Excel’s Underprivileged Commands – IV,,, the Fairylike Goal Seek, ?

Excel has few hidden gems that often go unnoticed, one such neglected feature is "Goal Seek."

Although not as common as some of its better-known counterparts, Goal Seek can be a powerful tool for problem-solving and analysis. Through this blog, I’m trying to explore the advantages and disadvantages of Goal Seek, along with an example to showcase its abilities.

Benefits:

1.?It’s useful especially when handling complex calculations or scenarios where one has to specific target value in mind. Instead of physical adjusting input values to achieve the desired outcome, Goal Seek automates the process, saving time and effort.

2.?For scenarios which has a result in mind but aren't sure about the input required to attain it, Goal Seek can be a real game-changer. It allows to work backward, identifying the necessary input based on a given output, makes the Data analysis easy.

3.?It’s a great tool for performing "What-If" analysis. One can easily explore different scenarios by setting the target value as the cell containing the formula want to reach, and then defining the cell to adjust to achieve that goal.

4.?Goal Seek feature comes with a user-friendly interface that makes it accessible to users of all levels. It doesn't require composite formulas or macros, making it a suitable tool for many.

Drawbacks:

1.?One of the primary limitations is that it can only work with single-variable functions, so it can adjust only one cell to reach the target value while keeping other variables constant. This makes it inappropriate for scenarios with multiple inter-reliant variables.

2.?The precision of Goal Seek is dependent on the accuracy of Excel's iterative calculations. In some cases, it may not be able to find an exact solution, or it might find a solution that is very close but not precise enough for your needs.

3.?Goal Seek relies on the initial values provided as the starting point for the iteration. Depending on the chosen initial values, it might converge to different solutions, and user may need to test to get the desired result.

“I do strongly believe that, one of the improved features of Excel,,,?“SOLVER” has over shadow the Goal Seek.”

Let's consider a simple example to prove the power of Goal Seek.

Imagine the user wants to know how many units of a product needed to sell to reach a specific profit target.

Let's assume the selling price per unit, variable cost per unit, and fixed costs.

The formula for calculating profit in a cell:

= (Selling Price - Variable Cost) * Units Sold - Fixed Costs.

1.????Set up a cell with the desired profit target, say Rs. 30,000.

2.???Now, reach to "Data" Tab & select "What-If Analysis," then hit on "Goal Seek."

3.???In the Goal Seek dialog box, set the "Set Cell" as the profit cell, "To Value" as the target profit Rs. 30,000, and "By Changing Cell" as the "Units Sold" cell.

4.???Finish with “OK,"?

And the Goal Seek will perform iterations to find the number of units you need to sell to achieve the Rs. 30,000 profit targets.

The Goal Seek may be counted as deprived command, but it should not be underestimated, it streamlines complex calculations and provides valuable insights for data analysis.

However, it's essential to be aware of its limitations and use it appropriately, knowing when it's the right tool for the job.

?“The Goal Seek,, swiftly adjusts value & empowers users to make informed decisions with matchless accuracy”.

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