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Unveiling the Potential of Excel's Goal Seek Function: Business Applications and Examples
Microsoft Excel, for decades, has been a powerful tool in the arsenal of business and data professionals. Among its multitude of functions and features, one particularly compelling tool is Goal Seek. Primarily used for decision making and problem solving, Goal Seek is the hidden gem that every business should master. ## What is Goal Seek? Goal Seek is an Excel function that allows you to find the necessary input value to attain a desired output. It's an excellent tool when you know the desired result, but are unsure about the inputs required to achieve it. For instance, if you want to reach a specific profit level but are uncertain how much sales volume is required, Goal Seek can provide the answer. ## How to Use Goal Seek in Excel To access Goal Seek, navigate to the 'Data' tab in Excel and select 'What-If Analysis' under the 'Forecast' group. Then select 'Goal Seek'. You'll then need to fill out three fields: 1. **Set Cell:** The cell you want ...
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