Power Analytics for OneStream: Build vs. Buy Decision

Our latest offering, Power Analytics for OneStream, is the result of a collaborative effort with Preferred Strategies. This turnkey solution leverages the robust capabilities of Microsoft Power BI, empowering every business user to extract valuable insights from their OneStream data effortlessly.

In today’s data-driven landscape, it’s not uncommon for BI Managers to contemplate building an in-house reporting solution or consolidating organizational data in a central repository, such as a data lake. While centralization is commendable, it’s essential to distinguish the purpose of the Power Analytics Solution for OneStream from these initiatives.

For those considering an in-house solution, it’s crucial to be aware of the substantial technical challenges involved in creating a solution equivalent to Power Analytics. We’ve outlined some of the challenges and elements that we had to conquer and consider throughout the development process of our solution:

  • Developing a Data Adapter capable of connecting to OneStream Tables.
  • Identifying the specific OneStream tables for data extraction.
  • Understanding and transforming table data into a format suitable for Power BI and business use.
  • Extracting entity-level security from OneStream to provision Power BI.
  • Writing code to retrieve currency code values and pass them to Power BI.
  • Creating data management jobs to keep OneStream and Power BI synchronized.
  • Ingesting OneStream data into Power BI and structuring it into a dynamic Power BI data model and making it available as a Dataset for reporting.
  • Developing Fact/Data Tables and Metadata Tables within Power BI.
  • Replicating OneStream dimensions and hierarchies accurately in Power BI.
  • Crafting advanced Power BI DAX calculations and measures to ensure proper data aggregation within Power BI, matching the consolidated results in OneStream at all hierarchy levels.
  • Dynamically applying the correct OneStream positive and negative accounting signs in Power BI to align with business reporting requirements.
  • Building advanced Power BI DAX measures to accommodate aggregation weights on the account dimension as data rolls up the hierarchy.
  • Constructing a Calendar table in Power BI and utilizing it to create time-based measures (Month to Date, Quarter to Date, Year to Date, Inception to Date, etc.).
  • Adhering to standardized methodologies for developing the numerous financial DAX measures and KPIs essential for effective OneStream data analysis.

It’s important to emphasize that developing such a comprehensive solution necessitated the combined expertise of not just one, but two exceptionally skilled software firms. A collaboration between Power BI specialists and OneStream experts was the winning formula that brought this innovative tool to life.

To learn more about Power Analytics for OneStream, join us on 3/20 for our workshop, “Mastering Power BI Fundamentals: How to Build Interactive Reports for OneStream”. This hands on workshop will allow you to build reports in Power BI for OneStream alongside the instructor. Come build skills with us that will allow you to transform your OneStream application data into decision-ready information. Register today!

Check out our YouTube page or you request a personalized demo.  If you’re interested in learning more. For any inquiries, please don’t hesitate to reach out to us at analytics@blackdiamondadvisory.com.

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