Analysis and Visualization of Financial Data With Power Bi

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ANALYSIS AND VISUALIZATION OF FINANCIAL DATA WITH POWER BI
Thesis · December 2023

DOI: 10.13140/RG.2.2.12718.89929
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Master's Thesis
ANALYSIS AND
VISUALIZATION OF
FINANCIAL DATA
WITH POWER BI
A BUSINESS INTELLIGENCE APPROACH TO
BUSINESS DECISION-MAKING
Pedro Ayuso García

Master's Degree in Financial Management and Accounting
UPF Barcelona School of Management
Academic year 2022 – 2024

Quico Marin
Project developed within the framework of the Master's Degree in Financial Management and Accounting of the
Company taught by the Barcelona School of Management, a centre attached to the Pompeu Fabra University
2 UPF Barcelona School of Management

Abstract
This Master's thesis focuses on the exploration and analysis of the importance of Business
Intelligence (BI) tools, specifically Microsoft's Power BI, in the context of financial management and
decision making in companies. The study begins with a detailed discussion of the critical role of BI
in today's business environment, highlighting how efficient analysis and visualization of financial data
is essential to remain competitive in a global marketplace. Special emphasis is placed on Power BI,
evaluating its capabilities, ease of use, and how it transforms raw data into valuable information for
strategic decision making.
The paper includes a practical analysis of how Power BI has been implemented in leading
companies, with a focus on the Walmart case study. The benefits of using Power BI for large-scale
operations management and data-driven decision making are examined. In addition, the
development of dashboards and interactive visualizations in Power BI is presented, demonstrating
how the tool not only presents data, but also facilitates deeper understanding and strategic
interpretation of financial information.
This study concludes by underscoring the importance of Power BI as a fundamental tool in the
modern era of data-driven business, highlighting its ability to adapt to diverse business needs and
its contribution to informed and strategic financial decision making.
Keywords: Business Intelligence (BI), Power BI, Financial Management, Decision Making, Data
Visualization, Microsoft, Data Analytics, Market Competitiveness, Business Strategy, Walmart,
Interactive Dashboards, Financial Reporting, Large Scale Operations, Raw Data, Data
Transformation
This work is licensed under a Creative Commons Attribution-NonCommercial-NoDerivatives 4.0

International License
UPF Barcelona School of Management 3

Table of Contents
1. Introduction and justification. ............................................................................................................ 5
1.1. Context and historical evolution of data visualization. .............................................................. 6

1.2. Importance of Business Intelligence and Data Analytics in the financial sector. ...................... 7
1.3. Impact on decision-making and operational efficiency.............................................................. 8
2. Theoretical framework. .................................................................................................................... 10
2.1. Fundamentos de Business Intelligence y Data Analytics. ........................................................ 10

2.2. Applying Power BI in finance .................................................................................................. 12
2.3. Improved data analysis and visualization. ................................................................................ 14
3. Visualize data with Power BI. .......................................................................................................... 15
3.1. Development of dashboards and interactive visualizations...................................................... 16

3.2. Visualization elements: Charts and pivot tables. ...................................................................... 22
4. Case study. ....................................................................................................................................... 27
4.1. Applying Business Intelligence at Walmart: An Overview ..................................................... 27

4.2. Financial Data Visualization: Power BI Dashboard for Two-Year Income Statements. ......... 31
4.2.1. Introduction to the dashboard. .......................................................................................... 31
4.2.2. Dashboard overview. ........................................................................................................ 32
4.2.3. Analysis of financial data. ................................................................................................ 40
4.2.4. The narrative of our numbers. .......................................................................................... 42
5. Recommendations and limitations. .................................................................................................. 43
5.1. Proposals for improvement for future implementation. ........................................................... 43

5.2. Limitations of the current study. .............................................................................................. 47
6. Conclusion........................................................................................................................................ 50
7. Bibliography. .................................................................................................................................... 53
8. Glossary............................................................................................................................................ 57

1. Introduction and justification.
In today's world, companies face an increasingly competitive and globalized environment, where
decision-making has become more complex and challenging. In this context, financial data
analysis has become an essential tool for business success. The ability to effectively collect,
analyze, and visualize financial data is critical to understanding a company's financial health,
identifying growth opportunities, and mitigating risks. This thesis work focuses on the analysis
and visualization of financial data using Power BI, a Business Intelligence (BI) tool developed
by Microsoft that allows users to transform raw data into valuable information for business
decision-making.
The importance of financial data analysis lies in its ability to provide a clear and accurate view
of a company's financial situation. Financial data, such as financial statements, financial ratios,
and management reports, are critical for evaluating a company's performance, as well as planning
and making informed decisions. However, financial data analysis can be a complex and
challenging process, requiring technical skills and financial expertise. In addition, the sheer
amount of data available can be overwhelming and make it difficult to identify relevant trends
and patterns.
In this context, Business Intelligence (BI) tools1 such as Power BI have become a valuable
solution for finance professionals. Power BI offers a number of advanced features that make it
easy to analyze and visualize financial data, such as integration with other Microsoft tools, the
ability to connect to various data sources, and the ability to share reports and dashboards with2
others.
The relevance of this thesis work lies in its focus on the analysis and visualization of financial
data using Power BI, a tool that has gained popularity in the business world in recent years, as
well as highlighting the importance of business intelligence (BI) in business decision-making.
Despite its growing use, there is a lack of studies looking at how Power BI can be used to improve
business decision-making through financial data analysis. This paper seeks to fill this gap by
1
"What is Business Intelligence? | IBM", IBM in Germany, Austria and Switzerland | IBM,
https://www.ibm.com/topics/business-intelligence.
2
"Intro to dashboards for Power BI designers - Power BI", Microsoft Learn: Build skills that open doors in your
career, https://learn.microsoft.com/en-us/power-bi/create-reports/service-dashboards.

exploring the capabilities of Power BI and its application in financial data analysis, with the aim
of providing practical guidance for finance professionals and business decision-makers.
1.1. Context and historical evolution of data visualization.
Prior to the 17th century, data visualization was limited to maps. In 1644, Michael Florent Van
Langren, a Flemish astronomer, presented the first visual representation of statistical data with a
graph showing estimates of the longitude between Toledo and Rome.3 During the eighteenth
century, William Playfair invented important types of charts, and advances were made in
thematic cartography and the representation of abstract data.4 The second half of the nineteenth
century, known as the Golden Age of statistical graphing, brought significant innovations such
as John Snow's map of cholera and Minard's chart of Napoleon's Russian campaign.5
The 20th century began with a period of stagnation in data visualization, due to statisticians'
preoccupation with numerical accuracy. However, public interest in charts and diagrams
continued to grow. The development of cognitive psychology improved the understanding of
information interpretation and pattern recognition. Beginning in the second half of the 20th
century, computer processing revitalized data visualization, with key figures such as John W.
Tukey and Edward Tufte expanding the science of information visualization.6
Over the past few decades, data visualization has seen exponential growth, diversifying into
many areas and applications, from dashboards to analytic suites. Currently, we face the challenge
of balancing innovation in data visualization with ethical issues such as privacy and misuse of
information. In the information age, the future of data visualization promises to be both exciting
and challenging.
3
Michael Friendly, Pedro Valero-Mora y Joaquín Ibáñez Ulargui, "The First (Known) Statistical Graph: Michael
Florent van Langren and the “Secret” of Longitude", American Statistician 64, n.º 2 (mayo de 2010).
4
"William Playfair Founds Statistical Graphics, and Invents the Line Chart and Bar Chart : History of Information",
History of Information, https://www.historyofinformation.com/detail.php?entryid=2929.
5
Marta Peirano, "The Five Incunabula of Data Visualization," elDiario.es, July 1, 2014,
https://www.eldiario.es/cultura/arte/incunables-visualizacion-datos_1_4794759.html.
6
Micah Bowers, "An Overview of Common Data Visualization Mistakes | Toptal®", Toptal Design Blog, 20 de
octubre de 2020, https://www.toptal.com/designers/ux/data-visualization-mistakes.

1.2. Importance of Business Intelligence and Data Analytics in the financial sector.
In the dynamic global economic environment, the ability of financial institutions to analyze data
has become a crucial component of staying competitive and adapting to rapid market changes.
Informed decisions, based on the analysis of large volumes of financial data in real time, make it
possible to identify market trends, predict financial returns, and assess risks effectively.
The growth of digital banking and online transactions has increased data generation, requiring
financial institutions to be agile in their collection, processing, and analysis to deliver superior
services and stay relevant. Events such as the collapse of Silicon Valley Bank and the 7 volatility
of Gamestop8's shares, driven by social media, underscore the new reality of markets: customer
behavior can change rapidly, putting pressure on institutions to be proactive and not reactive to
massive customer movements.
Data analytics is not only crucial for understanding and anticipating customer behavior and
market trends, but it is also vital for the internal operation, allowing inefficiencies to be identified
and corrected. In addition, data analytics facilitates the personalization of services, improving the
customer experience across all platforms and touchpoints.
Data integration and analytics also extend to the realm of security, such as in credit card
transaction fraud detection, bringing value and trust to customers.9 Financial institutions are
required to keep up with the latest technologies, such as artificial intelligence and blockchain, to
10
continue to innovate and deliver quality services without prematurely adopting immature
technologies.
The case of Silicon Valley Bank illustrates the need for proactive data monitoring and analysis.
A sharper assessment of its financial situation and mitigation strategies could have prevented its
collapse. In conclusion, data analytics represents an essential competitive advantage for financial
7
"U.S. regulators shut down Silicon Valley Bank in the biggest collapse of a financial institution in the country
since the 2008 crisis - BBC News Mundo", BBC News Mundo, https://www.bbc.com/mundo/noticias-64910472.
8
"What has become of GameStop, the company that made Wall Street tremble", El País,
https://elpais.com/economia/negocios/2023-10-06/que-ha-sido-de-gamestop-la-empresa-que-hizo-temblar-a-
wall-street.html.
9
"AI in the Payments Industry", MONEI, https://monei.com/es/blog/ai-in-payments/.
10
"Blockchain: What is it and what is it for | TicNegocios", Tecnología para los negocios,
https://ticnegocios.camaravalencia.com/servicios/tendencias/blockchain-que-es-y-que-ventajas-tiene/.

institutions, enabling them to improve customer service, make more accurate forecasts, and
maximize revenue.
1.3. Impact on decision-making and operational efficiency.
Financials are the barometer that measures the health and long-term viability of any business. In
a world where the volume of information grows exponentially and the speed of business is
dizzying, the ability to analyze and understand financial data quickly has become indispensable.
In this context, Microsoft's Power BI emerges as a transformative tool for business analytics,
enabling organizations to visualize data and share discoveries efficiently, whether within the
enterprise or embedded in external applications or websites.
Financial decision-making has been reinvented by the use of Power BI. In the past, compiling
financial reports was a time-consuming process, and the results were often outdated by the time
they were submitted. Power BI has changed this paradigm by allowing the creation of interactive
dashboards and reports that reflect the current situation in real time. This has a significant impact
on decision-making, as it allows financial analysts to make proactive predictions and analysis.
11
With the integration of advanced tools such as Azure Machine Learning, a cloud service to
accelerate and manage the lifecycle of machine learning (ML) projects, Power BI enables
businesses to forecast trends and behaviors, enabling proactive rather than reactive decision-
making.12
Visualization is another of Power BI's strengths; It transforms financial data into intuitive and
accessible graphical representations. This makes it easier to detect patterns and anomalies,
allowing decision-makers to quickly understand complex information. The ability to share these
reports and dashboards improves cross-departmental collaboration and ensures that all
stakeholders have a common understanding of the company's financial situation.
11
"What is Azure Machine Learning? - Azure Machine Learning", Microsoft Learn: Build skills that open doors in
your career, https://learn.microsoft.com/en-us/azure/machine-learning/overview-what-is-azure-machine-
learning?view=azureml-api-2.
12
"The Power of Azure ML and Power BI: Dataflows and Model Deployment", Analytics Vidhya,
https://www.analyticsvidhya.com/blog/2020/10/azure-ml-and-power-bi/.

Operational efficiency is another key benefit of Power BI. The tool automates the collection and
presentation of financial data, reducing time spent on manual tasks and minimizing the risk of
errors. This allows finance staff to focus on more valuable analysis and strategy tasks.
Additionally, by analyzing operational and financial data, Power BI can identify areas of
inefficiency within the organization, leading to process optimization and reduced operational
costs.
In the realm of inventory management and supply chain, Power BI becomes indispensable. The
tool can analyze sales and inventory patterns to optimize stock levels and improve supply chain
efficiency. This is vital for companies that manage large volumes of products and are looking for
a way to reduce capital tied up in inventories.
Risk management and compliance also benefit from Power BI capabilities. Clear and
understandable visualizations allow companies to identify and monitor areas of risk, which is
crucial for regulatory compliance and financial risk management. Near-instantaneous
responsiveness to operations allows companies to take a continuous improvement approach,
highlighting the direct impact of operational or strategic changes on financial performance.13
In conclusion, integrating Power BI into a company's financial operations significantly improves

decision-making and operational efficiency. By providing real-time data, predictive analytics,
and clear visualizations, Power BI improves business responsiveness to market challenges and
opportunities. The tool turns finance into a generator of actionable insights that can drive strategy
and execution across the organization, ensuring that data-driven decisions are an everyday reality
and not just an ideal to be achieved.
13
"How to Use Power BI for Effective Risk Assessment | Blog", PlayerZero: The product quality platform,
https://www.playerzero.ai/advanced/powerbi-faqs/how-to-use-power-bi-for-effective-risk-assessment.

2. Theoretical framework.
2.1. Fundamentals of Business Intelligence and Data Analytics.
Business Intelligence (BI) refers to the capabilities that enable organizations to make better
decisions, take informed actions, and implement more efficient business processes using modern
technologies.14 These are used to build sophisticated models that drive future growth. A general
Business Intelligence process may include Data Collection, Sequence Identification, Forecasting,
Predictive Analytics, Data Optimization, and Visualization.
Today, every business produces a considerable amount of data in a specific way. BI is now taking
advantage of the benefits of statistical methods and technologies to analyze its past data. This is
used to discover new insights that will help them make strategic decisions for the future.
BI plays an essential role in using various tools and techniques, such as machine learning and
artificial intelligence technologies, to predict and implement insights into daily operations.
Thus, BI bridges the fields of business management and computer science to gain actionable
insights. These values and inputs are then used to reshape business procedures to generate more
efficiency and build a productive system.
After addressing what BI is, let's understand more about its evolution. Technologies have been
used as a measure to improve business efficiency from the beginning. Automation has played a
considerable role in managing and executing multiple tasks for large organizations. The
unprecedented rise of the internet and information technology has further boosted business
performance.
With today's advancements, we have BI tools that use past and present data to give businesses
the right direction for their future.
Since we now have a solid understanding of what BI is, let's look at the types of business analytics
techniques below.
14
"What is Business Intelligence?", Tableau, https://www.tableau.com/es-es/learn/articles/business-intelligence.

Business analytics techniques15 can be segmented as follows:
• Descriptive Analytics: This technique describes the past or present situation of the
organization's activities.
• Predictive Analytics: This technique predicts numbers and outcomes using a combination
of business analytics tools.
• Prescriptive Analytics: This technique recommends specific solutions for businesses to
drive their growth forward.
A complete business analytics lifecycle starts from the raw data received from devices or
services, then collecting unstructured data, processing it, and analyzing it for actionable insights.
These are then integrated into business procedures to deliver better results for the future.
To extend our learning about what BI is, let's learn about the various applications.
BI is now systematically integrated into various applications in the field of supply chain
management, customer relationship management, financial management, human resources,
manufacturing, and even for building smart strategies in sports.16
BI starts with several fundamental processes before any data analysis occurs. A smaller sample
dataset is used for initial analysis. The analytical process iterates until the business goal is
achieved by asking new questions. BI can transform raw data into more valuable inputs to
leverage this information in decision-making.
With BI tools, we can have a deeper understanding of the data. This helps companies refine their
procedures and become more productive.
To stay competitive, companies need to stay ahead of their peers and have all the latest toolsets
to help their decision-making improve efficiency and generate higher profits.
Now that we've added more value to our learning about what BI is by learning the importance,
let's understand its scope below. BI has been applied to a wide variety of applications. Descriptive
analytics is widely used by companies to understand the market position in today's scenarios.
15
"Descriptive, predictive and prescriptive analytics | Labelium", Labelium | Digital Marketing Blog,
https://www.labelium.com/blog/es/analitica-descriptiva-predictiva-prescriptiva/.
16
"Benefits of Power BI for Business | Climbea", Climbea, https://climbea.com/beneficios-power-bi-empresas/.

Meanwhile, predictive and prescriptive analytics are used to find more reliable measures for
businesses to drive their growth in a competitive environment.
We have well understood what Business Analytics is, let's see below some of its benefits.17
• Improve operational efficiency through your day-to-day activities.

• Help businesses understand their customers more accurately.
• The use of data visualization to provide projections of future results.
• This knowledge helps in decision-making and planning for the future.
• BI measures performance and drives growth.
• Uncover hidden trends, generate leads, and scale businesses in the right direction.
Likewise, when trying to implement a business analytics strategy, organizations may run into
certain problems:
• Too many data sources: Business data is produced by a wide range of internet-connected
devices. They often create various types of data, which must be incorporated into an
analytic strategy.
• Lack of skills: Some companies, mainly small and medium-sized businesses, may find it
difficult to find candidates with the necessary knowledge and skills in BI.
• Data storage limitations: Before determining how to process data, a company must decide
where to store it.
2.2. Applying Power BI in finance.
Power BI is a very efficient tool for organizing business data. There are usually different types
of limitations regarding the volume, nature, and complexity of the data, as well as its reporting
and organization through various means of data management. However, this tool offers
exceptional financial data management services, with absolutely no limitation on financial data
17
"10 Benefits of Power Bi as a Data Analytics Tool", DQS/, https://www.dqsconsulting.com/noticias/10-
beneficios-de-elegir-power-bi/.

