It is no secret that Microsoft Excel is one of the most popular spreadsheet applications in the world.  And when calculating whether it is worth the effort to learn how to use this powerful tool, the benefits just keep on adding up.  The simple truth about Excel is that you can do a number of useful things such as keep a running total of stock, add up a list of invoice amounts, plan an event, calculate your business expenses over time or solve problems.  And apart from business tasks you can keep track of your personal affairs such as budgets and shopping lists.  Yet, without Excel, you may find yourself flailing blindly when the numbers just don’t add up. 

Satya Nadella, Executive Chairman and CEO of Microsoft claims that Excel is Microsoft’s most important consumer product and it is estimated that 750 million people worldwide use Excel.

So, while we will never be able to count how many things Excel can do, here are the top 10 benefits you can count on:

1. Excel is the best way to store data

Even if you are not au fait with most of Excel’s tools and features, it is still the best way to store data since it is used by millions of people and when data is stored in Excel it can be shared with others and can be readily accessed.   

2. Excel performs several different calculations

Excel’s popularity the world over is linked to its ability to perform several different calculations.  Excel provides numerous functions that you can use to perform various calculations.  An Excel function is a predefined formula that yields a particular result based on specified values.  Added to that, you can also create your own formulas by performing calculations using operators or by combining two or more functions.

3. Excel provides all the tools you need for data analysis

The main reason for storing data is for analysis with the objective of gaining useful insights.  Microsoft Excel enables you to clean and explore data and add advanced data analytics capabilities using data analysis tools such as Auto Filter, Power Query, Power Pivot and Power Maps. 

4. Excel makes it easy for you to create data visualisations with charts

With Excel, you can create charts that present your data in a visual manner using Chart Tools.  Chart Tools consists of two tabs known as DESIGN and FORMAT.  When you click on a chart, the DESIGN and FORMAT  CHART TOOLS appear on the ribbon and you can create your chart from there.

5. Excel allows you to print custom reports

Excel allows you to print custom reports.  You can print a selected area only when you click Print Options and Current Selection.  You can also change the margin, paper size and orientation.

6. Excel offers free templates for daily use

Excel offers a whole host of free templates to choose from for daily use such as:

• Employee Leave Tracker Template
• Excel Timesheet Calculator Template
• Milestone Chart Template
• Pareto Chart Template
• Excel Gantt Chart Template
• Excel Thermometer Chart Template

7. Excel allows you to code to automate

Microsoft Office comes with its own coding language which is known as VBA (visual basic for applications).  VBA allows you to write code for almost all of the activities that you perform manually in Excel.  Using a VBA code, you can automate all types of activities from simple tasks such as (make a text bold) to more complex tasks such as (insert a pivot table).

8. With Excel you can transform and clean data

In situations where you may be working with large amounts of data, there are may cases where the data first needs to be cleaned before it can be used.  Cleaning and transforming data can be a lengthy and tedious process.  Hence, Microsoft has introduced Power Query which is a data transformation and cleaning engine that allows you to load data from multiple sources, transform the data and load it back onto the worksheet.

9. Excel allows you to store data using millions of rows

We know that there are no limits to any amount of data but Excel does have a limit in terms of number of rows and columns.  To combat this, Microsoft has introduced Power Pivot which is an Excel add-in that allows you to perform create sophisticated data models and perform powerful data analysis.  As such, Power Pivot allows you to mash up large volumes of data from various sources, rapidly perform information analysis and easily share insights.

10. You can work with Excel online as well as on mobile

Excel for the web extends your Excel experience to the web browser, where you can work directly on the website where your workbooks are stored.  You can also work on mobile using Microsoft Excel Mobile which allows you to review, update and create spreadsheets on Windows phones and tablets.

If Excel seems intimidating to you, here are some useful tips

• Remember, anyone who is adept at working with Excel spreadsheets was taught by someone at some stage.
• Everyone who uses Excel started with a blank spreadsheet.
• Study one function at a time before you move on to the next one.
• You don’t need to know the purpose of every single function of Excel. Only use the ones you need.
• Practise. Practise. Practise.

Reference sources: excelchamps.com

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