What is Excel Used for in the Workplace?

Excel has been the world standard for many years. Excel is popular as it is versatile. ‘Excel is versatile’– 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 the productive managerial duties. It offers tools which are helpful to optimize a process.

2) Storing Verifying Data in Business

Excel is perfect for entering, analyzing and calculating a company data. Though MS word has few calculating tools like Excel, but Excel has far more calculating tools. Excel offers different types of charts, which are helpful to make statistical model for business purpose. Excel can store text-based data like 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 topic. They can use Excel. Where there is the 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 reports table in written form but Excel is more comfortable and smart to make a report table.

6) Research

Research is an important part of a business organization to develop their 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

Manager can track employees working hour by using Excel spreadsheets. Manager can make perfect working schedule for the employees and manage their working hours very easily. Manager can also edit employees schedule for his needed.

8) Basic Financial Accounting

Generally 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 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 product 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 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.

13) Forecasting

Excel has some third-party software which are 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, the 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 visualizations 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 manager 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

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 a 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
  • A 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 others allied functions

Hello! Welcome to my Excel blog! It took me some time to be a fan of Excel. But now I am a die-hard fan of MS Excel. I learn new ways of doing things with Excel and share here. Not only how to guide on Excel, but you will get also topics on Finance, Statistics, Data Analysis, and BI. Stay tuned!

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