Description
Master Scenario Analysis in Excel for Business and Planning This course pursues three goals: 1- Learn scenario analysis and its techniques including but limited to Monte Carlo simulation 2- Learn Microsoft Excel’s scenario analysis tools 3- And learn business analytics formulas and parameters that are applicable in all business contexts and are essential for anyone involved in business, economics and finance. Scenario analysis is a powerful planning and management technique for dealing with different possible futures and ensuring acceptable results are achieved under different scenarios. This technique is used in business, finance, economics, politics, negotiations and even military operations. The main rationale of this technique is that when outlining a plan, our assumptions may change due to unforeseen events and therefore the results may change. For these reasons, we need to count in different scenarios (through changes in assumptions) and study their impact on the results. Essentially, scenario analysis is a way of dealing with randomness in life.
An advanced technique of dealing with randomness is called Monte Carlo simulation, which uses random sampling to predict and forecast future outcomes under multiple random scenarios. In this course, students will learn this powerful technique and learn to creatively implement a sampled Monte Carlo simulation using Microsoft Excel. In addition, Microsoft Excel provides various powerful tools for scenario analysis including Goal Seek, Data Tables, Scenario Manager, and Solver. After learning the scenario analysis concept and applications in this course, students first learn how to analyze and calculate benefits and costs (including fixed and variable costs), how to calculate breakeven volume, and how to create an income statement using Microsoft Excel. While calculating these important business metrics, students learn how to set up an Excel sheet to be ready for further scenario analysis. Then using Excel tools like Goal Seek, Data Table, and Solver, students apply some scenario analysis to achieve some desired results. Monte Carlo simulation is offered as an advanced bonus for curious minds at the end of the course.
What you will learn
- Understand what scenario analysis is in a business context
- Explain when scenario analysis might be used
- Learn how to implement scenario analysis using Microsoft Excel
- Learn how to calculate profit and cost, including fixed and variable costs
- Learn how to use Data Table, Goal Seek, and Solver commands in Excel
- Learn the Steps of Scenario Analysis
Who is this course for
- Business Student
- Entrepreneurs
- Engineers
- Programmer
- Anyone who needs to plan for the future!
Specification of Master Scenario Analysis in Excel for Business and Planning
Material on 2023-5
Requirements
- Basic familiarity with Microsoft Excel
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Subtitles: English
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694MB