Solver, Scenarios, and Goal Seek Tools

Abstract

Chapters 1through 8have introduced us to some very powerful tools for formulating, solving, and analyzing complex problems. From the seemingly endless array of cell functions, to the sorting, filtering, and querying, to PivotTable and PivotChart reports, to the Data Analysis tools, there seems to be a tool for almost every analytical need. Yet, there are a number of tools we have not exercised; in particular, the optimization tool Solver. Solver permits us to utilize a problem structure known as constrained optimization. Decision makers can search for a best solution for some desired objective, under constrained conditions. (It will also allow unconstrained problem structures.) We will learn more about this prescriptive analysis procedure later in this chapter.