reporting, no matter how big the company is or how complex its data is. Power BI offers
exceptional data projection systems. Financial projections are an integral part of a business's
operations, and several vital decisions are essentially derived from financial projections.
Therefore, it is an integral part of any organization's data management processes.
Power BI also offers a data projections feature called "what if" parameters that create interactive
data projections that are very efficient for comparison.18 It is a vital tool for crafting projection
statements of any number and type of assumptions.
Power BI comes with a built-in temporal intelligence feature. It also provides the ability to
organize data according to different data dimensions and parameters. Using such features, it is
very easy to identify data trends or data patterns over several years or across the entire market
competition. They are very useful for drawing important conclusions about business operations
and making important financial decisions about profitability, budgeting, business expenses, etc.
The tool provides data implications and extracts various facts and conclusions from the user-
provided dataset. It is a very useful tool for a financial planner who would like to get some
perspective or draw conclusions from the financial statements of the year. Power View is an
essential feature of Power BI that allows you to generate interactive charts, charts, and data
maps.19 It helps generate interactive charts from the financial dataset and consolidate that
information to draw conclusions and make important financial decisions. Power BI is a
collaborative platform, that is, it is easily shareable and accessible between different users, while
offering high security and protective measures. Therefore, the company's finance department or
project financial management teams can collaborate. They can work together by sharing financial
datasets, publishing financial reports and dashboards, exchanging vital data insights, and working
collaboratively and efficiently.
18
"Que son los Parámetros What If? - Information Workers [BLOG]", Information Workers [BLOG],
https://blog.iwco.co/2020/02/26/que-son-los-parametros-what-if/.
19
"Power Pivot, Power Query and Power View in Power BI - PBI Visuals", PBI Visuals,
https://pbivisuals.com/2021/02/13/power-pivot-power-query-and-power-view-in-power-bi/.

2.3. Improved data analysis and visualization.
Power BI can help reduce the risk of human error and improve the accuracy of reports.
Automating tasks such as data collection, financial statement preparation, analysis, reporting,
and presentation preparation, helps streamline processes, freeing up time for activities that add
more value. With an easily configurable dashboard, users can have real-time visibility into key
performance indicators and trends. This helps quickly identify areas for optimization, allowing
you to make well-informed decisions more quickly.
Power BI can also provide powerful dashboards that allow users to easily access, query, and
analyze data in real-time. This allows finance teams to provide better business insights into their
operations and performance, which can be critical for strategic decision-making. In addition, the
integration of Power BI with other Microsoft tools and platforms, such as Excel, makes it easy
for financial professionals who are already familiar with the Office environment to adopt and
use.20 With its ability to handle large volumes of data and its intuitive approach to data
visualization, Power BI transforms the way organizations can interpret and act on complex
information.
The ability to customize and extend reports using Power BI Desktop and the Power BI service
allows users to create solutions tailored to the specific needs of their business or industry. This
means that not only can financial data be visualized, but also integrated with operational and
market data to gain a holistic view of business performance. This promotes a proactive approach
to financial management by enabling constant monitoring and early warning of data deviations
or anomalies. This translates into an improved ability to anticipate problems and capitalize on
opportunities, resulting in a substantial competitive advantage in today's market.
On the other hand, data security and governance are fundamental aspects in Power BI, with
features that ensure sensitive data is handled and shared in accordance with company and industry
policies and regulations. This is especially important in the financial field, where the safe and
compliant handling of information is essential.
20
"How to Add Power BI to Excel: A Step-By-Step Guide", Master Data Skills + AI,
https://blog.enterprisedna.co/how-to-add-power-bi-to-excel-a-step-by-step-guide/.

In short, Power BI not only improves the operational efficiency of finance functions, but also
empowers data-backed decision-making, ultimately leading to more strategic financial
management and business performance optimization.
3. Visualize data with Power BI.
Power BI offers a customized, intuitive dashboard that fits a business's specific needs. This tool
allows you to create custom reports with ease thanks to its drag-and-drop option. For example,
specific dashboards can be developed for HR, financial analysis, or marketing, each focused on
the success of different projects.
The Power BI platform stands out for its ease of use. Its user-friendly design simplifies the
process of creating dashboards, to the point of not requiring writing code. In addition, its built-
in intelligence suggests the best components for reporting, based on user preferences. In terms of
cost, Power BI presents itself as a cost-effective option for creating attractive and functional
dashboards for any business need. Even its free desktop edition allows for complex dashboards
and reports. Although for additional features, such as sharing the boards, an affordable
subscription is required.
Security is also a fundamental pillar in Power BI. The data is stored in Microsoft Azure data
centers certified by IRAP, 21Information Security Registered Assessors Program, ensuring top-
notch data protection and cybersecurity.22 This feature ensures that important data is not only
accessible in real-time, but also protected against any compromise or theft. Accessibility and
connectivity are also Power BI's strengths. The tool works on a variety of internet platforms and
devices, making it easy to work with remote teams through its integration with Microsoft
21
"IRAP | Australian Cybersecurity Standard", Kiteworks | Your Private Content Network,
https://www.kiteworks.com/risk-compliance-
glossary/irap/#:~:text=The%20Information%20Security%20Registered%20Assessors%20Program%20is%20a%20
unique%20compliance,organizations%20to%20meet%20cybersecurity%20requirements.
22
"Linea de base de seguridad de Azure para Power BI", Microsoft Learn: Build skills that open doors in your
career, https://learn.microsoft.com/es-es/security/benchmark/azure/baselines/power-bi-security-baseline.

products such as Teams, SharePoint, and Microsoft Projects. Being a cloud-based application, it
allows you to trade from anywhere with just an internet connection. Data cache management in
Power BI is simple and efficient. Data can be refreshed up to 8 times a day with Power BI Pro
and up to 48 times with Power BI Premium, ensuring that the latest version of the data is always
accessed.23
Finally, migrating to Power BI is a simple and efficient process. Unlike other systems that require
intensive memory and speed when migrating to a cloud environment, Power BI makes the
transition easy without sacrificing performance. It allows large amounts of data to be accessed,
stored and retrieved quickly, optimizing analysis and decision-making.
3.1. Development of dashboards and interactive visualizations.
A Power BI dashboard is a data visualization tool that shows the most important data points for
a business or organization in a single view.
Power BI dashboards can be customized to display data from a variety of sources, including
Excel spreadsheets, SQL Server databases,24 and cloud-based services such as Google Analytics
or Salesforce. They allow users to track key performance indicators (KPIs), analyze trends, and
monitor business metrics in real-time. Users can drill down into the data to explore deeper
insights, and Power BI automatically updates the dashboard as new data becomes available.
Power BI dashboards are highly customizable, allowing users to create interactive visuals such
as charts, charts, maps, and indicators. They can be shared with other users, either within the
organization or externally, and can be accessed from a variety of devices, including desktops,
tablets, and mobile phones. Power BI also offers a variety of collaboration and sharing features,
such as commenting and collaboration tools, and the ability to embed dashboards in other apps
or websites.
23
"What is Power BI?: Benefits and Types of Licenses", EVOTIC | Intelligent Digital Transformation,
https://evotic.es/business-intelligence-bi/que-es-power-bi-ventajas-y-tipos-de-licencias/.
24
Adam Hughes y Craig Stedman, "What is Microsoft SQL Server? A definition from WhatIs.com", Data
Management, 17 de junio de 2019, https://www.techtarget.com/searchdatamanagement/definition/SQL-Server.

The Power BI interactive dashboard is an essential tool for data visualization and analysis,
standing out for its ability to adapt and respond to the changing needs of businesses and projects.
With built-in features for real-time data updates, users can always access the latest information,
ensuring decisions are made based on the most current data.
Interactivity is a central pillar of Power BI, where visualizations are not just static representations,
but dynamic elements that invite users to explore and manipulate the data.25 This flexibility
manifests itself in the ability to drill down into specific details, filter, and change the perspective
of the data, enriching the analytics experience.
Personalization is another critical aspect. Each dashboard can be adjusted to reflect the indicators
and metrics that are critical to a particular user or team, choosing from a wide variety of formats
such as graphs, charts, and maps. This adaptability not only makes dashboards more relevant,
but also more intuitive to use. In addition, Power BI ensures accessibility and mobility, allowing
users to stay connected to their data and insights from anywhere via mobile devices.26 This is
especially valuable in a world increasingly geared towards mobility and remote work.
Collaboration is enhanced by the ability to share dashboards inside and outside the organization.
This makes it easier to work together on data-driven decision-making, ensuring everyone
involved is on the same page. Likewise, Power BI's seamless integration with other Microsoft
services such as Excel, SharePoint, and Teams, allows users to work cohesively and efficiently,
maximizing the use of various tools and platforms.27
Taken together, the interactive Power BI dashboard not only provides a detailed, customizable
view of an organization's data, but also encourages a more informed and collaborative approach
to data-driven decision-making.
25
"Interacciones de objetos visuales en Power BI - Power BI", Microsoft Learn: Build skills that open doors in your
career, https://learn.microsoft.com/es-es/power-bi/developer/visuals/visuals-interactions.
26
Susan Harkins, "How to design and review reports for mobile devices in Power BI", TechRepublic,
https://www.techrepublic.com/article/design-power-bi-reports-for-mobile-devices/.
27
"Integrate Power BI in Microsoft Teams and SharePoint - Training", Microsoft Learn: Build skills that open
doors in your career, https://learn.microsoft.com/en-us/training/modules/modern-analytics-teams/.

