In this example, we’re going to dive into inventory management data. I’m adding a bit more variety into some of the Power BI development that I showcase here, and this is quite a unique insight around managing your inventory.
All data has it’s nuances so learning a variety of techniques will place any analyst in a great position for the differing data that might get put in front of you.
By going through this inventory management example, I’m hoping to expand your mind around how you can utilize Power BI. The unique analysis comes from where we need to compare our current stock levels to the sales we are actually seeing in real-time at our stores.
What we need to do is compare historical sales to what we currently have in stock, because that’s how you need to manage your inventory (if you think deeply about it for a moment). By understanding this, you can make sure that you keep up with demand or that you have the supply to facilitate any particular strategic promotion or sales event that you’re initiating inside of a business.
I show you how to build your data model, how to implement the correct DAX calculations and then also how to showcase this in a visual way that makes sense and highlights the insight well to your consumers.
Combining all of these techniques around various aspects of Power BI is where you really need to get to in order to extract really good insights.
All of these techniques in isolation don’t do anywhere near as much as when you combine the data model, with DAX calculations and really high quality visualizations.
This is where the real power is in utilizing Power BI as an analytical tool.
All the best with working out how you can fit these types of techniques into your own data sets.
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