ANALYSE DATA USING SCENARIO AND GOAL SEEK

I. Data Analysis Overview

  • Definition: The process of extracting useful information to make effective decisions.
  • Purpose: Spreadsheet software like Calc is used to retrieve, explore, and visualize data to identify patterns, trends, and relationships.

II. Consolidating Data

  • Function: Combines information from multiple sheets into one place to summarize it.
  • Purpose: Allows viewing and comparing variety of data in a single sheet to identify trends.
  • Key Requirements:
    • Data types in sheets must match.
    • Labels must match across all sheets.
    • The first column should be the primary column for consolidation.
  • Menu Path: Data > Consolidate.
  • Default Function: Sum (others like Average, Max, and Min are also available).
  • Link to Source Data: If checked, the target sheet updates automatically when changes are made to source data.

III. Groups and Subtotals

  • Group and Outline: Used to create an outline of selected data, allowing you to hide (-) or show (+) rows or columns with a single click.
  • Subtotal Tool: Automatically creates groups and applies functions (like sum or average) to them.
  • Menu Path: Data > Subtotals.
  • Key Feature: You can have multiple levels of grouping using the 2nd Group and 3rd Group tabs.
  • Removing Outlines: Use Data > Group and Outline > Remove Outline.

IV. What-if Scenarios

  • Definition: A named set of values that can be used within spreadsheet calculations.
  • Purpose: To explore and compare various alternatives based on changing conditions (e.g., predicting how different loan amounts affect monthly EMI).
  • Menu Path: Tools > Scenarios.
  • Navigation: You can switch between created scenarios using the Navigator icon in the toolbar.

V. What-if Analysis (Multiple Operations)

  • Definition: A planning tool for what-if questions that uses Data > Multiple Operations.
  • How it Works: It uses a formula array to display a list of results based on different input values.
  • Structure: It requires two arrays: one for input values and another that uses a formula to display the output results.
  • Benefit: Unlike standard scenarios, this tool can display results for a whole series of alternative values at once (e.g., showing profit for several different annual sale amounts).

VI. Goal Seek

  • Definition: A tool used for backward calculation to find the input needed for a specific output.
  • Purpose: Useful when you know the desired result but don’t know the input value required to achieve it (e.g., finding what marks a student needs in a final exam to reach a specific aggregate average).
  • Menu Path: Tools > Goal Seek.
  • Key Fields in Dialog Box:
    • Formula cell: The cell containing the calculation.
    • Target value: The specific result you want to achieve.
    • Variable cell: The cell that needs to be changed to reach the target.
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