Financial DX / Power BI Dashboard Creation Series Vol. 1
Before Starting This Series
In the Financial Insights category, we are running a series on KPIs by industry, focusing on the theme of “Which metrics should you look at?”
The key metrics used to inform business decisions vary by industry—for example, equipment utilization rates and inventory turnover in manufacturing; inventory turnover and average transaction value in retail; and project profit margins and order backlog in construction.
However, simply understanding what KPIs are isn’t enough. In actual business operations, a system is needed that can continuously collect, visualize, and analyze those KPIs.
That’s where Power BI comes in.
In this Financial DX series, we’ll be working toward the goal of enabling finance and management professionals to create their own KPI dashboards using Power Query and Power BI.
In this session, we’ll start by showing you the finished dashboard and explaining “why we use Power BI” and “what will change once it’s implemented.”
How many hours do you spend on your monthly reports?
When you work in finance or management, you have to prepare reports almost every month.
Download data from each system, paste it into Excel, compile the data, update the charts, and transfer the information to the management meeting materials.
If we receive a request to verify the numbers or conduct additional analysis, we’ll have to start the data aggregation all over again.
| Work | Estimated Time / Month |
|---|---|
| Data Collection and Export | 1 to 2 hours |
| Aggregating and Processing Data in Excel | 2 to 3 hours |
| Updating Charts and Tables | 1 to 2 hours |
| Verification and Corrections | 2 to 3 hours |
| Total | 6 to 10 hours |
The time required for this work is 6 to 10 hours per month, or 72 to 120 hours per year.
Of course, this varies depending on the company and the nature of its work, but isn’t it true that many companies actually spend a considerable amount of time on “tasks related to creating reports”?
Dashboards in This Series
As an example, please take a look at the financial KPI dashboard for the manufacturing industry below (a demo video will be released at a later date).
The top section lists the key metrics that management should monitor on an ongoing basis.
- Operating Profit Margin
- Equipment Utilization Rate
- Inventory Turnover Rate
- Defect rate
For each of these,
- Current Value
- Year-over-year
- Progress Toward Goals
We’ve made it so you can check this at a glance.
For example, in this sample, while the equipment utilization rate and inventory turnover rate have met their targets, the operating profit margin is below target.
Looking at this situation leads to the next analysis: “Why aren’t profit margins increasing even though production efficiency is improving?”
The purpose of a dashboard isn’t just to display numbers. It’s to help you notice changes in those numbers and highlight what you should look at next.
In the lower section,
- Trends in Sales and Operating Profit Margin
- Equipment Utilization Rate by Production Line
- Inventory Turnover Rate by Product
- Trends in Defect Rates by Production Line
We have placed them.
In addition, when you switch the time period or line using the slicer at the top of the Dashboard, the entire screen updates accordingly.
Even if management says, “I just want to see Line 2” or “I just want to check the figures for 2025,” you can switch to the relevant screen on the spot to check them.
Power Query and Power BI make this possible.
The Roles of Power Query and Power BI
Power Query is a tool for cleaning up data.
You can import CSV and Excel files and record processes such as removing unnecessary columns and merging tables.
The key point is that Power Query saves your transformation steps. Even if new data arrives the following month, you won’t have to repeat the same process.
On the other hand, Power BI is a tool for visualizing data.
We organize charts, tables, and KPI cards to present them in a format that facilitates decision-making for both management and frontline staff.
If you use the DAX formula,
- Year-over-year
- Achievement Rate
- Moving Average
- Cumulative total
You can also calculate things like this.
| Name | Role |
| Power Query | Data Import and Conversion |
| Power BI | Visualization and Analysis |
| DAX | KPI Calculation |
Changes After Implementation
Implementing Power BI will transform the report-creation process itself.
My work to date has primarily consisted of data collection → tabulation → graph creation → and report preparation.
After implementing Power BI, the process will primarily consist of updating data → reviewing the dashboard → and analyzing the data.
The important thing is not reducing work time.
The job of a finance professional is not to create reports, but to interpret the numbers and support management decision-making.
For example,
- Analysis of Factors Contributing to the Decline in Profit Margins
- Assessing the Impact of Rising Costs
- Exploring Opportunities for Inventory Reduction
- Scenario Analysis of the Outlook for the Next Fiscal Year
You’ll be able to spend your time on tasks like these.
What You’ll Learn in This Series
In this series, rather than creating a finished dashboard all at once, we’ll build it step by step, starting from the basics.
| Episode | Contents |
| Vol. 2 | Power BI Desktop basics and setup |
| Vol. 3 | Cleaning and shaping data with Power Query |
| Vol. 4 | Building a calendar table and setting relationships |
| Vol. 5 | DAX fundamentals |
| Vol. 6 | Building charts and tables |
| Vol. 7 | Slicer and Filter |
| Vol. 8 | Dashboard Design |
| Vol. 9 | Sharing and maintenance |
By combining what you learned Industry-Specific KPIs—namely, “what to look at”—with what you’ll learn in this series—namely, “how to present it”—we aim to help you build your own dashboards.
Summary
By using Power Query and Power BI, you can significantly streamline your monthly report-generation tasks.
However, the real value isn’t in reducing work time.
The role of a finance professional is not to simply prepare reports, but to interpret changes in the numbers and support management decision-making.
Power BI is a tool that frees up time for that.
In the next installment, we’ll walk you through everything from installing Power BI Desktop to setting up the interface.
If you’re interested in “using financial data to support business decision-making,” please take a look at the FinStepX service page.
Frequently Asked Questions (FAQ)
1. Is Power BI free to use?
Power BI Desktop is available for free. If you're just learning on your own or creating dashboards, the free version is sufficient. If you want to share with a team, you'll need a license such as Power BI Pro.
2. If I know how to use Excel, can I use Power BI as well?
Yes. Power BI is a tool that’s relatively easy for Excel users to learn. In particular, since Power Query is also built into Excel, anyone with experience in data processing should be able to pick it up quickly.
3. What is the difference between Power BI and Excel?
While Excel is well-suited for individual analysis and data entry, Power BI excels at aggregating, visualizing, and sharing large volumes of data. Power BI is generally used as a tool to complement Excel, rather than as a replacement for it.
4. What are the benefits of finance professionals learning Power BI?
By leveraging Power BI, you can reduce the time spent on report creation and data aggregation. As a result, you’ll be able to devote more time to tasks that support business decision-making, such as budget vs. actual analysis and profitability analysis.
5. What financial KPIs can be visualized in Power BI?
You can visualize many KPIs used in financial and management control, such as revenue, operating profit margin, variances between budget and actual results, inventory turnover, equipment utilization rates, and cash flow. It also supports key metrics specific to each industry.