Goal Seek is a very useful function in Excel which is used to determine a value which will produce a target figure in a calculation. In this example we have a spreadsheet of salaries and which have been awarded a 5% annual increase. The total increase for all salaries is £7,516, however we only have a budget for £6,200. Here is how we would solve the problem with Goal Seek:
- First download the Excel spreadsheet Salary Increases.
- Next click the Data tab on the Ribbon, then click What If Analysis and select Goal Seek.
- In the Goal Seek dialogue box enter D11 in the Set Cell field.
- In the To Value field type the value 6200.
- For the By changing cell field enter cell reference B3.
- Finally click OK and Goal Seek will calculate the correct salary percentage increase to meet the budget of £6200.
This is a very simple Excel tool, but one which can save a lot of time. We cover this and many other time-saving topics on our Microsoft Excel 1 day courses. We specialise in on-site training and can deliver Foundation, Intermediate and Advanced levels of Excel at your own offices anywhere in the UK. For more information email email@example.com or call free on 0800 2922842.