Site icon Tiller

Use Goal Seek in Google Sheets to Model Future Financial Outcomes

Google Cloud has just released a new Goal Seek add-on for Google Sheets.

Goal Seek is a powerful tool for calculating the required value of a cell to achieve a desired formula value in another cell. It’s commonly used to determine targets when modeling future outcomes.

For example, Goal Seek can be used to:

According to Google, “You can use the Goal Seek add-on to calculate the required value of a cell to achieve a desired value in another cell. This is particularly useful when conducting break-even analysis or sensitivity calculations, like determining how changing one value affects other correlated values in your sheet.”

Ben Collins describes Goal Seek in a very useful tutorial on his blog:

“It’s a tremendously powerful and useful technique in data analysis. It’s a process where you set an output you want to achieve (e.g. break-even, sell 10k units, save $1m) and let the computer find the input value that will get you there (e.g. 500 attendees, $100k capital lump sum, save $8k/year)

BenLCollins.com

How are you using Goal Seek in Google Sheets?

Have questions about how to use Goal Seek with your Tiller Money spreadsheets? Or do you want to share how you’re using Goal Seek to model your financial goals? We’d love to hear from you over in the Tiller Money Community.

Read more:

Exit mobile version