Strategic Decision-Making with Scenario Analysis in Excel

6.6 min read|Last Updated: July 16th, 2024|Categories: Excel|
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Have you ever wondered how it is possible to analyze your data based on different scenarios? For example, what may happen if you increase the budget of your marketing programs by 50 percent? What if it is less than that amount? What if it’s more? So, here you may have different scenarios to check. How is it possible? Scenario analysis Excel is the tool that can help you see the results of such schemes.

What is scenario analysis Excel?

When it comes to using scenario analysis in Excel, we first need to know what a scenario is and how it’s used. A scenario is a set of different values in Excel that you create and save to see results based on each of them. You can have up to 32 different values for each scenario, and whenever one value changes, the result will automatically change based on that. That’s the power of the What-If Analysis tool, which is accessible from the Data tab on Excel.

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