“Start with a joke.” My boss used to say when I am nervous about an upcoming presentation. Although, I am not nervous to post this article, I think a joke will always help.
So here it goes:
[originally posted on 5th May 2008]
Now to more serious matters.
VLOOKUP (and other lookup formulas) are very powerful and quite practical. They can fetch you the information you are looking for from a heap of data.
Now that we have seen the power of VLOOKUP thru several posts this week, I want to test your understanding of these formulas by presenting 3 challenges.
Download the excel workbook with these challenges
Click here to download excel workbook with all the data for these challenges.
Challenge # 1: Price After Discount
We come across this problem quite often. You have a list of discount codes and applicable quantity thresholds. For eg. you may sell an item at $50, but if I buy more than 1 item, you will give a 10% discount. The discount goes up as I purchase more quantity.
Now, given a list of item quantities, how do you calculate the amount payable using lookup formulas? That is our first challenge.
Challenge # 2: Price after accumulated quantity discount
This is essentially same as above formula, but the discounts apply on accumulated quantities bought so far. For eg. I will get first item for 0% discount, 2nd and 3rd items for 10% discount, 4th item for 15% discount … 26th item for 50% discount etc.
Now, given a list of customer names and quantities they bought (in the same order), how do you calculate the amount payable for each transaction?
Challenge # 3: Closest price based on the quantity purchased
This is an interesting challenge. The price after discount is determined based on the quantity bought. For eg. the discount thresholds are 1, 3, 5, 10, 25 etc. Now, given a quantity of items bought, we determine the price by finding the closest threshold to it. So, a quantity of 7 will get the price from threshold 5 as against 10.
Few guidelines on solving these challenges:
Although the above problem might appear simple, the solution is not so straightforward.
- Use a variety of formulas: Do not just rely VLOOKUP. Instead experiment with formulas like SUMIF, COUNTIF, INDEX, MATCH etc. to get results
- Use helper columns: Break down the problem in to several steps and use helper columns to get the results
- Use pen & paper: Write down the logic first, then simulate it in excel using formulas. It clears your mind fast.
- Many solutions exist: Each problem can be solved in several different ways. So once you find a solution, feel free to explore other options
- Share your solutions: Use comments box to share your solutions with us. I am always looking for new ways to solve problems. So teach me…
Solution to the Challenges:
Here is a workbook with one set of solutions for the problems. As I said, many other solutions do exist. So use this workbook as an indication of what is possible.
Click here to download excel workbook with all the data for these challenges.
One Link to More VLOOKUP Awesomeness:
Debra at Contextures has chipped in with some interesting videos on VLOOKUP formulas. Check them out here.
The 2nd Joke:
It is quite difficult to set an expectation and then meet it. More so with jokes. But do you know that Chandoo.org’s 404 pages show Excel error messages? For example go to http://chandoo.org/wp/missing_file/. Refresh the page to see a different message. 🙂
It is Diwali (the festival of lights) in India this weekend. So I am going to spend time with family, light some fireworks and relax. I wish you a happy Diwali if you celebrate one. Even otherwise, I wish a lot of light and warmth in to your life this year.
31 Responses to “Beautiful Budget vs. Actual chart to make your boss love you”
Would be considerably easier just to have a table with the variance shown.
On Step 3, how do you "Add budget and actual values to the chart again"?
There are a few ways to do it.
Easy:
1) Copy just the numbers from both columns (Select, CTRL+C)
2) Select the chart and hit CTRL+V to paste. This adds them to chart.
Traditional:
1) Right click on chart and go to "select data..."
2) From the dialog, click on "Add" button and add one series at a time.
One more way to accomplish it is just select the columns into chart. Press Ctrl+C and then press Ctrl+V
Regards
Neeraj Kumar Agarwal
Unfortunately, this doesn't seem to work for me in Excel 2010. The "Var 1" and "Var 2" columns cannot combine two fonts to display the symbol and the figure side-by-side.
Secondly, there is no option to Click on “Value from cells” option when formatting the label options. The only options provided are Series Name, Category Name or Value.
@TheQ47... the emoji font also has normal English letters, so if you use that font, then you should be ok. I am assuming your computer doesn't have that font or hasn't been upgraded for emoji support.
Reg. Excel 2010, you can manually link each label to a cell value. Just select one label at a time (click on labels, wait a second, click on an individual label) and press = and link it to the label var 1 or var 2.
