Project Managers often report financial numbers to the management. In a dynamic world, these numbers are usually based on a lot of factors that may or may not be under your control. So the top management demands that the numbers be reported as per different economic scenarios – Optimistic, Normal or Pessimistic.
It is important to report and present the numbers in a usable format to the top management. They should be able to toggle the scenarios comfortably and see the results. Offset function comes to your rescue to ensure a great looking model with the flexibility of reporting multiple scenarios.
What is the offset function?
A few months back, I had written about the offset function and how it can be used to create flexible models. I had discussed at that point of time, why offset function is one of the most versatile functions and at the same point of time quite dangerous as well.
In this tutorial, we would see another usage (I feel simpler than last time!) of the offset function
If I were to borrow the signature of the function from my last post, the offset function reads something like: Offset( range, rows, columns, height, width )
I will use a similar example, but change the usage of the function a little bit!
So in the illustrated example, it starts from the C3 cell, moves 1 rows and 3 columns and then gives the value (15 in this case)!
This time Offset is NOT returning an array. It is returning a single value!
[Related: OFFSET, VLOOKUP & MATCH explained in simple words]
So how can this be useful?
The offset function can move the reference of the cell by n rows and m columns. That means that if I structure the sheet with different economic possibilities in different rows, I can always move the scenarios using offset function.
How was this achieved?
Step 1: The layout of the sheet helps me achieve this objective very easily. The first part of the sheet to select the scenarios is achieved using form controls
Step 2: The Scenarios are listed in sequential order, one after the other and the form control (combo box in this case) is linked to the name of the scenarios.
Step 3: Depending on the scenario selected, the index number of the selection changes. This number is fed into the growth rate and cost selection using the offset function.
Step 4: The model is linked to the selected scenario to report the P&L figures
As I told you, offset function is quite versatile in nature and can help you achieve a lot of flexibility in your model
Bonus Step
From your PM career you would have known that preparing a nice looking report as important (if not more) as generating correct results! In our scenario selection model, we highlight the selected scenario (the pink colored row) to give clarity to the end user. This is achieved using
Step A: A simple formula in conditional formatting and
Step B: Then using the $ referencing intelligently.
What functions do you use in reporting?
I am sure that if you are generating flexible reports and dashboards for reporting, you would be using some interesting functions and tools in Excel. I use Offset, Index, Match, Indirect, Mod. Which ones do you use?
Templates to download
I have created a template for you, where the subheadings are given and you have to link the model! You can download the same from here. You can go through the case and fill in the yellow boxes. I also recommend that you try to create this structure on your own (so that you get a hang of what information is to be recorded).
Also you can download this filled template and check, if the information you recorded, matches mine or not!
Next Steps
Chandoo and I are running a course on Excel for Project Managers to share with you the various tools and techniques in Excel that can make you an awesome Project Manager. We comprehensively cover aspects related to Planning, Tracking and Reporting apart from Basics of Finance and Advanced Techniques like Monte Carlo Simulation in Project Management in the course. If you are interested in learning more about the course, you can click here.
For any queries regarding the using Excel for Project Management, feel free to put the comments in the blog or write an email to paramdeep@edupristine.com
12 Responses to “Analyzing Search Keywords using Excel : Array Formulas in Real Life”
Very interesting Chandoo, as always. Personally I find endless uses for formulae such as {=sum(if(B$2:B$5=$A2,$C$2$C$5))}, just the flexibility in absolute and relative relative referencing and multiple conditions gives it the edge over dsum and others methods.
I've added to my blog a piece on SQL in VBA that I think might be of interest to you http://aviatormonkey.wordpress.com/2009/02/10/lesson-one-sql-in-vba/ . It's a bit techie, but I think you might like it.
Keep up the good work, aviatormonkey
Hi Chandoo,
You might find this coded solution I posted on a forum interesting.
http://www.excelforum.com/excel-programming/680810-create-tag-cloud-in-vba-possible.html
[...] under certain circumstances. One of the tips involved arranging search keywords in excel using Array Forumlas. Basically, if you need to know how frequent a word or group of keywords appear, you can use this [...]
@Aviatormonkey: Thanks for sharing the url. I found it a bit technical.. but very interesting.
@Andy: Looks like Jarad, the person who emailed me this problem has posted the same in excelforum too. Very good solution btw...
Realy great article
"You can take this basic model and extend it to include parameters like number of searches each key phrase has, how long the users stay on the site etc. to enhance the way tag cloud is generated and colored."
How would you go about doing this? I think it would need some VB
Hi,
I found the usage very interesting, but is giving me hard time because the LENs formula that use ranges are not considering the full range, in other words, the LEN formula is only bringing results from the respective "line" cell.
Using the example, when I place the formula to calculate the frequency for "windows" brings me only 1 result, not 11 as displayed in the example. It seems that the LEN formula using ranges is considering the respective line within the range, not the full range.
Any hint?
@Thiago
You have to enter the formula as an Array Formula
Enter the Formula and press Ctrl+Shift+Enter
Not just Enter
Thank you, Hui! I couldn't work out how this didn't work
is there a limit to the number of lines it can analyse.
Ie i am trying to get this to work on a list of sentances 1500 long.
@Gary
In Excel 2010/2013 Excel is only limited by available memory,
So just give it a go
As always try on a copy of the file first if you have any doubts
Apologies if I am missing something, but coudn't getting frequency be easier with Countif formula. Something like this - COUNTIF(Range with text,"*"&_cell with keyword_&"*")
Apologies if I missed, but what is the Array Formula to:
1. Analyze a list of URL's or a list of word phrases to understand frequency;
2. List in a nearby column from most used words to least used words;
3. Next to the list of words the count of occurrences.