Goal seeking, also known as target search, is the process of determining the input value that produces a desired output. This function is commonly used in computer programs like Microsoft Excel and is a crucial aspect of what-if analysis and backward solving.
You can attempt goal seeking by either trial and error or logical means. Fortunately, most modern spreadsheet packages offer basic target search functions.
Optimization analysis is a more complex extension of goal seeking. Rather than setting a specific target value for a variable, the goal is to find the optimal value for one or more target variables given certain constraints. This is achieved by repeatedly changing one or more other variables, subject to the given constraints, until the best values for the target variables are found.
Overall, goal seeking is a useful tool for determining the most efficient course of action and making informed decisions in various fields.
FAQ
What is goal seeking?
Goal seeking is the process of determining the input value that produces a desired output.
What is optimization analysis?
Optimization analysis is a more complex extension of goal seeking. Rather than setting a specific target value for a variable, the goal is to find the optimal value for one or more target variables given certain constraints.
Final Thoughts
Whether you’re using goal seeking in Microsoft Excel or another computer program, it’s important to remember that this process can save you time and help you make more informed decisions. By determining the most efficient course of action, you can optimize your results and achieve your goals more effectively.
