Do you need to perform What-If Analysis? Apart from that, sometimes you often want to perform a forecast on incomes, costs, or other revenues. For all of this, you have to add Solver to Excel.
In this post, you will get to know how to add Solver to Excel on Mac. The Solver add-in is used for the What-If analysis. Predicting anything in a business always comes with doubts and risks that’s why you have to be vigilant enough while using any variables.
What is Solver in Excel on Mac?
An Excel Add-in Solver has several statistical, mathematical, and logical functions on the flow in an easy-to-use interface.
Mainly, this add-in helps in analyzing the most vital value of a formula. In a nutshell, the Solver add-in is capable enough to find the min or max values given in a particular cell. These values get changed in other relevant cells.
The Solver add-in may help in finding some elements when you are on the go for complex calculations. It usually happens when the values are made for the particular cell by editing inputs of the variable cells.
Scenarios When Solver Add-in on Mac Should Use:
Below are some situations when the Solver can help effectively to figure out a data model on Excel:
It might be possible that you need to test one or more cells with formulas in terms of particular values. These cells are known as Objective cells.
Besides, some variable cells are also there in the formula made for the Objective cells. You can simply modify the values of these cells and by default, the values of Objective cells will also get changed.
Other than that some controls are needed to be followed by the data model. For instance, the budget depicted for 10 sites in three months is $100,000.
The Solver Add-in can easily forecast the inputs needed in the variable cells as you add a table with constraints, variables, and objective cell values. Below is the simple procedure you can follow:
How to Add Solver to Excel on Mac with Excel Ribbon?
Let’s assume that you are working on MacBook along with your colleagues that use complicated functions of Excel. While using Complex functions, chances are that the Solver add-in is used somewhere. Let’s see how you can add Solver on Mac:
- Open the Excel app on your MacBook by using the Dock or Launchpad.
- Open the Data tab from the Excel ribbon menu.
- Several groups of commands will appear related to data manipulation.
- From the Data tab, choose the Data Analysis command.
- An icon will appear with a question mark and an arrow. This icon is called the Solver tool.
- Choose a cell that has the objective or formula and then select the Solver icon.
That’s it!
How to Add Solver to Excel on Mac with the Add-Ins?
In case, if you don’t see the Solver tool icon in the Data Analysis menu, you can try this approach.
Let’s see how it works:
- Open the Excel app on Mac.
- On MacBook, go to the upper menu.
- When you select the Excel app, you will also notice Excel on the right side of the Apple icon.
- Select the Tools option given on the top menu bar.
- Choose the option Excel Add-ins from the context menu.
- The Add-ins dialog box will pop up.
- Mark the checkbox of Analysis ToolPak and Solver Add-in.
- Press OK and save all the edits.
- You will notice the Solver tool easily adds to the Excel ribbon and Tools option on the upper menu bar.
Now, you simply need to run the Solver add-in as mentioned earlier.
To Wrap Up:
In this post, you have briefly learned about what Solver add-in is and how it helps in predicting the outcome of the value. You are now familiar with a few approaches that answer how to add Solver to Excel on Mac.
Practice all of the above methods and you will get the benefit of it.
