Utilizing What-If Data Analysis in Microsoft® Excel®
Learn about the what-if analysis tools available, including scenarios, data tables, and goal seek.
Reviewing different values to observe variation in results is a common task in analysis. Scenarios, data tables, and goal seek are the most popular. These What-If analyses help us predict outcomes more accurately. Seeing different scenarios and their potential outcomes determines the effect of decisions and problem-solving. Like scenarios, data tables help you explore a set of possible outcomes and show you all the outcomes in one table. Goal Seek will tell you what you need to do to achieve the target. By learning formulas and dropdowns, we can create a what-if analysis, and by putting in values and making scenarios such as best, base, and worst-case scenario, we can accomplish our goal.
• You will be able to describe a process to show scenarios such as best case, expected case, and worst case.
• You will be able to explain the what-if analysis tools including scenarios, data tables, and goal seek.
• You will be able to identify the use of solver and arrays.
• You will be able to discuss how analysis helps us to make better decisions.