When you're planning or forecasting, you'll often need to work backward from your target to derive the figures you need. For example, when planning your next financial year, you may need to find out how much you need to raise the selling price for your widgets to make an extra $30,000 a year.
To work this out, you can try increasing the unit price for the widgets until your revenue figure is $30,000 higher. But you can save time and effort by using Excel's Goal Seek feature to derive the required price automatically by working backward from the revenue figure.
To derive values using Goal Seek, follow these steps: