Technical Topics: Themes and Favorites
Summit 2022 spotlighted some emerging technical topics we were excited about.
–Analysis and Business Planning: What-if parameters are user-input value slicers that feed into measures. They allow the user to account for projected changes in revenue, sales, and costs, making them a go-to when building business scenario planning reports. These fluctuations can be plotted against the actuals to display the different scenarios and outcomes, which helps leaders make better decisions.
–Interpreting Results: When interpreting the results of various datasets, it is important to keep in mind that standards of acceptable confidence factors may differ based on the type of data being analyzed. For instance, empirically measured sciences such as biology and physics testing will look for much higher confidence levels before accepting the null hypothesis or the alternative hypothesis. When working with living humans and how they interact with the world around them, the end user must remember that there is a lot of immeasurable “noise” in the data that will make the data set more sporadic. This means when looking for indicators such as response rate, the acceptable confidence levels are much lower, allowing for more freedom in the data and subsequent calculations.
–Growth and Evolution: As Power BI grows into a more powerful tool with each day, usage is evolving from basic “What Happened” reports (i.e., our standard Adhoc reports) to “Why it happened” reports, where we’re beginning to explore more Agile Business Intelligence reports. Currently, we are at a point where we can extend the usability of Power BI by adding the two prominent coding languages — R and Python. This will help us tap into “What can happen? And Optimize Actions” reports, where we can dive into Predictive Analytics and Machine Learning.