Explain about Power BI KPI?

Every business needs some visuals to demonstrate the progress made by the business within a period. Power BI KPI (Key Performance Indicators) is the parameter that helps us to analyze data through power visualization. Besides, the Power BI KPI aims to help the user to evaluate the present status and value of the metrics in business. It clearly defines the figures using graphs and charts that help the users to get an idea about growth, changes, and the downfalls in data.

Moreover, these KPIs are the measurement points for tracking the values of the business. Power BI KPI helps to evaluate the key performance of the business unit in different areas with various measures.  It works on the basis of a specific measure.

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Key elements of Power BI KPI

There are different elements of Power BI KPI. Every KPI in Power BI is divided into different categories. Such as;

●      Base value

●      Target value

●      Threshold status

Base value: A base value consists of an average value of the sum of sales, gross profits, etc.

Target value: A target value is an absolute value that is set as a goal against the value targeted.

Threshold status: This status provides a range for the evaluation of base and target values. It presents the data ranges that fall between both the values.

Power BI KPI dashboard example

A Power BI KPI dashboard is an individual page that helps to visualize a story. The dashboard is a way to various reports and datasets that are underlying. The user can select the visualization that takes him to the report. A well-designed dashboard consists of all the requirements of the story or report. Moreover, it is useful to define any report visually in a clear manner. The report designers help to prepare different kinds of dashboards. The visuals that we can see on the dashboards are known as tiles and they are pinned to the dashboard by its designers. Besides, the Power BI KPI dashboard visualizations come from various reports and each of these is based on datasets.

The dashboards are a wonderful way to monitor the business and the changing metrics. It is important to view dashboards by the business people to understand the trends and reports easily. Moreover, dashboards are very useful as they combine on-premise & cloud data. It gives a consolidated view of reports irrespective of the data locations. Here, we look into an example of the Power BI KPI dashboard related to a sales report.

The above dashboard explains the graphs of sales and gross profits of various products. The Power BI consumers get the detailed dashboards from the designers of the dashboards. Moreover, the dashboard gives exact information on the trends within the organization's functional activities. These can be shared with different sections of the organization. Different types of charts and reports are pinned to the dashboards to view. Learn more from Power bi online course

Power BI KPI scorecard

In Power BI KPI there are many kinds of scorecards available based on the design made by designers. Besides, the scorecards provide visual communication that allows managers and executives to monitor performances. They can look after the teams and sections of the business that gives them an idea about working in the same direction. Moreover, the scorecards help to save time & effort of collecting, managing & reporting performance of information. It requires setting up a system of scorecards using Key Performance Indicators for different sections of the business unit.

The Power BI KPI scorecards help to reduce the time spent on measuring the KPIs. By automating the process of scorecards by connecting them with Power BI scorecards to an SQL database, helps to reduce the time for manual measuring of KPIs.

Moreover, using scorecards business people can save much time in hours that they spent every month on various activities. It helps to fetch data automatically that saves the employees from manually entering inputs. The following example will show how the scorecard looks like.

Power BI KPI Visualizations

Many KPI visuals come under Power BI Desktop. There are many visuals related to KPI that can be downloaded from the marketplaces. The user can select the list visuals from the KPI dialog box within the Power BI KPI Visuals. These are Bullet charts, Power KPI, and Dual KPI, KPI indicator, etc.

Bullet Chart: This bullet chart presents a value and evaluates this value against a target. Moreover, it helps to evaluate various performances by markings like a poor, improvement, need, good, satisfactory, etc.

Dual KPI: A dual KPI shows the two different KPI visuals next to each other. These KPI visuals are the most dynamic & can change values. These are much informative and don’t acquire much space. Moreover, it uses small icons and labels to mark the details of the value.

KPI indicator: This indicator shows the status of the values through various colourful backgrounds. It mentions the base value and shows the difference between the base and target in percentage. Furthermore, it uses a line or bar chart for presenting the values.

Power KPI: A Power KPI is defined as a multi-line chart that presents all the base values by way of lines of different colours. Here, the target values are individually highlighted using a different colour. Moreover, in this chart both text and graphic visuals.

Benefits of using Power BI

There are many benefits to using Power BI. It's a report authoring tool that helps business enterprises to visualize and analyze the business data in different ways. This data helps to transform business operations dynamically.

Usage of Power BI is a smart solution for presenting complex data visuals in a better and easy way. Moreover, it is a cloud-based tool that doesn’t require any kind of special expenditure to install and use. It helps to integrate easily with other existing applications. It provides rich graphic and text-based dashboards and scorecards for better visualization. Besides, it shows various public reports securely and stores them for future use. It helps to set up automatic data refresh and publish report facilities. This tool helps to extract business data rapidly and securely. Moreover, it balances data simplicity and performance. The tool is free from different software constraints that often lie with legacy software. The user of Power BI doesn’t need special training to use it.

It doesn’t require any kind of technical support in its performance. The tool offers an agile analysis of various reports. Besides, it supports the natural language interface. Moreover, it uses powerful and dynamic graphical designer tools that help users very much.

Thus, the above article helps us to understand the various uses of Power BI KPI and the benefits of using Power BI. The KPI or Key Performance Indicators help to understand the business values and motives in a visual. These visuals have different constraints to present values. It focuses on changing trends and presents the current values of business performance. KPIs are the providers of graphical and textual visuals of data within any business unit.

To get more knowledge of Power BI KPI and its usage in the practical way one can opt for Power bi online training Hyderabad from various platforms. Getting this knowledge from industry experts like IT Guru may help to visualize the future graphically. It will enhance skills and pave the way for a great future.