Want to know on which day of the month a particular item sells best? Curious about why revenue is increasing in one territory but not in others? You probably have the data, but analyzing data to answer the big “why” questions isn’t always possible for small and midsized businesses with limited resources.
Fortunately, Power BI has changed the equation. By connecting Power BI with your Microsoft Dynamics GP, you can get answers to complicated questions about your financial data as easily as clicking a button.
Think of Power BI as a way to not just see your data but to actually interact with it. Microsoft’s Power BI is a self-service suite of business analytics tools that can help almost anyone in your business analyze data and share their insights. For Microsoft Dynamics GP users, that means monitoring financial performance, sales trends, CAPEX costs, expenses, profitability and more.
How Power BI and Dynamics GP Work Together
To start analyzing your financial data, you simply enter a query in Power BI. That query can then be analyzed by a Power BI component called Quick Insights. Power BI works by returning data gathered from one of the
Quick Insights supports a range of analysis types. You can look at Major Factors, which finds cases where a majority of a total value can be connected or attributed to a single factor. Other options include Category Outliers, Time Series Outliers, Overall Trends in Time Series, Seasonality in Time Series, or Correlation. You can also explore Steady Share, which focuses on cases where there is a continuous parent-child correlation between data sets.
Getting Started with Power BI and Dynamics GP
In order to leverage Power BI with your Microsoft Dynamics GP, you will need an Office 365 account. However, since Power BI is a cloud-based tool, you won’t have to worry about adding servers or IT overhead. Plus, Power BI works across various devices and platforms, so you can access it in the office or on the go. You can also share your analytics with other members of your team.
If you’re using Microsoft Dynamics GP 2016, you’ll also have the benefit of Power BI visuals on your home page.
Want to learn more about connecting your Microsoft Dynamics GP with Power BI?