Excel is an electronic spreadsheet program used for storing, organising and manipulating data. It a tool favoured by the business community to convert raw data into meaningful information. The power of Excel for business means it is an essential skill for many in today’s data-driven world.
Many of us shy away from Microsoft Excel until there is a critical business need and then we scramble to find somebody in our network with the skills to deliver the results.
In the following post, we will look at some good reasons why learning how to master Excel could be beneficial to your career and business.
Have you given much thought as to what might happen if we were to rely on just our fingers to work out calculations rather than a calculator? Using Excel for the same calculations, however, takes a lot less time and can help you learn particularly useful formulas that can make even the most complicated calculation seem quite natural. Excel does everything from calculating daily spending to taxes on sales.
Keep Track and Record
Microsoft Excel has a database that allows you to keep track of information that is both related to business and not. So, if you are looking for a place to store contact numbers, collections of cards or even books, you can use Microsoft Excel.
Useful for any Field
Many people are under the misconception that Excel is designed for business use only. However, the truth is that it will do a sterling job in just about any field. Sure, a businessperson can create a database of stock and keep track of sales, but a teacher can also use it to make report cards and to compare their student’s performance. Furthermore, a scientist could use Excel to show the homogeneity of a data set and a stay-at-home mum could use the spreadsheet to create a budget and monitor household spending.
Easy Way to Make Tables
It’s true that you can use Word to make tables, but Excel makes the job a little simpler and quicker by using formulas. You also have the option to select dates, calculate averages, assign colours for each column and row and so much more.
Graph and Chart Creation
Along with tables, you can also create a wide variety of charts and graphs like pie, bar and many more. The colour coordination can be assigned so that it represents anything in both a visually appealing and professional manner. Excel, for example, can be utilised to show the progress of your business to someone.
Accounting and Finance
Most businesses these days have computer screens full of spreadsheets that outline everything from the company’s budget, monthly profits and plans. In addition to the more basic mathematics, Excel can also be used for more advanced IF calculations when paired with pivot tables, INDEX-MATCH-MATCH and VLOOKUP.
As we hope you can see, there are a lot of ways it is beneficial to become a Microsoft Excel master. It is a time-saving and easy way to get many of our day-to-day tasks done more effectively.