In Power BI, what does a "Calculated Column" allow you to do?

A Calculated Column in Power BI enables users to add new data to a table by performing calculations on existing data within that table. This feature allows you to create a column that derives its values based on formulas or expressions, which can incorporate other columns or constants. For instance, if you have sales data and want to create a new column that calculates the total sales after applying a specific tax rate, you can define a calculated column that performs this arithmetic based on the current row's values.

Using calculated columns is beneficial for enhancing your data model and facilitating more complex data analysis or visualizations. This means that you can manipulate data and create new insights directly within the data model, which is essential for building reports and dashboards that accurately reflect your data’s narratives.

The other options do not correctly describe the functionalities of a Calculated Column. For example, creating a static visual pertains more to the visual representation of data in reports rather than data manipulation. Changing the layout of a report is related to the formatting and arranging of visuals on the canvas, and importing external data sources refers to bringing in data from outside Power BI, neither of which aligns with the purpose of a calculated column.