The Value of Microsoft Excel to Business and Government
Microsoft Excel is the most important computer program in workplaces around the Utah. Whether you are budgeting, organizing a client sales list, or you need to plan the office party, Excel is the tool that has become entrenched in business processes across the state.
You Can Do Anything With a Spreadsheet
Using Excel for business has almost no limits for applications. Here are some examples:
When planning a team outing to a baseball game, you can use Excel to track the RSVP list and costs.
Excel creates revenue growth models for new products based on new customer forecasts.
When planning an editorial calendar for a website, you can list out dates and topics in a spreadsheet.
When creating a budget for a small product, you can list expense categories in a spreadsheet, update it monthly and create a chart to show how close the product is to budget across each category.
You can calculate customer discounts based on monthly purchase volume by product.
Users can summarize customer revenue by product to find areas where to build a stronger customer relationships.
This is a very short list to give you an idea of the diverse uses for Excel. On a typical day at the office, I have Excel open 4-8 hours. I could not do my job effectively without it.
Finance and Accounting
If you walk through the finance or accounting department at any business and you will see computer screens filled with Excel spreadsheets outlining financial results, budgets, forecasts, and plans used in making everyday business decisions.
Speed and accuracy in the advanced formulas found in Excel can turn manual processes that to weeks to compute into something that takes only a few minutes today.
Most users know that Excel can add, subtract, multiply, and divide, but it can do much more with advanced IF functions when coupled with VLOOKUP, INDEX-MATCH-MATCH, and pivot tables. Expand Leaning can help you learn these features.
Marketing and Product Management
While the marketing folks may look to their finance teams to do the heavy lifting for financial analysis, using spreadsheets to list customer and sales targets can help you manage your sales force and plan future marketing plans based on past results.
Using a pivot table, users can quickly and easily summarize customer and sales data by category with a quick drag-and-drop. All parts of business can benefit from strong Excel knowledge, and marketing functions are not exempt.
Specialized database systems can be used to manage payroll and employee information, exporting that data into Excel allows users to discover trends, summarize expenses and hours by pay period, month, or year, and better understand how your workforce is spread out by function or pay level.
HR pros can use Excel to take a giant spreadsheet full of employee data and understand exactly where the costs are coming from and how to best plan and control them for the future.
The Bottom Line
Excel is not going anywhere. Businesses will continue to use Excel as a primary tool for diverse functions and applications ranging from IT projects to company picnics.
A working knowledge of Excel is vital for most office based professionals today, and stronger Excel skills can open the door to promotion and leadership opportunities. Excel is a powerful tool but cannot function alone. It takes a savvy computer user to take advantage of everything Excel has to offer to provide the best results for their company. Please contact us at Expand Learning Solutions and we will help you become a master of Excel.