In today’s video tutorial, I am going to run through some great scenario analysis techniques and also demonstrate to you how you can combine several of them in Power BI.
Power BI is an amazing tool for data analysis when you can implement techniques like this one.
Take a situation where you want to analyze future product demand. Having the ability to set up your models in Power BI so that you can run several scenarios at once can provide you with insights that can take your business to the next level.
Also, being able to incorporate some ‘What if’ parameters and then run scenario type analysis enables you to forecast or predict what you might need to do in the future to extract the right amount of revenue or optimal amount of profit.
This video will show you how you can estimate future product demand in Power BI using DAX.
You have to understand the data, the DAX formula, the parameters, and the context to get this all working well.
You’ll find by learning this technique that there is many different ways that you can expand on it and not just be restricted to analyzing or predicting product demand. For example, you can also explore changes to regional demand and/or store demand.
There are just so many ways to apply the concepts explained in this tutorial, so well worth spending the time to understand this well.
If you want to learn far more about Scenario Analysis techniques, check out the below course module from Enterprise DNA Online
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