Are you an Excel Whiz? Why You Should BeAssociation of Business Training
January 30, 2013 — 1,468 views
Microsoft Excel is precisely an application for spreadsheets, which forms one of the components of Microsoft Office. It allows the users to manipulate, use, and store data and also presents the data in the form of various graphs. Excel also has set formulas as well as an option for the users to create their own formulas.
Different Ways in which Excel can Help Management
Organize huge sets of data within spreadsheets
MS Excel can help in organizing huge volumes of data by importing them and saving them in the spreadsheets. By using Office Excel 2007, you can import huge volumes of data within a single spreadsheet with a maximum limit of 16000 columns and 1 million rows. The software quickly processes spreadsheets that involve formula-intensive calculations.
Identify Key Trends in Your Data
Excel enables the user to detect trends within the data through various methods like heat maps, performance indicator icons, data bars, as well as color gradients which are useful in business reports.
Work with Current and Secure Business Information
With Office Excel 2007 and the various services that it offers, the user can now share spreadsheets with other users in a secure manner. Excel 2007 users also have the extra freedom to navigate, input, filter, and sort the information based on various parameters and share it with others in their organization. They don’t need to go through outdated spreadsheets through a permission-based system, for viewing and modifying data.
Excel’s Charting Feature Makes Annual Reports Less Monotonous
The charting feature in Excel also enhances the visual appeal of reports by making them less monotonous, as all relevant data is depicted through colorful charts. If you are drafting a business document, then any infographic such as a bar graph or a pie chart can be used to help the audience grasp the information quickly.
Pull Out and Corral Data Easily
Excel is also a good tool for corralling information, particularly for business reports, as you can customize your data and omit the irrelevant figures. Excel has a very quick method of highlighting, analyzing, and deleting information due to its big filtering feature that is available to extract the information required for preparing the reports. You could customize the reports by segregating the parameters, and create individual reports from a single spreadsheet.
Save Time with Ready Reporting
Excel is a good way to transform information into something more modern and also save time while doing so. You could easily select a report template of your choice by selecting ‘File>New’ which will give you numerous options. By double-clicking on the ‘Reports’ button, you could choose various templates ranging from commission reports and budget summaries to liquidity analysis and balance sheets. The best part about these templates is that they can be customized as per your business requirements; you could also use the Macros and AutoSum feature that can perform calculations easily.
Leverage Formula Functionality
If you are currently using any other software for preparing reports, then switch over to Excel, as it is quicker and easier to use. You could easily perform accurate calculations by selecting the ‘Formulas’ tab in Excel. You could insert all the figures into the grid in Excel and use the AutoSum feature which would add together your numbers without errors.