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5 Awesome Benefits of Excel for Businesses

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Are you wondering how so many companies do so much with their data?

The most likely answer is that those companies use Microsoft Excel.

You may be wondering why Excel and not Google sheets?

Well, the answer is both Sheets and Excel are popular and there are pros and cons for each product so it really comes down to personal preference as to which solution you prefer.

In this article, we’re looking into some of the positives of using Microsoft Excel to help run your business to make it worth the subscription.

1. Improve Productivity

Analyzing data is vital for any business that wants to succeed today. There is more data than ever, and you can be sure that your competition is making the most of it.

Using Excel for your small business means you can more efficiently analyze this information. Adding information to spreadsheets allows you to sort, filter, and input your information quicker than you could otherwise.

2. Visualize Your Data

While it’s possible to analyze your information with text, it isn’t always ideal. Many people work better when they see visuals. Excel makes this easy.

One of the Excel benefits that companies often overlook is the ability to generate charts and graphs. These visuals will give your team a quick overview that allows them to understand the data in your spreadsheets.

3. Online Collaboration

Spreadsheets have come a long way over the past decade. You used to rely on computer desktops to run this software. While this worked great for the time, it did have limitations when it comes to sharing.

One of the best Excel for businesses benefits today is the ability to work on your spreadsheets in the cloud. Your team can access your spreadsheets from anywhere in the world.

With remote work on the rise, it’s an investment worth investigating.

4. Keep Data Consistent

There’s nothing worse than having data in different formats when you analyze it. Your data needs to be in the same data format if you want to do a proper analysis. This includes dates, currency, and decimal places.

Excel allows you to do this by setting a base format for each data column. You set your preference in your column settings, and Excel will apply the same data format to each value in the column.

5. Connect to External Data

Databases and other data storage mechanisms are common today. Even small businesses can use them with other software they use. The question is, can you use this data in other applications?

One of the best Excel hacks for your small business is connecting to other data sources. Instead of manually inserting data in your spreadsheet, you can connect to another database and automatically import your information. This feature saves your company the money you would spend hiring a developer to create custom reporting.

Don’t Ignore the Benefits of Excel

You need all the time you can get to work on the essential parts of your business. The more time you spend doing manual analysis, the less time you have to work on other things. Don’t ignore the benefits of Excel and how much time its features will save.

Attempt to use more than the 5% of features more than 95% of users regularly utilize.

Excel is a superior product to Sheets, but you need to use more of it to realize the benefits for your business.

If you’re not on a subscription yet, consider Sheets too as it also is a viable alternative to Excel and its main attraction, especially for startups is it’s free.

Are you looking for more tools to help you run your company? Read our latest blog posts on data analysis and the latest tools that can help.

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