FactSet RMS
Power BI is a powerful tool that allows users to create insightful and interactive visualizations from a wide range of data sources. Power Query M Language is an essential part of Power BI that enables users to connect to different sources of data and transform it into a format that is suitable for analysis.
One of the data sources that users can connect to using Power Query M Language is FactSet RMS. For those who are not familiar, FactSet RMS is a financial data platform that provides data and analytics to financial professionals. In this article, we will delve into how you can use Power Query M Language to connect to the FactSet RMS data source from inside Power BI.
Prerequisites
Before we dive into the details of connecting to FactSet RMS from Power BI, it’s important to note that you need to have the following prerequisites:
– Access to FactSet RMS data source
– Power BI Desktop installed on your system
– FactSet RMS connector installed on your system
If you don’t have access to any of these prerequisites, you may need to seek assistance from your IT department or FactSet RMS support team.
Connecting to FactSet RMS from Power BI
Once you have met the prerequisites, you can proceed to connect to FactSet RMS from Power BI using the following steps:
1. Open Power BI Desktop, and click on the “Home” tab.
2. Click on “Get Data” on the ribbon, and select “More” from the dropdown menu.
3. In the “Get Data” window, search for “FactSet RMS” in the search bar.
4. Select “FactSet RMS” from the search results, and click “Connect”.
5. In the “FactSet RMS Connector” window, enter your FactSet RMS username and password, and click “Sign in”.
6. Once you’re signed in, you can select the data you want to connect to from the available options, and click “Connect”.
Writing Power Query M Language Code
If you’re a seasoned Power BI user, you may want to write your own Power Query M Language code to connect to FactSet RMS. To do this, you can follow these steps:
1. Open Power BI Desktop, and click on the “Home” tab.
2. Click on “Advanced Editor” on the ribbon.
3. In the “Advanced Editor” window, enter the following code:
let
Source = FactSet.RMS(“https://api.factset.com”),
#”FactSet.RMS User” = Source{[Name=”FactSet.RMS User”]}[Data],
#”FactSet RMS Positions” = #”FactSet.RMS User”{[Name=”Positions”]}[Data]
in
#”FactSet RMS Positions”
4. Replace the URL “https://api.factset.com” with the URL of your FactSet RMS instance.
5. Replace the text “FactSet.RMS User” with the name of your FactSet RMS user.
6. Replace the text “Positions” with the name of the data object you want to connect to.
7. Click “Done” to save the code.
Conclusion
In conclusion, connecting to FactSet RMS from Power BI is a straightforward process that requires access to the necessary prerequisites. With the right tools and knowledge, you can use Power Query M Language to connect to FactSet RMS and transform your data into compelling visualizations.