As mentioned several times, Power BI offers a simple method for creating reports or dashboards
that can then be published to the cloud using Power BI Service.28 Power BI Desktop allows users,
even without technical skills, to link data from various sources, modify it as needed, generate
visualizations, and distribute it to others in the form of reports. A great way to understand how a
dashboard works in Power BI is by generating reports in Power BI Desktop and uploading them
to Power BI Service.
Below, we're going to point out the basic steps to create a dashboard in Power BI:
The first step is to connect to the data sources you want to use for the dashboard. Power BI lets
you connect to a wide variety of data sources, including SQL Server, Excel, and SharePoint.
Depending on your needs, you can connect to one or more data sources.
To connect to a data source, go to the "Home" tab and click the "Get Data" button. Then, you
need to choose the data source you want to use. For example, choose Excel as your dataset and
find the spreadsheet to use.
28
"What is the Power BI service? - Power BI", Microsoft Learn: Build skills that open doors in your career,
https://learn.microsoft.com/en-us/power-bi/fundamentals/power-bi-service-overview.

The columns and rows of your data will all be displayed in a dialog box on the screen. Now, you
can modify the data according to your needs or use it directly by pressing the upload button.
The next step focuses on data transformation and modeling, fundamental components in data
visualization as they allow you to rename columns, clarify the relationship between variables,
and eliminate duplicates.
To modify your data using the Power Query editor, 29a graphical interface for getting data from
sources, and an editor for applying transformations, select the "Transform Data" option on the
Home tab of the Editing Panel.
You can now change a column and set a custom equation for it by choosing "Custom Columns"
from the "Add Columns" menu.
To finish creating the custom column, select "OK".
To save all your edits, click "Close & Apply" to save your changes.
29
"¿Que es Power Query? - Power Query", Microsoft Learn: Build skills that open doors in your
career, https://learn.microsoft.com/es-es/power-query/power-query-what-is-power-query.

Once the data transformation is complete, the next step is to create visualizations based on the
data you've connected to. Power BI offers a wide range of visualization options, such as charts,
tables, maps, and gauges.
To create a visualization, click on the "Visualizations" panel on the right side

of the screen.
Choose the type of visualization you want to create, and drag and drop the
fields you want to use into the appropriate places.
It is then possible to customize the visualizations by changing colors, fonts,

and other settings.
After creating the visualizations, the next step is to design the dashboard
itself. This involves arranging visualizations on the canvas in a way that tells
a story or provides relevant information.
Up to this point, Power BI Desktop has been used to create visualizations. Now, to generate the
dashboards, you must first pin the analysis charts in Power BI service.
To do this, the following steps should be followed:
From the ribbon on the Home tab, select the Publish Report button.
Once in the online version, go to the study tab and select the pin symbol in the visualization of
your graph or visual, located in the upper right corner.
You can title and pin the display to a new dashboard using the dialog box that appears.

Once this process is done, a notification appears when the display has been successfully pinned
to the dashboard. From there, you have the option to create a mobile view or modify it on the
dashboard.
We recommend that you choose the key display options on the first page of the report.
In addition, interactive features such as filters, segmenters, and other

elements can be added30 to make the dashboard more dynamic and
user-friendly. Filters allow you to select a subset of the data to display,
while segmenters allow you to filter multiple visualizations at once.
Drill-downs allow you to create hierarchies of data that can be
navigated using interactive buttons. To add interactivity to a
dashboard, go to the "Visualizations" panel and choose the type of
interactivity you want to add.
Finally, you will be able to configure the update rate for the control
panel. This determines how often the data is updated on the dashboard.
You will be able to choose from several options, such as hourly, daily or weekly updates, or
establish a live connection that updates the data in real-time.
30
"Segmentaciones de datos en Power BI - Power BI", Microsoft Learn: Build skills that open doors in your career,
https://learn.microsoft.com/es-es/power-bi/visuals/power-bi-visualization-slicers?tabs=powerbi-desktop.

To configure the refresh rate, go to the "Settings" menu and choose "Options".
Then, go to the "Data Load" tab and select the update options you want to use.
Once these steps have been completed, the live dashboard is ready to use. A home panel is now
available, which can be shared with others. From the Navigation pane on the left, you will be
able to select My Workspace to share the dashboard.
Enter the email addresses or names of the people you want to share the dashboard with, granting
access permission and pressing the Share button.
In addition, you can publish it to the Power BI service, where other users can access it, or embed
it on a web page or SharePoint site.
3.2. Visualization elements: Charts and pivot tables.
In Power BI, data visualization refers to the process of creating visual representations of data and
information. This can be done using various types of charts, such as column and bar charts, line
charts, and pie charts, as well as other visuals such as maps, scatter charts, and indicators.31 The
goal of data visualization is to help users better understand and make sense of complex data by
making it more accessible and intuitive. Through the use of visuals, data visualization allows
users to see patterns and relationships in the data that might not be immediately obvious when
looking at the raw numbers.
Listed below are a number of useful visual elements for creating dashboards in the financial field:
• A line chart is a type of chart used to visualize data over a continuous period of time. It
consists of a series of data points, connected by lines, that show the change of a particular
variable over time. Line charts are often used to show data trends over time, such as
changes in stock prices or population size. They can also be used to compare different
31
"Tipos de visualización en Power BI - Power BI", Microsoft Learn: Build skills that open doors in your career,
https://learn.microsoft.com/es-es/power-bi/visuals/power-bi-visualization-types-for-reports-and-q-and-a.

sets of data, such as sales figures for different products or regions. Line charts are useful
for showing both general trends and specific fluctuations in data over time.
• An area chart is a type of chart that is used to visualize data over a continuous period of
time. It's similar to a line chart, but instead of showing data points connected by lines, an
area chart fills in the space between the data points and the x-axis with a colored area.
This helps show the overall trend of the data, as well as the relative magnitude of the data
at different points in time. Area charts are often used to show how a variable has changed
over time, such as changes in population size or stock prices. They can also be used to
compare various data sets, such as sales figures for different products or regions.

• A column chart is a type of chart that is used to compare different categories of data. It is
made up of a series of vertical bars, each representing a different category of data. The
height of the bar represents the magnitude of the data in that category. Column charts are
useful for comparing data from different categories and showing both general trends and
specific differences between categories. They are often used in fields such as business,
economics, and statistics. Column charts are similar to bar charts, but the bars are vertical
instead of horizontal.
• A combo chart is a type of chart that combines two or more chart types into one. This
allows you to display multiple types of data in a single chart and can be useful for
comparing different types of data or highlighting specific patterns or trends. For example,
a combo chart can combine a column chart and a line chart to show both the overall trend
and specific fluctuations in the data over time. Combination charts are commonly used in
fields such as business, economics, and statistics.

• A pie chart is a type of chart used to show the relative sizes of different categories of data.
It is circular in shape and divided into portions, each representing a different category of
data. The size of each chunk is proportional to the magnitude of the data it represents. Pie
charts are often used to show how a whole is divided into different parts, such as the
market share of different companies or the budget of a public body. They are useful for
quickly and easily displaying the proportions of different categories of data.
• A visual KPI (Key Performance Indicator) is a type of chart or data visualization that is
used to show the status of one or more key performance indicators. A key performance
indicator is a measurable value used to track the performance of an organization or system
against specific goals or objectives. A visual KPI typically includes a number or value
that represents the current state of the KPI, as well as graphical elements such as
indicators or bar charts that show how the current value compares to the target or
historical values. Visual KPIs are commonly used in business and management settings
to track an organization's or system's progress toward its goals and identify areas for
improvement.

• A waterfall chart is a type of chart used to show how an initial value is affected by a series
of positive or negative intermediate values. It is made up of a series of horizontal bars
that represent the different values, with the initial value at the beginning of the chart and
the final value at the end. Intermediate values are represented by bars that extend up or
down from the previous value, depending on whether they are positive or negative.
Waterfall charts are often used in finance to show the contribution of different factors to
the overall change of a security, such as the change in net income over a period of time.
They can also be used in other fields to show how a value is affected by a series of steps
or events in between.
• A matrix in Power BI is a type of data visualization that allows users to display data in a
grid format. It's similar to a table or spreadsheet, but includes additional formatting and
visualization options that make it easier to analyze and understand your data. A Power BI

matrix can include multiple rows and columns, and each cell in the matrix represents a
different value in the data. Users can use a matrix to display data from multiple sources
and compare different datasets. They can also use formatting options, such as data bars
and color scales, to highlight important trends or patterns in the data. Matrix
visualizations are commonly used in fields such as business, economics, and statistics.
4. Case study.
4.1.Applying Business Intelligence at Walmart: An Overview.
Walmart, recognized as the number one retailer worldwide, not only stands out for its huge global
presence but also for its scale and operational diversity. With more than 10,000 locations
worldwide, this giant corporation has transcended borders, becoming an icon in the retail sector.
Its economic impact is equally remarkable, generating more than $500 billion in annual revenue,
reflecting its massive scale of operations and dominant position in the market.
Walmart's workforce is equally impressive, with approximately 2.2 million associates globally.
This figure not only speaks to your size as an employer, but also to the complexity inherent in
managing such a diverse and extensive workforce.
In addition, Walmart distinguishes itself by being more than just a retailer. Its business model
encompasses a wide range of services and products, including, but not limited to, supermarkets,
electronics, clothing, pharmacy, and a growing presence in e-commerce and financial services.
This diversification reflects the company's ability to adapt and evolve in an ever-changing
market.

