The Best Way to Run What-If Analysis in Google Sheets

Introduction: The Practical Way to Run What If analysis in Google Sheets

Anyone who has modeled in Excel understands how important What-If Data Tables are for sensitivity analysis. With a single setup, you can test how changes to one or two assumptions, such as revenue growth, churn, pricing, or exit multiples, affect the output you care about most. This is one of the fastest ways to assess risk, compare outcomes, and validate whether a model behaves sensibly under different assumptions.

In Excel, this functionality lives under What If analysis → Data Tables and is purpose-built for sensitivity analysis. It is separate from Goal Seek, which solves for a single input to reach a target value. Data Tables, by contrast, systematically loop through ranges of assumptions and populate structured results automatically.

Google Sheets does not offer a native equivalent to Excel’s Data Table feature. As a result, users attempting What If analysis in Google Sheets often resort to manually changing inputs or duplicating models, approaches that are slow, error-prone, and difficult to maintain in collaborative environments.

This is where SheetWhiz What-If Data Sensitivities fits in. It provides a practical way to run Excel-style one- and two-variable data table sensitivity analysis directly inside Google Sheets, using the same structure Excel users expect and triggering the workflow instantly with a shortcut. If you’ve already seen how SheetWhiz re-imagines Goal Seek in Google Sheets, the experience here will feel immediately familiar.

What Is What If analysis, Really?

At its simplest, What If analysis is the process of asking: “If this input changes, how does the result change?” We do this instinctively all the time. Before committing to a project, you might wonder whether it will take longer than expected or require more resources. These small mental checks help guide better decisions.

In spreadsheets, the same idea is applied using formulas instead of intuition. By adjusting assumptions such as growth rates, pricing, churn, unit costs, taxes, or interest rates, you can see how sensitive your results are to change. This is why what-if modeling plays such a central role in financial and operational analysis, where even small assumption changes can materially affect outcomes.

In Excel, this type of What If analysis is handled through different tools designed for different purposes. Data Tables are used specifically for data table sensitivity analysis, allowing you to test one or two variables across a defined range and automatically populate results in a structured table. Microsoft documents this distinction clearly in its guide on how to use the What-If Data Tables function in Excel.

Google Sheets, however, does not include native support for Data Tables. As a result, users attempting to run What-If Data Tables in Google Sheets often resort to manual input changes or duplicated models, making true sensitivity analysis harder to perform and maintain.

Sensitivity Analysis and Why It Matters

In spreadsheet modeling, What-If Data Tables are most commonly associated with sensitivity analysis. This means testing how changes in one variable, or sometimes two variables together, affect a single output you care about, such as revenue, profit, or returns. In practice, both “single-variable” and “two-variable” analyses are simply different forms of sensitivity analysis, not entirely separate concepts.

For example, you might test how changes in revenue growth alone affect returns, or how revenue growth and exit multiple together impact the outcome. In both cases, the goal is the same: understand how sensitive your model is to its key assumptions. This is exactly what Excel's what-if data tables feature is designed to do, and why they are so widely used by finance teams.

Sensitivity analysis matters because it turns assumptions into insight. Instead of guessing which variables drive outcomes, you can see the impact directly in a structured table. This makes it easier to evaluate risk, compare alternatives, and understand where small changes can have outsized effects. For readers who want a formal definition, Investopedia provides a clear overview of sensitivity analysis and how it’s used in financial modeling.

Why sensitivity analysis is valuable:

• It highlights which assumptions have the greatest impact on results

• It allows quick comparison across different input values

• It improves confidence in forecasts and planning decisions

• It helps identify risk before assumptions change in the real world

The video below shows how SheetWhiz What-If Data Sensitivities tool runs a one-variable sensitivity analysis directly inside Google Sheets, using the same structure analysts expect from Excel data tables. An output cell, internal rate of return, is sensitized against changes in a single assumption, the exit multiple. 

Unlike Excel, where this workflow is locked to desktop files, SheetWhiz delivers the same data table behavior in a cloud-based environment, automatically detecting the table range, linking the correct input cell with a click, and populating results instantly without formulas, macros, or manual reruns. This makes sensitivity analysis faster to set up, easier to maintain, and far more convenient for collaborative models.

Where Sensitivity Analysis Delivers the Most Value

Sensitivity analysis is not just a finance exercise. It becomes most valuable when decisions depend on assumptions that are uncertain or likely to change. Instead of debating forecasts abstractly, sensitivity tables show how outcomes respond as inputs move up or down, allowing teams to gain conviction that even in bear scenarios, they can still expect a certain return or outcome.

In practice, teams use sensitivity analysis to answer questions like:

• How much does growth need to slow before returns materially change?

• Which assumption actually drives most of the risk in this model?

• Are we more exposed to pricing changes or cost increases?

• What range of outcomes should we plan around, not just a single forecast?

By presenting results in a structured table, sensitivity analysis replaces guesswork with transparency. This is why Excel data tables have long been a standard tool in investment analysis, budgeting, and forecasting, and why bringing that same capability into Google Sheets matters for teams that collaborate in the cloud.

Google Sheets Doesn’t Have True What-If Tools

Excel users rely on Data Tables to automate sensitivity analysis by looping through one or two assumptions and returning a structured table of results. This functionality is built directly into Excel and is widely used for financial, operational, and investment modeling.

