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Using the what-if function in Excel to make a decision is considered a type of forecast and scenario model
What is excel?
Excel is Microsoft's spreadsheet program and is part of the Office family of business application products. Microsoft Excel allows users to format, organize, and calculate data in spreadsheets.
Using software such as Excel to organize data makes it easier for data analysts and other users to view information when data is added or changed. Excel contains numerous fields called cells arranged in rows and columns. Data is placed in these cells. Excel is part of the Microsoft Office and Office 365 suites and is compatible with other applications in the Office suite. Spreadsheet software is available for Windows, macOS, Android, and iOS platforms.
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