Excel, an analysis.

I have learnt and built with Microsoft Excel and it has been an interesting experience. Excel is amongst the most important data tools for any analyst. It is used for analysis, storage and visualization of data.

Excel uses formulas and functions that enables the analysis of data in order to capture useful insights. In real-world data, such insights are very important and are used to make data driven decisions. Some examples of excel in the real world include:

• Preparing Financial Statements

Excel can be used to prepare financial statements such as balance sheets and profit and loss statements amongst others. These are used in understanding business performance.

• Budgeting Process

Excel is used to create dynamic budgets. We have the expected expenses and income, using different formulas and functions, excel is able to update the budget with every input and compute given values and delivers an outcome.

• Financial Planning

Excel provides analyst with a platform to provide data context on performance indicators that help with long term financial planning.

Features And Formulas

Some of the interesting things I have learnt include:

• Data Validation

This is a feature that allows on specific data to be input in a selected range of cells. For example, when you input data on marital status, it can be restricted to: single, married, divorced and widowed. This ensures that nothing outside that selection is entered in the specific cells.

• Conditional Formatting

This is used to create simple visuals of the data using icons, data bars, color among others. In a category that has sales, it can be used to see high, low and moderate sales depending on the rules that have been input.

• Filtering

This is used to view your data based on different categories. I love this because it is very helpful when you are exploring your data in order to understand what you are working with.

Reflection

Learning excel has made me appreciate the importance and power of data. Good data brings with it endless possibilities in the amount of information that can be obtained from it and how much sense can be made from a bunch of numbers and words which is beautiful to behold.