compliance and make informed decisions about their compliance strategies.
·???????Cost control: Power BI can help MSMEs track and analyze their cost data, such as spending by category or supplier, and identify opportunities for cost savings. This can help them control their costs and make informed decisions about their budgeting and cost management strategies.
Overall, Power BI can help Indian MSMEs looking to gain insights into their data and make informed decisions to support their growth, increase revenue, manage their supply chain and procurement processes, ensure quality, file GST returns, monitor and manage their team, collaborate with team members, conduct reviews, ensure compliance, create reports, and control costs.