5 Key Advantages of using Microsoft Excel in your Business

Microsoft Excel is a very flexible and productive Business application that can be used in many Business situations.

If we look at Excel we can see that there are key advantages to using Excel on daily basis. These include:

  1. Easy to enter and format data
  2. Ability to create graphical or visual representations of your data
  3. Can work quickly in analysing large amounts of data
  4. Easy to integrate Excel with other business applications
  5. Can be used for what if analysis and decision making

 

Easy to enter and format data

With the new Ribbon interface in Microsoft Excel we now have a more streamlined option when entering and formatting data. Whether we are working with text or values or Home tab or ribbon contains all the relevant options we need. So without much tuition we can create easy, straight forward spreadsheets.

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Ability to create graphical or visual representations of your data

Excel has improved on its Charting and graphical representation of data with added chart formats and designs as well as improved Pivot Charts. We also have the ability to insert small miniature charts in Cells called “Sparklines” which can give a quick overview.

Can work quickly in analysing large amounts of data

In Microsoft Excel, worksheets can contain thousands of rows of data in the form of records and multiple columns in the form of fields.
We can get a quick overview by sorting and summarizing the data and we can also use Pivot tables to group and filter out useful information.

Can be used for what if analysis and decision making

When it comes to decision making we may need to perform some sensitivity analysis on our business data. Microsoft Excel provides tools such as What if Analysis, Scenarios, Data Tables and Pivot Tables to give us the ability to make an informed decision.

Easy to integrate Excel with other business applications

As Microsoft Excel has changed format over the last few years it has also become easier to integrate excel data into other applications such as Microsoft Office, web applications, etc.

We can now edit and work with our Excel spreadsheet through Cloud computing and access our work through various mobile devices with tablets and Smartphones.

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