Microsoft Excel has considerable responsibilities to play in our daily lives. It’s evident that most companies and organizations prefer using Excel analytics more than anything else, especially in the data processing. It is a simple and preferred option because it’s easy to use and user-friendly.
You don’t need to spend much time learning how to use Microsoft Excel. The software is simple to navigate through, and you can learn its basics within the shortest time possible. At work, you will always need a superior backup plan with your back covered. This is exactly what Excel can do for you!
The software is popularly used in business settings because it’s good at storing information and displaying visual reports. When information is stored in Excel, it’s easy to read since the tool uses the visual approach to display and outline the essential information.
Also, it’s one of the tools that fully support data visualization to break down technical content into a simple, readable format. Let’s get to business and evaluate the uses of Excel analytics in work life!
Managing Daily Operations
Excel is the most preferred option for managing daily operations within a job environment. When working with a huge team of top talents, you will likely experience challenges managing it, especially if you do not have a good management system. Excel offers a huge collaborative platform that can help you handle all management cases in the comfort of your office.
Even though developed companies such as Amazon use sophisticated custom software, Excel is the best option for small businesses and other businesses that cannot afford the expensive software. Excel analytics is known to be low-tech, making it easily used by many people simultaneously.
In addition, Excel does not have any cases of programming bugs. Remember that business activities rarely involve technical logistics that need to be addressed. With Excel, you can easily manage inventories and ensure that everything moves smoothly. It’s good at keeping records of suppliers, transactions, and client activities within the business.
Office Administration
If you have been in any job environment, you understand how office administration tasks can be overwhelming. As an office administrator, you need to keep a clear record of all the office activities carried out by your team members. Also, you need to plan the activities of the day to ensure that everybody has a clear understanding of their respective duties.
Microsoft Excel is the best option you can use to enter and store the data of office administrative data. The data you store can also be used for accounting and financial reporting purposes. Also, it’s applied in performance reporting and operations analysis. Rather than storing records, Excel is also used to facilitate daily office operations.
It can be applied in paying daily bills, contacting suppliers, and invoicing. It’s considered an all-in-one tool for record keeping within an office environment. Since Excel is a simple data visualization method, chances of misinterpreting data are minimal because every aspect is outlined clearly and easy to read without contradiction.
Project Management
Even though project managers have project management tools, the power of Excel is never left behind. Using an Excel workbook is a necessary aspect and a matter of concern that all project managers consider. Remember that a project usually has a start and end date. This means that you need to work within the given schedule.
However, you may miss the deadline if you do not have a good management system. Project managers use the project workbook, which is used to track and monitor the progress of the project. Also, it’s one way of scheduling all the project activities that will be carried out within a stipulated time frame.
Excel gives you more space where you can compose a Gantt chart that you can use to map the progress of the project in terms of the critical dates and duration. The good thing with using Excel is that you can easily share the workbook with your team members to let them understand your progress. Besides, your team members don’t need technical expertise to understand the workbook.
Management of Team Members
If you are working with a vast pool of talents, you need to have a unique management system. Managing your team members is not as easy as it may sound. You are responsible for ensuring that every team member does what they are supposed to do. Every individual should be accountable for whatever they are responsible for.
Excel spreadsheet offers you a simple way of organizing information about your team members. It doesn’t matter whether you are dealing with employees, customers, or supporters. The software has an expansive field where you can enter all your information and plan your activities accordingly. With Excel, you can store information about every team member and retrieve it when needed.
You can use the rows and columns in a spreadsheet to store information about a particular team member. You can store information such as their contact details and their job responsibilities. This is a simple approach that will help you to ensure that everybody in your team is accountable for all their duties. Also, it’s a way of ensuring that everybody contributes to achieving the required goals.
Performance Reporting
In every workplace, you need to file a performance report to monitor your progress. Also, this is one of the things done during company analysis. Microsoft Excel can help you analyze your company’s progress and file a performance report based on the findings. This is why most accounts are using Excel to facilitate their daily operations.
Excel is the easiest tool you can use to convert data and generate a performance report. You can easily compose a pivot table to help outline your performance data and file a performance report. When creating a pivot table in Excel, you will easily extract the essential information more accurately.
Note that a pivot table has multiple functions and features that make it easier to compose reports. You can as well use it to facilitate accounting and summing up data. The pivot table allows you to count and sum different data types and develop a reliable output. The report you generate at the end of the process can be applied in decision-making.
Business Analysis
Excel analytics plays a critical role in business analysis. This is one way of improving business performance by evaluating different aspects of the business performance. It’s a way of using the data collected within the business to make critical development decisions that impact the company’s progress.
Companies collect data from their daily operations. The data can be generated from the products sold, insurance claims, supplies, etc. Excel data visualization helps to transform the data into something useful that can be used in decision-making. In addition, it converts the data into a readable format that stakeholders can use when making business predictions.
You can decide to check on the profit the business has generated within a given time frame. This is meant to give you a real picture of the business’s progress. Also, it can help you improve on various aspects that may be pulling you behind.
Conclusion
When you carefully look at the list above, you will realize that there is something they all share in common. That is data visualization! Excel’s ability to visualize data elements and generate an easily readable report makes it the best tool within a work setting. Microsoft Excel is one of the oldest tools that many people across industries currently use. In addition, the tool has powerful data visualization features since it outlines everything clearly. You don’t need any technical expertise to interpret the data outlined in Excel. All the data elements are simple to understand, and anyone can use the software to facilitate their visualization needs.