Hello @diego.mvo5, You are most welcome. Thanks for watching our video. Your appreciation means a lot to us. Glad to hear that this tutorial was a great help to your work. Keep learning Excel with ExcelDemy! Regards ExcelDemy
Great video! With the 'rank' example... how have you determined the weight values used this method? Should these total a specific amount or percentage?
Hello @tahneebaker376, Thanks for your appreciation. The weight values are not fixed these are given based on the importance of the criteria. The total should be 100. When determining weight values while ranking employees, the specific criteria and the importance of each depend on organizational goals and role requirements. Generally, the criteria are performance metrics, skills proficiency, teamwork, leadership, innovation, etc.
Really great tutorial. I noticed in all examples you have used Sumproduct divided by Sum to get the weighted average, except for the example with employee rank where u only used Sumproduct. Why is that?
Dear, Thanks for your question! We use the SUMPRODUCT divided by SUM in the examples to calculate the weighted average. However, when it comes to employee ranking, we only use the SUMPRODUCT. This is because we are calculating each employee's total weighted score. As we are not trying to find an average, dividing by the sum of weights is unnecessary.
Dear, Thanks for your questions! YES, you can easily apply a score between 1 and 5 (1 being the best, 5 being the worst) within the existing model mentioned in the first example. To do so, you do not need to change the formula. However, remember to ensure the sum of the weights equals 100% or 1 in decimal representation. We have demonstrated your situation in an Excel file. You can download the file: www.exceldemy.com/wp-content/uploads/2024/06/Joe-LaFond-SOLVED.xlsx
@@exceldemy2006 Thank you for your response to my question. I took a look at your solution, and it was close, but no cigar. I'm not trying to determine what the weighted average of the scores are, I'm trying to apply a score (between 1-5) to each row, based on the row's weight value. So the row with the highest percentage share will get a score of 1 (the best), the row with the lowest percentage share will get a score of 5 (the worst), and the rows between those two are where I'm having problems figuring out how to apply a score to. I hope that makes more sense.
@@justsayjoe9634 Dear, Thanks for your kind words! You want to assign scores (between 1 and 5) to each row based on its weight value. Please check the following: www.exceldemy.com/wp-content/uploads/2024/06/Assigning-scores-between-1-and-5-to-each-row-based-on-its-weight-value.gif You can download the workbook: www.exceldemy.com/wp-content/uploads/2024/06/Joe-LaFond-SOLVED-1.xlsx Improved Excel Formula: =COUNTA($C$5:$C$9)-RANK.EQ(C5, $C$5:$C$9, 1)
Underrated Tutorial
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Thanks for this tutorial. It was of great help for a task I'm working on.
Hello @diego.mvo5,
You are most welcome. Thanks for watching our video. Your appreciation means a lot to us. Glad to hear that this tutorial was a great help to your work.
Keep learning Excel with ExcelDemy!
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ExcelDemy
Excellent tutorial!
VERY GOOD TUTORIAL.
Glad you think so!
Great video! With the 'rank' example... how have you determined the weight values used this method? Should these total a specific amount or percentage?
Hello @tahneebaker376,
Thanks for your appreciation. The weight values are not fixed these are given based on the importance of the criteria. The total should be 100.
When determining weight values while ranking employees, the specific criteria and the importance of each depend on organizational goals and role requirements.
Generally, the criteria are performance metrics, skills proficiency, teamwork, leadership, innovation, etc.
Really great tutorial. I noticed in all examples you have used Sumproduct divided by Sum to get the weighted average, except for the example with employee rank where u only used Sumproduct. Why is that?
Dear, Thanks for your question! We use the SUMPRODUCT divided by SUM in the examples to calculate the weighted average. However, when it comes to employee ranking, we only use the SUMPRODUCT. This is because we are calculating each employee's total weighted score. As we are not trying to find an average, dividing by the sum of weights is unnecessary.
Magnificent
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You are most welcome. Please stay connected with us.
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How do you apply a Score between 1-5 (1 being the best, 5 being the worst) based upon each row's weighted value of the total?
Dear, Thanks for your questions! YES, you can easily apply a score between 1 and 5 (1 being the best, 5 being the worst) within the existing model mentioned in the first example. To do so, you do not need to change the formula. However, remember to ensure the sum of the weights equals 100% or 1 in decimal representation.
We have demonstrated your situation in an Excel file. You can download the file: www.exceldemy.com/wp-content/uploads/2024/06/Joe-LaFond-SOLVED.xlsx
@@exceldemy2006 Thank you for your response to my question. I took a look at your solution, and it was close, but no cigar. I'm not trying to determine what the weighted average of the scores are, I'm trying to apply a score (between 1-5) to each row, based on the row's weight value. So the row with the highest percentage share will get a score of 1 (the best), the row with the lowest percentage share will get a score of 5 (the worst), and the rows between those two are where I'm having problems figuring out how to apply a score to. I hope that makes more sense.
@@justsayjoe9634 Dear, Thanks for your kind words!
You want to assign scores (between 1 and 5) to each row based on its weight value. Please check the following: www.exceldemy.com/wp-content/uploads/2024/06/Assigning-scores-between-1-and-5-to-each-row-based-on-its-weight-value.gif
You can download the workbook: www.exceldemy.com/wp-content/uploads/2024/06/Joe-LaFond-SOLVED-1.xlsx
Improved Excel Formula: =COUNTA($C$5:$C$9)-RANK.EQ(C5, $C$5:$C$9, 1)