Examples of data in excel

What is Data Table in Excel?

A Data Table in Excel helps study the different outputs obtained by changing one or two inputs of a formula. A data table does not allow changing more than two inputs of a formula. However, these two inputs can have as many possible values (to be experimented) as one wants. Excel Data tables, along with Scenarios and Goal Seek are parts of the What-If Analysis tools.

For example, an organization may want to study how changes in the cash possessed impact its working capital. A data table will help the organization know the optimum level of cash (from the specified possible values) to be held to meet its short-term obligations.

The purpose of creating data tables in Excel is to analyze the variation in outputs resulting from a change in the inputs. Moreover, one can have all the outputs in a single table which eases interpretation and allows quick sharing with other users.

Types of Data Tables in Excel

The kinds of data tables in Excel are specified as follows:

1. One-variable data table
2. Two-variable data table

Let us discuss each type of data table one by one with the help of examples.

Note: A data table is different from a regular Excel tableIn excel, tables are a range with data in rows and columns, and they expand when new data is inserted in the range in any new row or column in the table. To use a table, click on the table and select the data range.read more. The former shows the various combinations of inputs and outputs. These outputs are calculated by considering the source dataset as the base. In contrast, an Excel table shows related data that is grouped in one place.

One-Variable Data Table in Excel

A one-variable data tableOne variable data table in excel means changing one variable with multiple options and getting the results for multiple scenarios. The data inputs in one variable data table are either in a single column or across a row.read more is created to study how a change in one input of the formula causes a change in the output. A one-variable data table in excel can be either row-oriented or column-oriented. This implies that all the possible values that an input can assume are listed in either a single row (row-oriented) or a single column (column-oriented) of Excel.

You can download this DATA Table Excel Template here – DATA Table Excel Template

Example #1

There are two images titled “image 1” and “image 2.” The following information is given:

• Image 1 shows an organization’s revenue (in $) for 2018 in cell B2. The minimum growth rate expected is given as 12% in cell B3. The projected revenue (in $ in cell B5) for 2019 has been calculated by using the formula “=B2+(B2*B3).”
• Image 2 shows the possible values (in column C) that the growth rate can assume. The value of cell D8 has been explained in steps 1 and 2 (given further in this example).

We want to perform the following tasks:

• Calculate the projected revenues (in column D) according to the different growth rates (in column C) given in image 2.
• Create a “line with markers” chart showing the growth rates on the x-axis and the projected revenues on the y-axis. Replace the markers of the chart with arrows.

Use a one-variable data table of Excel. Interpret the data table thus created.

Image 1

Image 2

Two-Variable Data Table in Excel

A two-variable data table in excelA two-variable data table helps analyze how two different variables impact the overall data table. In simple terms, it helps determine what effect does changing the two variables have on the result.read more helps study how changes in two inputs of a formula cause a change in the output. In a two-variable data table, there are two ranges of possible values for the two inputs. From these two ranges, one range is in a row and the other is in a column of Excel.

Example #2

There are three images titled “image 1,” “image 2,” and “image 3.” The following information is given:

• Image 1 shows an organization’s revenue (in $ in 2018) and the minimum growth rate in cells B2 and B3 respectively. Both these figures are the same as that of the previous example. Additionally, the organization gives a 2% discount (in cell B4) to its customers. This is given to boost sales.
• Image 2 shows how the projected revenue (in $ in cell B6) for 2019 has been calculated. The formula “=B2+(B2*B3)-(B2*B4)” is used for this purpose. The amount obtained ($1,650,000) is the projected revenue after the discount.
• Image 3 shows the different values in row 9 that the discount rate can assume. The possible values that the growth rate can assume are given in column D. The value of cell D9 has been explained in steps 1 and 2 (given further in this example).

Calculate the projected revenues (in E10:J18) according to the various discount rates (in row 9) and growth rates (in column D). Use a two-variable data table of Excel. Interpret the data table thus created.

Image 1

Image 2

Image 3

The steps for creating a two-variable data table are listed as follows:

Step 1: Enter the data of the preceding images in Excel. In cell D9, type the “equal to” operator followed by the reference B6.

This time we have chosen to link cell D9 to cell B6. Alternatively, we could have also entered the formula [=B2+(B2*B3)-(B2*B4)] in cell D9. This is because, in a two-variable data table, one should type the formula or link the cell that is one column to the left of the first horizontal input value (2.5%). At the same time, this cell should be one row above the first vertical input value (12.5%).

The linking of cells ensures that any changes to the formula of cell B6 are reflected in the value of cell D9. Further, any change in the value of cell D9 will update the outputs (in E10:J18) automatically.

Note: Please ignore the differences in font, colors, and alignment across the images of this example. These differences may be due to the different versions of Excel being used to create the images.

Step 2: Press the “Enter” key. Cell D9 shows the value of cell B6, which is 1,650,000. This is shown in the following image.

