8 Reasons to Learn Excel
#1 Organize Your Data
The first reason why you should learn Microsoft Excel is that it will help you organize your data. Microsoft Excel provides various functions to filter your data as well as keep your data organized. Whenever you want to look for something, you can either use the filter or you can simply have a quick look at the sheets to find out.
You can also use the graphs and charts to view the data in visual form. Some of the finance functions make your work even easier. Feel free to have a look at PMT, PPMT, IPMT, SLN, and similar functions available on Excel to know more about it.
#2 Learn the Industry-standard Tool
Excel is the industry-standard data analysis tool and is used across the world in most companies. Excel can handle your entire finance and accounting with ease. You can quickly add the graphs, charts, filters, math functions, formulas, etc. One can use excel as any type of software. In other words, you can use it to create an invoice or you can also use the software to create financial reports. You can use it to track sales, margins, orders, etc with ease. There are a couple of templates available that you can directly start using or you can also create a custom sheet as per your requirements.
#3 Speed Up Calculations
Excel has a ton of math functions and also allows you to enter custom formulas. The other good thing about the software is that once you create a formula, you can simply use the same formula for all the rows.
This small automation reduces the work of copy and pasting the same thing over and over again. It looks simple at first but if you consider all your employees, you will save more time. It only takes 2 minutes to calculate manually. Now, let’s say, you are working with 10 people, that’s roughly 20 minutes. If you calculate the time daily, it will save you a lot of time overall.
#4 Analysis and Forecasting
Once you organize all your data in the sheet, you can analyze it to do the forecasting predictions. It will help you to do the “What if” analysis with ease. Also, there are various charts and filtering options to make your predictions easier. Create forecast, use Data Tables, leverage Goal Seek, and more.
Once the calculations are done and everything is shown in a single sheet, it will be easier for you to analyze the data and make the decisions accordingly. It will give you a better idea to make decisions.
#5 Save on IT Costs
There are several ways on how Microsoft Excel will help you reduce the costs. The first thing is that you will not have to pay for any other software. You can do several works on Excel. For instance, you will not require any finance tool. The next thing is that you will save a lot in IT cost.
Most of the organizations rely on their IT companies to provide the data and analytics. Moreover, some of the companies even pay for the same thing. Now, you don’t need to rely on your IT companies to get the reports, you can generate it from Excel whenever you want.
#6 Increase Salary or Profit
There are two possible situations here. If you are running a business, you will see an increase in your profit. This is because you are saving a lot of time from your employees by doing half of the things in excel.
Further, your team will make better decisions by analyzing the data. In the same way, if you are doing a job, you will get a better salary if you have mastered Excel. Nowadays, most of the companies are using Excel. They will pay you more if you already know how to use Excel and your boss will be impressed if you can give them a couple of suggestions for Excel.
#7 Increase Efficiency
Another reason why you should learn Microsoft Excel is that after learning it, you can do most of your tasks. Excel has various functions and there is a lot more to explore. More functions will give you more features and hence, it can help you in many different ways.
You can solve simple as well as complex problems with it. There are enough options to do almost whatever you want. Further, if somehow you are not able to do the task then you can use third-party Excel tools. There are many third-party tools or extensions available for Excel to increase its functionality. Depending on the tool, it will add a couple of more features to Excel.
#8 Easy to Learn
After reading the 7th point, you might be thinking that Excel will be difficult to learn. Actually, Excel is one of the easiest tools to learn, even if you aren’t the most tech-savvy person. There are tons of resources to help you in your Excel journey and we offer a handful of classes from beginner to advanced to get you going.