how to use microsoft excel data analysis toolpak

You can use the Scenario Manager to create both scenarios on the same worksheet, and then switch between them. You can create and save different groups of values on a worksheet and then switch to any of these new scenarios to view different results.įor example, suppose you have two budget scenarios: a worst case and a best case. You can also create forecasts by using the fill handle and various commands that are built into Excel.įor more advanced models, you can use the Analysis ToolPak add-in.Ī Scenario is a set of values that Excel saves and can substitute automatically in cells on a worksheet. The Solver add-in is similar to Goal Seek, but it can accommodate more variables. In addition to these three tools, you can install add-ins that help you perform What-If Analysis, such as the Solver add-in. Goal Seek works differently from Scenarios and Data Tables in that it takes a result and determines possible input values that produce that result. A Scenario can have multiple variables, but it can only accommodate up to 32 values. A Data Table works with only one or two variables, but it can accept many different values for those variables. Scenarios and Data tables take sets of input values and determine possible results. Three kinds of What-If Analysis tools come with Excel: Scenarios, Goal Seek, and Data Tables. What-If Analysis is the process of changing the values in cells to see how those changes will affect the outcome of formulas on the worksheet.

How to use microsoft excel data analysis toolpak