Three great uses of Excel

Paolo Lenotti Jul 05, 2016

Microsoft Excel is still business critical. 30 years since its launch, it's more popular than ever: 1 billion people use it, with workers in finance spending a third of their day in the program.

However Excel can be overwhelming. Today we share three key features we think you should focus on. Give them your best shot!

 

1. BRING DATA TOGETHER

Did you know that Excel can bring information from various files and documents together, so that it exists in a single location? As well as raw data and information from other spreadsheets, it is possible to import text and images.

Tip: Learn about multiple windows and multiple worksheets.

 

2. FORECAST SCENARIOS

Forecasting plays a key part in most professions - forecasting all sorts of KPIs: costs, sales, revenue, volume. Excel allows you to vary the inputs and assumptions that drive your forecasts - that is, consider different scenarios. There are many ways of doing this, some very straightforward and requiring little knowledge of Excel, some more advanced (e.g. using Scenario Manager).

Tip: Build smart models with Scenario Manager.

 

3. KNOW HOW TO PRESENT

Presenting effectively with Excel is the ultimate challenge. Charts are especially useful for demonstrating trends and relationships between numbers. However the wrong charts often lead to confusion and even wrong decisions.

Tip: Be careful with pie charts and 3d charts. Very often simpler column charts make the data clearer.

 

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