Basic Excel Business Analytics #64: Introduction To Monte Carlo Simulation In Excel

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  • Опубликовано: 17 ноя 2024

Комментарии • 73

  • @ΙωάννηςΤζιουμάκης
    @ΙωάννηςΤζιουμάκης Месяц назад +1

    I was looking for a ease way of explaining MC Simulation in Excel. This is the greatest that i have ever found. Thank a lot for your analytical and explainable help....thousend thumbs up !!!

  • @hasibulhasan32
    @hasibulhasan32 Год назад

    people like you reminds me "generosity " ❤

  • @sedarathnadcd
    @sedarathnadcd 2 года назад +1

    OMG, What a wonderfull explanation, Thank you, it absolutely wonderful.

  • @tynaev14
    @tynaev14 7 лет назад +2

    You're AMAZING! Thanks a LOT for doing this for people! GOD BLESS YOU!

  • @robmaclennan9469
    @robmaclennan9469 3 года назад

    You're an amazing teacher. Thank you.

  • @Marius_Johannes
    @Marius_Johannes 2 года назад

    You make this look easy!!! Thank you!!! Plus your skills awesome

  • @waterstream
    @waterstream 8 лет назад +1

    You are an awesome teacher! I am loving it!

    • @excelisfun
      @excelisfun  8 лет назад

      +Luis Lee Glad you like it!

  • @seengyadu
    @seengyadu 8 лет назад

    Very good, engaging explanation and good power tips for Excel!! Well done!

  • @nachiketjangam4343
    @nachiketjangam4343 4 года назад

    I anyways like ALL your videos, this was the pinnacle for me

    • @excelisfun
      @excelisfun  4 года назад

      Thank you for your consistent support. I sepend on Teammates like you to help support. I agree - this Monte Carlo Simulation In Excel is the best : )

  • @dorissweanapo9860
    @dorissweanapo9860 6 лет назад +2

    Best channel😍✨👍 !!!! It contains every topic that I need to learn :)

    • @excelisfun
      @excelisfun  6 лет назад +1

      Yes, Monte Carlo is one of the more useful and cool things that Excel can do!!! Thanks for your consistent support, Doris : )

    • @dorissweanapo9860
      @dorissweanapo9860 6 лет назад +1

      I'm trying to improve my analytical skill and your channel is helping me to achieve that goal. I'm so thankful to you for download all these videos. No words to express my sincere appreciation :)

  • @brentcos9370
    @brentcos9370 8 лет назад

    AWESOME! Exactly what I was looking for in monte carlo simulation in Excel for business use. SUBSCRIBED! Thanks much.

    • @excelisfun
      @excelisfun  8 лет назад +1

      +Brent COS I am glad that the video helps!

    • @brentcos9370
      @brentcos9370 8 лет назад

      +ExcelIsFun Can you please share the links to the other RUclips videos for #65-#69 videos? Also, how can I find a "directory" of your videos? Thank you.

    • @excelisfun
      @excelisfun  8 лет назад

      +Brent COS
      All Basic Excel Business Analytics videos:
      ruclips.net/p/PLrRPvpgDmw0mSJCZaqQPFj0eto4qnzkCZ
      For all 2700 videos I have , please watch the intro video:
      ruclips.net/video/qjqAJxwhfZY/видео.html

    • @brentcos9370
      @brentcos9370 8 лет назад

      +ExcelIsFun Thank you very much! I have been going through your great videos. Question: Do you take questions outside of RUclips? I am trying to model a new distribution business unit (multiple product categories) and some variables, such as product category, have multiple cost points for a given product category as well as varying sell prices depending on the customer type. I have built my own Excel model with simple matrices but after going through your videos, my model, relative to yours, is not nearly as powerful or insightful! Before I get into any further detail, do you entertain assitance outside of RUclips? Take care.

  • @michaelvonalpen5481
    @michaelvonalpen5481 8 лет назад +2

    Best Tutorial I've seen so far

    • @excelisfun
      @excelisfun  8 лет назад

      +Michael von Alpen Glad you like it!

  • @krn14242
    @krn14242 9 лет назад

    Thanks Mike. Merry Christmas. I hope Santa is good to Isaac this year.

    • @excelisfun
      @excelisfun  9 лет назад

      +krn14242 Merry X-mas to you and your family, WRH!!!!

  • @Firesun07
    @Firesun07 9 лет назад

    Awesome training!!! Thanks!

    • @excelisfun
      @excelisfun  9 лет назад

      +Jason Lowe Glad you like it!

  • @vijayrao6321
    @vijayrao6321 9 месяцев назад +1

    Thanks!

