What I want to cover with this tutorial is an example of how you can predict profitability in the future using Power BI. I wanted to focus more on the concepts of what can be achieved here.
In order to actually achieve this in Power BI, what you need is a number of different modelling and formula techniques all used correctly and in combination.
In terms of the output which you can create inside of Power BI, you can literally predict what might happen in the future by ‘shocking’ some variables around in your calculated logic.
In this example I run through during the tutorial, I’m trying to adjust variables such as how many customers we have and the cost of goods sold to those customers.
I’m attempting to understand what the ultimate outcome would be if any of these scenarios played out.
What I’ve also enabled in this particular report page is some sensitivity analysis.
Not only can we see the end results, but we can also actually see the variations of results based on the sensitivity inputs that we place inside our reports.
This is some really unique analytical work that you can now do inside of Power BI.
It just requires utilising the right features and techniques inside of your models and formulas to get this working well.
If you do want to learn more about all of the individual techniques that go into making this work, certainly, check out the Scenario Analysis Deep Dive course at Enterprise DNA Online.
This prediction type work that you can complete inside Power BI can produce some very impressive insights. So, I highly recommend diving into this one.
Enjoy working through this detailed video.
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