In SharePoint 2016, Excel Online is the only service that can load workbooks with embedded data models. Other service application such as PPS, Reporting Services etc which needs to access data models must first invoke Excel Online to load them. Excel Online uses the Analysis Services client libraries to handle the communication. This makes it important for Excel Online must be able to communicate with Analysis Service for any application that wants to consume a workbook with an embedded data model.
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Visit my introductory post for SharePoint 2016 BI features.
There will be many more options and features which might not be mentioned. Ensure you visit the Microsoft website for detailed documentation.
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