Why Excel Remains Vital To Small Business

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With the emergence of a wide variety of apps, online software and additional hardware to help out small businesses, it can seem slightly odd to deem old school Excel as vital to the success of your company. However, Excel remains a stalwart of spreadsheets. While most people in the office will be able to whip up a PowerPoint or use Word to draft a document, only a select few will be able to use Excel to its full potential. You might be good at coloring in a cell or totaling up a column but can you use a spreadsheet to help your company identify sales trends and predict future profitability? Take a look at why Excel remains imperative to your business venture.

Beyond The Basics

Excel isn’t merely a giant calculator. Since its release over thirty years ago, Excel has developed into the go-to tool to present data in a highly visual way. You can create a bar chart based on sales figures, a line graph detailing your financial projections and a pie chart to show your market share within your industry. With the release of the intuitive Microsoft 365 Business, you can effortlessly link your work across Word, PowerPoint and Excel. If you want to insert your informative 3D scatter diagram into a presentation, you can do so at the click of a button.

Formulas

Those individuals who relish the opportunity of learning computer science and applying their mathematically wired brains to new situations will enjoy getting to grips with the functionality of Excel. You can work out averages within a set of data, filter the data within your grid according to set criteria or even use an advanced set of formulas to view data wholly dependent on whether a statement is true or false. The ease at which you have a wealth of data at your fingertips that you can manipulate through the power of a formula is mind-boggling.

Data Entry

At its most simple, Excel is a fantastic tool to collate information and list it. You could construct a list of employees and detail their shift pattern for the following quarter, or you could perform a stock check of all the products you have ready for sale. Excel spreadsheets are vast, so you never run the risk of running out of space or having too much data to fit into one grid.

The Twenty-First Century Excel

Online accessibility to Excel now means that any employee with the appropriate security rights can access the spreadsheets of your business. It doesn’t matter whether your staff member is at his desk, working from home or having a quick latte at his favorite coffee shop, he will be able to view and edit within Excel on any WiFi enabled device.

If you haven’t done already, get some of your staff members formula savvy. While Excel certainly does have its rivals, the sheer size and market footprint of Microsoft means that it will be the tool of choice for small businesses for the foreseeable future.

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