What Is Microsoft Excel Used For?

Microsoft Excel is a spreadsheet application program developed by Microsoft Office for Windows as well as MAC OS X users. It includes features like calculations, pivot tables, macro programming (also known as Visual Basic for Application), and graphic tools. As Excel includes powerful functions, it is widely used as spreadsheet tool in many domains. Let us explore some of its advanced features:

Manage data records

The most common usage of Excel can be categorized it for managing data records.  Users don’t have to think about the questions how table should look like as a preset layout is being set according to user needs.  What user have to do is just fill in the desired information and data in the fields and  the table will develop accordingly. It also includes facility like to sort the list and filter the Excel spreadsheet list like a database tool.

Analyze data

Besides a good tool to manage lists data Excel is also considered as a great analytical tool for business users too. With the help of pivot table contained within Excel application users can easily analyze a large number of data. Pivot table helps to automatically sort, count, and total the data stored in one table or spreadsheet and automatically creates a second table displaying the summarized data.

 

Create forms and consolidate results

 

Excel is not only used to create simple table that contains boxes, but when a professional look is taken at its abilities it includes option buttons which helps to select answers from drop down list to select a particular answer from list of items.  Including with charts Excel is also used to compile answers to tests or quizzes so that they can analyze the profit of the class room or your team.

Corporate budgeting

A major business use of Excel includes corporate budgeting. Many companies now a days from big corporations to small companies use Excel for calculating their budgeting. Despite of numerous calls made by suppliers of Business Performance Management Systems (BPM) to move away from Excel as a budgeting tool, almost 70% to 80% of all corporations still use Excel as their primary budgeting tool because of its powerful features.

 

Find profit break even

MS Excel is also used to find out the break even for projects manually.  In order to attain the ups and downs for project manually you need to perform many calculations using different numbers and inputs. Those calculations become more complex when its calculation components includes fixed or set up cost. To deal with such situations GOAL SEEK function is introduced, which solve complicated calculations within few seconds.