Have you ever considered how you could make greater use of consumer analysis? Microsoft has been providing its customers with Dynamics 365 since 2016, a cloud-based software platform with countless features to meet their demands. Dynamics 365 offers a variety of apps that can be combined to help every business grow and achieve a competitive edge. These apps cover a range of topics from finance to sales, marketing, supply chain management, project management, and much more. Although there are numerous subjects to cover in relation to Dynamics 365 and all of its features, today we’re going to concentrate on Customer Insights and the capability to create reports using Power BI based on its data. Therefore, without further ado, let’s begin by defining Customer Insights:
1.A Complete View Of Your Customer.
Customer Insights (CI), as the name suggests, helps you strengthen your customer analysis. The more you understand about your consumers, the more competitive you may be because you will be able to provide them solutions that are better suited to their wants and needs.
With it, you can collect all of your consumer data and then combine it using techniques from machine learning (ML) and artificial intelligence (AI). This app’s goal is to enable you to create a unique profile from all the customer data gathered by various company departments, preventing information silos and duplication. This gives all of your employees that work with customers across departments the power to personalize their experiences with them, improve customer engagement, and boost the chance to cross-sell or up-sell products, so maximizing their lifetime value.
With Customer Insights, you can consolidate, unite, and do away with data silos because it is incredibly adaptable and can import data from practically any source. Additionally, you may create customer profiles with Customer Insights to track every step of the client experience.
2.Why Is It Important To Have Consumer Insights?
- You absolutely must try using Customer Insights for a variety of reasons.
- Firstly of all, it’s really straightforward and simple to use, enabling you to rapidly begin posing queries regarding the data you gather.
- Secondly, you can categorize your clients based on behavioral, transactional, or demographic factors. With the help of these segments, you may customize the targets for advertisements, sales events, and any other kind of action that makes use of segmentation. In addition, the segments can be exported as data sets and used in other programs.
- Thirdly, being able to recognize customer trends and predict changes in the industry enables you to outsmart your competitors and decide how to provide your customers with the best possible service.
- Fourthly, customer insights can help you define or enhance your products and services by providing market information. By combining resources, you may anticipate market demands and respond to your consumers’ shifting needs. Your business can achieve more organization and efficiency with this kind of adaptability.
- Finally—and maybe most importantly—user Insights enables you to compile user reviews of any of your goods and compare them to Power BI product data, as we’ll see in the section that follows. This is important because you can immediately assess how your customer base feels about your goods and how they would want you to improve them. Even if you can’t please everyone, you can come close. The best method to learn what your customers want is to listen because when a customer feels heard, he stays with you.
3.Make Use Of Power Bi For Analytics.
As is well known, Power BI is a solution that allows a large number of data sources to connect with one another in order to fill big dashboards with knowledge from many departments that have been particularly prepared with the right information for decision-making. These sources include Customer Insights. You can narrowly focus on your customers when using CI alone, but when used in conjunction with Power BI, you can combine key data from CI with additional insights. You can have a dashboard where you analyze customer demand for a particular product (using data from Customer Insights) and, still in that same dashboard, you can see the marketing budget or get acquainted with the strategy for that product (using data from the Marketing or Finance department).
Why use Power BI to analyze my customer data when I have CI? is a valid question given the high level of enrichment. Think of this simple illustration. Consider compiling data from wherever you please and customizing your analyses to meet your needs. That is the capability of Power BI.
A built-in Microsoft connector is used to transfer your client data from CI to Power BI. The next step is to simply build reports and dashboards using Power BI as you normally would.
Final Reflections.
You should be aware that Power BI and Customer Insights are two different tools. While the insights you obtain through CI may enhance the work of your salespeople, marketing team, and other customer-facing employees, Power BI enhances the work of your leaders by assisting them in making choices and putting strategies into action. The power of these two techniques when used together increases significantly, and the value you may derive from them increases proportionally with the scale of your analyses.
What are you waiting for, then? Gain a competitive edge by deploying CI for your business and using Power BI to create some amazing reports with the data it produces? To better prepare yourself for emerging and ever-changing market trends, Evincible Solutions want you to make use of your customer insights. Contact us now for further details and query.