Google Sheets, by contrast, does not include a native equivalent to Excel’s Data Table feature. While Sheets supports formulas and manual input changes, it does not provide a built-in way to generate one- or two-variable sensitivity tables automatically, which makes structured What If analysis significantly harder to perform at scale.

How SheetWhiz Enables Secure Sensitivity Analysis in Google Sheets

SheetWhiz was built to solve a specific gap in Google Sheets: the lack of a native, reliable way to run Excel-style Data Table sensitivity analysis. Instead of relying on third-party add-ons with broad permissions or manually recreating Excel workflows, SheetWhiz enables structured sensitivity analysis directly inside Google Sheets.

Security is a core reason many existing extensions fall short. Sensitivity analysis tools require access to spreadsheet data, which can introduce risk if permissions and controls are unclear. SheetWhiz is SOC 2 Type II compliant, meaning its systems and data-handling practices have been independently audited for security, availability, and confidentiality. This allows teams to run advanced analysis without exposing their models. Full details are available in the SheetWhiz trust center.

SheetWhiz focuses specifically on Data Table-based sensitivity analysis, supporting:

• One-variable sensitivity tables for testing a single assumption

• Two-variable data table sensitivity analysis for evaluating combined assumption changes

The tool automatically detects table structure and input cells based on where you click, then populates results without altering formulas or requiring scripts. Sensitivities are triggered instantly using a keyboard shortcut that is the same as Excel:

• Mac: Option + A + W + T

• Windows: Alt + A + W + T

This delivers the same analytical power as Excel data tables, while remaining secure, cloud-native, and easy to maintain in collaborative Google Sheets models. Everything works directly in your sheet.

You can explore additional tools, like merging and unmerging cells, adding Excel-style filters, or using Paste Special here.

A Real Example: What If analysis on a Private Equity Model 

The video below walks through a practical example using a leveraged buyout (LBO)–style returns model. It demonstrates how sensitivity analysis is applied to understand how changes in key assumptions affect outcomes such as internal rate of return and multiples.

We walk you through a simple LBO model:

• Input variable: Annual revenue growth

• Output: A combined IRR and money-on-money return cell

• Range tested: 7% to 13%

• Process: Select the table → run Data Sensitivities → SheetWhiz fills all values

As it shows in the tutorial:

“We plug each assumption from the row or column into the model, let it recalculate, and populate the table automatically, exactly like Excel’s Data Table function.”

We then expand to a two-variable sensitivity, testing both:

• Annual revenue growth

• Exit multiple

SheetWhiz cycles through every combination, producing a clean matrix of return outcomes in seconds, no scripting, no add-ons, no manual re-running.

This is exactly the type of modeling analysts attempt in Excel What-If Data Tables, now available directly inside Google Sheets through SheetWhiz.

If you want personalized help with sensitivities, you can always contact the team at:david@sheetwhiz.com or through our Contact Us page.

Why Teams Use SheetWhiz for Sensitivity Analysis

SheetWhiz was designed to make Data table-based sensitivity analysis practical inside Google Sheets, without changing how models are built. Rather than recreating Excel workflows manually or relying on sketchy third-party extensions, it provides a secure, reliable way to analyze how key assumptions affect outcomes using a familiar table structure.

Teams use SheetWhiz because it is:

• Consistent with Excel Data Tables, making it easy for experienced analysts to adopt

• Fast to run, triggered with a shortcut instead of repeated manual input changes and autofills information based on the range and cells selected, similar to Excel

• Usable across linked sheets, which is common in financial and operational models

• Formula-safe, meaning it temporarily applies inputs, captures outputs, and leaves formulas unchanged

If you want to add the SheetWhiz extension directly, tap here, and to explore all tools in the Pro Plan, including the redesigned Goal Seek and more, you can check pricing here.

Final Thoughts

Anyone who needs a What-If Data Tables tool in Google Sheets should use SheetWhiz, as Google Sheets does not support this feature out of the box today. While Sheets excels at collaboration, it lacks a native equivalent to Excel’s Data Table feature, making structured What If analysis harder to execute and maintain. Workarounds exist, but they are often manual, unreliable, or introduce security concerns.

SheetWhiz addresses this gap by enabling Excel-style data table sensitivity analysis directly within Google Sheets. It allows teams to analyze assumptions with clarity and consistency, using a workflow that feels familiar to Excel users while remaining practical for cloud-based models.

FAQs

Does Google Sheets have built-in What-If or Data Table tools?

Google Sheets does not include a native equivalent to Excel’s Data Table feature for sensitivity analysis.

Can SheetWhiz run both one-variable and two-variable sensitivities?

Yes. SheetWhiz supports both one-variable and two-variable data table sensitivity analysis, following the same structure and logic as Excel Data Tables.

Do I need to install anything to use SheetWhiz?

Yes. SheetWhiz must be installed. Install it and reload a Google sheet, and you will be able to use what-if scenarios as well as other features like trace precedents, trace dependents, goal seek, and much more.

Will SheetWhiz change my formulas or model structure?

No. SheetWhiz temporarily applies input values, captures the resulting outputs, and populates the sensitivity table. Your underlying formulas remain unchanged.