From the course: Excel for Business Analysts

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Business strategy and business analytics

Business strategy and business analytics - Microsoft Excel Tutorial

From the course: Excel for Business Analysts

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Business strategy and business analytics

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- [Instructor] One key aspect of business analytics involves optimization. From pricing specialists to marketing analysts. A lot of business analytics comes down to trying to help a business to figure out, exactly how they should tailor some aspect of their operation. Let's take a look at an example. I'm in the zero four zero eight begin, Excel sheet. So we've got a firm here and the firm has five months of history or excuse me six months of history, I suppose, through the end of 2020. They're trying to make a forecast about what their revenues and their user count is going to be throughout 2021. In particular, the firms trying to figure out how much they should spend on marketing over time in order to optimize their business or to minimize their future losses, right? So how can we do this? Well, Excel has a great tool to help us and that's called solver. So if we come over to the data tab, as part of the analysis…

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