Excel has been the world standard for many years. Excel is popular as it is versatile. ‘Excel is versatile’– which means that you can do many things with Excel. In this short blog post, we are going to discuss what is Excel used for in the workplace!
So, let’s know!
Excel is best in numerical calculations, but Excel can also be used for non-numeric applications. The following list depicts some areas where Excel excels.
Excel is Used in the Workplace in Many Ways
1) Administrative Functions
Excel is important for productive managerial duties. It offers tools that are helpful to optimize a process.
2) Storing Verifying Data in Business
Excel is perfect for entering, analyzing, and calculating company data. Though MS word has few calculating tools like Excel, Excel has far more calculating tools. Excel offers different types of charts, which are helpful to make statistical models for business purposes. Excel can store text-based data like a mailing list, client lists, and employee data.
3) Excel Cracks Number
Every business house generates huge numbers every day. Business houses need budgets, they calculate their day to day expenses. All can be done with Excel. Every kind of financial calculation can be done with Excel. Say a newspaper will publish a survey on some topics. They can use Excel. Where there is a number, there is Excel.
4) Creating Charts
You can create different kinds of charts. The charts are highly customizable. We shall learn many things about Charts later.
5) Reporting and Visualizations
By using Excel we can make a company report very easily. We can use MS Word to make a report table in written form but Excel is more comfortable and smart to make a report table.
Research is an important part of a business organization to develop its business model. “What-if” analysis is ideal for this section. Here, Excel comes with three types of what-if analysis tools, which make our work easier.
7) Work Scheduling
Managers can track employees working hours by using Excel spreadsheets. Managers can make a perfect working schedule for the employees and manage their working hours very easily. The manager can also edit employees’ schedules for his needed.
8) Basic Financial Accounting
Generally, an excel spreadsheet is used in both small and mid-level business organizations for their accounting activity. Excel is ideal for monitoring a company’s financials. By using data entry tools, we can manage inventory, record expenses, and income, and track our budget.
9) Business Data Analysis
By using a pivot table you can get insight from a large pile of data. You can easily change your data table to display your desired data field by using filters or swapping tools.
10) Tracking Product Sales
Track the sales amount of products on the basis of daily, weekly, monthly, or yearly. You can easily forecast the condition of sales next year.
11) Customer Data
By using excel company can make a full-fledged customer database to monitor their business condition.
12) For Budget making
By using built-in excel formula and calculating features company can make their budget very easily.
Excel has some third-party software that is used for financial projection by analyzing previous data.
What Kind of Jobs Use Excel?
1) Financial Analysts
Generally, financial analysts make a conclusion on the basis of financial data. So, they must have great knowledge of excel.
2) Office Clerks, Administrative Assistants, Information Staff
Office clerks and Information staffs need Excel spreadsheet experience for the collection of data.
For creating reports, organizing documents, and scheduling appointments, administrative assistants must have a great knowledge of Excel.
3) Retail Store Managers
Generally, a store manager who is monitoring inventories, overseeing and leading staff, and making policies for the company should have a great knowledge of excel.
4) Project Managers
A project manager makes a project plan on basis of project data. So, knowledge about excel must be needed.
5) Business Analysts
A business analyst analyzes and assesses a business to identify the maximum profit solutions of a company on the basis of tracking a large pile of data. So, he might have a great knowledge of excel.
6) Digital Marketers
Digital Marketers always seek new market opportunities. For this reason, they use excel graphs, charts, and other data visualization tools.
7) Data Journalists
Now a day’s data journalists work with a large amount of data, that’s why they should have a great skill in excel.
8) Administrative, Marketing, Training, and Sales Managers
Sales and marketing managers always involve in numbers.
Administration and training managers involve in organizing, planning, and scheduling different resources and items.
So all these managers should have a great knowledge of excel.
9) Remote Excel jobs
In today’s digital working environment excel is very high demandable.
10) Auditors and Accountants
Auditors and Accountants involve in financial documents and statements. So, they must have a great knowledge of excel.
11) Cost Estimators
They work with project managers and engineers to determine the moderate amount of money, labor, and time which is needed for the project. So, Cost Estimators should have good experience in excel.
What are Excel Skills Necessary for Jobs?
- Skills of Advanced Excel Functions
- The arrangement of diverse functions
- Sorting of statistics and related entries
- Applying for proper Data validation
- Familiarity with macros and VBA
- Protecting sheets and locking of cells
- Provision of numerical breakdown
- Familiarity with the control panel
- Proper formatting of data
- Facts about basic calculations and formulas for excel
- Functional formatting options to display
- The familiarization with other allied functions