For example, if you want to borrow a loan and know the loan amount, tenure of loan and the EMI that you can pay, you can use Goal Seek to find the interest rate at which you can avail of the loan. Goal Seek is useful if you want to know the formula's result but unsure what input value the formula needs to get that result. Scenario Manager is a dialog box that allows you to save the values as a scenario and name the scenario.For example, you can create several different budget scenarios that compare various possible income levels and expenses, and then create a report that lets you compare the scenarios side-by-side. You can also create a scenario summary report, which combines all the scenarios on one worksheet.A scenario can have multiple variables, but it can accommodate only up to 32 values.You can create and save different groups of values on a worksheet and then switch to any of these new scenarios to view different results.Below are the following key features, such as: Goal seek differs from Data Tables and Scenarios in that it takes a result and projects backward to determine possible input values that produce that result.Ī scenario is a set of values that Excel saves and can substitute automatically in cells on a worksheet. Excel has the following What-if analysis tools that can be used based on the data analysis needs:ĭata Tables and Scenarios take sets of input values and project forward to determine possible results. To enable the what-if analysis tool go to the Data menu tab and click on the What-If Analysis option under the Forecast section. If you expect a certain value due to a formula, you can find different sets of input values that produce the desired result.
You can predict the future values based on the given historical values.You can propose different budgets based on revenue.What-if analysis is useful in many situations, such as: What-if Excel is used by almost every data analyst and especially middle to higher management professionals to make better, faster and more accurate decisions based on data. You can use several different sets of values to explore all the different results in one or more formulas. In Excel, What-if analysis is a process of changing cells' values to see how those changes will affect the worksheet's outcome.
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