BI Visuals Dashboard for financial institutions

Major 5 Visuals to Emphasize the Financial Dashboards in Power BI

Last updated on November 27th, 2023 at 11:42 am

Are you puzzled when searching for the perfect Power BI visuals to highlight various financial services? Don’t worry! You landed in the right place where your confusion regarding the Power BI visuals specialized for interpreting data from financial services gets resolved.

Besides, financial organizations and banks generate a large volume of data daily from their different financial services.

For example, the financial operations and services include sales reports, mutual fund schemes, insurance, loans, profit & loss statements, cash flow management, balance sheets, and account details.

In the past, banks used conventional methods to store vital financial data like tables which were difficult and complex for executives to interpret the necessary information to make decisions.

For this purpose, business intelligence is essential for business leaders to take advanced risk-free decisions by using dedicated analytics tools like Power BI.

So, technological innovation and development introduce advanced tools like Microsoft Power BI, which transforms these data into interactive reports and visuals.

Therefore, the chief financial officers and bank managers will make effective decisions and design a roadmap for business growth and high profit level.

5 Interactive Power BI Visuals for financial institutions

1. Product Revenue Analytics

Banks and other financial companies offer their customers or various businesses different financial services and products. In this reference, a specific situation might arise where businesses or customers want to analyze their monetary investments in other financial products.

For example, multiple customers have invested capital in different financial products like home loans, health insurance, life insurance, fixed deposits, and more. After a few years, they want to analyze the status of their capital investments. For this purpose, Power BI development services offer various tools to generate visual reports for analyzing monetary assets and financial product revenue calculations.

Customers or businesses can utilize bar charts, comparison graphs, and a combination of different interactive visual reports to gain knowledge of financial product revenue and its future insights.

2. Filter Segmentation

There are multiple banking operations where executives must filter specific financial services to estimate the results and customer behavior.

For this purpose, the slicer visual available in Power BI offers the necessary IT services for banking with advanced filter capabilities.

However, it allows the bank executives to filter the dedicated banking operations or financial parameters like gross profit, payment transactions, spending, and more, which helps them make informed financial decisions.

Microsoft Power BI consulting services help employees use conditional formatting functions to filter primary financial parameters such as the services that increase loss in the upcoming time and make an alert on these operations.

This Power BI visual tool also allows executives to design the different banking operations layouts based on the hierarchy levels of the employees of various departments.

It can also offer bank executives advanced features and functions like search capabilities with various customizable options to represent different functions of banking and financial institutions’ hierarchies.

In this way, bank executives will use a filter segmentation visual tool to differentiate the financial operations and tasks executed by multiple bank employees and team members.

3. Financial Dashboard and Analytics

Banks and other financial companies generate data based on banking operations like sales, spending analysis, expenses, and profit-loss statements.

In the conventional method, tables store all these data, which becomes difficult for the bank executives to understand.

With the digital revolution and advancements, Microsoft offers Power BI development services that provide interactive visual tools that transform these redundant financial data into a format that is easy to grasp and understand.

For this purpose, you can have detailed discussions with the experienced Power BI consultant from the list of multiple Microsoft-certified partners across the globe to improve the business intelligence capabilities of your organization.

For example, consider a scenario where bank executives want to compare their financial product sales and total expenses invested in marketing these banking products like home loans, personal loans, insurance plans, investment schemes, etc. So, the unstructured and scattered financial information creates a challenge for bank executives to compare sales and expense reports of financial products.

For this purpose, they hire an experienced Microsoft Power BI consultant who can generate interactive and intuitive comparison reports of sales and expenses using different bar charts, horizontal charts, and line charts.

Besides, it will show the comparison in the form of the total percentage of the financial products sales performed for the past two years and total expenses for converting leads into sales.

In this manner, the financial dashboard and analytics will give bank executives an overview of sales and expense reports. It also shows the total monetary investments for making successful customers and selling different financial products like loans, insurance, and fund schemes.

4. Operational Excellence Analytics

  • Banks and other financial organizations execute multiple operations like customer account opening, customer confidential financial information management, insurance plans, home loans, investment schemes, etc.
  • Successful execution of all these different financial operations requires excessive monetary transactions and investments.
  • Some investments become excessive for the execution of all these banking operations.
  • For example, consider a bank investing a large amount of money in various financial operations.
  • Such financial operations include selling insurance plans, investment schemes, trading services, and cheque-clearance services.
  • In all these services, banks want to analyze the multiple operations and track the investments to execute various financial services.
  • For this purpose, banks benefit from Power BI development services that will provide them with interactive and intuitive visual reports.
  • These reports will give executives insights into the banking operations, making informed financial decisions, and saving the capital used in other services.

5. Sales Analytics

Rapid technological development and innovation positively affect banks and customers’ changing demands regarding banking services.

Nowadays, customers require flexible banking systems that will allow them to execute payment transactions according to their convenience.

For instance, banks execute multiple financial services from different staff members, including sales of financial products like loans, savings accounts, cheque deposits, fixed deposits, locker services, etc.

There arises a situation where bank executives and managers want to identify and analyze the performance of different employees based on their sales target and the total number of financial products sold to the customers.

To solve this query of the bank managers, Microsoft introduced dedicated Power BI solutions that will help them generate an interactive visual report.

However, these intuitive reports showcase the list of bank employees who completed the sales targets and achieved higher financial product sales in a month.

In this manner, bank executives and managers will get the sales analytics report of their employees and use it to gain insights into customers’ changing demands.

After studying the variable demands of customers, banks can make informed financial decisions that will increase their profit with customer satisfaction.

Power BI Visuals – Game-Changing Tool for the Banking and Finance Sector

Data interpretation is vital in making business decisions for various financial services.

Primarily, banks and other financial institutions regularly play around with big data generated through the execution of multiple banking operations and services.

These large volumes of financial information are unstructured, which becomes a challenging task for banking executives and employees to understand.

For this purpose, Microsoft introduced Power BI, which converts all these huge financial data into interactive reports and visual dashboards that become easy to interpret, grasp, and understand.

However, for financial institutions, this digital tool will act as one of the effective banking IT solutions.

Therefore, kindly interact with a banking technology consulting company if you want to make business decisions that include financial products and services.

Indeed, they connect you with an experienced Microsoft Power BI consultant who creates customizable visual reports and dashboards based on the requirements of the banking executives.

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