Optimizing and improving financial reports in Power BI: A real case
Introduction
In the financial world, the quality of reports depends not only on the data they contain, but also on how this data is presented and analyzed.
A well-designed report in Power BI can be the difference between informed decision making and an unclear decision process.
Yesterday I had the opportunity to collaborate on the optimization of a Power BI project for a financial company, and the results were significant.
The Challenge: Standardizing and Optimizing Reports
A BI professional from the company contacted me for advice on how to improve the financial reports he is developing.
The project is in its early stages, with four Power BI Reports pages already created: the first sheet with an overview of the balance sheet , with line charts for assets, liabilities, and equity over time, and three other sheets that break down each of these elements separately, displaying slicers , tables , line charts , and clustered column charts .
Overall the initial structure of the pbix is fine, the Data Model includes the very important Date table, but it was evident that it could be optimized both in presentation and functionality.
Solution Proposed by Xyclos Academy
1. Standardization of Corporate Colors
The first step was to standardize all graphics and texts according to the financial institution’s corporate colors.
This standardization not only improves the visual consistency of the report, but also reinforces brand identity, which is crucial in any corporate presentation.
2. Space Optimization and Graphics Simplification
We identified an excess of information in some graphics that could be more distracting than helpful.
We simplified these charts by removing unnecessary content spread across the Y axis, allowing for more efficient use of space and a cleaner , more focused presentation.
3. Incorporating Projections into Charts
To add significant value to the reports, we incorporate projections of assets, liabilities and equity.
This will allow the company to not only see its current situation, but also anticipate future trends, providing an enriched and proactive perspective for decision-making.
4. Inclusion of Key Performance Indicators (KPI's)
I recommended including key indicators on each of the analysis pages.
This will not only improve reporting functionality but also provide the business with a quick and clear view of its performance in critical areas.
Results Obtained
At the end of the process, the Power BI project was significantly optimized.
Reports now not only reflect the financial institution's corporate identity, but also offer much better presentation quality and more effective space allocation.
The projections and KPI's that will be added will provide a new layer of value to the reports, allowing a deeper understanding of the financial data and opening the door to future improvements and business opportunities.
Conclusion: The Importance of Optimization in Financial Reporting
This case shows how an intervention focused on standardizing, optimizing and improving reports can transform the usefulness of a Power BI project.
At Xyclos Academy, our expertise is not only focused on teaching how to use tools like Power BI, but on helping our clients maximize their impact.
If you are working on a similar project and need advice to take it to the next level, contact us today for our Face to Face consulting and training service in Power BI .
Together, we can transform your data into smart decisions and successful strategies.
Comments