Data analysis is the process of organizing, examining, and summarizing data to extract useful information. It can be used by various roles like sales managers and scientists to gain insights from raw data through techniques like trend analysis and experimental findings. Microsoft Excel provides tools for data analysis including what-if analysis features like scenarios, goal seek, solver, and data tables that allow users to evaluate how changes to input values affect outcomes. For example, scenarios can model different percentages of items sold at various price points to compare total revenue under each scenario.

1. Data Analysis
Data Analysis is the application of tools and techniques to organize, study, reach conclusions and sometimes also
make predictions about a specific collection of information. (Paul McFedries, Excel Pivot Table & Pivot Charts)
Different kinds of people including Sales Managers, Scientists, Family Members, etc. may use data analysis to get the
necessary information beginning from trend determination through studying experimental findings to making
retirement plans.
Raw Data is the necessary item that is needed in Data Analysis.
Microsoft Excel offers a number of tools to meet the most demanding needs regarding Data Analysis.
What – If Analysis
What-If Analysis is the process of changing the values in cells to see how those changes will affect the outcome of
formulas on the worksheet. Four kinds of What-If Analysis tools come with Excel: Scenarios, Goal Seek, Solver, and
Data Tables. Scenarios and Data tables take sets of input values and determine possible results.
(https://support.office.com/en-us/article/introduction-to-what-if-analysis-22bffa5f-e891-4acc-bf7a-e4645c446fb4

2. Scenarios: It is a collection of input values that are placed in formulas to get a result.
Goal Seek: It is used to find desired result by changing an input value.
Solver: It is used to find optimal solutions for all kind of decision issues.
Data Table: It is a range of cells where one column consists of a series of values, called input cells (
Let’s have a look at Examples:
Scenarios:
Let’s imagine that different percentage of sold items quantities have been sold at highest price and make scenarios
for these percentages including 60%, 70% and 80%.

3. Stores
1-Oct
2-Oct
3-Oct
4-Oct
5-Oct
6-Oct
7-Oct
Total
Store P 437 94 531 Higest Price Mid Price
Lowest
Price
Store E 56 29 49 46 49 70 43 342 % of sold idems 60% 22% 18%
Store H 52 35 42 52 60 28 18 287
Store C 36 46 38 29 55 58 22 284
Store G 14 56 28 23 55 32 31 239
Store I 22 23 13 30 62 53 29 232 Unit Profit
Number of Sold
Items
Store K 25 26 26 24 40 35 36 212 Higest Price 55 ₼ 60%
Store F 14 17 43 17 41 41 17 190 Mid Price 39 ₼ 22%
Store J 18 17 9 19 31 23 31 148 Lowest Price 25 ₼ 18%
Store A 22 20 19 29 33 11 12 146
Store M 23 13 18 13 17 27 11 122
Store D 16 19 15 7 19 13 33 122 Total Revenue 144,414.72 ₼
Store N 14 10 17 16 24 20 17 118
Store B 13 6 7 13 15 3 10 67
Store L 5 4 12 6 8 5 6 46
Store O 4 8 13 3 1 6 35
Store Q 1 2 4 3 3 13
Total 771 330 351 425 510 422 325 3,134

4. 1. On the Data tab, in the Forecast group, click What-If Analysis
2. Click Scenario Manager
3. Add a scenario by clicking on Add

5. 4. Type a name (80% highest), select cell L3 (% sold for the highest price) for the Changing cells and click on OK

6. 5. Enter the corresponding value 0.8 and click on OK again
6. Next, add 2 other scenarios (70% and 60%)

7. Finally, your Scenario Manager should be consistent with the picture below:
Note: To see the result of a scenario, select the scenario and click on the Show button. Excel will change the value of
cell L3 accordingly for you to see the corresponding result on the sheet.
Scenario Summary
To easily compare the results of these scenarios, execute the following steps

8. 1. Click the Summary button in the Scenario Manager
2. Next, select cell L13 (Total Revenue) for the result cell and click on OK
Result:

9. Conclusion: if you sell 80% for the highest price, you obtain a total revenue of 158 392.36 AZN, if you sell 70% for
the mid price, you obtain a total revenue of 151 403.54 AZN, and if you sell 60% for the lowest price you obtain a total
revenue 144 414.72 AZN. Here We Excel with what-if analysis (Scenarios) in Excel.
To be continued…