What actually is excel?
Introduction
Excel is an effective spreadsheet platform developed by Microsoft. It used to collect, manipulate and calculate organizations' data . Most businesses, including Small Market Enterprises, rely on spreadsheets due to its familiarity and flexibility without dependance of excess skills in IT.
Uses of excel in real-world analysis
HR Analytics
Organizations use Excel to track and keep their employees data . With this , it is easy to get data for payroll as the salary column is provided. Besides , it provides forecast for employees who are supposed to be promoted depending on their performance and merit.
Financial Analysis
Finance departments heavily depends on use of Excel to track their cashflow statements, statement of financial position and income statement . This data is used assess ongoing business performance and foretell future results and planning on investment decisions
Small Market Enterprises (SME'S)
AS we are in the digital world , SME's also take part in using Excel. Mostly efficient in tracking inventory , sales and controlling expenses.
Essential Formulas .
Aggregate Functions.
They include
- SUM()-Used to calculate totals It adds numbers and is used commonly
- AVG()-Provides answers on what is the average or the arithmetic mean .
- MEDIAN()-Looks at the middle most number in a data set.
- COUNT()-Mostly used to track data without manual review.
Since I started interacting with excel, It made me realize that it is actually interesting to turn raw data numbers to an interactive insight .This means you can tell story using numbers . I enjoy cleaning messy data.
Looking forward to explore more in Excel in my journey of being a Data Science.
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