Analysing Black Friday results in Power BI

Black Friday - what is it, and how are prices shaping up during this day?

Black Friday, the day after Thanksgiving in the United States, kicks off the shopping season before Christmas. In many other countries, Black Friday has become equally popular, attracting crowds of consumers with the promise of attractive promotions. For companies, in turn, it is an opportunity to increase sales, and one of the key elements responsible for the success of this phenomenon is to devise correct pricing strategies.

Product prices are often reduced on Black Friday to attract customers. Data analysis shows that these reductions are not random but result from precise marketing strategies. Power BI enables data experts to understand exactly how these strategies are shaped and how they affect business operations.

What data can be analysed in Power BI?

Microsoft Power BI is a powerful data analytics tool that can process various information. In the context of Black Friday, a lot of critical data can be analysed to understand market dynamics and customer preferences. Here are some of the main areas of analysis:

1. Shopping Trends

Analysing shopping data allows you to identify customer trends and preferences in real-time. Power BI allows this information to be aggregated quickly, enabling companies to tailor their offerings to meet consumer needs.

2. Effectiveness of Promotional Campaigns

Tracking the effectiveness of different promotions in real-time is crucial during the Black Friday period. With Power BI, it is possible to analyse which advertising campaigns or channels attract the most customers and generate the most revenue.

3. Competitor Analysis

Microsoft Power BI allows you to monitor your competitors' activities, which is crucial in a dynamic retail environment. Understanding your competitors' pricing strategies can help you adjust your prices to stay competitive.

Streamline the data analysis process with Power BI

Traditional data analysis methods, based on Excel spreadsheets, can be time-consuming and complex. PowerBI introduces a modern approach, simplifying the processes of data analysis, segmentation, visualisation, and reporting by:

• Data Aggregation

Power BI allows you to instantly aggregate data from various sources, enabling you to gain complete insight into Black Friday performance quickly.

• Customer Segmentation

With the ability to segment data in Microsoft Power BI, experts can accurately target customer groups that respond to specific promotions. This is vital information for tailoring offers to different market segments - including internationally.

• Visualisation and Reporting

In Power BI, data visualisation is intuitive. Even people with little technical knowledge can use the service, as its various functionalities operate on a drag-and-drop basis. Work is also facilitated by the ability to ask questions in natural language. On the other hand, creating clear reports improves decision-making, essential for maximizing profits during Black Friday.

Data Analysis – Black Friday and Power BI

Analysing Black Friday results using Microsoft Power BI is a key element of success for businesses conducting marketing and sales activities during this intense shopping period. Understanding pricing strategies, customer preferences, and the effectiveness of promotions becomes more straightforward and more effective with modern business intelligence solutions.