Benefits of having Stripe data in Power BI
It is not easy to manage a company and keep up with the numbers, reports, and analytics. We have a lot of accurate data, but it is hard to bring it all together. Now imagine all your data in one place where the information can be accessed in seconds. This will improve efficiency and the ability to make faster and better decisions. The integration of stripe and Power BI allows you to do that.
Stripe is a payment processing network primarily built for receiving payments for online businesses. The data they store includes the mode of payment, date of purchase, amount of purchase, customer data, product data, and much more. Since you are managing an online business, that information is of merely no use if it can’t be accessed and displayed easily. You might also have other relevant data of your business about customers, products, sales, subscriptions, etc in some other place. It is likely that drawing up reports from multiple systems is a little inconvenient and daunting for you.
Power BI lets you track, explore, and visualize your Stripe and other data to mitigate your problems. Once you have linked your account with the Stripe API and have loaded all data, you can build reports and dashboards. This not only helps visualize data but also helps to keep it up to date with the ability to refresh data on-demand or with scheduled refreshes. The ability to load and merge data from other sources, such as CRM, your EPR, Google analytics, etc. will create a real Business Intelligence report. This saves time by allowing users to access all data in one place for fast decision-making.
You will see things more clearly after connecting your Stripe account with Power BI. You get to know your profit/loss and other comprehensive information with the aid of analytics, such as when subscriptions need to be renewed, and when invoices need to be sent. The reports will give you a simple and better understanding of your company, and rather than worrying about the numbers, you can fully concentrate on your business.
With Power BI you are also able to access reports with a smartphone or a tablet, so it is easy to monitor your business anytime and anywhere. You can also set up different authorization roles so the users only have access to the data they are responsible for.
With the reports you get, you can analyze major business factors like,
- which product is doing good in the market and which is performing badly.
- frequent customers
- sales per country through map visuals
- trends over time.
Power BI offers unmatched services that are difficult to find in one place. Linking your stripe account with Power BI will be the best decision for your business and you can leave the statistics and analytics to it without giving any thought.
Are you using Stripe in your business and would also like to benefit from having all this data in a BI tool? Get in touch with us and we will help you to load all data, create a proper data model, and design reports according to your needs.