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.

1. Data Analysis
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.
Let’s have a look at Examples:
Goal Seek:
This Goal Seek What-If Analysis Tool helps us to get desired result.
Let’s say that you are Kielbasa (Sausage) Producer.

2. Four Categories of Kilebasa are produced and sold by your company.
You intend to get 55 000 AZN profit. As you may see from below table, three Kielbasa
Categories have been already sold. Luckily, you have one Category of Kielbasa which can
help you to reach to your profit.
Cell B9 gives us Total Profit. The Schema is as below:
Revenue is done multiplying Weight with Price. Margin in the form of Percentage is
multiplied with Revenue and Profit is formed. Total Profit is Sum of Profit by Kielbasa
Categories.
Whenever you use Goal Seek, you will need to select a cell that already contains a formula
or function. In our case, we will select Cell B9 as it contains Function Sum.
From the Data tab, click the What-If Analysis command, then select Goal Seek from the
drop-down menu.

3. Three field dialog box appears.
The First Field: Set Cell (Cell B9 has been already selected)
The Second Field: To Value: (Desired Output. 55 000 is our target)
The Third Field: By Changing Cell: Goal Seek places its answer.B5 has been selected in
our case. It’s the Kielbasa Category for which we must try to sell the weight which can help
us to reach to the desired profit.

4. Click OK.
Goal Seek finds an answer. Click OK.
As you may see we must cell 12 800.57 kg Cured Kielbasa to reach our desired 55 000
AZN profit.
Here We Excel with What-If Analysis (Goal Seek) in Excel. To be continued…