    • @excelisfun
      @excelisfun  8 месяцев назад

      Thank you very much for the donation : ) It really helps, Vijayrao!!!

  • @wafaalmasri7659
    @wafaalmasri7659 7 лет назад

    You are a gem brother!

  • @vijayrao6321
    @vijayrao6321 9 месяцев назад

    How do you suggest modeling negative growth using a triangular distribution? There is a likelihood that growth can decline to -3% in a scenario (worst case) with most likely and best case both being positive. Appreciate your guidance on this.

    • @excelisfun
      @excelisfun  9 месяцев назад

      I have not run that distribution before. Here is a link I found that should be helpful:
      www.drdawnwright.com/easy-excel-inverse-triangular-distribution-for-monte-carlo-simulations/
      If you create a good simulation model, you should e-mail it to me so I can check it out @ excelisfun at gmail : )

  • @ibarix
    @ibarix 7 лет назад

    man you are awesome, i learned some tricks, thanks

  • @MrExistance1
    @MrExistance1 9 лет назад

    Marry Cristmas...
    Its really enlightening.. Thanks so much...

    • @excelisfun
      @excelisfun  9 лет назад

      +Kubilay Tastutar You are welcome! More videos coming out on Simulation soon!!!

  • @humbertosoto3259
    @humbertosoto3259 9 лет назад

    Great video! This for sharing!

    • @excelisfun
      @excelisfun  9 лет назад

      +Humberto Soto You are welcome!

  • @garyt4391
    @garyt4391 4 года назад

    Nice Tutorial!
    Since I am using Excel 2003 I downloaded your .xlsx file and converted it to .xls using the "Microsoft Open XML Converter".
    I ran into some issues with how the "=FREQUENCY(Data Array,Bins)" function works.
    When I hit CTRL+SHIFT+ENTER, it does enter the function into the active cell but it does not fill it all the way down as in your video.
    I tried dragging it down using the "Angry Rabbit" but my computer locked up.
    I found that I have to highlight the cell with the formula and all the cells below it EXCEPT FOR THE LAST CELL; AFTER THE LAST DEFINED BIN.
    Then I have to hit F2+CTRL+SHIFT+ENTER. This results in the same output you got.
    From your "Simulation (an)" tab I see that you actually have the {=FREQUENCY(B29:B10028,D39:D50)} formula in that last cell (beside the "4000

  • @ExcelStrategy
    @ExcelStrategy 9 лет назад +1

    Hi Mike Love Monte Carlo method ! I also have a video project on it but haven't had the time to shoot it :) it is not so exstensive as your series ! Merry X'mas and happy holidays :)

    • @excelisfun
      @excelisfun  9 лет назад

      +ExcelStrategy Happy Holidays to You!!!!

    • @aklankrisz
      @aklankrisz 5 лет назад

      You like the Monti-Carlo method! Monte Carlo is a location, Monti and Carlo are two person! Please note.

  • @Barelski
    @Barelski 7 лет назад

    This guy is good! Thanks!!

  • @rahulpriyadarshi9365
    @rahulpriyadarshi9365 7 лет назад

    Really Informative.
    I just want to know How are you getting corresponding formulas in next cell after hitting enter?

    • @devexpost8508
      @devexpost8508 7 лет назад

      Rahul,
      You could figure this out simply by downloading the provided
      Excel file from the Excel Is Fun website shown above and examining the cell contents.
      Nonetheless, the formula is:
      =IF(ISFORMULA(cell)," "&FORMULATEXT(cell),"")
      If you see:
      =IF(_xlfn.ISFORMULA(cell)," "&_xlfn.FORMULATEXT(cell),"")
      then your version of Excel does not support the Functions.
      www.excelfunctions.net/excel-isformula-function.html
      www.excelfunctions.net/excel-formulatext-function.html

  • @anekanek24
    @anekanek24 3 года назад

    Hi, this video is very informative; thank you so much!
    I have a question though, you mentioned that the probability distribution for the direct labor cost per unit is based on historical data. Assuming there are no available data to use, is there a way to make a probability distribution for DLC by myself? Thanks!

    • @excelisfun
      @excelisfun  3 года назад +1

      Not a reliable one. How do you do it if there is no historical data for a company? Costs have many different types of distributions, so I guess you would have to research the industry and see what other company's costs have been.

  • @winnieip9851
    @winnieip9851 9 лет назад

    I now got it. thx a lot

    • @excelisfun
      @excelisfun  9 лет назад

      +Winnie Ip , Great!

    • @excelisfun
      @excelisfun  9 лет назад

      +Winnie Ip Thanks for clicking Thumbs Up and Subscribing!

