Tag Archives: excel update

how to use goal seek in excel

How to Use Goal Seek in Excel

Excel has proven itself to be very useful in various situations over and over again. The list of Excel’s benefits seems to be never-ending.

It even has a tool for answering questions and forecasting information. The Goal Seek function in Excel is a great tool for those asking “What if” type questions.

Use this guide to learn how to use goal seek in excel as well as how to put it into action.

Why Use Goal Seek?

why_use_goal_seek_

 

The Goal Seek feature in Excel is basically used to create formulas. It provides information on cause and effect situations.

It determines what specific data will impact another set of data. This feature comes in handy in lots of scenarios.

In financial and sales situations, it can be used to determine what must be accomplished in order to reach a certain monetary goal.

It can also be used to calculate how many votes a candidate needs to win an election.

Once you have your Goal Seek formula in place, you can change any part of it to see how the formula as a whole change.

For example, a computer sales company has a profit goal of $3 million for the year.

Each of their computer systems cost $200, while additional accessories like keyboards cost $50 extra.

This company could use how to use goal seek in excel to determine how many of each product they’ll need to sell to reach their goal.

Here’s How To Use Goal Seek In Excel

To use Goal Seek, you will have to open a new sheet and enter the current information you have.

To make learning Goal Seek a little easier, we are going to use a simpler example.

Sample Scenario

how to use goal seek in excel

How To Start

To start, enter your information and functions into a spreadsheet in an organized table.

For our data, we’ll have the headings Playground, Movie, and Total in the first column.

Across the top, we’ll have the headings Votes and %. We have set up our table to calculate percentages base on the votes.

The goal will be to determine how many votes will it take to choose the Playground option.

Next Move

The next thing we need to do is select the cell we want to change. We want to make the Playground vote equal 66%, or 2/3, so we will select that cell.

Under the Data tab, locate the “What If Analysis” button. Click it to reveal the drop-down menu.

On this menu, you will see “Goal Seek.” Select this option, and a dialogue box will appear.

The first option you will see will ask you to set your cell. In our case, the percentage of Playground votes cell is D2, so we will enter that into the box.

Next, you will see “To value.” This is where you enter the desired goal. Our goal is 66%, so we will enter that into this box.

Final Steps

Finally, the last box will say “By changing cell.” This will be whichever cell you want to change in order to get your result.

We want to know how many votes will get us to 66%, so we want to change the number of playground votes. In our case, that is cell C2.

After you input all of your information, hit OK. Your information on your table will change to accommodate the goal number you have set.

In our case, we change the playground percentage to 66% based on the number of votes it needs.

When we hit OK, the numbers on our chart revealed that 24 out of the class’s 37 students would have to vote for the playground.

That is for them to reach 66% and establish a fair vote.

The Goal Seek function also shows us that for this to be true, 13 students will have voted for the movie.

Conclusion

 

how to use goal seek in excel

The Goal Seek function can be a very useful tool when trying to forecast sales, finances, votes, etc.

Numbers can be tricky to determine, and in important situations, it can be crucial to making decisions based off of accurate information.

The Goal Seek serves to perform exactly that.

Upon first use, the function can prove to be a little tricky. An important thing to remember is to make sure all of the functions in your table make sense.

The Goal Seek feature will not work properly if your functions don’t add up.

You may also get some funky numbers that don’t make sense if your functions don’t make sense.

It is a good idea to practice using this method a few times before you start using it for important projects.

Once you have the feature mastered, Goal Seek is an excellent tool for both professional and educational use.

Read through this guide on how to use goal seek in excel and follow the steps a few times to really nail down the skill.

This may come as a surprise to how useful it becomes. As a matter of fact, your business or job will be a lot easier.

Soon you’ll be forecasting information for all sorts of projects!

How to add cells in Excel (screen shots of cell data added up via the SUM formula).

How to Add Cells in Excel to Sum Up Totals Automatically

Excel’s great for displaying data and even better at crunching numbers. Here’s how to add cells in Excel to sum up totals automatically… Even when you change the numbers.

A great feature that Excel has to offer is its use of formulas. Since Excel is often used to organize numerical data for a variety of operations, it can be beneficial to have an ‘addition’ function. In this guide, we are going to discuss the various ways we can add cells in Excel.

Why is the Addition Function Useful When You Need to Add Cells in Excel?

As we already know, in Excel Worksheets we can add columns. However, sometimes it is necessary to add cells that are not in columns or are not even next to each other.

