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LifestyleMaster Scenario Analysis, Excel (Complete What-if Analysis)! (Udemy.com)
Complete Guide To Scenario Analyses (What-if) and Monte Carlo Simulation in Microsoft Excel -Business Analytics
Created by: Dr. Mohammad Habibi
Last updated July 2026
What you will learn
- Understand What Is Scenario Analysis in Business Context
- Explain When Scenario Analyses Can be Used
- Learn Implementing Scenario Analyses Using Microsoft Excel
- Learn How to Calculate Profit and Costs Including Fixed and Variable Costs
- Learn How to Use Data Table, Goal Seek, and Solver Commands in Excel
- Learn the Steps of Scenario Analyses
How it compares
Against the other 371 rated Udemy courses in Data Analysis on CourseDuck:
- Rating4.7 out of 5higher than 91% of them
- Reviews739#168 of 372 by number of reviews
- Length1.9 hoursshorter than 81% of them
- Last updatedJuly 2026more recently than 80% of them
Course Description
In this course three goals are pursued: 1- Learning Scenario Analysis and it's technics including but limited to Monte Carlo Simulation 2- Learning Microsoft Excel's scenario Analysis tools 3- and learning business analytics formula and parameters that are applicable in all business contexts and are essential for anyone involved in business, economics, and finance.
Scenario Analysis is a powerful planning and management technic to deal with various possible futures and make sure to achieve an acceptable outcome under different scenarios. This technic is used in business, finance, economics, politics, negotiations, and even military operations. The main argument of this technic is that when outlining a plan, our assumptions can change due to unpredicted events and therefore the outcomes can change. For this reasons, we need to count in different scenarios (through changes in assumptions) and study their impact on the outcomes. Essentially, scenario analysis is a method of dealing with randomness in life.
An advance technic of dealing with randomness is called Monte Carlo Simulation, which uses random sampling to predict and forecast future outcomes under numerous random scenarios. In this course, students will learn this powerful technic and learn how to implement a sample Monte Carlo Simulation using Microsoft Excel creatively. Also, Microsoft Excel Provides various powerful tools for scenario analysis including Goal Seek, Data Tables, Scenario Manager, and Solver.
In this course after learning the Scenario Analysis concept and applications, students first learn how to analyze and calculate profit and cost (including fixed and variable cost), how to calculate the Break Even volume, and how to form an Income Statement using Microsoft Excel. While calculating these important business metrics, students learn how to set up excel sheets to be ready for further scenario analyses. Then using excel tools such as Goal Seek, Data Table, and Solver, students implement some scenario analyses to achieve certain desired outcomes. Monte Carlo Simulation is offered at the end of the course as an advanced bonus for curious minds.
About the Instructor:
My name is Mohammad Habibi. I have a Ph.D. in business and have taught in various programs including undergrad and graduate (MBA) courses in different parts of the world such as US, Canada, Malaysia, and Iran. My teaching style is quick and to the point and I believe learning will occur while doing. If you have any questions please send me an email or connect with through LinkedIn.
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Instructor Details
- 4.7 Rating
739 Reviews
Dr. Mohammad Habibi
Dr. Habibi is an award winning marketing professor at one of the best and largest business schools in California, USA, as well as a best selling author and creator. He holds a Ph.D. in marketing and a Master’s degree in Management Information Technology. Habibi also has worked as a consultant to many local and international firms in order to help them strategize their marketing efforts, understand their customers, and improve their digital and marketing infrastructure. Habibi has a passion for education. He has more than 20 years of teaching experience in different institutions in various parts of the world including Iran, Malaysia, Canada, and the USA. Thanks to the online education he now has students in more than 140 countries in the world.
An investment in knowledge pays the best interest. – Benjamin Franklin
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Reviews
By Claire Bell on 4/17/2026
It was interesting and the practical walk throughs were useful. However, it would have been useful to have accompanying learning material to make it easier to revisit the learning content. I ended up asking AI to generate 'how to' guides for me. In addition, new Excel formulas were quickly introduced, with no way to reference them in the future apart from the practical worksheet.
By Susan Boyd on 2/6/2026
It was. Learned several things. Would like to have had the xls data tabs provided prior to training so I did not have to recreate during the training segments
By Gustavo Artica Cuyubamba on 9/16/2025
Never better explained. I'm environmental engineer and this topic never was taught me at university, now in my professional stage i'm in charge of evaluate the financial impact of the climate change risks in different companies. This course really open my mind to start to understand what I have to do, firstly organizing my differents hypothesis and also working with the accountant specialist that have the history data and knows the usual behavior of the variables. Thank you so much also for the sheets in excel these are very useful to me.
By Kerin Moodley on 8/6/2025
I especially found the Monte Carlo Simulation useful. I did find that if you split your assumptions and model into two different tabs, there is a cell reference error when trying to run Data Table. When I moved my assumptions and model into one Sheet, the Table was able to be created. Overall great learning and real-life applicability.
By Keshav S Nair on 6/27/2025
Absolutely amazing course on scenario analysis. Really crisp, concise, and to the point. Some really good and practical examples to try along. The Monte Carlo Simulation needs a bit more practice from my end to get a hang of, but that was a very good use case mentioned in the course.
By Alexis Roa on 5/9/2024
The information provided in this course taught me calculations and Excel skills I had not encountered before. The information I learned has become very valuable, especially in my current occupation.
By Allen Paras on 5/8/2024
The course was great; everything was provided and explained clearly. Following the Excel calculations was straightforward, and practicing the steps while watching the video helped me understand it more.
By Rabbi Baffoe on 2/9/2024
I took the course to have an idea on scenario analysis for a project. Dr. Mohammed did a great job with the course, and I am hoping I can put everything into practice. Thank you.
By Sung Lee on 2/16/2023
Great short videos covering all topics relating to scenario analysis. Wish the course goes into more details on Monte Carlo Simulation as there are ways to utilize distributions (triangular). Having said that the professor did a great job of explaining the concept.
By Jake Wolf on 11/17/2021
A great course explaining what scenario analyses is clearly, a topic that I have always been curious about. It is complex but the instructor makes it easy to understand with using many examples. Thanks
Quality Score
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Overall Score : 94 / 100
- Video Duration:
1.9h - Price: $59.99
- Provider: Udemy
- Updated:
July 2026 - Level:
Beginner - Language:
English - Certificate:
Yes
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