I am using excel 2010, please explain how to apply Step 12
Regards
Neeraj Kumar Agarwal
Hi Neeraj,
"Value from cells" option is only available in Excel 2013 or above. In older versions, you have to manually adjust the label value by linking each label seperately.
Read this please: https://chandoo.org/wp/change-data-labels-in-charts/
Sir, you are just awesome.
Your creativity has no limit.
Regards
Neeraj Kumar Agarwal
Hi Chandoo,
I just found your website, and really love it. It helps me a lot to be an Excel expert 😉
Currently I am facing with a problem at step 11:
Var1 Var2
D30%
A5%
B0%
B4%
B7%
C10%
C13%
D27%
I42%
Though at mapping table, I used windings, here formula uses calibra. How I can change it? I am able to change only the whole cell. In this case numbers will be Windings too.
Thanks for your help!
Hi Mariann... Welcome to Chandoo.org and thanks for your comment.
If you wanted to use symbols from wingdings and combine them with % numbers, then you need to setup two labels. One with symbol, in wingdings font and another with value in normal font. Just add the same series again to the chart, make it invisible, add labels. You may need to adjust the alignment / position of label so everything is visible.
[…] firs article explains how you can enhance your charts with symbols. You can simply insert any supported symbol into your data and charts. To some extend you can […]
You're a good person, thank you to share your knowledge with us, I will try to do in my work
Great visualization of variance. My question is that is this possible in powerbi?
How would you go about it?
HELLO, WHY CANT I FIND VALUES FOR LABELS IN EXCEL 2013
Dear chanddo sir,
What to do if we have dynamic range for Chart. How this will work. can you able to make the same thing works on dynamic range.
Sir Chandoo,
Good Day!
First, I'd like to say that I am very grateful for your work and for sharing all these things with us.
I tried to do this chart but it seems that the symbols don't work with text (abs(var%),"0%") unless we keep the Windings font style.
The problem is, it converts the text into symbol as well and you wont see the 0% anymore. I'm using Windows 7.
WOW - Segoe UI Emoji
This is the greatest discovery for me this month 🙂 Thanks for sharing.
Here's my two-cents:
https://wmfexcel.com/2019/02/17/a-compelling-chart-in-three-minutes/
Sir This is awesome chart, and very easy to made because of your way to explain is very simple , everyone can do. Thank you
one problem i am facing, I hv made this chart , but when i am inserting data table to chart it is showing two times , how can i resolve this
in this chart when i am adding new month data for example first i made this chart jan to mar but when i add data for the apr month graphs updated automatically but labels are missing for that new month
Hi Renuka,
Please make sure the formulas for labels are also calculated for extra months. Just drag down the series and set label range to appropriate address.
So I am playing with the Actual chart here - but amounts are bigger than your - you have 600 as Budget - my budget is 104,000 - is there a way to shorten that I am unaware of
thank you - I LOVE YOUR SITE
Thanks for the tips and tricks on Excel. In the Planned versus Actual chart examples, you use multiple values (ex. multiple Categories in above). How can this be done when we have only 1 set of values? For example if I have only this:
Planned Actual
SOW Budget 417480 367551
How can I create a single bar chart like the one above?
Thank you Chandoo.
This one is just perfect for my Quarterly Review presentation on Operational Budget against Actual Performance for the Hospital I'm currently working with.
Just Subscribed today (10 minutes ago)
Is there a way to make the table of data into a pivot table to be able to add a slicer for the graph due to many different categories and months?
Hi, I tried to modify you template with something appropriate for me, and I found a problem. this template was modified by me started with excel 2010, then 2016 and finally 2019. Same thing - somehow appear an error - or didn't show the emoticons for positive percentage or doubled the emoticons for some rows. I suspect to be from excel. if is need it I can sand you my xlsx for study. Please help if you can.
Hi Chandoo,
Could you please check the Var Formula in Step1. You have mentioned budget-actual and when i did this i got different values but when reversed like actual-budget i got the actual value what you have demonstrated in step1.
Please share your view.
This is a great chart (budget vs. actual). However, in trying recreate it, I cannot color in the UP Down bars individually, and they all become formatted with the same color. I'm using Office 365. Look forward to the feedback.
Thanks.
Dan
pls explain in detail step 7
While in the Excel sheet you have used following formula for Var
Var = Actual - Budget
But
in the note, you have written
Var = Budget - Actual
Good Presentation and Data information.thank you so much chandoo.