Data consolidation refers to the collection and integration of data from multiple sources into a single destination. During this process, different data sources are put together, or consolidated, into a single data store. Because data comes from a broad range of sources, consolidation allows organizations to more easily present data, while also facilitating effective data analysis. Data consolidation techniques reduce inefficiencies, like data duplication, costs related to reliance on multiple databases and multiple data management points.
What-if analysis is the process of changing the values in cells to see how those changes will affect the outcome of formulas on the worksheet. Three kinds of what-if analysis tools come with Excel: scenarios, data tables, and Goal Seek. Scenarios and data tables take sets of input values and determine possible results
What-If Analysis in Excel allows you to try out different values (scenarios) for formulas. The following example helps you master what-if analysis quickly and easily.
Assume you own a book store and have 100 books in storage. You sell a certain % for the highest price of $50 and a certain % for the lower price of $20.
If you sell 60% for the highest price, cell D10 calculates a total profit of 60 * $50 + 40 * $20 = $3800.
Both these excel tools can be used to help in growing the business. The planning and consolidation software can help automate and streamline your planning, budgeting, forecasting, and consolidation activities – for shorter budget cycles, a faster close, and improved regulatory compliance. They Make better decisions based on what-if analysis and scenario planning and also increase collaboration for improved accountability and planning accuracy.
Mar 31st, 2015
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