Target Formula in Excel

We can always use Excel formulas for their initial purposes, but we can also deploy them for different purposes. If we are working in any company that targets profit (so, basically, for any company) and want to set targets, we can use existing Excel formulas to calculate them.

In the example below, we will do just that.

Target Formula in Excel

For this formula to work, we need to have a specific target value that is based on some input values. We will have a list of salespersons and their sales figures for the first quarter by month:

We will add the AVERAGE for the first three months (by simply putting the =AVERAGE(B2:D2) in the cell E2, and then dragging the formula till the end of the table:

And our target for April will be 10 percent higher than that figure. We will calculate the TARGET by using the following formula in cell F2:

We will drag the formula till the end of our range, and will end up with the following results:

We last need to get April numbers and compare them with the Target figures. We will do that by subtracting the two, and get the following results:

This way, we get to see who achieved the results and who did not.

So, although the integrated formula for Target does not exist in Excel, we can combine existing formulas to compare the target figures with the ones that were actually achieved.

Tomasz Decker is an Excel specialist, skilled in data analysis and financial modeling.