Do you want to see how advanced you can get with Power BI? I want to show you here what would most likely be my favourite way to use Power BI.
Not just because of what insights you can find, but also the ease of which you can implement this analysis compared to what it was like to do this with historical tools like Excel. I seriously do not even know how you would get close to implementing this in Excel without having to do something outrageously complex.
Within Power BI you can do some amazing work around scenario analysis by integrating ‘what if’ parameters into your core calculations – thing like sales or profits, or transactions or something of the like.
You can essentially at any point in time predict what might occur in the future or even showcase a range of things that might occur in the future if scenarios play out as you perceive they might.
You could also overlay this on historical information as well. So you could have a look at what would have happened if something did occur.
In this specific example I show you not only the DAX measures but how you can create a table of information that could classify certain scenarios.
You might want to classify a best-case scenario or worst-case scenario, or an okay scenario, and within those scenarios, you might have multiple things that change around your pricing or your demand, or your costs.
By doing both of these things very well, you can in a dynamic way showcase results or showcase performance either historically or into the future, and be able to evaluate very, very quickly and automatically what your results might be.
So much to learn with this example, heaps of techniques to go into. Hopefully you can get out of it the exponential ways that you can change the environment in which your analysis and your results are calculated.
Never before have we really had a tool that enables us so easily and effectively to create this types of advanced analysis.
In my view you’ve got to try and understand how these all works…as if you do, you’re doing very well with DAX, you’re doing very well with Power BI, and I’m very sure you’ll be creating some pretty substantial and compelling work with your development.
Good luck with implementing all of these things in your own models. Any comments, certainly let me know down below.
If you want to dive into scenario analysis in greater detail, certainly check out my Scenario Analysis Deep Dive course. So much to learn about this incredible analytical technique inside of Power BI.
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