Now we can enter any value in F1 as our target profit amount, then use the macro shortcut key to run the macro in one click. For more Goal Seek examples and how to use the Scenario Manager tool, check out our resource on what if analysis.
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Claudia Buckley Claudia is a content writer and course instructor at GoSkills. No comments Login Sign up. Give feedback How is your GoSkills experience? Your feedback has been sent Thank you. Skills for career advancement. On the Home tab, in the Number group, click Percentage.
Click Increase Decimal or Decrease Decimal to set the number of decimal places. If you want to accept more than one input value, for example, both the loan amount and the monthly payment amount for a loan, use the Solver add-in. Finally, format the target cell B3 so that it displays the result as a percentage.
Follow one of these steps:. Need more help? Expand your skills. Get new features first. Was this information helpful? Yes No. Thank you! Any more feedback? The more you tell us the more we can help. Can you help us improve? Resolved my issue. Clear instructions. Easy to follow. No jargon. Pictures helped. You know the amount you need, you know how many months you want to pay it back, and you know the amount you can afford to pay back each month.
You can use Goal Seek to determine the interest rate you need to secure in order to stay within your monthly budget. So, we know the desired outcome, and we have all of the data except one value: Q4. Based on the data we currently have, we can use the Goal Seek function to determine what the net profit of Q4 needs to be in order to achieve the set goal.
Before we go further, there are a few basic Excel functions that we are using in this example. Do this for rows 3, 4, and 5, as well. Now that those basic Excel functions are in place, we can use Goal Seek to determine what we need to close Q4 with to meet our annual goal.
This is the cell that we want to change to our desired goal. Once selected, a box will appear around the cell and the respective row number and column letter will be highlighted in gray. Next, click the Data tab, click the What-If Analysis option in the Forecast group, and then click the Goal Seek option from the drop-down menu.
Enter the required information and then click OK. Excel will start analyzing the data and spit out the number required in B5 to meet the desired goal.
Using the Goal Seek function is essential when you need to determine the input value required to achieve your goal.
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