Consider the business value of Power BI
It's now common knowledge that data can improve business processes and increase revenue. A real-world example helps to unite the concepts that we've already covered and allow you to see the potential of Power BI in action. One such case is that of the Miami Heat, a professional basketball team in the United States, whose Power BI adoption is 70% across the organization.
The Miami Heat used the powerful analysis and visualization features of Power BI to completely transform their customer interactions and business operations. With the help of Power BI, they were able to boost season ticket sales by 30% and save approximately $1 million on operations.
Basketball is about far more than watching the skill of the players. There's a sentiment and a bonding over shared experiences that come from the viewing and the participation of sports. The Miami Heat wanted to better understand the family of customers that enter their arena or interact with their many online platforms. The challenge was to understand a single customer when there are so many of them. This situation is where Microsoft technologies come into play, Power BI chief among them.
By analyzing their data in Power BI, the Miami Heat operations team has been able to increase revenue, but also improve the allocation of resources by predicting customer behavior.
“Using Power BI and the entire Azure data platform, we can predict attendance for all 44 games of the season within hours of the schedule being released,” says Edson Crevecoeur, Vice President of Strategy and Data Analytics for the Miami Heat. “Last season, we got within 4 percent of the actual numbers for the whole season, two months before any games had been played. This puts us in a better position to identify opportunities, mitigate risks, and manage our resources in a more efficient fashion. Ultimately helping all areas of our business focus on enhancing the fan experience.”
As the Miami Heat effectively demonstrate, using Power BI and other Microsoft technologies can lead to significant returns for not only revenue, but your business users' ability to make beneficial decisions.