  • @Hari983
    @Hari983 5 лет назад

    Man you are God!

    • @excelisfun
      @excelisfun  5 лет назад +1

      Just guy having fun with Excel : ) Glad the video helps you, Haritha!!!!! Thanks for your support with your comment, thumb up and of course your Sub : )

  • @gdwfs
    @gdwfs 9 лет назад

    Fantastic (again).

  • @vacilando86
    @vacilando86 4 года назад

    Let's assume that there is no one can give distribution of purchase prices, Is there a way to calculate "Relative Frequency" in excel by ourself. ?
    Thank you

  • @DIGITAL_COOKING
    @DIGITAL_COOKING 6 лет назад

    epic video Mike !!!

    • @excelisfun
      @excelisfun  6 лет назад

      Yes!!!! Simulation is a perfect use for Excel : )

  • @Barhomopolis
    @Barhomopolis 7 лет назад +1

    BBBUUUUTTT IIITT WWIIILLLL CCCAAALLLLCCCCUUUULLLLAAATTTEE RRRRREEEEEAAAALLLLLYYYY SSSSLLLLOOOOWWWWLLLLYYY!!!
    ROTFL
    !You're the best teacher EEEVVVVVERRRRRR

    • @excelisfun
      @excelisfun  7 лет назад

      I am glad that you are having fun with the videos AND that you have your picture of you as a smiling guy having fun with Excel : )

    • @Barhomopolis
      @Barhomopolis 7 лет назад

      Thanks, Mike!
      I really appreciate your work.
      Ibrahim (www.linkedin.com/in/ibrahimakomar/)

  • @agustinvelazquez3871
    @agustinvelazquez3871 9 лет назад

    Hi Mike, good video! I have some questions. I saw in that the frequency distribution is similar to a uniform distribution, that´s for the uniform distribucion of the cost? The random nomber generated has a uniform distribution?
    And other question is why we pick an empty spot to create the "Data Table"? The number created have a distribution?
    Thanks a lot! From Argentina

    • @excelisfun
      @excelisfun  9 лет назад +1

      +Agustin Velazquez , Yes, if you use a single random variable with a particular probability distributions and run a simulation, it should have that distribution.
      How does Data Table with Empty Cell work? Here:
      Data Table is a feature that copies many formulas down by substituting in a new input from the column based on a cell that is a formula input into the formula. Because the cell is an "Empty Cell" that is NOT a formula input in the formula being copied, Data Table tries to make a substitution, but it can't, and therefore it just copies formula down. Because it is a randomizing formula, every time it gets copied down a row, it randomizes. If you need to be reminded about how the Data Table feature works, see my earlier videos in this class here:
      ruclips.net/video/EWJPPUvJ7c8/видео.html
      and
      ruclips.net/video/3komnmHvglc/видео.html

    • @agustinvelazquez3871
      @agustinvelazquez3871 9 лет назад

      +ExcelIsFun excelent! Thanks!

  • @winnieip9851
    @winnieip9851 9 лет назад

    Hi Thanks very much. It is a useful & interesting monte carlo simulation. but I cant search for the highline BI 348 class for the subject file u use for demo. Pls instruct me how to get it right. thx
    Happy holidays & have a wonderful time !
    Winnie

    • @excelisfun
      @excelisfun  9 лет назад

      +Winnie Ip Click link below video, Ctrl + F (Find) then type "Business Analytics", this will bring you to the correct section. Otherwise, just scroll down through the hundreds of listings and look for Business Analytics section.

  • @zakariaabdulrashid6763
    @zakariaabdulrashid6763 7 лет назад

    Thanks

  • @mohammed333suliman
    @mohammed333suliman 9 лет назад

    Thanx ,Great

    • @excelisfun
      @excelisfun  9 лет назад +1

      +Mohammed Suleiman You are welcome!

  • @maxwellkfma
    @maxwellkfma 9 лет назад

    thanks!

    • @excelisfun
      @excelisfun  9 лет назад

      +maxwellkfma You are welcome!

  • @aklankrisz
    @aklankrisz 5 лет назад

    Why do you write "Monte" in the video name when it is Monti-Carlo ?

    • @excelisfun
      @excelisfun  5 лет назад

      Because I am human and make mistakes.

  • @georgebowen2935
    @georgebowen2935 4 года назад

    I got dizzy watching you thrash all over the screen. Just trying to see where you were. Why in the world did you multiply by 100 then divide by 100? All you had to do was format the decimal place.
    You made this way too complicated. The only people who could follow you already had a strong understanding of Monte Carlo simulations. You left thousands of newcomers totally bewildered