This impressive scale and diversity make Walmart a fascinating case study in the use of Business
Intelligence (BI). With so many different aspects to your operation, from supply chain
management and logistics to analyzing sales data and customer behavior, the effective
application of BI is critical to maintaining your leadership position and continuing your growth
in the highly competitive retail sector.32
In the dynamic and competitive world of retail, Walmart faces the constant challenge of
simplifying and streamlining its processes to gain valuable insights and make data-driven
decisions. As the business becomes more complex, the need to quickly access relevant and
accurate insights has become critical. The increasing complexity of Walmart's operations,
stemming from its global expansion and diversification of services, posed significant challenges
in terms of data management and analysis. With an ever-increasing volume of information, the
need to systematize and optimize decision-making became paramount. The company needed a
way to efficiently filter, process, and analyze this information to maintain its operational and
strategic effectiveness.33
One particularly challenging area for Walmart is managing its vast amount of financial data. The
requirements for analyzing this data are extensive, spanning trillions of transactions. This huge
volume of data required processing and analysis capabilities that surpassed conventional tools.
Financial analysts often found themselves limited to exploring aggregated data, restricting their
ability to perform deep analysis. It was essential to develop a system that would allow for a more
flexible and detailed exploration of financial data.
In addition, multiple factual relationships needed to be established during the analysis, which
added an additional layer of complexity. Data consumption at Walmart presented its own
challenges. There was a lack of centralized models, which meant that users had to have a complex
SQL experience to access and manipulate data. This resulted in thousands of hours spent
32
"Real-world stories with Power BI: Walmart Finance Standardizes on Power BI to for Digital Planning and
Analytics", Home - Microsoft Fabric Community, https://community.fabric.microsoft.com/t5/2021-
MSBizAppsSummit-Gallery/Real-world-stories-with-Power-BI-Walmart-Finance-Standardizes-on/td-p/1835272.
33
"How Walmart makes data work for its customers", consultado el 26 de noviembre de 2023,
https://www.sas.com/en_us/insights/articles/analytics/how-walmart-makes-data-work-for-its-customers.html.

preparing data and significant duplication of effort. As a consequence, there was limited time left
for actual analysis, which could delay decision-making and impact operational efficiency.
These challenges highlight the imperative need for a business intelligence approach that not only
handles the scale and complexity of Walmart's data, but also facilitates more efficient and
effective access and analysis. Walmart's implementation of BI solutions aimed to address these
issues, transforming the way the company accesses, analyzes, and uses its data to maintain its
industry leadership.
Walmart's primary goal was to develop a scalable and cost-effective platform for formatting and
presenting financial reporting data derived from day-to-day accounting journal transactions in
the United States. This involved handling huge volumes of data efficiently and accurately, while
ensuring easy and quick access to vital decision-making information.
To achieve this goal, Walmart's finance organization chose to standardize the use of Power BI.
This Microsoft tool was chosen for its ability to effectively deliver large amounts of information
to end users in a simple, fast, and powerful way. Power BI allows you to scale data consumption
regardless of the platform it's on, which is crucial given the diversity and volume of data handled
by Walmart.
Key Implementation Points:
• Democratization of Data: One of the key goals was to democratize access to data. This
means making data accessible and understandable to a wide range of users, not just those
with advanced technical knowledge. By making data more accessible, Walmart was able
to empower its employees to make informed, data-driven decisions in real-time.
• Custom SQL Elimination: Previously, data access and analysis required specific
knowledge in SQL, limiting access to a smaller group of employees with these technical
skills. With the implementation of Power BI, the need for custom SQL was eliminated,
making it easier to access and analyze data for a wider audience.

• Centralization and Industrialization of Data Preparation: The centralization and

standardization of data preparation was another crucial aspect. Not only did this improve
efficiency, reducing hours spent on data preparation, but it also ensured greater
consistency and quality in the data available for analysis.
• Data Consistency: Ensuring data consistency across different departments and platforms
was essential to maintaining the integrity and reliability of reporting and analysis.
Implementing Power BI helped Walmart maintain a high level of consistency in its data,
which is critical for accurate and effective decision-making.
Walmart set out to develop an intelligent reporting platform that would serve as a single-source,
golden, multi-source, and continuously updated source of truth. This platform would be designed
to consolidate information from various sources and provide accurate and reliable data for
analysis and decision-making.
A key goal was to enable agile analysis through reporting, offering the ability to explore multiple
relevant metrics and drill down into details when needed. This flexibility in analysis is crucial to
understanding complex business dynamics and responding quickly to emerging trends. Another
important goal was to maximize the time spent getting actionable insights and alerts, by
standardizing analytical models. This involves developing a system that not only collects and
organizes the data, but also interprets it effectively, generating valuable insights and alerts
pertinent to strategic decision-making. Walmart was also looking to empower its end users,
allowing them to create and analyze ad hoc analytics themselves. This self-service capability
democratizes access to data and analytical tools, allowing employees at different levels and
departments to perform their own analysis and contribute more meaningfully to decision-making.
The democratization of data through semantic models and the elimination of data silos were also
an essential part of the strategy. By making data more accessible and consistent across the
enterprise, Walmart was able to improve collaboration, efficiency, and accuracy in its enterprise-
level data analysis.

4.2. Financial Data Visualization: Power BI Dashboard for Two-Year Income Statements.
4.2.1. Introduction to the dashboard.
Today, data visualization has become a crucial component in financial analysis and decision-
making. The dashboard below is a Power BI tool designed to transform complex financial data
into an intuitive, accessible visual representation. This dashboard has specifically been created
to analyze and compare the financial statements of two consecutive periods, making it easier to
identify trends, changes, and critical areas that deserve attention.
The dashboard is structured to provide an immediate and detailed view of a company's financial
performance, highlighting key metrics such as revenue, cost of goods sold, gross profit, expenses,
EBIT (earnings before interest and taxes), finance costs, and net income. With a design that
allows for year-over-year comparison using a selection of interactive filters such as geographic
division and monthly temporality, users can customize the visualization to meet their specific
analysis needs.
In addition to presenting current and past data, the dashboard incorporates a percentage-of-
change system that highlights the increase or decrease in each category, thus offering a quick
understanding of financial evolution. Graphs and colored bars visually encode the direction and
magnitude of changes, while indicators provide a clear and concise numerical summary. This

integration of visuals not only improves the readability of the data, but also enhances the
analytical capability by reducing the complexity inherent in financial income statements.
This instrument is a paradigmatic example of how Power BI solutions can be employed to not
only present data, but also to tell the story behind the numbers, enabling end users to make
informed decisions based on solid and well-presented financial insights.
4.2.2. Dashboard overview.
At the core of our Power BI dashboard is a clear goal: to unravel the complexity of financial
statements and present it in a way that is immediately accessible and understandable. It's not just
about showing numbers; It's about revealing the story those numbers tell about our organization's
performance and health.
The main purpose of this tool is threefold:
• Report with Integrity: Provide stakeholders with a clear and up-to-date view of the
company's financial reality. Through accurate visualizations and real-time updates, the
dashboard serves as a reliable report that helps keep everyone on the same page.
• Analyze with Agility: Make it easier to detect trends and patterns, as well as identify areas
of concern or success. With the ability to filter and drill down to data by year, zone, and
month, the dashboard empowers users to perform deep and meaningful analysis,
supporting agile and informed decision-making.
• Project with Purpose: Assist in financial planning and forecasting by providing a solid
foundation of historical data. The tool is designed not only to reflect on the past and
present, but also to anticipate and shape the future. With every interaction, it delivers
insights that can influence future strategy and operations.

In short, this dashboard is more than just a representation of data; It is a platform for financial
discovery and strategy. It is a convergence between technology and business that seeks not only
to inform, but also to inspire those who seek to take the company forward, armed with knowledge
and understanding.
The architecture of our Power BI dashboard has been meticulously designed to ensure a
consistent and effective user experience. At the pinnacle of the design are year and geographic
division filters, allowing users to instantly select and compare financial income statements
between the 2019 and 2020 periods and between different business areas. This strategic
arrangement of filters facilitates a direct and adaptive comparison to the user's queries.
The main body of the dashboard is made up of a series of fact cards and charts that highlight key
financial indicators. Each card represents an essential financial metric, such as revenue, cost of
goods sold, and EBIT, and is complemented by visual trends that illustrate the trajectory
throughout the selected months. The decision to use this card format responds to the need to
provide clarity and quick access to the most critical information, allowing users to absorb the
data at a glance.

To dig deeper into the details, we've integrated tables and bar graphs that compare the current
figures to the previous year, along with a percentage change indicator. Not only does this
arrangement provide an accurate numerical comparison, but it also visualizes the magnitude of
variation through the use of colored bars, where red and green indicate decreases and increases
respectively, thus making it easier to identify significant trends and anomalies that might require
additional attention.

