What-If parameters are a really powerful feature to implement in your models for scenario analysis.
Scenario analysis is immensely important from an analytical perspective in Power BI and ‘What-If’ parameters allow you to quickly implement tables and measures for this type of analytics.
Once you select the What-If parameter icon, it opens a popup box up where you can input some variables that will go into making a table. This table will have every iteration or every shock value that you can then lay out on top of your calculations to run these scenarios.
It does speed things up for this type of work. It doesn’t change the way that you actually implement scenario analysis at all, in regards to the DAX formulas etc, it just enables you to quickly implement it, much faster than it took to set up in the past.
What you’ll find as you get more into scenario analysis is that you can implement multiple parameters.
So, you might have one What-If parameter which is focused on demand scenarios, and you might have a pricing parameter, and you might have a supplier or costing parameter.
All of these parameters can be layered into your scenario analysis, and that is when you can create some truly quite powerful analytical work inside of Power BI.
If you want to dive into scenario analysis, check out my course at Enterprise DNA Online called Scenario Analysis Deep Dive. This is where I run into a number of different techniques around all of the things that you need to think about analytically and theoretically when implementing really great scenario analysis on top of your own data.