Have you ever wanted to create automatic forecasts based on historical information? In the past, this was relatively difficult to do using tools like Excel but I’m going to show you in this video tutorial how you can do this in an almost automatic way inside of Power BI.
What we’re going to do is look at historical time periods and use those as values in our equation to project a forward forecast.
I’m going to utilize time intelligence functions in Power BI to showcase how you can do this in a very dynamic way.
By combining multiple techniques in Power BI using DAX, you can achieve these really great insights. In this case, we’re just drilling into forecasts and trying to create forward benchmarks so that we can compare our actual results against something that actually makes sense.
Historically, you might have retrieved information and summarized it in a table, and used that as a benchmark, but in the video, I show you how you can create benchmarks and forecasts dynamically. This is a more effective and efficient way to actually project numbers forward and enables you to compare how you’re actually performing against a prior period or a combination of prior periods.
So lots to learn in this tutorial. Dive into the video and try and use a lot of the techniques that I go through in your own development work.
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