15/03/2019
Using Microsoft Excel In The Workplace
Microsoft Excel is an indispensable tool for any business. We all use it, either to create Reports for our boss or to track our daily business activities.
Most Employees however struggle to use Excel.
Excel is ideal for Storing, Analyzing & Presenting Business Data. Below I'll explain each of these in more detail:
1) Storing Data:
Microsoft Excel is the No. 1 Business Tool for storing Company Information - from Textual data like Employee Records, to Numerical Data like Sales Numbers; spreadsheets like Excel provide an affordable "Notepad" to store data.
Employees can take advantage of "Excel's Data Form Functionality" to ease the process of entering data into Excel.
Data Forms provide a user friendly way of entering data into a spreadsheet without having to scroll through cells.
2)Analyzing Data:
Microsoft Excel has inbuilt formulas that enable employees better analyze & retrieve data.
For Instance, Monthly Sales Records can be analyzed to obtain: Top Selling Products, Top Customers, Top Salespersons, Top Selling Month. Basically enabling you draw insight from numbers.
Excel Pivot Tables enable employees summarize & analyze large Data Sets with simple button clicks.
Textual Data functionalities can be added to assist with data retrieval. The employee can easily & quickly (both useful in determining efficiency) extract any business data -
a) Customer's Contact Information
b) Patient's Medical Record Number
c) Product's Rack/bin Storage Location, etc.
This not only saves you time, it increases your efficiency making you more productive.
3) Presenting Data:
In addition to analytics, Microsoft Excel supports the creation of Charts, Graphs and other illustrations.
As the Idiom says "a Picture is worth a thousand words". Charts easily depict trends and make "sense" of numbers.
Humans are generally able to infer meaning from these quicker than from figures.
Presenting information into Graphs allows employees visualize the info, helping them understand it better.
For instance: plotting Monthly Turnover figures or Product Sales Numbers allow companies compare progress over time, easily spotting upwards & downward trends
Graphics also give life to Reports & Presentations. All Employees at some point have to create reports, either to present to their team, or to submit to their superiors. Either way Microsoft Excel steps in as the tool for the job.
- Using Percentages to present Sales Target achieved;
- Using SUM & other aggregate functions to calculate Total Income generated, Sales Income per category;
- Using Bar & Column Charts when presenting budgets, Actuals vs Proposed Spending;
Excel is an immensely Complex Business Tool that has many more functionalities than listed above. However it's flexible nature enables Users mould it to suit their specific business needs.