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.

France ZUGs

Topic Participants
Subashree Ramamurthy

Sticky Posts
Tip #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 are
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.
Tip #10: 3 helpful ways to use data validation in your spreadsheet
Data validation in spreadsheets makes data entry processes more efficient, while helping reduce inconsistencies and errors in your data sets. In this article, we'll look at three ways you can use data validations to create useful dropdown lists in your
Tip #8: Using RAND and RANDBETWEEN functions to generate random data sets
Have you ever spent hours working on a sample data record for a demonstration? We're here to show you how to do it in less time. If you want to generate a sample data set for a demonstration, or just to learn how a pivot table works, using the RAND and
Tip #3: Save your time by replicating formats
Formatting helps to create more visually appealing spreadsheets while keeping data organized. Selectively applying formatting options to your work, such as applying fonts, currency formats, or colors, can be time-consuming and repetitive. Replicating formatting guidelines for your work can help remove the burden of applying these menial tasks, which improve overall productivity in your workflow. Let's say you are collaborating on a spreadsheet with your team and you have to create a combined report.