What-If Analysis GoalSeek
Originally published: 14/12/2020 22:01
Publication number: ELQ-40526-1
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What-If Analysis GoalSeek

Data Analysis: What-If Analysis Goal Seek Methodology.

Description
Data Analysis is the application of tools and techniques to organize, study, reach conclusions and sometimes also make predictions about a specific collection of information. (Paul McFedries, Excel Pivot Table & Pivot Charts)

Different kinds of people including Sales Managers, Scientists, Family Members, etc. may use data analysis to get the necessary information beginning from trend determination through studying experimental findings to making retirement plans.

Raw Data is the necessary item that is needed in Data Analysis.

Microsoft Excel offers a number of tools to meet the most demanding needs regarding Data Analysis.

What-If Analysis

What-If Analysis is the process of changing the values in cells to see how those changes will affect the outcome of formulas on the worksheet.

Four kinds of What-If Analysis tools come with Excel: Scenarios, Goal Seek, Solver, and Data Tables.

Scenarios and Data Tables take sets of input values and determine possible results.

(https://support.office.com/en-us/article/introduction-to-what-if-analysis-22bffa5f-e891-4acc-bf7a-e4645c446fb4)

Scenarios: It is a collection of input values that are placed in formulas to get a result.

Goal Seek: It is used to find desired result by changing an input value.

Solver: It is used to find optimal solutions for all kind of decision issues.

Data Table: It is a range of cells where one column consists of a series of values, called input cells.

This template is about Goal Seek.

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