Home > Goal Seek > Reaching Your Goals With MS Excel – The Goal Seek Command

Reaching Your Goals With MS Excel – The Goal Seek Command

There are many commands in Excel and depending on what you use MS Excel for you may or may not need to learn all of them. The Goal Seek command is one we find is very useful. Normally when we price our products we simply set a base price and then add the sales tax based on the tax rate. What if we want to set the price including sales tax to be a specific number? Goal Seek is a great way to do this. An even more useful application of this command comes into play when we are analyzing our Sales goals. We sell certain products, we know what our costs are and we think we have nailed down the price we want to sell it at. Well now it’s time to look at some scenarios. Specifically based on the current set of assumptions, how many do we have to sell to generate the desired total dollar profit? The “desired” part is where the goal seek command comes in. We can use it to tell excel to change the quantity sold in order to force the profit to be equal to our “goal”. Get it? Hopefully the video tutorial will make it more obvious. We can look at the product information in different forms in terms of how things are calculated so that we can use the Goal Seen Command in different ways. This web cast will demonstrate how this works.

The Key components you have to understand in order to use the goal seek command are as follow. You are going to set the value of a formula based cell to a specified amount by changing a cell who’s value the formula based cell depends on. In other words in the sales tax example. I am going to change the total selling price including tax to equal some number by changing the base amount.

Finally in this web case we will demonstrate our powerful scenario based margin calculator which enables you to get around the Goal seek command (in other words we’ve done the work for you) so that you can calculate your product prices in various scenarios without having to know this command at all.

Description:

Symbol To Look For:

Video Tutorial:

File Download:

The File Download is the excel file we use to demonstrate the Goal Seek Command

If you are interested in the Profit Margin Scenario Calculator it is currently $65 in our learning center

 

 

 

 

 

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Categories: Goal Seek
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