Power BI datasets represent enterprise-grade semantic models providing the authoritative source of truth for reports in the largest organizations, promoting consistent, data-driven decisions.
The announcement of Microsoft Fabric earlier this year marks the dawn of a new era for the product.
In the age of Fabric, the term “dataset” is too generic, and doesn’t do justice the rich functionality provided. The scope of personas, workloads, and services that create artifacts which could be labeled as “datasets” is far broader than when the term was originally introduced.
Datasets are being renamed to semantic models in Power BI and Fabric:
- The change will be seen in the most prominent UI elements in the product, and the documentation is being updated.
- APIs are not currently affected, and we will progressively roll out further changes.

Please refer this announcement for more info.
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