Excel Solver example and step-by-step explanation

Excel’s Solver tool is an optimization package. It finds the optimal solution to a problem by changing multiple variables.

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It can solve for more complex “what-if-analysis” which Goal Seek can’t. Goal seek is restricted to changing one variable, whereas with solver you can have many variables.

Calling Solver an “advanced goal seek” doesn’t do it any justice. Solver can handle complex data models and solve for the optimal solution. But; it can also easily solve for the more simpler problems that we might face at work.

In this video, I show you two examples:
1 – How to set income to a specific value by changing prices which adding constraints for the price and also full rounded number for units sold.
2. Distribute the remaining budget dollars among your different projects based on certain cost constraints.

Goal seek Video:

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