In this tutorial let us see How To Use Goal Seek In Excel What-If Analysis
Goal Seek or What if Analysis is a built-in Excel feature that allows you to see how one data item in a formula impacts another.
It’s useful to answer “what if” type questions because you can adjust one cell entry to see the result.
This feature is often used in finance, sales, HR and forecasting scenarios.
Let us consider an example like this
This is the result of the ongoing elections between three parties and the condition to win elections is that the party winning 2/3 of votes share i.e.67% of votes, will win the elections. And let us try for party1 to win elections.
So, now to decide how many votes are required out of polled votes, you need to use the goal seek feature so that we can change the value of one variable and see how the results change.
Let us apply the Goal seek now
1. Go to the data tab in the menu bar, click on what-if analysis and select Goal seek feature
2. In the set cell field, click the cell you want to change i.e., C6
3. In the To value, enter the new “what if” amount i.e 67%, which is nothing but 2/3 proportion
4. We also need to tell Excel which cell to change. Since we wanted to know the number of votes for party1, we’ll select B6 cell.
5. Click OK. Excel will now overwrite the previous cell value 5300 with the new one 11720 votes
6. If you wish to accept the new value, click OK.
So in this way, you can find out how many votes are required to fetch the 67% of the vote share of the total votes that are getting polled
So, friends, this is all about How To Use Goal Seek of What-If Analysis In Excel
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