I am the president of my apartment (don’t think my age is huge (I’m mid-age) or I am over talented 🙂 ). A little apartment of total of 14 flats. If you never maintained a building, you don’t know how painful it is.
You will get no salary at the end of the day, but a good amount of your daily time will be occupied to maintain some silly jobs like water-lifting motor is not working, the guard will go on leave, and a lot like those.
At the end of the day, we have to calculate whether the service charge we are taking from the flat owners is sufficient or not.
Sometimes we think: “what if we increase the service charge by 500 BDT?” BDT is the short form of Bangladeshi Taka. You guessed right 🙂 I am from Bangladesh.
Okay! You have got an idea of how what-if analysis fits in your day-to-day life. Some more examples:
- What might be our yearly profit if we increase our product price by 5%?
- What if the interest rate on the loan I have taken changes to 16% rather than 14%?
- What will be our production if the workers do 1 hour overtime?
- And a lot of examples I can gather here.
Using Microsoft Excel, you can make complex models and perform those types of what-if analysis. I have made some step-by-step tutorials that will teach you how to build models to perform complex what-if analysis in Microsoft Excel.
- A What-If example in Excel.
- Types of What-If analysis in Excel.
- One Variable Data Table in Excel 2013 [How to Create Guide].
- How to create a two-variable data table in Excel 2013.
- Excel 2013 Scenario Manager To Do Scenario Analysis.
If you follow the above step-by-step tutorials, you will be able to perform any What-If Analysis in Excel.
Happy Excelling 🙂