Microsoft Excel is one of the most useful business software applications ever created, helping businesses with a host of different activities like accounting and inventory, to name a few.
Few applications enjoy the market share that Microsoft excel has managed to experience over the years since its creation in 1985, which is currently nearly 90 percent of the market. With so much functionality, it shouldn’t be surprising that competition hasn’t surpassed the numbers tool.
Keep reading this guide to learn about the many benefits using MS Excel can bring to your company and why you should start using it today if you’re not already.
- Analyzing Data
One of the most obvious benefits of Microsoft Excel is the superior ability to analyze massive amounts of data into useful information that can be utilized to conquer several different tasks. The Excel software allows you to import data, organize it into spreadsheets, and interpret it in a way that makes sense.
Having the ability to interpret large data sets can provide businesses with tons of valuable information, giving them the ability to make more informed business decisions.
- Building Charts
Charts and other graphs can translate data to consumers or employees into an easy to interpret, visual representation. And the best part – it’s easy to set up and get started with.
Building great charts on Microsoft excel requires minimal effort. All you have to do is input the data into cells and adding the correct formula. You can also build charts by selecting “insert” and clicking “recommended charts,” and you can input data directly into the provided fields.
- Spot Trends
Having the ability to spot emerging trends can give businesses a significant advantage over the competition. Through conditional formatting, you can easily highlight patterns in data and view values that meet certain conditions.
For example, you can track sales throughout the year, and by inputting the data with conditional formatting, you can see a visual representation of sales trends throughout the year.
- Loaded with Powerful Tools
MS Excel is so beneficial for businesses partially because of all the powerful tools and resources that work with excel. A few popular tools to make your Excel experience easier include:
- Dropdown lists
- Conditional formating
- Flash fill
- And tables
Microsoft even allows you to build, customize, and style spreadsheets using excel net, an easier way to build projects using excel.
- Improved Efficiency
The more you work with excel, the better you will become at utilizing its resources and, in turn, will make your life and job much easier. Using excel in business can speed up certain processes that will improve efficiency and eliminate unnecessary steps.
Using Excel to sort through data, manage inventory, or even for scheduling purposes can save much needed time and resources the company can use elsewhere.
Benefits of Using MS Excel in Business: Expanded
MS Excel has been helping companies with various business aspects for over 30 years now and is looking more strongly positioned in the market than ever before. The powerful tools that come loaded with excel are becoming more advanced with added technology and software designed to increase the efficiency of varied business applications.
For more information on MS Excel and the many benefits it can bring to your business, check out the rest of our website!