The entire range D9:J18 is our two-variable data table. Notice that the excel data table shows the possible discount rates horizontally (in bold in row 9) and the possible growth rates vertically (in column D). This time the variation in outputs resulting from changes in both these inputs (discount rate and growth rate) need to be studied.

Note: If the value is entered manually in cell D9, the excel data table will not work.

Step 3: Select the range D9:J18. Note that the selection should include the linked cell (D9), possible discount rates (E9:J9), possible growth rates (D10:D18), and the empty cells for the outputs (E10:J18).

The selection is shown in the following image.

Step 4: Click the “what-if analysis” drop-down (in the “data tools” or “forecast” group) of the Data tab. Select the option “data table.”

Step 5: The “data table” window opens, as shown in the following image. In the box of “row input cell,” select cell B4. In the box of “column input cell,” select cell B3. The absolute referencesAbsolute reference in excel is a type of cell reference in which the cells being referred to do not change, as they did in relative reference. By pressing f4, we can create a formula for absolute referencing.read more to cells B4 and B3 appear in the two boxes.

Cells B4 and B3 contain the minimum expected growth rate and the discount rate of the source dataset.

By making these selections, Excel is told that at a discount rate of 2% and a growth rate of 12%, the projected revenue is $1,650,000. Therefore, our two-variable data table instructs Excel to calculate the projected revenues when the discount rates and growth rates vary from 2.5% to 5% and 12.5% to 20.5% respectively.

Note: In a two-variable data table, both the “row input cell” and “column input cell” are specified, unlike a one-variable data table where one has to specify either of the two inputs.

Further a two-variable data table uses the formula “=TABLE(row_input_cell,column_input_cell)” to calculate the outputs. So, in this example, the formula “=TABLE(B4,B3)” has been used for the calculations. This formula is visible in the formula bar when an output cell is selected.

For the meaning of the “row input cell” and the “column input cell,” refer to “note 1” under step 5 of example #1.

Step 6: Click “Ok” in the “data table” window. The outputs appear in the range E10:J18, as shown in the following image.

Interpretation of the two-variable data table: When the discount rate is 2.5% and the growth rate is 12.5%, the organization’s projected revenue is $1,650,000 (in cell E10). Notice that this figure is the same as that of cell B6. However, the value in cell B6 takes into account 2% and 12% as the discount rate and growth rate respectively.

Notice that the numbers of cells E10 and B6 match those of cells G11 and I12. This implies that when the discount rate and growth rate are increased in the same proportion (like by 0.5%, 1.5% or 2.5%), the resulting value is the same as the output of the source dataset (in cell B6). Cells E10, G11, and I12 reflect 0.5%, 1.5%, and 2.5% increase in the two rates.

Likewise, had we increased both the discount and growth rates by 1%, the resulting value would have again been $1,650,000. In this case, the discount rate and growth rate would have been 3% and 13% respectively.

By obtaining the projected revenues in the range E10:J18, the organization can sell at an optimum discount rate and, at the same time, target an attainable growth rate. Hence, the organization can choose the most suitable combination of the two rates.

Note: For more examples related to the two-variable data table of Excel, click the hyperlink given before step 1 of this example.

The Key Points Governing Data Tables in Excel

The important points related to data tables of Excel are listed as follows:

• It helps select those input values that fit the business in the best possible manner.
• It facilitates the comparison of the different outputs as all the results are consolidated in one place.
• It presents the results in a tabular format that can neither be edited nor undone with the shortcut “Ctrl+Z.” The outputs can only be deleted by selecting them and pressing the “Delete” key.
• It uses the TABLE array formulas to calculate the outputs. The “row input cell” and the “column input cell” must be selected carefully to get accurate results. Moreover, the input cell or cells must be on the same worksheet as the data table.
• It need not be refreshed, unlike a pivot table. A change in the values or the formula of the source dataset causes the excel data table to update automatically.

Frequently Asked Questions

Recommended Articles

This has been a guide to Data Tables in Excel. Here we discuss how to create one-variable and two-variable data tables along with practical Excel examples. You may learn more about Excel from the following articles–

• Two-Variable Data Table in ExcelA two-variable data table helps analyze how two different variables impact the overall data table. In simple terms, it helps determine what effect does changing the two variables have on the result.read more
• VBA Refresh Pivot TableWhen we insert a pivot table in the sheet, once the data changes, pivot table data does not change itself; we need to do it manually. However, in VBA, there is a statement to refresh the pivot table, expression.refreshtable, by referencing the worksheet.read more
• Merge Tables ExcelWe can use a number of different methods to merge tables in Excel, including the VLOOKUP function, the INDEX function, and the MATCH function.read more
• Data Validation in ExcelThe data validation in excel helps control the kind of input entered by a user in the worksheet.read more

Data Table in Excel (Table of Contents)

• Data Table in Excel
• How to Create Data Table in Excel?