Finally, the centerpiece of the dashboard is the pie chart that shows each division's percentage
contribution to net income, a visual element that summarizes overall performance and allows you
to quickly identify which divisions are beating or falling short of expectations.
Combining intelligence and aesthetics, this design not only fulfills the goal of representing
financial data in an understandable way, but also gives it context and relevance, making it easier
to make data-driven decisions.
To bring our dashboard to life, we dove into the very roots of financial accounting: a meticulously
kept journal and a complete chart of accounts.34 This is the terrain where every number tells a
story, where every entry reflects a decision, a sale, a cost, or an investment. From this base, data
is more than numbers; They are a reflection of the company's daily effort and long-term
aspirations.
34
https://onedrive.live.com/?authkey=%21AP0S2JZy%5FsG8d6E&id=8243AA7D1A3C60C5%2146623&cid=8243A
A7D1A3C60C5

By extracting the data from a journal and chart of accounts, we are not only collecting numbers,
but translating efforts and strategies into a universal language of financial possibilities and
challenges. This exercise requires not only precision, but also a vision that understands that
behind every entry there is a team at work, a satisfied customer or a new business opportunity.
With Power BI as an ally, we transform this wealth of information into an organized and
meaningful schema. It's not just about using Power Query and DAX tools35 for efficiency, but
about applying them with the subtlety that the narrative of our data deserves. Every measurement
and calculation becomes a pillar on which our visualizations rest, every financial trend we emerge
is one more chapter in our company's history that we can't wait to read. This dashboard, therefore,
is much more than a visualization tool: it is a window into the living history of our organization,
one that is told through the evolution of our income, expenses and net results. It's the bridge
between the numbers in our accounting journal and the decisions that will shape our financial
future.
One of the most attractive aspects of our dashboard is its ability to become what the user needs
at all times. Interactivity is an essential feature of any modern analytics tool, and our Power BI
dashboard is no exception. With the addition of intuitive interactive elements, we've empowered
users to customize their analysis and explore financial data with unprecedented flexibility.
By selecting the year, users can see how the company has performed at different times, easily
comparing performance between the years 2019 and 2020. This functionality is not only crucial
for identifying trends over time, but also for understanding the impact of specific strategies and
decisions on the financial health of the organization.
The ability to filter by geographic area takes the analysis to a more granular level. Whether
stakeholders want to examine the performance of a specific region or compare multiple regions
against each other, filters by geographic division allow data to be broken down for a richer, more
contextualized understanding of the market.
35
"DAX de power BI. A few brushstrokes to understand it", MakeSoft Technologies S.L. | Microsoft Technology
Consultant, https://www.makesoft.es/dax-de-power-bi/.

In addition, month-by-month selection opens the door to a more granular inspection of financial
activity. This functionality is particularly useful for identifying seasonal patterns, assessing the
impact of specific campaigns or promotions, and adjusting projections and budgets more
accurately.
With these interactive elements, the dashboard is not only a reflection of the financial past and
present, but also a compass into the future, allowing users to dive into the 'what ifs' and explore
different scenarios with just a few clicks. In short, we've created more than just a static report:
it's a dynamic space for financial exploration that puts complex analysis within everyone's reach.
Our Power BI dashboard is a set of intelligent visualizations and deep analysis, each element
carefully selected to tell the company's financial story in the clearest and most effective way.
We've chosen a matrix to break down and compare the figures, allowing for a detailed view of
key financial categories side-by-side. This view is essential for capturing the complexity of the
data without sacrificing clarity or accuracy.
The doughnut chart, on the other hand, offers an instant perspective of the relative weight of each
division, transforming abstract figures into an intuitive visual representation. Fact cards are used
to present key metrics at a glance, offering users immediate answers to critical financial
questions. Data slicers give the freedom to explore and refine this data, allowing users to drill
down into the metrics that matter most to them.

A custom line chart charts the evolution of financial indicators over time, revealing trends and
patterns that might go unnoticed in a more static format. Customizing this chart ensures that the
insights are not only accurate, but also relevant to our specific narrative.
The real mechanism of development happens in the background, where DAX formulas become
the engine of our visualization. Using advanced calculations, such as the "Current" function that
defines the current quantity per category, and "Previous" to capture the previous year's data using
"SAMEPERIODLASTYEAR", we do more than present data: we compare and contextualize it.

The % Change calculation is critical, as it highlights the dynamics of growth or contraction,

allowing users to instantly capture the direction and momentum of financial changes.
These calculations extend to our fact cards, where metrics such as current and past revenue, along
with their percentage changes, are accurately evaluated, offering a concentrated and highly
informative summary of the most important aspects of the income statements.
Our dashboard is not only a reflection of the present, but a tool to unravel the past and project
the future. With each visualization and DAX formula, we get closer to a complete understanding,
not only of where we are, but also of where we've been and where we might be headed.

4.2.3. Analysis of financial data.
The essence of any business can be unraveled through its financial performance, and this is where
our dashboard takes center stage. The visualization we present in the Power BI dashboard is an
elegant but powerful matrix that synthesizes our company's income statement, facilitating a
comparison between the current and previous periods.
The 'Current' column reflects the most recent numbers, those that tell us where we stand today.
From 'Income' to 'Net Income', each row is a vital indicator that, like the pieces of a clock, tells
us the exact time of our financial situation. In parallel, the 'Previous' column gives us a look back,
showing us where we came from. But it's at the intersection of these two where the magic really
unfolds: the '% Variance' column.
Percentages of change are not just numbers; They are the pulse of our company. A red number
in 'EBIT' or 'Cost of Goods Sold' can be a red flag, a call to action. On the other hand, the green
tones in 'Net Income' and 'Gross Profit' tell us about success and growth. These colors aren't
chosen randomly; They are the universal language for 'attention' and 'prosperity'.
In addition, the visual presentation of this matrix not only highlights variations in percentage
terms, but also uses colored bars that extend horizontally, providing an immediate understanding
of the magnitude of the changes. It's an intuitive way to quickly grasp the direction of our finances
without getting lost in the sea of numbers.
In the section of our dashboard dedicated to the analysis of current and past figures, we find a set
of cards that do much more than present numbers: they tell a story of evolution and change. Each

card exhibits a key financial metric, in addition to its counterpart from the previous period and
the corresponding percentage variation.
We observe, for example, in the West Zone, that current revenues show a healthy increase of
25% over the previous year, an encouraging sign of growth. In contrast, financing costs have
decreased by 56%, reflecting a significant improvement in the efficiency of debt management or
a possible reduction in interest expense.
But the real star here is the custom line graphic that accompanies each card. It's not simply an
embellishment; It is a visual witness to the journey of each metric over time.
EBIT, for example, offers a vision of a jump from -12.52 thousand to 194.15 thousand, a change
that deserves to be understood in context. Meanwhile, the pre-tax Net Income rises by 1312%, a
figure that captures attention and demands further analysis.
These cards are more than just data carriers; They are the interface through which we interact
with the financial heart of the company. With them, we not only make financial performance
visible, but we make it understandable and, most importantly, actionable. They are a bridge
between numbers and strategies, between reports and decisions that will shape our path forward.

Net income margin is a critical indicator of efficiency and profitability. In our dashboard, this
indicator is brought to life through a doughnut chart that reflects this metric in a concise image.
The 17.04% figure in the center is more than just a number; It is the result of activities, reflecting
the proportion of income that actually translates into profit after all expenditures.
The donut chart, with its clarity and focus, serves as a constant, visual reminder of where we
stand in terms of profitability. It's an essential benchmark we use to measure the impact of
decisions and to guide future business initiatives.
4.2.4. The narrative of our numbers.
By completing the build of the Power BI dashboard, we gained a deeper understanding of the
history of our financial data. We've navigated detailed matrices, interpreted informational cards,
and witnessed the visual impact of line and doughnut charts, all meticulously designed to offer
not just numbers, but insight.
Data is the voice of a company's reality, and this dashboard has been the interpreter, translating
the complexities of income statements into a visual language that can be understood at first
glance. We have seen how net income margin is not just an isolated percentage, but a reflection
of the success of our strategies and operations. Each visualization has been a key piece, revealing
trends, challenges and opportunities.
Beyond presenting data, we've provided a tool for discovery and strategy, allowing decision-
making to be as informed as it is inspired.

5. Recommendations and limitations.
5.1. Proposals for improvement for future implementation.
In today's competitive world, where fast, data-driven decision-making is crucial, tools like Power
BI have become indispensable. However, to maximize its potential, it is essential for
organizations to take a customized and adaptable approach to its implementation, as the Walmart
case study has shown.
Every organization has its unique set of challenges and goals. So, instead of adopting a "one-
size-fits-all" solution, Power BI needs to be meticulously configured and customized. This
involves deeply understanding the specific needs of each department, from finance to operations
to human resources, and designing dashboards that present the most relevant data in a clear and
accessible way. For example, a sales team might need a focus on KPIs related to sales
performance and market trends, while the HR department might require a more detailed analysis
of employee performance metrics and hiring patterns.
Likewise, in the age of big data, Power BI's ability to integrate with a variety of data sources and
analytic tools is critical. Not only does this streamline workflows, but it also allows for more
thorough analysis. For example, integrating Power BI with CRM or ERP systems can provide
richer insights, facilitating a holistic analysis of the company.36 This can lead to discoveries that
would otherwise remain hidden if data is handled in silos. The BI and data analytics landscape is
constantly evolving, so implementing Power BI shouldn't be seen as a project with a defined
beginning and end, but as an evolving process. Organizations should keep up with the latest
updates and features of Power BI, evaluating how these improvements can be incorporated to
improve data analysis and presentation. This also involves a proactive attitude towards training
staff to ensure they are equipped to use these new functionalities effectively.
36
"The 8 Benefits of Microsoft Power BI Application for Your ERP System", Technology Management Concepts,
https://abouttmc.com/blog/the-8-benefits-of-microsoft-power-bi-application-for-your-erp-system/.

