ACHIEVE YOUR TARGET IN EXCEL
Goal Seek
Goal Seek is a handy feature in Excel that helps you work backwards to achieve a desired outcome. It’s like having a built-in “what-if” scenario planner.
The Goal:
- Specify the target value you want to achieve in a specific cell (e.g., total sales reaching $10,000).
The Variable:
Select the cell containing the value you can adjust to influence the outcome (e.g., number of units sold).
Behind the Scenes:
Goal Seek automatically adjusts the variable cell’s value until the formula in your target cell reaches your desired outcome.
Benefits:
Find the Missing Piece:
Identify the input value needed to achieve a specific goal.
Sensitivity Analysis:
See how changes in one variable impact the final result.
Set Sales Targets:
Plan sales figures by setting a target and adjusting units sold.
How to Use Goal Seek:
Data Setup:
Ensure you have a formula in the cell containing your target value.
Goal Seek Menu:
Go to the Data tab > What-If Analysis > Goal Seek.
Set Cell:
Enter the cell reference of your target value.
To Value:
Type the desired outcome you want to achieve.
By Changing Cell:
Select the cell containing the variable value you want to adjust.
Click OK:
Excel will find the adjusted variable value that reaches your target.
Remember:
Goal Seek works best for single variable problems with well-defined formulas. For complex scenarios, consider using Excel’s Solver add-in.
Video Link: (456) How to create a Pivot Table in Excel – YouTube