Data Table in Excel

Data tables are used to analyze the changes seen in your final result when certain variables are changed from your function or formula. Data tables are one of the existing parts of What-If analysis tools, which allow you to observe your result by experimenting it with different values of variables and to compare the outcomes stored by the data table.

There are two types of a data table, which are as follows:

1. One-Variable Data Table.
2. Two-Variable Data Table.

How to Create Data Table in Excel?

Data Table in Excel is very simple and easy to create. Let’s understand the working of the Data Table in Excel by Some Examples.

You can download this Data Table Excel Template here – Data Table Excel Template

Data Table in Excel Example #1 – One-Variable Data Table

One-variable data tables are efficient in the case of analyzing the changes in the result of your formula when you change the values for a single input variable.

Use case of One-Variable Data Table in Excel:

The one-variable data table is useful in scenarios where a person can observe how different interest rates change the amount of their mortgage amount to be paid. Consider the below figure, which shows the mortgage amount calculated based on the interest rate using the PMT function.

The table above shows the data where the mortgage amount is calculated based on the interest rate, mortgage period and loan amount. It uses the PMT formula to calculate the monthly mortgage amount, which can be written as =PMT (C4/12, C5,-C3).

In the case of observing the monthly mortgage amount for different interest rates, where the interest rate is considered as a variable. In order to do this, there is a need for creating a one-variable data table. The steps to create the one-variable data table are as follows:

Step 1: Prepare a column which consists of different values for the interest rates. We have entered different values for interest rates in the column which is highlighted in the figure.

Step 2: In the cell (F2), which is one row above and diagonal to the column which you prepared in the previous step, type this = C6.

Step 3: Select the entire prepared column by values of different interest rates along with the cell where you had inserted the value, i.e. F2 cell.

Step 4: Click on the ‘Data’ tab and select ‘What-If Analysis’, and from the options popped down, select ‘Data Table’.

Step 5: Data table dialog box will appear.

Step 6: In the Column input cell, refer to cell C4 and click OK.

In the dialog box, we refer to the cell C4 in the Column input cell and keep the row input cell empty as we are preparing a data table with one variable.

Step 7: After following all the steps, we get all the different mortgage amounts for all entered interests rates in column E (unmarked), and the different mortgage amounts are observed in column F (marked).

Data Table in Excel Example #2 – Two-Variable Data Table

Two-variable data tables are useful in scenarios where a user needs to observe the changes in the result of their formula when they change two input variables simultaneously.

Use-case of Two-Variable Data Table in Excel:

The two-variable data table is useful in scenarios where a person can observe how different interest rates and loan amounts change the amount of their mortgage amount to be paid. Instead of calculating for individual values separately, we can observe them with instantaneous results. Consider the below figure, which shows the mortgage amount calculated based on the interest rate using the PMT function.

The above example is similar to our example shown in the previous case for a one-variable data table. Here the mortgage amount in cell C6 is calculated based on the interest rate, mortgage period and loan amount. It uses the PMT formula to calculate the monthly mortgage amount, which can be written as =PMT (C4/12, C5,-C3).

In order to explain the two-variable data table with reference to the above example, we will show the different mortgage amounts and choose the best which suits you by observing the different values of interest rates and loan amount. In order to do this, there is a need for creating a two-variable data table. The steps to create the one-variable data table are as follows:

Step 1: Prepare a column which consists of different values for the interest rates and loan amount.

We have prepared a column consisting of the different interest rates, and in the cell diagonal to starting cell of the column, we have entered the different values of the loan amount.

Step 2: In the cell (E2), which is one row above to the column which you prepared in the previous step, type this = C6.

Step 3: Select the entire prepared column by values of different interest rates along with the cell where you had inserted the value, i.e. E2 cell.

Step 4: Click on the ‘Data’ tab and select ‘What-If Analysis’, and from the options popped down, select ‘Data Table’.

Step 5: A Data table dialog box will appear. The ‘Column input cell’ refers to cell C4 and in the ‘Row input cell’ C3. Both the values are selected as we are changing both the variables and Click OK.

Step 6: After following all the steps, we get different values of mortgage amounts for different values of interest rates and loan amount.

 

Things to Remember About Data Table in Excel

1. For one variable data table, the ‘Row input cell’ is left empty, and in a two-variable data table, both ‘Row input cell’ and ‘Column input cell’ are filled.
2. Once the What-If analysis is performed, and the values are calculated, you cannot change or modify any cell from the set of values.

Recommended Articles

This has been a guide to a Data Table in Excel. Here we discuss its types and how to create data table examples and downloadable excel templates. You may also look at these useful functions in excel –

1. Two-Variable Data Table in Excel
2. One Variable Data Table in Excel
3. Excel Data Visualization
4. Database Function in Excel