When working on multiple sheets 3D Formula in Excel helps to work smart and saves time while creating summary. It is one of the very useful Excel tips and tricks one must know to save enormous amount of time.
#Optimization#ProductionPlan#MaximizeProfit
Optimization models for decision making is very important on #business point of view, primary objective of any business is to maximize profit and minimize cost. Optimization models and methods are effective and help businesses to achieve their objectives.
Production plan plays a vital role in any #manufacturing company in maximizing production considering constraints at minimum cost and achieving maximum profit or maximum #production to the company. Applying optimization techniques in production planning will surely helps the company to maximize their profit with available resources.
Video shows how to Maximize profit using linear programming through excel solver, maximize profit in business will become easy task. Minimize cost can also achieved through Optimization model excel
Optimization Model - Production Planning - Maximize Profit - Part 1 : https://youtu.be/MT0_Zg1wDlo
Optimization Model - Production Planning - Maximize Profit - Part 2 :
https://youtu.be/bDcHQXVR620
In Part 3, we have worked on maximizing profit considering man power as additional constraints also used excel solver to find minimum man power to be employed to maximize profit further explained the impact of each constraints on profit margin.
00:00 Introduction
01:27 Maximize profit with fixed number of machines
05:07 Finding Optimum Number of machines to maximize profit
08:43 Revising all four scenarios of Production Plan
09:15 Conclusion
If you have any queries, please post it in comment section...
#Correlation#StockAnalysis#GoogleColab
Correlation explains the relationship between two variables, Correlation coefficient is a measure to define the strength of relationship between variables. Correlation coefficient lies between -1 to +1.
Google Colab Python is used to calculate Correlation Coefficient with simple codes. Correlation matrix / Correlation Plot creation is explained in this video.
Application of Correlation in stock analysis with real time example explaining correlation between Sensex and TCS price is explained in the video.
00:00 Correlation
01:58 Correlation Matrix
05:42 Correlation plot / Correlation heatmap
11:50 Correlation application on Stock Analysis
14:42 Conclusion
Google Colab Python Playlist - https://www.youtube.com/watch?v=pedhtDm-qhc&list=PLIo8gVJ3Lwqhq_C0-OrWxxJsCpAgNYMNi
If you have any queries, please post it in comment section.
#NestedIF#Vlookup#Excel
As a part of Excel tips and tricks we have posted this video - Nested IF Vs Vlookup Vs Lookup, all three functions give similar results which you can learn and apply based on your comfortability.
Nested IF formula looks longer compared to Vlookup and #Lookup formula. Vlookup requires an array / table of conditions to return result. People who are finding difficult in using Nested IF formula then they may use Vlookup or lookup formula in Excel.
00:00 Introduction
01:03 Nested IF Function
02:51 Vlookup Function
05:08 Lookup function
06:36 Data Validation
08:35 Conclusion
Excel tips and tricks Playlist - https://www.youtube.com/watch?v=6xjqhQXHGMg&list=PLIo8gVJ3LwqhkLGdoyZWW1UTKUT2jGXHV
If you have any queries, please post it in comment section...
#Optimization#ProductionPlan#MaximizeProfit
Optimization models for decision making is very important on #business point of view, primary objective of any business is to maximize profit and minimize cost. Optimization models and methods are effective and help businesses to achieve their objectives.
Production plan plays a vital role in any #manufacturing company in maximizing production considering constraints at minimum cost and achieving maximum profit or maximum #production to the company. Applying optimization techniques in production planning will surely helps the company to maximize their profit with available resources.
Video shows how to Maximize profit using linear programming through excel solver, maximize profit in business will become easy task. Minimize cost can also achieved through Optimization model excel
Optimization Model - Production Planning - Maximize Profit - Part 1 : https://youtu.be/MT0_Zg1wDlo
In Part 2, we have worked on maximizing profit by increasing number of machines to ensure biscuit manufacturing at the rate of 3 tons per hour, further we have shown how to utilize excel solver to find optimum number of machines to maximize profit with the available inventory.
00:00 Introduction
01:27 Maximize profit with fixed number of machines
05:07 Finding Optimum Number of machines to maximize profit
08:43 Revising all four scenarios of Production Plan
09:15 Conclusion
If you have any queries, please post it in comment section or at our blog - https://pakuppaivu.blogspot.com
Creating Box plot / whisker's plot and histogram using Google Colab #python will become simple task after watching this video. We have explained the need to use Python for chart preparation on comparison to Spreadsheet as Python helps to create charts with better visualization by writing simple codes and also it saves time which in turn will improve the productivity of Data #Analysts.
Histogram and Box plot plays a vital role in Descriptive Statistics. Both plots are used to visualized the spread range of data. Histogram shows the frequency in bar graph format whereas box plot is representation of the distribution of a variable through its quartiles.
Various types of #distribution in histogram - a) Normal Distribution, b)Right Skewed / Positively Skewed distribution, c) Left Skewed / Negatively Skewed distribution
Some the important things we need to know about box plots are,
a) Inter-Quartile Range (IQR) :Central 50% data spread, 25th Percentile to 75th Percentile of data spread. i.e., IQR = Value of 75th Percentile - Value of 25th Percentile
b) Upper Control Limit (UCL) : 75th Percentile + 1.5*IQR or Maximum
c) Lower Control Limit (LCL) : 25th Percentile - 1.5*IQR or Minimum
d) Outliers: Any value above upper control limit and any value below lower control limit
We have explained all the above statistical details related to histogram and box plot in this video.
00:00 Introduction
01:23 Creating Histogram in Google Colab Python
04:32 Right Skewed & Left Skewed Histogram
06:49 Creating Box Plot in Google Colab Python
11:56 Box plot showing relationship
14:41 Conclusion
If you have any queries please post it in comment section or at our blog - https://pakuppaivu.blogspot.com
Optimization models for decision making is very important on #business point of view, primary objective of any business is to maximize profit and minimize cost. Optimization models and methods are effective and help businesses to achieve their objectives.
Production Plan plays a vital role in any #manufacturing company in maximizing production considering constraints at minimum cost and achieving maximum profit or maximum #production to the company. Applying optimization techniques in production planning will surely helps the company to maximize their profit with available resources.
00:00 What is #Optimization?
01:10 Explaining Business Case
02:36 Building Optimization Model
04:48 Production Plan for Optimizing / Maximizing Profit with Inventory Constraint
08:10 Maximizing Profit with Inventory and Machine constraints
12:48 Impact of additional constraint on profit explained
14:01 Conclusion
If you have any queries, please post it in comment section or at our blog - https://pakuppaivu.blogspot.com
