Semantic Model

A semantic model in Power BI and Microsoft Fabric is the reusable data layer that contains tables, relationships, measures, calculation groups, row-level and object-level security, and DAX expressions. One semantic model can feed many reports. Renamed from dataset as part of Fabric, reflecting Microsoft's positioning of these models as enterprise data products rather than per-report artefacts. Three storage modes: Import (data loaded into memory), DirectQuery (live queries to source), and Direct Lake (Fabric-only; reads OneLake Parquet directly with import-like performance and live freshness). The right abstraction layer for shared analytics — build once, certify, consume from many reports.