Tip #15: Stop guessing and start estimating with Zoho Sheet's Goal Seek
Goal Seek is an ideal spreadsheet tool for devising estimates, as it helps you retrieve your desired output value when the input values are not known. In other words, Goal Seek does back-solving to find input values once you've provided an output value. Let's see how Goal Seek can help you prepare business estimates in Zoho Sheet.
Goal Seek: A smart tool to create estimates
Goal Seek is a simple yet intelligent tool that lets you specify the result you wish to obtain and tailors input data accordingly. All you need to have before preparing your estimate is a set of data derived from any formula.
Assume the monthly payment on a $150,000 business loan, with an interest rate of 4% for two years (split into 24 months/terms), is $9,838. Assume your business can only afford $7,000 per month, and you wish to find the amount you can borrow.
In the below example, we'll use the PMT() function to find the monthly installment for the given loan amount, interest rate, and number of terms. With the use of Goal Seek, you can determine a loan amount that allows for $7,000 installments each month.
Here's yet another scenario where Goal Seek helps you estimate the revenue to get $50 as the final payout.
Note: The value in the target cell should be based on a formula to get the desired result.
To explore more tips, check out our Tips and Tricks forum. Follow our community to get the latest updates and to participate in discussions with other users.
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Tip #18: 6 Trendlines and when to use them in your spreadsheet data?
Charts are a great tool for visualizing and interpreting large chunks of data in spreadsheets. Zoho Sheet offers you 35+ chart options, along with AI-powered chart recommendations based on the data set you select. There are various chart elements thatTip #16: Ask Zia your data-related questions and get powerful insights
Zoho Sheet provides a variety of tools and functionalities to help you analyze your data from end to end. But what if you could analyze all your data sets with a single AI-powered tool? Meet Zia, our smart virtual assistant who will answer all your data-relatedTip #17: Easily share spreadsheets with non-Zoho account users
With efficient, collaboration-friendly options, Zoho Sheet is a popular choice among users. Sheet's external share links help you collaborate more effectively by sharing your spreadsheets with anyone outside your organization, including users who do notTip #7: Four things you didn't know you can do with Conditional Formatting
Conditional formatting helps you highlight and visualize data in your spreadsheet based on provided rules. Zoho Sheet offers three types of conditional formatting: Classic, Color Scales, and Icon Sets. If you're already familiar with how Conditional Formatting works, here are some bonus tips for Classic formats: Customize rules with formulas Zoho Sheet allows you to create personalized rules based on formulas. For example, in a task list you can use customized formulas to highlight tasks which areTip #15: Stop guessing and start estimating with Zoho Sheet's Goal Seek
Goal Seek is an ideal spreadsheet tool for devising estimates, as it helps you retrieve your desired output value when the input values are not known. In other words, Goal Seek does back-solving to find input values once you've provided an output value.
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