Essay Sample on Excel Spreadsheets: Essential Tool for Business & Data Analysis

Introduction

The excel spreadsheets are known to be the essential portion of business everywhere in the ecosphere. They are, however, used for various purpose throughout the organization. They are usually utilized from producing memos to the extent of making tracks of business trends. Excel has also emerged as a prevalent instrument for allowing data analysis process. The main aim of this paper is analyzing and deeply viewing the importance of spreadsheets.

Is your time best spent reading someone else’s essay? Get a 100% original essay FROM A CERTIFIED WRITER!

Save 25%

Moreover, excel plays a vital role in allowing users to structure information in many different ways. They are straightforward to use since entering of data may it remain complex is easy. Excel being easy to use, it allows individuals to perform diverse responsibilities without the inordinate agreement of training. It is commonly used for monetarily associated actions in organizations through the use of practice formulas (Hopkins, 2017). The excel spreadsheets are capable of producing annual, semi-annual, and quarterly reports. Once the information is entered, users can easily create these reports in case of data being entered continuingly. Excels are also used by the organizations to track project status, invoice reports, and even sales. Its main features and functions of excel make excel be a popular tool in the organization.

However, most businesses use graphic features and statistical formulas that are present in excel for data manipulation. Excel can also act as a storage mechanism in cases of large amounts of data that may be present in an organization (Cunha, Erwig, Mendes, & Saraiva, 2016). Therefore, it can also act as a tool for analyzing data in that specific organization. Excel having database features, any data collected from a customer can be entered in any format that a business may be beneficial. More so, data collected can be analyzed, updated, and sorted applying a few steps due to presence of excel.

Conclusion

In conclusion, the presence of excel in businesses, individuals have a very spacious room for decision making and planning about their future. Excel has emerged as an essential tool in the whole world among companies purposely to determine an organization's profit or loss. Through the use of functions and formulas, most businesses can decide of appropriate features that companies may require to ensure proper analyzing of data.

References

Cunha, J., Erwig, M., Mendes, J., & Saraiva, J. (2016). Model inference for spreadsheets. Automated Software Engineering, 23(3), 361-392. Retrieved from https://link.springer.com/article/10.1007/s10515-014-0167-x

Hopkins, W. G. (2017). Spreadsheets for analysis of validity and reliability. Sports science, 21. Retrieved from http://search.ebscohost.com/login.aspx?direct=true&profile=ehost&scope=site&authtype=crawler&jrnl=11749210&AN=124138143&h=B39UQY68DUoNvRvIt7tAAssjUqKAVHNTetEEqp4RCuDd%2BakuTRuJpto7uaBW71ZSyE3PbM3r1RGZWPBgoRwSew%3D%3D&crl=c