That is right, we are going to step up our game and start adding correlation analysis to our reports and dashboards. Why would you want to do that? Well, a good reason could be to analyze whether there is a relationship between two variables. Yes, technically, you would want to run a regression to get a better answer, but correlations can be a useful first step that does not require us to have an extensive data science background.
In this video, I am trying to figure out whether coronavirus New Cases metric is a good leading indicator with respect to predicting deaths and making policy decisions in Illinois. My analysis is somewhat crude as it does not do a very good job of adjusting data for time lag that would normally occur between a new case being reported and then death, but my rolling ten day calculations should address this lag somewhat and at the end of the day the purpose of the video is not to argue policy decisions, but rather to introduce the Correlation Plot Power BI visual and to give you a good example of how it might be used.