How is Excel Essential for Business?

How is Excel Essential for Business?

Microsoft Excel is a spreadsheet application that stores, organizes, and analyses data. Excel is a very powerful tool that is embedded in business processes all over the world to analyze stocks or issuers, budget, or organize client sales lists. To learn more about Advance Excel, join Advanced Excel Training in Chennai at FITA Academy with certification training and placement support for your career enhancement.

In this blog, We will discuss how is excel essential for business.

Importance of Excel in Business

Finance and Accounting

  • All major corporate offices that have finance and accounting departments will use Excel spreadsheets¬† to calculate outlining financial results, crunching numbers, and creating budgets and plans used to make business decisions and forecasts.
  • Most users know that Excel can add, multiply, subtract, and divide, but when combined with INDEX-MATCH-MATCH, VLOOKUP, and pivot tables, it can do much more.

Marketing and Product Management 

  • In marketing, product professionals depend on their finance teams for financial analysis, using spreadsheets to list sales targets and customer details can help you manage your salesforce and plan future marketing strategies based on past results.
  • With a quick drag-and-drop, users can quickly summarize sales data by category and Customer details using a pivot table.

Human Resource Planning

Database systems such as SAP, Oracle (ORCL), and Quickbooks (INTU) can be used to manage payroll, exporting that data and storing employee information in Excel, which can use to summarize expenses and hours by pay period, month, or year, and gain a better understanding of how their workforce is distributed.

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Benefits of Excel

  • Easy Data Entry Operation

One of the main benefits of Excel is that it allows for quick and easy data entry. When compared to other data entry and analysis tools, Excel has features such as the Ribbon interface.

  • Allows graphic representation of data

Excel enables you to create graphical representations of data and information. Data can be visually represented using bar charts, column charts, and graphs. Tables allow the classification of various data entities based on their characteristics and features.

  • Use Formulas

Excel can perform all mathematical and logical functions such as addition, multiplication, subtraction, division, average, sum, mod, product, etc. Excel has many formulas that can support you in solving simple and complex calculations.

  • Compatible with other business applications

Since recent versions of Microsoft Excel are compatible with many other business applications such as MS Office, different web applications, and so on, you can import Excel data into other applications. Furthermore, the cloud computing facility allows you to update and upload your excel document from any location, which can also access through various devices such as smartphones, tablets, laptops, and so on.

Conclusion

This blog will give more valuable information about how is Excel Essential for Business with its benefits. Join Excel Training in Chennai to learn more about Advance Excel, which will help you to develop your career by providing certification training with real-time projects.

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