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Discuss and compare the data consolidation and What-If analysis Excel tools

Answer Question:

Discuss and compare the data consolidation and What-If analysis Excel tools. Under what circumstances would you use each of these tools? Do they both serve the same purpose, or is each one used under different scenarios? Give examples of how each can be used.


Comment about para below:

Data consolidation is when you whant to summarize a large amount of data into a worksheet. What-if is the process when you change the values to see how they affect the formulas that are in the worksheet. They do serve a purpose and this is to help data stay organized and to see what affects they can have on data. An example of data consolidation would be summarizing data in excel and for the what if it would be scenarios where you would want to see how much you would make in 20 years if you make the Same amount an hour and then change what you make an hour.
Comment about para below:

Consolidation in Excel is a great feature than can be used to summarize data or values from multiple worksheets that contain related data or values. With this feature, users can find it very easy to combine all related data for several users or items. Let say for instance we have a sheet that entails various customers who make purchases during the week and among them there are two customers who basically make 5 purchase on separate days during the week, for example. Repeating the same name and purchase made for a specific customer might be a burden or confusing to read at times. To erase that, the consolidating feature can be used to calculate the total purchase of that specific customer over the week instead of repeating the same name in the worksheet. With that users will find it pretty much easy to understand their sales over the week for various customers. On the other hand, the what-if analysis feature is basically the process in which variables can be modified or changed in order to notice or observe how it can affect calculated results or an outcome of particular something. Verily, most big companies and businesses use this feature to make assumptions about future trend and profit making in order to observe and compare how a particular change may affect a related outcome. Comparing the two features, I will personally say that they serve similitude characteristics but aren’t the same, neither do they perform the same function. Thus I will say each of them is used under different scenarios.