MS-Excel is widely employed across industries and private life alike. But what are the main uses and applications for which MS-Excel can provide are-
Data storage and entry-
Excel is a great tool not only for entry but even for the storage of data. Excel can be used widely because it can store lots of data, but the size of Excel file storage depends upon the availability of memory in the system and the computing capacity of the device. Also, Excel can be used for organizing data for various purposes, and files while viewing and accessing are also made easy. Various lists can be created as per requirements and filled in with the required details.
Accounting and budgeting is one of the widely used applications and is used by companies to maintain customer records. Customer records are maintained by accounting managers to maintain good relationships with their customers and clients. MS-Excel even comes with budgeting templates that can directly be used for working. It also provides details on the transactions, and payments when entered and saved, thus can be used for future reference. Budgeting can also be performed using payment, invoices, and transaction details and therefore can be used for accounting purposes.
MS-Excel has various in-built functions that can be utilized to perform various tasks. Excel contains more than 450 functions that are categorized. Some of these functions include trigonometry, time, financial, math, etc. These functions can be implemented on any row or column of a spreadsheet and every cell in the whole row or column is subjected to that formula. We enter the values in the cells to get the corresponding result and even use it subsequently in other functions. Even the basic calculations such as addition, subtraction, and other functions can even be entered manually. Manual entering of formulae is also possible through coding or using macros.
Data analysis can be easily done in MS-Excel. Analyzing data can be easily done in MS-Excel using Pivot tables and formulas after entering the values in the cells. We can use these features to consolidate large amounts of data and focus on the essential segments only. By applying features like sort, maximum, and swap, essential data segments can be isolated or maintained systematically.
Representation of data-
Representation of data is one of the most widely used features. It is always more interactive and better to visually depict details than represent them in values and tables. Some of the widely used application methods include charts, figures, histograms, bar graphs, and other forms. MS-Excel contains various built-in templates that can be used. These can be easily utilized by selecting the format and entering the values and data.
Business duties and templates-
MS-Excel has evolved from more than just data entry and storing software. It has been developed to aid in business duties through upgrading basic features. The main aspect of managerial and business duties is to maintain existing and create new business processes. MS-Excel can be used for a variety of purposes such as invoicing, payments, profit, loss, etc. It can also be used to store financial reports, employee progress, accounting details, etc.
Visual Basic for Applications-
Visual Basic for Applications is one of the greatest tools in MS-Excel. VBE can be used to write code directly in the spreadsheet and therefore alter and manipulate the spreadsheet functions as per our requirements. This provides various advantages over normally available functions and therefore provides extensive applications and features.
Other than these, MS-Excel contains various other features and uses such as forecasting, calendar, repetition, importing from other formats, and various other applications that help in providing ease in complex problems and aid in daily life.