From the course: Copilot in Excel: AI-Powered Financial Planning & Analysis

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Challenge: Analyzing variances between actual and plan

Challenge: Analyzing variances between actual and plan

From the course: Copilot in Excel: AI-Powered Financial Planning & Analysis

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Challenge: Analyzing variances between actual and plan

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(bright music) - [Instructor] We've now used Copilot, Copilot for Finance, Analyze Data, and ChatGPT for a whole multitude of different financial applications. Now, in this challenge, you'll be on your own. You'll work with Red30 Tech's forecast and actual labor expenses, specifically for the information technology department. Now, as you might expect, you will note that there are going to be some variances here. I'm going to pose to you the following challenges. Number one, calculate the variances between the forecast and actual using either Copilot or ChatGPT. Number two, highlight the three months where the variances were most sizable. and number three, provide possible explanations as to why there were variances in IT labor expenses, and what we might do from an operational side to address them. Use an AI tool to come up with ideas. Good luck.

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