For example, let’s say you are performing a survey to present data. You are interviewing random students to find out the most popular subjects taken in school. Your poll is anonymous, allows students to select only one option, and is organized by gender and grade levels Freshman, Sophomore, Junior, and Senior. The survey offers several subjects.

This survey is set up to give you a wide range of information and a variety of totals for you to examine. You could add these totals yourself, or you could use the many ways to add these numbers to Excel.

How to Add Cells in Excel: Method 1 (via Individual Table Cells)

In addition to adding columns in Excel, you can also add horizontally in rows. Let’s say you want to know how many senior males were surveyed. You can do this by adding up all the numbers in the Senior Male row. Let’s say the Senior Males row is row two in columns B2 through H2. One way to add your numbers is to select cell I2 and type the equals (=) sign, followed by the numbers in each cell in that row. For example, it may look something like this:

=5+6+2+7+0+9+1

Then, hit the enter button and you will get your total. While this method works, you will not be able to change the numbers in your cells without also changing your formula.

Because of this problem, it is better to enter the cells than the information within them. Rather than the above example, your formula will look similar to this:

=B2+C2+D2+E2+F2+G2+H2

When you hit Enter after typing this, you will still get your total. However, this time, you will be able to change the information in these cells, and the change will automatically affect the total.

How to Add Cells in Excel: Method 2 (Sum Function)

There is another method to adding rows. In this method, select your total cell. In our case, it has been cell I2. Type the equal (=) sign. Next, click the first cell in your row, or B2. This cell will become highlighted and appear next to the equal (=) sign. Then, type the plus (+) sign and click the next cells in the row. Continue this until you have clicked every cell in the row. Hit Enter to view your total.

Finally, rows can be added in the same SUM Function that we learned with columns. In your total cell, type =SUM. Then, type or click your beginning cell. Type the colon (:) mark and then type or click on the last cell in your row. It will look something like this:

=SUM(B2:H2)

Hit Enter when you have completed this function, and your total will show up. In this function, you can also change the values in each cell, and the changes will be reflected in the sum.

How to Add Cells in Excel: Method 3 (Adding Up Individual Cells In Different Rows and Columns)

The great thing about the addition function in Excel is that you not only get to add rows or columns. You can also add whatever cells you want to. Let’s stay with our survey example. Perhaps you want to examine precisely how many girls prefer math and science. Excel allows you to do this.

Label your first cell to maintain organization in your document. Click the cell next to it to begin your equation. Type the equal (=) sign, followed by all the cells you would like to add together. For example, your equation may look like this:

=C3+C5+C7+C9+D3+D5+D7+D9

Hit the Enter button when you are finished to get your total.

Of course, as we have already learned, it can be a bit tedious and take a while to type all of that. The alternate method would be to click instead of type. In your total cell, type the equal (=) sign. Then, click your first cell. Type the plus (+) sign and click your next cell. Continue this process until you have clicked all the cells you want to add. When you have selected all your cells, hit Enter to get your total.

Using this method allows you to select any cell that contains a numerical value. The values do not have to be in the same row or column or be next to each other. This method also allows you to change information in cells used in your formula. The modified data will automatically update the total to reflect the new numbers.

Conclusion

It was certainly good news to hear that we can add columns of information within our Excel Worksheets. It made life a lot easier and minimized the work we had to do.

Now, we see that we can also add rows as well as individual cells. This guide has expanded what we can do with the addition function. This function could be vital information when it comes to surveys, projects, and organizing business or personal information.

Follow this step by step guide to add cells in Excel using the addition function to its fullest, incorporating rows and cells into your skill set.

excel sumif

How to Use the SUMIF and SUMIFS Functions in Excel

SUMIF and SUMIFS help Excel users to save time and frustration by making it easy to glean valuable information from complex datasets. You can total and analyze everything from grade values to quarterly earnings without giving yourself a massive headache.

In this tutorial, we’re going to cover:

The difference between SUMIF and SUMIFS functions.

How to use SUMIF and SUMIFS.

Common examples of formulas.

The Basics of SUMIF Functions

Most people are familiar with Excel’s SUM function, which allows you to add together highlighted data values in a row or column. The IF function is another favorite tool that lets you see whether or not a particular data point meets a specified condition, including dates, numbers, and text.

SUMIF combines both the SUM and the IF functions to bring you a tool that not only allows you to single out information that meets essential criteria but also to find the sum of qualifying cells. You can choose a single parameter to help you isolate relevant cells, combine the data, and pull totals to gain invaluable insights into the information that you’ve collected.

