Also, different statistical trends can be analyzed and compared to forecast, plan and make key decisions.Įxcel has extensive analytical capabilities and good reporting functionalities, which can help business analysts to extract valuable information from the database. These decisions may include investment strategies such as asset allocation, financing, or setting budgets.įor example, a profitability report could show where the business is losing money. In other words, professional business analysts turn data into useful reports to inform their decision-making process. The data can also include website traffic, spending on supplies, product sales, expense tracking, insurance claims, etc. The past business performance or customer data is manipulated to make a specific decision and compare trends. The collected data, formulas and computations on the spreadsheet can guide actions, decision-making and help find solutions to complex problems.īusinesses use Excel to translate the collected data into insights and key takeaways. An infographic showing the top uses of MS Excel in business Business AnalysisĮxcel is central to business analysis and planning. Note that there is no particular order to this. Let’s go through six major uses of Excel in business, outlined below. With its simple interface, Excel is not only of use across different industries but also in different departments within your business. The present-day Excel can be conjoined with other Microsoft Office applications such as Word, Outlook, PowerPoint, and other platforms, providing powerful combinations and limitless possibilities. No wonder it’s described as the staple of business.
#USES OF MICROSOFT EXCEL IN ENVIRONMENT. SOFTWARE#
Excel is a software program that can perform both simple and complex business tasks. The spreadsheet program has been developed to store, analyze, organize, report, and visualize data. In fact, Excel has grown to become arguably the most prominent, all-purpose tool available. Excels’ potential is well-known in the business world.