How do Power BI developers use statistical forecasting in their services?

Statistical forecasting is integral to Power BI services, enabling predictions of future trends based on historical data. Power BI development use built-in DAX functions, Python scripts, or Azure Machine Learning to create forecasting models like linear regression, ARIMA, or exponential smoothing. Forecasting results are visualized in dashboards with adjustable parameters, allowing businesses to explore various scenarios. For instance, sales forecasting helps retail companies plan inventory and marketing campaigns. This proactive approach empowers businesses to anticipate challenges, capitalize on opportunities, and maintain a competitive advantage.