Cool ways to use goal seek excel update#
Cool ways to use goal seek excel manual#

The recorded code should look like the following: Sub Macro1() Click Developer -> Visual Basic, to open the Visual Basic Editor, then look at the code in Module 1. LetвЂ™s take a brief look at the recorded code.

Cool ways to use goal seek excel manual#

Undertake the same steps as the manual version we used above.

In the Record Macro dialog, accept the default option by clicking OK.

In this scenario, the Macro Recorder will be a solid starting point.

Then, anytime the variables change, it will just take one click to re-run the Goal Seek. Next, we will create a one-click solution using a macro and attached to a button. LetвЂ™s move on to look at a more dynamic solution. ItвЂ™s quite a time-consuming process, plus if you are designing the spreadsheet for somebody else, then itвЂ™s not great user experience. If one of the variables were to change (e.g., if the sales price increased to 110), then we would need to rerun the same Goal Seek process. If youвЂ™re following along with the example file, you will see that we need to sell 571 units to break-even. Click OK again to close the Goal Seek dialog box.

Cool ways to use goal seek excel update#

Excel will now try to identify a possible solution and update cell E12 accordingly.

In the Goal Seek window, set the following parameters:.

Click Data вЂ“ > What If Analysis -> Goal SeekвЂ¦ to open the Goal Seek tool.

Using the numbers above, letвЂ™s assume we want to find out how many units we would need to sell to break-even. The grey cells are the variables, if any of the variables change, the final profit changes. Based on the sales units, sales price, cost price and fixed costs, we calculate a profit.

The scenario weвЂ™re using is a simple business case. The Goal Seek feature determines the input required to achieve a specific outcome. Then youвЂ™ll be able to work along with examples and see the solution in action, plus the file will be useful for future reference.Дownload the file: 0022 Automated Goal Seek.zip I recommend you download the example file for this post. WouldnвЂ™t it be great if we could make it work with a single click, or maybe automate it completely? WellвЂ¦ guess what, thatвЂ™s exactly what weвЂ™re going to do. ItвЂ™s hidden away in the Data menu so you need to know itвЂ™s there to find it. While probably one of the best features in Excel, Goal Seek is quite clunky to use. IвЂ™ve not used the technique extensively to date, but it seems to be a useful approach. This got my mind buzzing with ideas, so I wanted to share it with you, along with a few of my own developments. I recently attended an online meetup where Danielle Stein Fairhurst shared a technique involving ExcelвЂ™s Goal Seek feature operated by a macro.