Using SUMIF Functions

SUMIF functions allow you to sort information based on one criterion, making it easy to pinpoint the data points you need. Like all Excel functions, though, you have to do a little bit of the work as well. To use SUMIF, you need to know how to express just what it is you’re looking for.

It is a worksheet function that requires a specific syntax to yield the best results. The basic syntax for the SUMIF function in Excel is:

SUMIF(range, criteria, [sum_range])

This formula may look a little complicated, especially for those just starting out with Excel, but once you get the hang of it, the function is relatively simple. There are only three different parameters that you have to keep in mind when using the SUMIF function:

Range: The cells that you wish to evaluate. It can be a column, a row, or randomly selected data points.

Criteria: The condition that must be met. Depending on your needs, you may wish to make this either text, a numeric value, or a wildcard value. It can even be another function. Just remember that all text or criteria including math symbols need to be enclosed in double quotation marks (“).

Sum_Range: This parameter is optional, but it can help when dealing with particularly large data sets. It allows you to specify the range of cells you want to sum together. If you leave this element out of the SUMIF function, as many people do, the value will default to your (Range) parameter.

Examples of SUMIF Functions

sumif example

People use SUMIF functions every day in business, education, and in their personal lives. Here are some common formula examples that you might find yourself running across:

Subtotalling by a descriptor such as color: =SUMIF(descriptor_range,criteria,number_range)

Sum of cells that contain specific text: =SUMIF(range,”*text*”,sum_range)

The sum is “less than”: =SUMIF(range,”<1000″) The sum if “greater than”: =SUMIF(range,”>1000″)

The sum if cells are not equal to a specific value: =SUMIF(range,”<>value”,sum_range)

Subtotalling invoices by age: =SUMIF(age,criteria,amount)

Subtotalling by invoice number: =IF(COUNTIF(range,criteria)=1,SUMIF(range,criteria,sum_range,””)

Summing up by group or label: =IF(A2=A1,””,SUMIF(A:A,A2,B:B))

Comparing SUMIF and SUMIFS

While the SUMIF formula allows you to differentiate between data based on a single criterion, SUMIFS will enable you to specify multiple parameters. This tool is a relatively recent development from Microsoft that only hit the markets in 2007, meaning that it’s only available in Excel 2007 or higher. With SUMIFS, you can evaluate up to 127 criteria at once instead of just one. The function offers a much more powerful tool to categorize and analyze data.

When to Use SUMIFS Functions

SUMIF functions let you break down information based on a single differentiating factor, but that isn’t always enough. Sometimes you need to narrow data down further to analyze it, and that’s where SUMIFS comes in. You can use comparison operators like equals, less than, greater than, less than or equal to in relation to other values to gain practical insights into the real world. The basic syntax for any SUMIFS function is:

SUMIFS(sum_range, criteria_range1, criteria1, [criteria_range2, criteria2], …)

Unlike the SUMIF function, you’re required to input “[sum_range]” for SUMIFS. There are also other important parameters to define, including:

Sum_Range: The range of cells you wish to input and analyze. This field replaces the Range field used in SUMIF functions.

Criteria_Range1: This value is paired with Criteria1 to specify the range of cells to be searched.

Criteria 1: This defines the criteria that will be applied to cells in Criteria_range1. You can use text, numeric values, other cells, and even qualifying commands such as greater or less than. Any non-numeric criteria need to be enclosed in double quotes.

Criteria_range(#), Criteria(#): You can add up to 127 different criteria and range pairings onto the formula as needed.

Examples of SUMIFS Functions

using sumifs excel

Although SUMIFS is relatively new, it’s become common to see on both business and personal spreadsheets. SUMIFS formulas give users more precision and power when analyzing data sets. Here are some of the more common formulas that you might encounter:

Sum by week number: =SUMIFS(sum_range,weekrange,week)

The subtotal falling between two dates: =SUMIFS(amount,start_date,”>”&A1,end_date,”<“&B1) The sum of sales based on ID and time frame: =SUMIFS(amounts,dates,”>=”&TODAY()-30,ids,id)

Conclusion

Excel is an invaluable tool when it comes to data analysis. Functions such as SUMIF and SUMIFS make it easy to break down information by allowing you to subtotal data based on essential criteria.

We hope that this tutorial has helped you further down the path towards becoming an Excel master. The next time that you have to subtotal data don’t forget to take advantage of the SUMIF and SUMIFS functions.

Related Posts Plugin for WordPress, Blogger...