Power BI analytics maximizes the business potential of your customer data. Customer analysis may involve your existing customers, your lost customers, as well as your new customers. This type of analysis is crucial for your business growth, as it will be the basis for your business decisions and endeavors.
In this post, I’m going to focus on new customer analysis. I’ll share some of my tutorials on how to use advanced DAX in Power BI to extract unique and significant insights from new customer data.
New customers can be defined as those people who never bought from you since the beginning. However, you can also put a time frame on it. If some customers have purchased before, but have not purchased in a particular period, you can consider them as new customers. It all depends with what kind of insights you want to get from your data.
In this first tutorial, I demonstrate how to calculate new customers in your reports. This tutorial is quite advanced, and it requires an understanding of table functions as well as virtual tables inside Power BI. I go through all this in detail throughout the tutorial. I also show the formulas that you need to highlight this data dynamically in your Power BI reports.
Here, I specify a time frame to identify my new customers. I consider new customers to be those who haven’t purchased in the last 90 days. Check out the video below to see how I do it.
If you have high frequency sales operation, this next tutorial will be beneficial to you. I work out my customers whether they are new or existing customers using Power BI.
This type of analysis will help you find out whether a bulk of your sales are attributed to your new customers or if you’re adding consistent value to your existing customers and they’re coming back for more.
The technique I use in the tutorial is very practical. You can change the time frame. You can analyze based on your marketing activities, the number of people who made a purchase, and the sales that came from existing customers versus new ones. You’ll also see the long-term implications of your promotions on the overall sales.
Watch the full tutorial below.
When you’re working out your new customers, you must have a good understanding of how you classify a new customer. In this next tutorial, I go deeper into analyzing new customers. I work out the new customer sales and teach you how to calculate them using Power BI.
I show you the difference between calculating new customers and calculating new customers sales. Watch the video below and see how I utilize a virtual table inside the filter context of the CALCULATE function to achieve this.
Once you implement the correct formula successfully, you’ll come up with a New Customer Analytics report just like the one in the tutorial.
Key Take Away
Understanding new customers is an important metric for a lot of businesses and organizations. This analysis will show how many sales are coming from existing customers versus new customers.
New customer analysis can help you understand whether your marketing endeavors are effective in bringing in new customers to your business. In general, new customers cost more than existing ones, so understanding customer trends is very important.
I hope that you’ll apply the techniques I use in these tutorials and implement some advanced logic inside your own Power BI models. These techniques will help you understand how much it is costing you to get sales.
These are high quality insights, which you can get from using the advanced analytics in Power BI. Learn these techniques well and try them. You’ll surely develop some really compelling reports in Power BI.
Check out the links below for more Power BI tutorials and courses.