Calculated columns are additional columns that are created in data model tables through the use of the Data Analysis Expressions (DAX) formula language. Calculated columns are computed for each row in a table at the time of their creation, as well as during the refresh process. Hence, the data refresh process executes the queries defined in the Power Query Editor. These queries create corresponding tables and/or refresh the data in the data model. Then, Power BI recalculates any calculated columns for each row in the table.

This means that calculated columns are always up-to-date, based on the latest data that's loaded into the data model. This also means that updates to the calculations only occur as part of the data refresh process. In other words, user interactivity, such as interacting with slicers or the application of filters, does not change the calculation of a calculated column for a row.