What is Solver?

Solver is a cloud-based Corporate Performance Management (CPM) solution that aids businesses in various financial processes. It serves as a comprehensive tool for budgeting, forecasting, reporting, consolidation, analysis, and planning. As a multifaceted tool, Solver also functions as a data warehouse and data integration tool, which allows for the storage and management of company data from different sources in one centralized location.

In addition to its core functions, Solver natively integrates with Excel, enhancing the user experience by leveraging familiar spreadsheet functionalities. It offers quick and efficient deployment options, including a 1-day deployment, and comes equipped with over 100 pre-built reports, forms, and dashboards, facilitating a rapid start. Solver's automated integrations further streamline the data management processes, saving time by migrating reports from other report writers.

Solver enhances decision-making and strategic planning by providing a user-friendly interface and tools such as its ETL (Extract, Transform, Load) tool, which automates data loading, thus eliminating manual steps. The integration capabilities extend to platforms like Acumatica, Microsoft Dynamics, NetSuite, Quickbooks Online, and Salesforce. Additionally, Solver's Power BI connector allows for seamless transfer of data to Power BI for creating professional dashboards, and its menu-driven configuration simplifies the customization of accounts, dimensions, and other financial data structures.

The Solver Data Warehouse is a next-generation solution based on the Microsoft SQL Azure platform designed to streamline the data storage and analysis processes for business users. It can reconcile multi-company financials and bring together data sources for comprehensive analyses. With its business-friendly approach, the Solver Data Warehouse enables team members to access and manage all of a company's business data in one place, with a variety of easy-to-use features and pre-configured modules to enhance productivity.

Solver Plugins for Excel

Introduction to Solver Add-in

The Solver Add-in is a program included with Microsoft Office Excel, which is accessible upon installation of Microsoft Office or Excel. Developed by Frontline Systems, this add-in is free and can be downloaded from the Office Store. It is compatible with versions of Excel from 2013 with SP1 onwards. As a powerful tool, Solver is pre-installed and ready to assist users in defining and solving optimization problems within Excel.

Using Solver for Optimization

Solver is a valuable add-in used for what-if analysis in Excel. It is designed to identify the maximum or minimum value of a formula within a target cell, referred to as the optimal cell value, which is essential in scenarios like maximizing profits. For Solver to function correctly, the objective cell, or target cell, must contain a formula, and the variable cells need to be connected to it. Solver offers three algorithms to cater to different types of problems: GRG Nonlinear, LP Simplex, and Evolutionary. The GRG method is the default and most commonly used for Excel functions, while the Simplex LP method addresses linear programming issues, and the Evolutionary method suits models with complex functions such as IF, CHOOSE, or LOOKUP that depend on the decision variable cells.

Compatibility with Excel Functions and Add-ins

Solver is versatile and works efficiently with the majority of Excel functions, enhancing its capability as an optimization tool. Additionally, Solver's functionality is complemented by compatibility with other Excel add-ins like PowerPivot, allowing for more advanced data analysis and optimization tasks. By integrating Solver with these powerful Excel features, users can significantly extend their data analysis and problem-solving capabilities.

Common Use Cases

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  Maximizing investment returns by finding the optimal allocation of resources
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  Optimizing advertising budgets to achieve the best possible outcomes
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  Creating efficient work schedules that comply with employee time-off requests
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  Minimizing delivery costs while meeting logistical constraints
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  Determining the most cost-effective group of players for a sports team to sign within performance objectives

Frequently Asked Questions

What is the Solver plugin for Excel and what is it used for?

Solver is an add-in program used for what-if analysis that helps users with optimization problems by finding an optimal value for a formula in one cell, subject to constraints on decision variable cells.

How do I activate the Solver plugin in Excel?

To activate Solver, it must be loaded in Excel. Once installed, the Solver command appears in the Analysis group on the Data tab. Solver must be activated as an add-in within Excel.

Can Solver handle different types of optimization problems?

Yes, Solver can handle a variety of optimization problem types including linear programming, quadratic programming, mixed-integer programming, and more.

What are the limitations on decision variables in Solver?

Up to 200 variable cells can be specified in Solver for optimization problems.

Where can I find help or information about the Solver plugin?

Information about Solver can be found in the Office Store or provided by Frontline Systems, which offers detailed help for Solver.