Excel’s Underprivileged Commands -II ,,, Single & Double Variable Tables,, ?.

In the sequence of “Excel’s Underprivileged Commands” in my previous blog, I’ve explored “Group & Subtotal”. In this post, I’m thrilled to introduce another neglected feature “Single & Double Variables Data Tables”.

Even though, Excel is a vast application with numerous functionalities, and some wonderful features often go overlooked.

This might not be as well-known as others, but it can be very useful for data analysis, sensitivity analysis, and scenario modelling.

Before I proceed, let's have a quick recap of what data tables are.

The data table is a range of cells that shows the results based on one or two variable calculation model. By changing the input values in the data table, one can observe how they affect the results, providing a powerful way to perform sensitivity analysis.

Single Variable Data Table:

It allows to analyze the impact of a single input variable, works with one-dimensional data sets, where the input value may vary within a specified range to find how it affects result. This is particularly useful when want to study how changing one parameter influences the outcome of data model.

Let's take an example to illustrate this concept.

To understand how different pricing affects monthly Sale & Profit. A simple revenue calculation based on the number of units sold and the price per unit.

Total Sale = Units Sold * Price per Unit

Profit = Total Sale* Profit %?

One can set up a single variable data table to see how revenue changes with varying prices.

Here's how you can do it:

1: Enter the formula for Total Sale & Profit calculation in cells,

O6: =O4*O3

O7: =O6*25/100

2: Create a list of different Price values in a column or row Q4:Q6.

3: Copy formula from O6 & O7 into R3 and S3.

4: Select Q3:S6.

5: Go to the "Data" tab, select "What-If Analysis," and choose Data Table.

6: In the Column Input Cell box, enter the reference to the input cell for the price per unit, Q4 in this example.

7: Click "OK,"

Excel will populate the values for each price, enabling to visualize the relationship between price and revenue.

Double Variable Data Table:

It extends the concept of single variable data table by allowing to analyze the effects of two input variables on the output simultaneously. This is particularly useful when dealing with complex models influenced by multiple factors.

Let's consider the old scenario to grasp, the Sale and its Profitability depends on both the Price & Units.

Total Sale = Units Sold * Price per Unit

To create a double variable data table, follow these steps:

1: Copy the formula for Total Sale in Q11.

2: Enter Price in O12:O14 and Units in R11:U11.

3: Select range Q11:U14.

4: Go to the "Data" tab, select "What-If Analysis," and choose "Data Table."

5: In the "Row Input Cell" box, enter the cell reference O3 and, as the "Column Input Cell" O4.

6: Hit "OK,".

Excel will populate the data table.

This visualization will help you make informed decisions based on the returns for various scenarios.

The Single & Double Variables Data Tables are powerful tools for sensitivity analysis and scenario modelling. By examining the impact of variables on output, one can gain valuable insights into data.

Despite their powerful abilities, Single & Double Variable Data Tables are not as popular as other Excel features for several reasons.

1. These functionalities might be comparatively less spontaneous to use for those who are not familiar with data analysis techniques or scenario modelling.
2. Users often tend to stick to more straightforward functions like SUMPODUCT and overlook their potential.
3. Some users might be not aware of their existence due to partial exposure or lack of complete Excel training.

Despite their underprivileged status, once users become aware of their potential, they can significantly enhance their data analysis and decision-making processes.

“So, take the initiative to explore the true power of Excel's Single & Double Variable Data Tables”.

Stay tuned for the next blog, and continue your journey towards Excel mastery!

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