Excel Scenario Manager feature

Excel Scenario Manager is another advanced Forecasting tool that can help your business with fast number crunching so let’s get started!

This tool let’s you create multiple What-if scenarios to make any decision-making process way easier

Since the holidays are coming up, let’s start with a marketing budget for our business

In this example, we are looking on top at the company’s overall budget and the current marketing expenses

For the holidays, we received 3 quotes from 3 different marketing agencies, each one gave us an approximate expected revenue and their budget based on their marketing efforts

In this case, we need to identify the agency that would give us the highest profit margin, so we can use the Scenario Manager right here

Another reason that are using this tool is that it gives us almost instantly a summary report that we can then share with the other departments

To start, click the Data tab on the main menu and to the far right, choose the Forecast group, click on the “What if Analysis and select the “Scenario Manager”

Let’s add our actual budget first, so we can compare what we have now versus what is estimated by each marketing agency

We need to assign a name in this case “Actual Budget” for our first scenario, click in “Changing Cells” select the Revenue cell, press the Ctrl key and then pick the Marketing budget. These are the 2 cells that will be changing for each one of the marketing agencies.

Remember that the goal here is to find the right combination of marketing expense and expected revenue so we can come up with the highest profit. The values are already selected here.

So now we are going to press ok and then we can Go back to the what if analysis. Now we can add different ones here.

We are continuing on with Alpha marketing. So here we’re going to type Alpha, click, OK, very easy.

We’re going to just plug in those values 83,000 for the projector revenue, 6500 named at C. I’m not pressing OK yet because I’m continuing on. I have two more to go. So Rivero is next Going to plug in those values for Rivero ads OK. And I’m going to add one more, which is the marketing.

So very quickly, I’m typing my names. And once I click OKAY, this is my last one. I’m going to add. Insert 87,000 and then 83, the 8300. Now I can go ahead and see the list in my scenario manager. So here you can add new ones, delete, you can edit. Let’s say that you want to make a change here.

It’s very easy. Click, OK, see, I can even change those values. It takes you back to the list. Merge is very useful. Let’s say that you have another proposal from, let’s say, from other departments, you can merge them here. We’re now going to do that with a Summary report, I’m going to show you very shortly. And then you have the show feature. Notice, as I pressed them, look how the numbers on the current budget are changing. So this is a quick way for you to view those values. And now I’m going to show you my favourite part, which is a summary report. And I’m going to actually pick the scenario summary. And there you go.

So I’m looking carefully on my results. Rivero adds, even though is the highest notice. Notice the difference of the cost between Bravo. And Rivero. OKAY, so the profit difference actually is 300 between that one and the other. But look at the cost between those two is 1200. So I’m paying $1200 more in Rivero adds to gain $300 in profit. So those are the tools that Excel can help you with your decision making process.

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