Forum Discussion
Helper IVCost Estimating Analysis - An Approach for Estimating Individual Cost based on Total Costs?
I have a dataset of projects, details, and total costs from which I want to extrapolate the cost of each component of each project. Does anyone have any suggestions on how to start this endeavor?
A good example would be to think of grocery shopping receipts. I have all the items purchased and the total, but I'd like to estimate the cost of each item. My hope is that there is enough data where two receipts are identical except for one item, allowing me to isolate the cost of that item. But I'm not even sure how I would approach that programatically.
4 Replies
- lbendlin
Super User
That's an interesting premise.
Please provide sample data that covers your issue or question completely, in a usable format (not as a screenshot).
Do not include sensitive information or anything not related to the issue or question.
If you are unsure how to upload data please refer to https://community.fabric.microsoft.com/t5/Community-Blog/How-to-provide-sample-data-in-the-Power-BI-Forum/ba-p/963216
Please show the expected outcome based on the sample data you provided.
Want faster answers? https://community.fabric.microsoft.com/t5/Desktop/How-to-Get-Your-Question-Answered-Quickly/m-p/1447523- Domenick
Sure. I'm excited to see what you can come up with. While my actual data set is more complex with more variables, I've created a sample data set that I think is sufficient in working out a methodology.
I've uploaded a pbix file with the sample data here:
https://drive.google.com/file/d/1HWl8WO7ZfexQTuZPhpBat0lp6PB3XwuI/view?usp=sharing
My ultimate goal is to have the user build a new "order" that will produce an estimate and perhaps a range (minimum and maximum). You can see a concept of the final result in the Report View of the pbix file above.
This data will be "live" in a sense - more data will be added over time. The idea is that as more data is added, it would improve the algorithm to estimate costs.
I should note that when I created the attached data set, I used consistent costs for the components when coming up with the total costs. But in the actual data, costs are variable (hence the need for a cost estimating tool).
- lbendlin
You will want to rethink your data model a bit more. I have an alternative version but I don't like it much either
What should happen to order items that are not shipped yet? Do these need to be considered?