Successful implementation of Power BI depends not only on the technology itself, but also on
the culture of the organization. For Power BI to be effective, it's essential to foster a culture where
data is at the core of all strategic decisions. This involves training and encouraging all employees,
from senior management to operatives, to actively use data in their day-to-day decision-making.
Walmart's success in this regard is a testament to the power of a company culture that values and
uses data as a strategic asset.
In the information age, where data is a game changer, it's imperative that organizations not only
invest in powerful tools like Power BI, but also focus on developing their people's skills. Training
should not be seen simply as a learning process to use a tool, but as a strategic initiative to
strengthen the understanding and application of data in business decision-making.
First, training should start with a fundamental understanding of what Business Intelligence is and
why it is crucial in today's context. Employees need to understand how the correct interpretation
of data can influence the company's strategy and performance. This establishes a solid foundation
on which more technical skills can be built.
Second, training programs need to be inclusive and adaptive, ranging from the fundamentals of
Power BI to more advanced aspects such as data analysis, visualization, and interpretation. There
should be a focus on practical cases relevant to the industry and organization, allowing employees
to see how the concepts learned are applied in real-world situations.
A critical aspect to consider is diversity in employee skill levels and backgrounds. Therefore,
training should be modular, allowing individuals to progress at their own pace and according to
their specific needs. While some may need a basic introduction to Power BI, others will be ready
to dive into predictive analytics and data modeling. In addition, training should not be a one-time
event, but an ongoing process. The world of Business Intelligence and Data Analytics is
constantly evolving, with new features, techniques, and best practices emerging regularly.
Therefore, it is critical that there is a long-term commitment to continuous learning and
development in these areas.

On the other hand, in today's business environment, especially in the financial sector, adopting
an analytical culture is not simply an option, but an imperative necessity. Financial organizations
face an increasingly competitive and dynamic environment, where the ability to make quick,
well-informed decisions can mean the difference between success and failure. This is where
analytical culture comes in. A robust analytical culture in a finance organization translates into
the valuation and use of data analytics not as a mere operational tool, but as a fundamental pillar
in the business strategy.
The analytical culture must permeate all levels of the organization. This means that from senior
management to operational employees, everyone needs to have a clear understanding of how
their decisions can be informed and improved through data analytics. It's not just about having
access to data, it's about understanding it and using it to guide strategy and day-to-day operations.
For an analytical culture to take root, it is essential to invest in staff training. Employees need to
be equipped not only with the tools, such as Power BI, but also with the training needed to
understand and analyze data effectively. This includes continuous training programs that adapt
to technological advances and changing market demands. Beyond technical training, it's crucial
to foster a mindset that values data as a key source of insights and decisions. This can be achieved
through internal initiatives that highlight success based on data analytics, as well as the creation
of forums where best practices and learnings are shared.
A strong analytical culture thrives on experimentation and innovation. Financial organizations

must create an environment where employees feel comfortable exploring new analytical
approaches, trying new tools and techniques, and learning from mistakes without fear of negative
repercussions. In addition, a successful analytics culture is built on collaboration. The exchange
of knowledge and experience between departments and teams should be encouraged. Not only
does this improve data understanding, but it also helps break down silos within the organization,
allowing for a more cohesive and unified approach to data analytics.
On the other hand, the current era of digital information requires us to be constantly evolving,
especially in fields as dynamic as Business Intelligence (BI) and data analytics. In this context,
innovation and continuous experimentation are not only recommendations, but imperatives to
maintain relevance and effectiveness in the use of tools such as Power BI.

Power BI, as a leading BI tool, is constantly being updated and improved. Organizations should
be aware of these updates and actively explore new functionality. This could involve integrating
artificial intelligence (AI) and machine learning capabilities for more sophisticated predictive
analytics, which in turn can offer deeper insights and anticipate emerging trends or patterns in
the financial realm. The implementation of these new functionalities not only improves the
efficiency of the analysis processes, but also enhances the company's ability to make proactive
and informed decisions. In addition to maximizing the capabilities of Power BI, it's crucial to
explore and adopt emerging technologies. The integration of AI solutions, for example, can
transform data analytics from merely descriptive to predictive and prescriptive. This opens doors
to a better understanding of consumer behavior, optimization of operations, and more effective
market strategies.
Data visualization is a vital component in interpreting and communicating insights.

Experimenting with new forms of visualization can facilitate a faster and deeper understanding
of complex data. This is especially relevant in scenarios where data is extensive or particularly
complex. Innovative visualizations can also improve the way data is presented to stakeholders,
enabling more effective communication and more informed decisions.
At the forefront of business intelligence and data analytics, establishing a culture of innovation
emerges as a fundamental pillar for financial organizations. This culture transcends the mere
adoption of new technologies and practices; It is anchored in encouraging creative thinking and
experimentation among employees. By cultivating an environment where ideas flow freely and
materialize into innovative solutions, you not only improve the efficiency and effectiveness of
BI processes, but also set the stage for a substantial change in the way the organization values,
interprets, and uses data.
This cultural shift involves a reorientation towards an analytical mindset at all levels of the
organization, where employees are encouraged to question, explore, and apply data in their day-
to-day activities. The key is to integrate critical thinking and data-driven problem-solving into
training, equipping employees with not only technical skills but also the right mindset to apply
these tools effectively.

In conclusion, investment in training and skills development in the field of Business Intelligence
and Data Analytics is crucial. To maximize the return on investment in tools like Power BI,
training must be comprehensive, ongoing, and tailored to the specific needs of the organization
and its staff. This ensures that employees are not only trained to operate the tool, but also
equipped to transform data into valuable insights and make strategic decisions. By doing so,
organizations not only improve their decision-making processes, but also position themselves
more competitively in the market, able to respond with agility and efficiency to the challenges
and opportunities that arise.
5.2. Limitations of the current study.
One of the crucial aspects highlighted by this study is the growing dependence on specific tools
such as Power BI in the field of Business Intelligence (BI) and data analysis. While these tools
offer robust and efficient functionalities, their pervasive use also carries certain risks and
limitations that we should not overlook.
Walmart's experience, a case study in depth in this paper, illustrates how an organization can
benefit significantly from using Power BI. However, it is important to recognize that this tool,
like any other, has its limitations. An over-reliance on a single technology solution can lead to a
lack of flexibility and adaptability. This becomes especially relevant in a business environment
that is constantly evolving, where needs and challenges change rapidly.
For example, while Power BI is great at data visualization and offers significant integration with
various data sources, it might not always be the best tool for every scenario or business need. 37
There are situations where other BI or data analytics tools may offer more suitable functionalities
or approaches, especially when it comes to big data processing, advanced predictive analytics, or
specific integrations with certain business applications.
37
"Microsoft Power Bi, discover some of its limitations", IFD, https://ifd.com.mx/es/microsoft-power-bi/.

In addition, the technology industry is always on the move, with innovations and advancements
constantly emerging. A strict reliance on Power BI could restrict an organization's ability to adapt
and adopt new and possibly more effective technologies in the future. Not only does this
phenomenon limit technological innovation within the organization, but it can also leave it
lagging behind its competitors who opt for a more diversified and flexible approach to BI tools.
Therefore, it is crucial for organizations, including those in the financial sector studied in this
paper, to maintain a balanced and open perspective. While tools like Power BI can be core
components of a BI strategy, they shouldn't be seen as unique, immovable solutions. Exploring
and experimenting with a variety of tools and technologies should be integral to any
organization's BI strategy, thereby enabling a more dynamic and adaptable approach that can
meet changing business and technology needs.
The interpretation of data in the field of Business Intelligence, especially when using advanced
tools such as Power BI, represents a significant challenge that goes beyond mere technical
understanding.38 Even though Power BI makes it easy to visualize complex data through intuitive
charts and interactive dashboards, truly understanding and applying this data in strategic
decision-making remains a complex terrain for many professionals.
One of the main hurdles lies in the ability of users to not only understand what the data shows,
but also why it shows what it shows. This understanding requires in-depth knowledge not only
of the tool itself, but also of the business context and the market in which the organization is
inserted. For example, an increase in sales reflected in a graph may be superficially interpreted
as a success, without considering external factors such as temporarily effective marketing
campaigns or changes in consumer behavior that might not be sustainable in the long run.
In addition, interpreting data requires a critical and analytical mindset that can distinguish
between correlation and causation. There is a risk that users will make wrong inferences based
on patterns in data that seem related but don't actually have a direct causal connection. This can
lead to ill-informed and potentially damaging strategic decisions for the organization.
38
"Advantages and Disadvantages of Power BI ~ IFD Technologies", IFD, https://ifd.com.mx/es/power-bi/.

