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Microsoft Excel Uses: Effective Ways to Use Microsoft Excel

Aug 18, 2022

Microsoft Excel is one of the most used software programs worldwide, and yet without the right guidance, it can be tricky to know what so many people use Excel for.

Without any training, Excel spreadsheets can seem confusing, and it might be hard to see what all the fuss is about.

This article will help solve that problem by highlighting the effective ways people use Microsoft Excel.

Remember, for the best Microsoft Excel and Google Sheets tips, be sure to check out the rest of the Simple Sheets blog!

The Original Use of Microsoft Excel

Originally, Microsoft Excel was created to transfer paper spreadsheets used for accounting into a digital format.

Because of this, you will notice that the basic layout of a Microsoft Excel file is similar to paper spreadsheets.

However, since technology has developed significantly over recent years, Excel spreadsheets have now taken on many more uses.

Spreadsheet Cells and Cell References

When you open up your MS Excel spreadsheet, you will notice a rectangular grid of rows and columns.

In newer variants of Excel, every spreadsheet has almost one million rows and over 16,000 columns. Due to the sheer volume of cells on offer, a naming scheme is essential.

In Excel, horizontal rows are referred to by numbers, starting at one. The vertical columns are marked by letters, starting at A. So the top left-hand cell reference is A1.

Data Types, Formulas, and Functions

In total, there are five types of data that a cell can contain.

  • Numbers

  • Text

  • Dates and times

  • Boolean values

  • Formulas

Formulas get used for calculations, often to incorporate data that is stored in other cells. These cells could be located on a different worksheet or a different workbook entirely.

Building a formula begins by typing the enter sign into your chosen cell. Formulas also include cell references, which highlight the location of data, as well as one or more spreadsheet functions.

Excel and Financial Data

MS Excel spreadsheets tend to get used to hold financial data. Functions and formulas that commonly get used for this sort of data include:

Discovering values such as loss or profit.

Performing simple mathematical operations like summing rows or columns of numbers.

Calculations of repayment programs for mortgages or loans.

Understanding the maximum, minimum, and average statistical values of certain data ranges.

Implementing "What-If" analysis on data by modifying data variables to understand the impact it has on other data.

Excel's Other Uses

Other than these main operations within Excel, it can also be used for these subjects:

  • Charting or graphing data to help users see data trends and conduct business analysis.

  • Formatting data to create easy-to-understand content that you can use quickly and easily.

  • Printing charts and data to get used in reports.

  • Filtering and sorting data to identify particular information.

  • Linking worksheet charts and data to be used in other Microsoft programs, such as Word or PowerPoint.

  • Importing data for data analysis.

Frequently Asked Questions About an Excel File

Is Microsoft Office Excel good for viewing business data and conducting data analysis?

An Excel workbook is fantastic for financial analysis, and it is one of the main uses of Excel. The reason it is so popular is because of how easy it is to position your data in a spreadsheet, either in one pivot table, multiple pivot tables, or other charts and graphs.

What are other tools available in the Microsoft office suite?

Microsoft Excel is one of the most popular tools offered by the Microsoft office administration. Other popular office tools include Microsoft Word, PowerPoint, and Access.

Is MS Excel the best spreadsheet program?

Most business analysis is conducted on an Excel sheet, so if you only have time to learn how to use one productivity software, improving your Excel skills is important.

However, Google sheets are also excellent for data entry and contain key functions. It is also an excellent tool for project management as collaboration takes place in real-time online.

Is Microsoft Excel used a lot to calculate data in the business world?

When it comes to business analysis, Microsoft Excel is far and away the most popular tool used by operations management teams across the world. While Google Sheets is a popular substitute, Microsoft Excel is great as it lets you maintain customer records behind a password-locked sheet.

Where can I find the best Excel templates for showing business processes?

Right here! Simple Sheets offer a wide range of free templates for you to download as part of your three-day free trial. These templates can get used in any spreadsheet programs, including Google Sheets or Apple Numbers.

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