Nowadays, business has transformed into a highly competitive market on account of several technological breakthroughs. Numerous types of software, tools and different guides are being used to gain an edge over competitors. Microsoft Excel which brought an ocean of change in business management and productivity is still popular due to loads of new added features and upgrades. The possibilities with Microsoft Excel for business use are quite immense ranging from budgeting to forecasting. This is why every employee in a business with little understanding of this software should enroll in excel training classes in order to gain a simple understanding of excel. Well, if you are a businessman, then you might be interested in embracing some amazing uses of Excel into your business. Is not it? Listed here are 5 popular business uses for Microsoft Excel.
Loads and loads of data is generated in the world per second. The daunting task of analysing a large amount of data can be managed with the aid of Microsoft Excel. Excel can be the one-stop solution to segregate certain segments of data from a large set. Desired data fields can be obtained by applying filters to create comprehensive summary reports. Pivot Tables feature goes a long way in managing data analytics. Well, if you are not aware of such functions then you can learn excel from a professional or websites.
Excel is a robust tool when it comes to creating business schedules. Chalking out a day-to-day business calendar with specific time slots is the need of every business organisation and Excel has the necessary features for this. Task lists can be devised on Excel to form a clear view of the tasks that the organisation needs to accomplish. Goal planning worksheets and checklists also help keep a check on the various plans and objectives that the business has to perform.
Excel is utilized by a large number of companies for various accounting functions. Loan calculations, budget planning, financial reports and much more can be done by Microsoft Excel. The software has in-built calculating and formula processors that help to organise results and calculating data. The vast number of spreadsheet templates makes these processes easier and less time-consuming as well.
Microsoft Excel has a wide array of charts, tables and graphs that can make effective data reports for business companies and conglomerates. Pivot tables, pie charts and several other functions are at the user’s disposal to create any form of report according to their right fit and data type. Excel again forms a variety of chart, graphs templates that can be adjusted in colour, axis and more for the tailor-made projection. Marketing campaign reports, business endeavour reports etc. are some of the tasks that the report making features of Microsoft Excel is used for.
Excel is very efficient when it comes to data entry and storage. Worksheets of Excel have an astronomical 1,048,576 rows and 16,384 columns for large amounts of data computing and storing. Mailing lists of customers, employee shift list etc. can be made with Microsoft Excel. Various features like data form make data easy to insert and view. Customized data entry can also be devised for a perfect fit to specific business needs.
The world of Microsoft Excel is quite vast with its plethora of features that can be of immense help for the various functions that businesses perform.