On Course for Success

Business

Importance of Excel in Business

Importance of Excel in Business

The Importance Of Excel In Businesses Today

Excel has come a long way since it was released by Microsoft back in 1985. Despite it’s unquestionable importance it had at that time, many people and businesses are wondering if they should continue to use Excel or if there is a better tool that is able to replace it.

Keeping things short, there are many different tools that can, together, replace Excel. However, there’s no one single tool or software that is able to replace Excel completely.

Here are 4 reasons why you should continue to use Excel in your business:
#1: Most Businesses Use Excel:

Although you may think this isn’t a real reason (just because everyone’s doing it it doesn’t mean I need to do it as well), the truth is that it will be a lot easier when you need to share some data with another business. When you both use the same software, the data exchange will be quicker and easier.

#2: Excel Is A Lot More Than A Spreadsheet:

Besides being a spreadsheet, Excel is, above all, a problem-solving tool. Although accountants use Excel simply as spreadsheets, the fact is that Excel can and is used for many other things. You can use it to send out emails, lists that need to be reconciled with other sources, create information for PowerPoint presentations automatically, just to mention a few.

#3: Excel Is A Time Saver:

When you know how to use Excel, it can be a real time saver. However, this is one of the main problems that businesses have. Their own employees only know the basic stuff that Excel offers. Luckily, there are great Excel Courses that will teach them how they can take the most advantage out of Excel and still have a lot of time to do more important things.

#4: Looking At Your Data:

You know that there isn’t small data anymore when we’re talking about a business. There is data about every single aspect of your business that needs to be processed and analysed. This is one of the few software that is usually accepted when you need to import and analyse your data.

Excel is an amazing software that you can use that will save you a lot of time and will make your life easier. And this becomes especially true when you have a small or medium-size business. So, in case you or your employees don’t have a good knowledge of Excel (you just have the basics), make sure that you get you and them an Excel Training Course that will teach you how you can actually do everything you already do in less time, with a better quality, and still have time to do other important things within your business.

Excel in Business

Excel in Business
Excel Spreadsheets in Business

There are many uses of Excel at work:

Charts and Graphs

They say a picture paints a thousand words, I say a chart paints a thousand numbers. Excel charts are an ideal way to demonstrate comparisons, trends, proportions and so on without showing the numbers. Its all about selecting the right type of chart and how that is display. Presenting charts is a very powerful way to get a message across. The chart can add much more meaning to the data.

Data in One Place

Data from various sources can be brought together into one place or one report, making it easier to understand how the various parts of the company effect each other. It’s much easier to send one spreadsheet report or chart that shows everything than keeping them separate and then asking staff to understand. Learning how to import data, analysing it and displaying it in an easy to understand way really helps with decision making etc.

Formatting Data

Formatting data is an ideal way to help our eyes focus on the important parts of the data. Excel uses a great feature called conditional formatting that changes the format of the cells and font depending on the content. Data jumps out at you so you do not miss crucial information.

Formulas

Of course we must not forget formulas that carry out calculations across the spreadsheet allowing one piece of data to change and updating all the associated data in a flash.

Uses of the spreadsheet

There are just so many reason companies use the spreadsheet, here are just some:

  • Stock control
  • Time sheets
  • Mileage record
  • Customer database
  • Holiday record
  • Project management
  • Company income and expenditure

Can you add more?