#Data analysis excel addin how to#
#Data analysis excel addin tv#

Provide the Goal Cell, Value and the Changing CellДЇor our example the Goal is our Product demand, and our Changing Cell will be the Marketing Spend on TV ads: Go to the DATA ribbon tab, click What If Analysis and then select Goal Seek. Our Product demand (just for TV ads) looks as so if we ignore the Internet ads: LetвЂ™s reuse our above example вЂ“ letвЂ™s say we are aware that our TV ads function is a parabolic or a polynomial at least and we want to quickly locate some of itвЂ™s 0 values.

Doing a quick check if a single parameter can help achieve a specific value for a formula (e.g.

Solving single (changing) parameter mathematical functions (seeking a specific value e.g.

Goal Seek is SolverвЂ™s younger (less developed) brother. So in short вЂ“ you should use Goal Seek if you have a function which characteristics are unknown or hard to figure out.

The вЂњgoalвЂќ is an amount returned by a formula. Goal Seek calculates the values necessary to achieve a specific goal. We will work through this example using different tools below. Notice that in this example on purpose I created the formula as such so that it is not directly obvious (unless you work out the formula maximum) what is the best mix of TV and Internet ads. In my case it is just the Product demand cell: Specify the Result Cells вЂ“ cells which will be modified in result to your Scenario. to generate a neat worksheet with a summary of your Scenarios. You need to Name and specify the Changing Values for each Scenario separately. Next provide values as appropriate to your Scenario: Specify the Scenario details вЂ“ especially the range of Changing Cells that are to be specified by the scenario: To add our scenarios go to the DATA ribbon tab, click What If Analysis and then select Scenario Manager.

100% Internet spend вЂ“ 500k$ spent on Internet ads.

50% TV and Internet spend вЂ“ 250k$ spent both on TV and Internet ads.

Using the example mentioned above letвЂ™s use the Scenario Manager to create 3 separate scenarios: the more you spend the more Product demand you generate

Internet ads have a linear impact on Product demand i.e.

at first the more you spend the more Product demand you generate, until you reach a peak where Product demand will actually fall (maybe viewers are tired of their favorite programs being bombarded by your ads).

TV ads have a parabolic impact (see below) on Product demand i.e.

What is more, for the sake of the example letвЂ™s assume: Our example assumes there is a 500k$ Marketing Budget to spend on a Marketing Campaign which can consist of spending on Internet and/or TV ads.

LetвЂ™s explore these tools (apart from the last one) on a simple problem case example.

Scenario Manager вЂ“ the scenario manager allows you to add several scenarios to a certain problem and then generate a summary comparing how the scenario values impact a selected cell value.

The What If Analysis button in the DATA ribbon tab facilitates generally two useful features: PivotTables are great for exploring data sets and for visualizing data with the help of automatically generated PivotCharts. PivotTables are so versatile a tool that most often no other Data Analysis Tool is needed.

#Data analysis excel addin how to#

See below for a quick look at how to use the Sort and Filter feature in Excel on an example data set: LetвЂ™s kick off with the Sort & Filter group. I am not focusing on simple data transformation features like removing duplicates, however, I do encourage that you learn more on these non-mentioned features. In this post I am focusing just on features that allow you to explore data or solve certain analytical problems. Skip to the relevant section of this post to read more. Some of them are AddIn that are installed by default along with MS Office, however, need to be activated manually. The DATA ribbon tabДЄs some of you already have noticed MOST (except for the PivotTable for no good reason) of the tools described in this post focus on features available BY DEFAULT within the Excel DATA ribbon tab (see image below). Be sure to read through the Other Tools section below for other honorable mentions. I mean to explore the basics, as well as the more advanced Data Analysis Excel Tools. Excel is most appreciated for itвЂ™s ease of use as a Data Analysis Tool.