Goal Seek in Google Sheets is a free add-on to do simple tasks like for a business venture, to find out a point where the cost price is equal to the sale, and there is no profit and no loss condition. It helps us in choosing between more than one investment project. In this guide, we will learn how to use the Goal Seek add-on in Google Sheets in detail.
How to Use Goal Seek in Google Sheets
For using the Goal Seek in Google, we need to install it as an add-on from the Google Workspace Marketplace. Following are a few step to install the Goal Seek add-on in Google Sheets.
Step 1: Go to Extensions
Click on Extension on the taskbar and go to add-ons from the dropdown. In the next dropdown menu, click on Get add-ons:
Step 2: Search for Goal Seek
A new window will be opened with Google Workspace Marketplace. Here, search for the Goal Seek in and click on Goal Seek application from the result:
Step 3: Install Goal Seek Application
To download and install the Goal Seek, click on Install under the Goal Seek app:
Step 4: Choose a Google Account
To download and install the Goal Seek on Google Sheets, you need to choose a Google Account in the next window:
Step 5: Review the Privacy Policy and Terms of Service
Review the terms of service and the privacy policy to use the Goal Seek on Google Sheets, and click on Allow at the bottom:
Step 6: Click Done
After completing the installation of the Goal Seek, click on Done and close the window:
How to Perform a Task Using Goal Seek in Google Sheets
To perform any task in using Goal Seek in Google Seek, enter the data in the Google Sheets according to the required fields in the Goal Seek sidebar. Followings are a few step to perform a task using Goal Seek.
Step 1: Set the Data in Google Sheets
Before using Goal Seek in Google Sheets, you need to enter all the known variables in your data:
Step 2: Open Goal Seek
Go to Extensions and click on Goal Seek, then click on Open to launch it in Google Sheets:
Step 3: Add “Set Cell”
The Goal Seek sidebar will be open at the right of the window. There are three parameters you need to enter in three different fields. The first one is the Set Cell. It is the targeted cell where we are looking for to seek the required goal.
Click on the cell on which we want to get the result, and then click on the box icon in the field of set cell on the sidebar:
Step 4: Add “To Value”
The next field is the To Value, which is the targeted value we seek to get in the final result. In our example, we will enter 0 as the Set Value, as we are looking for the Breakeven point, which is the point where there is no profit and no loss:
Step 5: Add “By Changing Cell”
The third field is the By Changing Cell, which is the reference cell on which we change the value to get the result of 0 in the Set Cell. In our example, the reference cell for By Changing Cell is B4, which means that we are seeking the result of zero profit by changing the sale price of one unit:
Click on the cell we want to add and then click on the box icon in front of the By Changing Cell field in the sidebar:
Step 6: Click on Solve
After entering all the parameters in the mentioned fields, click on Solve at the bottom to get the required result:
Step 7: Final Result
When click on Solve, the values will start changing in the cells we have added in the Set Cell and the By Changing Cell fields of the Goal Seek. After a few seconds, this will complete the task, and you will see the solution and the targeted result as shown:
Pro Tips:
There is a chance of getting an error when you try to solve any task in the Goal Seek. Followings are main reason behind any error in the Goal Seek with their solutions in description.
- The “Set Cell” must Contain a Formula
You must have to select the reference of the targeted cell that contain a formula. If the targeted cell doesn’t contain any formula, you will get an error on solving the Goal Seek.
- “To Value” Must be Numerical
The To Set value should not be in the text form, you will get an error on solving the Goal Seek if there enter any text in the To Set field.
- The Formula Used in Set Cell must Contain “By Changing Cell”
The By Changing Cell placed in the third field of the Goal Seek must be used in the formula you entered in the Set Cell. If the cell is not used in the formula cell, you will get an error on solving the Goal Seek.
Conclusion
Goal Seek is a free add-on in the Google Sheets used to perform simple tasks over some variables. To use Goal Seek, you need to install it as an add-on from the Google Workspace Marketplace. Before using the Goal Seek, set your data in the Google Sheets in the appropriate way as required by the Goal Seek sidebar fields to perform a task.
There are three field compulsory fields in the Goal Seek sidebar, Set Cell, To Value, and the By Changing Cell. The “By Changing Cell” must contain a formula including the cell used as the “Set Cell” in the first field. The “To Value” must be in numerical form.