Excel is a powerful platform for business modeling: Change inputs A, B, and C and note the impact to output D. But what if there are specific combinations of inputs that you'd like to quickly access without manually changing multiple cells? In this tip, we'll use Excel's Scenario Manager to define several pre-set combinations of input values (Percent Down, Interest Rate, and Term Length), and see how each "scenario" impacts the model output?
- [Instructor] Alright, let's take a few minutes … and talk about Excel's Scenario Manager tool. … Specifically, how this tool can be used … to quickly compare different model outputs. … The Scenario Manager, … which you'll find in your data tab, … under the what if analysis options, … essentially allows you to save and quickly access … specific combinations of preset cell values. … Let me show you an example here. … If we drill into that Scenario Manager option, … we'll see a list of any predefined scenarios … that we've created. … In this case, … I have four. … And what happens … when you add or create a new scenario from scratch, … you're basically telling Excel … I want to define a scenario based on this specific … set of cells, … in this case I have three of them. … I've named one cell percent down. … I've named a second cell interest rate. … And a third cell term length. … Now a quick tip here. … You don't have to give your cells names. … This could just say h7, h8, h9. … I find that naming those cells …
- Use the Analysis ToolPak to explore data.
- Interpret the effect of a fence when using outlier detection.
- Explain data modeling basics in Excel.
- Use CUBE functions to explore data models.
- Use Monte Carlo simulations to predict outcome probability.
- Recognize the actions Solver does to optimize complex data models.