Tag Archives: how to guide

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 subtract in excel

How to Subtract in Excel

Learn how to subtract in Excel with this valuable how-to guide. This article will walk you through each step of the process from start to finish.

Excel is a powerful program that makes organizing numbers and data easy for anyone. But, learning how to perform even simple functions can be a bit tricky when first starting out. Excel can perform many different functions and one of the most basic is subtraction. Below you will find a complete guide on how to subtract in Excel.

We don’t know why Microsoft didn’t make it but there is no subtract function in Excel. You don’t need to stress though. There are several helpful (and fairly simple) ways to perform this task on your own. Are you ready to improve your Excel skills? Learning new software methods, tips, and tricks is always helpful to have under your toolbelt. In this article, we have important points to remember, various types of Excel subtraction, methods for subtraction with two or more cells in Excel, and more. Read on to learn more.

how to subtract in excel

Important Points to Remember

Different Types of Excel Subtraction

As mentioned above, Excel can subtract numbers in a single cell or within a range of cells. Both operations are simple to perform and only a little different from one another.

Below, we will talk about the different ways to subtract in Excel and give you some examples.

To get the most out of the information below, keep these terms in mind while reading:

  • Worksheet: an electronic document made up of rows and columns that can contain data
  • Cell: the intersection of a row and a column on a worksheet
  • Formula: the instructions entered into a cell to produce a specific result
  • Function: a built-in formula used in Excel

Subtracting with Simple Numbers

For simple math problems, you can use a single cell to calculate subtraction problems. As an example, we’ll use the problem 5 – 4 = 1. This problem is simple, but you can apply the same concept to larger numbers and more complex data.

To begin, use your cursor to select an empty cell on the worksheet. Once you select the cell, begin to type your formula.

In Excel, all formulas start with an equal sign (=). After you’ve typed the equal sign, type the numbers you’re subtracting separated by the minus sign (-). In this case, your cell would contain the characters “=5-4.”

Once you have entered the numbers you’d like to subtract, hit the “Enter” key.

Hitting the “Enter” key tells Excel that you are ready to execute your formula. The data in the cell will transform from the formula you entered to the solution of that formula. The example cell would now read “1” instead of “=5-4.”

Subtraction Using Two or More Unique Cells

In Excel, every cell has a “name” made by combining its column letter with its row number.

This is the cell reference. For example, the cell created where column A intersects row 1 is cell A1. You can use cell references in formulas to execute various operations including subtraction.

Like before, this type of subtraction begins by selecting an empty cell.

Follow the same steps, but, instead of entering numbers, enter specific cell references. For example, if you’d like to subtract the quantity in cell A1 from the quantity in cell B1, your formula would read “=B1-A1.”

Instead of typing in a cell, you can also type formulas into the formula bar found at the top of the worksheet. You can also select cells with your cursor after starting your formula instead of typing them out.

How to Subtract Using the SUM Function

As mentioned earlier, functions are Excel’s built-in formulas. A variety of functions are available in Excel. When subtracting in excel, the SUM function is most useful.

Although addition and subtraction are often thought of as opposites they are, in fact, one and the same.

While we may not think about it, subtracting a number is the same as adding a negative number. Excel does not have a SUBTRACTION function but instead relies upon its built-in SUM function.

Excel’s SUM function can use individual numbers, cell references, or a range of cells.

To subtract numbers using the SUM function, make the number you want to subtract a negative value. For example, we’ll say that cell A1 contains the number 5 and cell A2 contains the number 3. You can use the SUM function in an empty cell to subtract 3 from 5.

First, make the number you want to subtract negative by adding a minus sign (-) to it. In this example, we are subtracting 3 from 5 so we will add the minus sign (-) to the 3 in cell A2 making it -3.

To use the SUM function, enter an equal sign into an empty cell followed by the word SUM.

The equal sign tells Excel that you will be using a formula. The word SUM specifies the function you want to use. In parentheses after the word SUM, press enter for the numbers, cell references, or range of cells in Excel you want to sum.

how to subtract in excel by first using the SUM function

For the example given above, your SUM function would look like one of the following:

  • If you used individual numbers, “=SUM(5,-3)”
  • For using cell references, “=SUM(A1, A2)”
  • If you selected a range of cells, “=SUM(A1: A2)”

In Excel, you can also use the AutoSUM wizard by clicking on the “Formulas” tab and then choosing AutoSUM. Always switch the values you are subtracting to negative when using the SUM function.

How To Subtract In Excel: Final Review

As you can see, there are several different methods for how to subtract in Excel. Depending upon the type of data you are dealing with, some of these methods will work better than others. You can use each method to subtract numbers both large and small and organize large amounts of data. Learning how to subtract in Excel is a quick and simple process that anyone can master.

With a small amount of patience, you can apply these concepts to any worksheet you come across. Subtraction may seem like an insignificant skill to gain, but it is a step towards harnessing the full power of Excel. Do you want to know more about Excel’s Intermediate features? If yes, then click here.

Related Posts Plugin for WordPress, Blogger...