Best Practices for Creating Scenarios in Excel

Explanation:

Before you dive into creating a new scenario in Excel, it's crucial to follow some best practices to ensure smooth and efficient workflow. One of the key steps you should take is saving the current data in a worksheet as a scenario. This serves as a snapshot of your current data that you can refer back to at any point during your scenario creation process.

Importance of Saving Current Data:

Saving your current data as a scenario provides you with a safety net in case you need to backtrack or compare different scenarios. It's a good practice to save your work frequently to avoid data loss in unexpected situations.

Avoiding Data Loss:

By saving the current workbook before creating a new scenario, you mitigate the risk of losing any important information. Excel crashes or system failures can occur unexpectedly, so it's essential to have a backup of your work.

Options Analysis:

Option A (opening a new workbook) and Option B (switching to a new worksheet) are not necessary steps before creating a new scenario. You can work within the current workbook and worksheet to create your scenarios. Option D (inserting rows at the top for the new scenario) is also not required as you can create scenarios without inserting additional rows.

Remember, the best practice before creating a scenario in Excel is to save your current data in a worksheet as a scenario and save the workbook to prevent data loss.