Another relevant aspect is the heterogeneity of the data.39 Power BI allows you to integrate and
analyze data from a variety of sources, but this diversity can also lead to confusion if not handled
properly. Data from different systems may have different scales, units of measurement, or even
contextual meanings, which requires careful and considered interpretation to ensure that any
analysis is valid and reliable. The ability to effectively communicate the conclusions derived
from data analysis is crucial. Professionals must be able to translate complex findings into clear,
actionable insights for decision-makers who may not have technical BI expertise. Translating
complex data into understandable and applicable strategies is an essential and often challenging
skill in the world of Business Intelligence.
Likewise, another of the most notorious challenges we face when using Business Intelligence
tools such as Power BI lies in the limitations associated with integrating data from multiple
sources. Although Power BI is a powerful and flexible tool, it is not without certain constraints
that can significantly impact the effectiveness of data analysis, especially in contexts where the
diversity and complexity of data sources are high.
First, we must recognize that financial organizations, such as the case study in this paper, often
manage a wide range of information systems, each with its own format and data structure. The
task of amalgamating this data into a coherent and usable format can be challenging. Power BI,
while equipped with robust integration capabilities, may face difficulties in harmonizing these
disparate formats. Not only does this increase the time and resources required for data
preparation, but it can also lead to the loss or distortion of crucial information during the
transformation process.
Moreover, effective data integration is not limited to the mere combination of sources. It also
involves ensuring the quality and consistency of data over time. Differences in update frequency
and data collection methods between different sources can lead to inconsistencies, thus affecting
the reliability of analyses and conclusions drawn. In this sense, Power BI may run into limitations
in managing these variations efficiently, which requires additional effort in terms of governance
and data management.
39
"Power BI: Pros and Cons | Process Engineer", Process Engineer, https://ingenieroenproceso.com/power-bi-
ventajas-y-desventajas/.

In conclusion, the implementation and use of Power BI in the financial field reveals both its
potential and its intrinsic challenges. On the one hand, Power BI stands out for its data
visualization and analysis capabilities, offering an intuitive and functional platform. However, to
take full advantage of these capabilities, it is essential to consider the learning curve and the level
of technical expertise required, especially in the integration of complex data. This can become a
significant barrier for those organizations that do not have specialized Business Intelligence staff,
limiting their ability to handle advanced integrations and, therefore, their ability to extract the
maximum value from the tool.
In addition, limitations in integrating data from multiple sources underscore the importance of
careful planning and effective data management. Not only do these limitations pose technical
challenges, but they also highlight the need for skills that go beyond the technical, including
business understanding, critical thinking, and effective communication. These skills are crucial
for the correct and effective interpretation of data, ensuring that decisions based on data bring
real and sustainable value to the organization.
Finally, it is essential for organizations to maintain a broad and diversified perspective regarding
the selection and use of Business Intelligence technologies. Avoiding a one-sided reliance on
specific tools like Power BI and exploring other solutions available on the market can provide
greater resilience and competitiveness. In a business environment that is constantly evolving, this
flexibility and openness to different technologies and approaches will ensure that organizations
stay ahead of the curve in data analysis and management.
6. Conclusion.
In this Master's Thesis, we have exhaustively addressed the relevance of Business Intelligence
(BI) in the contemporary business environment, with a particular focus on Microsoft's Power BI.
This tool has proven to be a key element in business information management, especially in a
business environment increasingly dominated by the need for agility and accuracy in decision-
making. In a world where data is generated at unprecedented scale and speed, a company's ability
to collect, process, and analyze this data not only defines its operational efficiency, but also its
competitiveness in the marketplace. Power BI, with its advanced technology and intuitive

approach to data visualization, emerges as an end-to-end solution that empowers organizations

to transform vast amounts of raw data into actionable and strategic insights.
The study has highlighted the critical importance of tools such as Power BI in today's era, where
the interpretation and analysis of financial data plays a vital role in strategic planning. Power BI's
versatility, including an intuitive user interface, dashboard customization, and the ability to
seamlessly integrate with a variety of data sources, makes it an invaluable tool for financial
professionals. These features allow users to not only collect and sort data, but also explore it
interactively, uncovering patterns and trends that might go unnoticed in traditional analytics. In
addition, Power BI's efficiency in handling large volumes of data and its ability to integrate with
Microsoft's ecosystem of applications, such as Excel and SharePoint, position it as a robust and
scalable solution, suitable for both small businesses and multinational corporations.
The practical application of Power BI is vividly illustrated in the case study of Walmart, one of
the world's largest retail companies. This example demonstrates how a global organization can
use BI to optimize its operations and improve data-driven decision-making. Walmart's study
reveals how data analytics can be applied to improve operational efficiency, optimize the supply
chain, and improve the customer experience. Through Power BI, Walmart has been able to
analyze sales trends, consumption patterns, and logistics efficiency, allowing it to make strategic
decisions based on a deep and detailed understanding of its operations and market. This case
highlights the transformative role that Power BI can play in an organization, not just as a data
visualization tool, but as a catalyst for innovation and continuous improvement.
Finally, the creation of interactive dashboards and visualizations in Power BI, demonstrated
through the presentation of two-year financial income statements, exemplifies how this tool can
be used for much more than simple data representation. These visualizations serve as a powerful
medium to tell the story behind the numbers, allowing end-users to not only view the data, but
also understand and interact with it. This ability to tell a story through data is critical in a business
environment where decision-making must be fast and based on clear and understandable
information. The developed dashboards provide a platform for deeper and more meaningful data
exploration, resulting in more informed decision-making based on sound financial analysis.

In summary, this Master's Thesis has conclusively established that tools such as Power BI are
indispensable in the modern business landscape, acting not only as data analysis tools, but as
essential enablers in the conversion of data into knowledge. In an increasingly data-driven world,
the ability to transform this data into valuable, actionable insights becomes a key competitive
advantage. Power BI, with its adaptability to different business needs, its focus on personalization
and interactivity, and its ability to simplify data complexity, firmly establishes itself as an
essential tool for any financial professional or decision-maker in the age of business intelligence.

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8. Glossary.
• Business Intelligence (BI): This refers to the capabilities that enable organizations to
make better decisions, take informed actions, and apply more efficient business processes
using modern technologies. It includes data collection, sequence identification,
forecasting, predictive analytics, optimization, and data visualization.
• Power BI: Microsoft's tool for data analysis and visualization. It transforms raw data into
valuable information for business decision-making, offering advanced features such as
integration with other Microsoft tools, the ability to connect to various data sources, and
the ability to share reports and dashboards.
• Data Visualization: The process of creating visual representations of data and

information, using line charts, areas, columns, combines, pies, and visual KPIs to
facilitate understanding of complex data.
• Interactive Dashboards: Dashboards developed in Power BI that allow you to visualize

and analyze financial data interactively, offering a detailed view of financial performance
and allowing a quick understanding of financial evolution.
• Data Analysis: An essential process for understanding and anticipating behaviors and
trends, crucial for decision-making in organizations and companies. It involves using
tools like Power BI to interpret large volumes of financial data in real-time.
• Financial Management: The practice of managing the financial operations of a business,

which includes planning, organizing, directing, and controlling financial resources.
Power BI makes financial management easier by providing clear visualizations and
predictive analytics.
• Market Competitiveness: A company's ability to stay relevant and efficient in a global

marketplace. Data analytics and business intelligence play an important role in improving
market competitiveness.
• Business Strategy: Planning and execution of actions and decisions that determine the
direction and success of a company. BI and data analytics are essential to formulating and
executing effective business strategies.

• Large-Scale Operations: Managing and analyzing large operations, such as Walmart's,

where BI and Power BI are critical to handling the complexity and volume of data.
• Data Transformation: The process of converting raw data into a more useful and
understandable format. Power BI plays a key role in transforming financial data into
accessible visuals and analytics.
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ANALYSIS AND VISUALIZATION OF FINANCIAL DATA WITH POWER BI

Thesis · December 2023

Pedro Ayuso García

The user has requested enhancement of the downloaded file.

Pedro Ayuso García

Academic year 2022 – 2024

2 UPF Barcelona School of Management

This work is licensed under a Creative Commons Attribution-NonCommercial-NoDerivatives 4.0

UPF Barcelona School of Management 3

1. Introduction and justification. ............................................................................................................ 5

1.1. Context and historical evolution of data visualization. .............................................................. 6

2.1. Fundamentos de Business Intelligence y Data Analytics. ........................................................ 10

3.1. Development of dashboards and interactive visualizations...................................................... 16

4.1. Applying Business Intelligence at Walmart: An Overview ..................................................... 27

5.1. Proposals for improvement for future implementation. ........................................................... 43

4 UPF Barcelona School of Management

1. Introduction and justification.

UPF Barcelona School of Management 5

1.1. Context and historical evolution of data visualization.

6 UPF Barcelona School of Management

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1.3. Impact on decision-making and operational efficiency.

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In conclusion, integrating Power BI into a company's financial operations significantly improves

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2.1. Fundamentals of Business Intelligence and Data Analytics.

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Business analytics techniques15 can be segmented as follows:

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• Improve operational efficiency through your day-to-day activities.

2.2. Applying Power BI in finance.

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2.3. Improved data analysis and visualization.

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3. Visualize data with Power BI.

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3.1. Development of dashboards and interactive visualizations.

16 UPF Barcelona School of Management

UPF Barcelona School of Management 17

18 UPF Barcelona School of Management

To finish creating the custom column, select "OK".

UPF Barcelona School of Management 19

To create a visualization, click on the "Visualizations" panel on the right side

It is then possible to customize the visualizations by changing colors, fonts,

To do this, the following steps should be followed:

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In addition, interactive features such as filters, segmenters, and other

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3.2. Visualization elements: Charts and pivot tables.

22 UPF Barcelona School of Management

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4.1.Applying Business Intelligence at Walmart: An Overview.

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28 UPF Barcelona School of Management