INTRODUCTION TO EXCEL: A Data Analyst’s Multi-Purpose Tool
My perception of Excel changed when I enrolled in a Data Analytics course at LuxDevHQ. Earlier on, I perceived Excel as tool to make basic calculation, create lists, budgets and schedules. But by interacting with it, I have come to learn that Excel is so much more than rows and columns; it's about generating actionable insights and making informed decisions.
Excel is a data analysis tool essential and effective in the analysis and visualization of data. Despite there being other data analysis tools like Python, Tableau, SQL, excel remains the easiest to access and learn as it is always easily and readily accessible on the computer.
What is Data Analysis?
This is the process of examining, cleaning, transforming and modelling data (raw facts/information) to identify patterns/ trends that will play part in decision making.
What is Data?
Data refers to raw or unprocessed facts, that hasn’t been cleaned or analyzed.
EXCEL IN THE REAL WORLD
It is quite mind-blowing to know that Excel is quite popular and useful across the world, even in different sectors.
Financial Reporting and Budgeting: Isn’t it fascinating how excel is used by companies to analyze revenue in the year’s quarters to create detailed financial reports, track spending and forecast future spending.
Business Actions: Excel is used by businesses to monitor important metrics like financial results, customer trends, and sales performance. Users can find trends, compare performance over time, and pinpoint areas for improvement with the help of features like PivotTables, charts, formulas, and conditional formatting.
Marketing Performance Tracking: By utilizing Excel, businesses are able to identify the current trends in sales and monitor the changes that occur, and even calculate returns of investments.
USEFUL EXCEL FEATURES/ FORMULAS
1. VLOOKUP ():
Previously, I never knew of its existence. But now I know how useful it is in finding information in large sets of data.It is a function, known as a vertical lookup, that searches for a value in a column in a table, and returns a value in the same row, from a specific column. To easily understand it's syntax, it looks something like this: =VLOOKUP(lookup value, range containing the lookup value, the column number in the range containing the return value, Approximate match (TRUE) or Exact match (FALSE)).
For example, if column A has Item names and column B has item prices, to find price of a calculator in cell A2, apply the formula below to return the corresponding value.
=VLOOKUP("Calculator",A2:B10,2,FALSE)
2. Conditional Formatting:
This feature is useful in highlighting cells to follow rules set. For example, a rule can be made to only allow data in a particular cell based on roles or criteria. Also, you can highlight test scores less than 50%, by selecting the 'Highlight cell rules' > Less than> then choose a fill colour.
3. Index- Match:
This is a flexible function necessary in pulling information for example client phone number based on unique identifiers, especially when working with multiple sheets of data.
4. Pivot Tables:
This is a great and interesting feature in summarizing data. One can easily group a huge data list by item, region, cost, rating, etc, and thereafter, even manage to generate charts with the same information.
PERSONAL REFLECTION
Realizing that data isn't only for tech experts or statisticians is the biggest shift. Prior to learning and exploring Excel, I saw data as quite dry and disinteresting. However, I now see data, its processes of cleaning and analysis as an interestingly unfolding story, knowing that by learning Excel, I am constantly developing abilities that will enable me to convert raw data into useful business value. This gives me a sense of empowerment and encourages me to want to learn and explore more on Excel and data analysis in general.
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