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why is index match superior to vlookup?
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why is index match superior to vlookup?
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I use Goal Seek within the What-If Analysis almost every day, and I use Data Tables often as well. Yes, you can do these by hand, but in my experience this functionality has considerable reduced the amount of time spent on various analyses.
Subject Expert
As always, it depends.
- are you a politician or a US senate analyst? Naah
- are you a consultant that works with market analysis, either financial or strategic? Maybe*
- are you an excel developer? Yes
* What-if analysis can be done, relatively easy, by hand
The goal seek function is super useful https://m.youtube.com/watch?v=2sNOBp0O1ks
It depends, what are you trying to do. The data and target predicts what’s important.
The revenue a company generates is a function of price and volume. Without constraints, the revenue a company can generate is infinite. However, once constraints are considered (such as machine hours, people hours, or supply/demand considerations) an optimum can be identified that maximizes revenue given the constraints. Similarly, we could have an objective to maximize profit (or minimize costs) subject to constraints.
What-If Analysis uses constraints to set a target cell to some objective. The constraints, target cell, and objectives are set within the Analysis window. Goal Seek is a type of What-If Analysis where a target cell is set to some user-identified number by changing a single user-identified cell. Goal Seek only allows the user to set three variables whereas What-If Analysis can have many constraints. Goal Seek is helpful to quickly determine breakeven.
Hope this helps.