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In "What-If" analysis, Excel offers two main tools: Goal Seek and Solver. Here’s a brief comparison and why Solver might be preferable in certain scenarios.

🔸Goal Seek:

🔹Purpose:
▪️ Find the input needed to achieve a specific target for a formula.

🔹Functionality:

▪️Simple Problems:Adjusts a single variable to reach a desired outcome.

🔸Example Use Case:

▪️Determining the interest rate to meet a target loan payment.
🔹Limitations:

▪️Handles only one variable and simple, linear relationships.

🔸Solver
🔹Purpose:
Handle complex optimization problems with multiple variables.

🔹Functionality:
▪️Complex Problems: Adjusts multiple variables simultaneously.
▪️Constraints:Allows setting constraints on variables.
▪️Optimization: Maximizes or minimizes a function.

🔹Example Use Case:
Optimizing the mix of products to maximize profit given resource constraints.

🔹Advantages:
Handles nonlinear relationships and multiple constraints.
Suitable for multifaceted problems.

🔸When to Use Solver Instead of Goal Seek
▪️Multiple Variables: When adjusting more than one input.
▪️ Constraints: When there are variable constraints.
▪️ Optimization:When optimizing an outcome.
▪️Complexity: For complex, nonlinear problems.

🔸How to Use Solver
1. Set the Objective: Define the cell with the formula to optimize.
2. Define Variable Cells: Specify the cells Solver can change.
3. Add Constraints:** Set any necessary constraints.
4. Solve the Problem: Run Solver and analyze results.

🔸 Example Using Solver:
To optimize production for three products:
1. Objective:Maximize profit.
2. Variables: Number of units for each product.
3. Constraints: Labor hours and raw materials.

🔸Conclusion
While Goal Seek is great for simple, single-variable problems, Solver is the go-to tool for more complex scenarios requiring multi-variable optimization and constraint handling. By using Solver, you can tackle a wide range of problems more effectively in your "What-If" analysis. If you haven't learn what if analysis then you can learn it from my previous video