Microsoft Excel is a Microsoft Office product used to track, manage, analyze, and visualize data. This spreadsheet program is organized by columns and rows. Individuals can enter data into the “cells” created by the intersection of these columns and rows. Because of its versatility and the fact that it can be used on both Mac and Windows computers, Excel is used by individuals in a wide variety of careers and academic disciplines.
Excel is run by a programming language called Visual Basic for Applications (VBA). Programmers can use this language to create advanced numerical functions, perform complex calculations, and analyze data within their spreadsheets. However, keep in mind that you don’t have to know how to code to be able to use Excel.
Individuals who purchase Microsoft 365 receive access to Excel and other applications in the Microsoft Office Suite. Microsoft 365 also enables users to edit documents in the cloud, making it possible for multiple people to collaborate on the same Excel spreadsheet at once.
Features of Microsoft Excel
Excel’s numerous features make tracking and analyzing data straightforward. Using formulas within Microsoft Excel, it’s easy for individuals to perform both simple and complex calculations, including:
- Adding
- Subtracting
- Multiplying
- Dividing
- Finding an average
Once individuals have entered data into Excel, it’s easy to sort, adjust, and filter it to meet their unique needs. For example, users can use the filter tool to quickly organize information by calendar date or sort information from largest to smallest (and vice versa). Excel also enables users to quickly filter out the data they don’t want to view, making it easy to find precisely what they’re looking for.
It’s also very easy to use Excel to visualize data. Individuals can easily create charts and graphs, allowing them to identify trends and patterns visually. In addition, individuals can style these charts by changing things like color scheme, font, and size. As a result, people can use these visualizations for formal presentations to help share their analysis with others, whether in a written report or audiovisual presentation.
Excel enables individuals to efficiently group data through the use of pivot tables. In doing so, Excel users can quickly identify patterns in data and look at data from different perspectives. Those who know how to create a pivot table can also create line graphs, histograms, and other charts from these organized tables. These charts can even be organized as interactive data dashboards, with “slicers” to help decision-makers dive as deep into the data as they want.
What Makes Excel so Popular?
Microsoft Excel is popular primarily because it is such a powerful and versatile tool. Individuals can use it for anything from essential record-keeping to complex quantitative analysis. Additionally, Excel is reasonably easy to learn, especially for those who plan to use it for its more straightforward tools, like basic data entry. Individuals don’t need to know how to code to use this spreadsheet since data can be directly typed into cells.
Given its popularity, it’s also easy for individuals to find resources about Excel online. This allows users to quickly troubleshoot any difficulties that might arise as they use this program, especially when first learning Excel.
Excel can be used on just about any operating system, making this spreadsheet system accessible to anyone who needs to use it. It is also an affordable solution for organizing and analyzing data, whether administrative, scientific, financial, or other.
Who Uses Microsoft Excel?
Excel is useful for a wide variety of careers, ranging from administrative to analytical. There are very few jobs that wouldn’t benefit from a basic understanding of using Excel. This spreadsheet tool can record qualitative information, allowing Office Clerks and Administrative Assistants to track information about employees, visitors, and others.
Excel is also useful for careers in data science and data analytics. Individuals can use these spreadsheets to record data and perform statistical analysis and modeling. This might include something straightforward like a simple regression model or more advanced analytic models.
This spreadsheet program is also helpful for teachers and other educators. They can use the program to simplify tasks like tracking student grades and attendance and manage project timelines within the spreadsheet. Excel may also be helpful for professors or other individuals who are undertaking academic research since it can serve as a great way to organize primary sources.
Professionals who work in the financial sector can also use Excel’s quantitative analysis tools. Individuals in roles like Accountant, Financial Analyst, and Business Analyst can use Excel to analyze financial data, balance financial accounts, and even forecast future earnings. Additionally, users can directly import data into Excel from financial systems, making it easy to analyze data from financial transactions quickly.
Learn How to Use Excel
One of the best ways to learn Excel is by using it! NYIM offers a variety of hands-on Excel courses in both in-person and live formats that can help you advance your knowledge and skills when using this Microsoft product.
Those who are brand new to learning Excel may consider enrolling in NYIM’s Excel for Business Fundamentals course. This course meets over one day and teaches students how to enter data into cells and perform basic calculations. Those who already know the basics might be interested in NYIM’s Intermediate Excel for Business or Advanced Excel for Business course. And individuals who want to learn Excel’s VBA language can also take NYIM’s Excel Programming with VBA class.
Individuals who would like to learn Excel for Finance can do that, too! NYIM has three different classes that teach professionals how to use this spreadsheet for financial analysis. This includes a 35-hour Financial Analyst Training Program and a 21-hour Financial Modeling Bootcamp. Those who are already well-versed in using Excel for their financial analysis can enroll in the Advanced Excel for Financial Modeling course.
