Excel can be used to leverage data reporting and analytics within an organisation. This can lead to better decision-making and improved operational efficiency. Excel is a powerful tool with a range of features for this purpose.
Note: Advanced Excel and Google Sheets will be covered in more detail in a separate module. However, it is useful to understand where Excel fits into the context of data reporting and analysis here.
- Data Organisation:
Excel tables can be used to organise data efficiently allowing you to easily sort and filter with structured referencing.
Data validation rules can be implemented to ensure data integrity and consistency.
- Data Analysis:
Formulas and functions, e.g. SUM. AVERAGE, VLOOKUP, etc., can help you perform calculations and analyse the data quickly.
Pivot tables can be used to summarise large datasets, allowing for dynamic analysis and easy exploration of data relationships for reporting purposes.
- Data Visualisation:
Graphs and charts, e.g. bar, line, pie, etc., can leverage the visualisation of data to show trends and comparisons, making reports more engaging and easier to understand.
Conditional formatting can be used to highlight important data points or trends, quickly identifying key insights.
- Reporting:
Using Excel, it is possible to build interactive dashboards to consolidate key metrics and KPIs, providing a snapshot of business performance at a glance.
- Automation:
Macros can automate repetitive tasks, saving time and reducing errors in data processing.
Power Queries can be used to connect various data sources, transform data and load it into Excel for analysis.
- Scenario Analysis:
Tools such as Goal Seek and Data Tables can be used to perform ‘What-if’ analysis, helping you to make informed decisions on different assumptions.