Excel Features That Will Help You Get Organized And Efficient
By TOI Team June 2, 2023 Update on : June 2, 2023
In today’s digital era, where organizations emphasize data, learning to leverage technology efficiently to solve everyday problems and eliminate manual efforts is essential. Microsft Excel is an indispensable tool that can help you become highly organized with your professional and personal work tasks. The more organized you are with your data and work systems, the better your output.
With the increasing workload in offices worldwide, companies prefer to hire professionals who know how to harness the power of Excel. It helps the team save time by minimizing manual labor. Employees trained in advanced Excel functions can better present their company’s data to senior management and encourage data-centric decision-making. It makes you a valued employee and adds immense value to your skill set.
What is Microsoft Excel?
It is a spreadsheet software application that helps you store, manage, and analyze data. You can use it for various purposes, such as preparing budgets, creating sales reports, balance sheets, and workflow schedules. You can also effectively track your efficiency through the featured checkbox in Excel.
It is known for its formulas and advanced features that can help you navigate through large numbers or data sets efficiently by automating repetitive tasks, thus reducing lengthy mundane tasks into a few seconds of work. As a result, numerous business teams consider Excel one of the most powerful tools that streamline workflow, boost productivity, and increase efficiency.
How can using Excel make you more organized and efficient?
Microsoft Excel offers countless ways to stay organized and save valuable time. Here are a few ways to get the most out of spreadsheets using Excel’s advanced functions.
1. Easily manage and interpret data
You can use the different Excel features to create dynamic reports, graphs, or charts that can improve your data analysis. It helps you to make informed business decisions based on data. With the right Excel training course, you can visualize complex data sets in a useful and appealing manner that helps you interpret the data more effectively.
The basic and advanced formulas can help you complete complex calculations in just a few minutes and automate the forecasting of trends. With consistent practice, you can speed up your tasks.
2. Improve accuracy and reduce errors
Higher input from manual efforts leads to higher chances of errors. The slightest mistake in entering the correct data or not knowing how to use the spreadsheet effectively can waste your time, resources, and money.
However, it is possible to avoid these mistakes by adding checks to the sum, averages, and other calculations. Advanced Excel functions like sorting, filtering, and arranging data ensure no errors and increase your efficiency in data analysis.
3. Customize Excel settings to save time
When you put in less time towards repetitive tasks, you can utilize that time to focus on more important work. When you customize Excel settings according to your requirements, adjustments are quick, and you can complete your tasks faster. It not only saves time but also increases your productivity.
Customized Excel settings could involve changing background colors and applying specific formatting to a group of cells, among other preferences. You can also create templates that allow easily replicating data sets with just a few clicks, saving time and effort.
4. Analyze financial statements
Excel helps you analyze financial statements and spot potential areas of risk and growth. Moreover, it gives insights into improving your company’s performance based on cash flow. You can also forecast future performance based on past financial data to make informed decisions about the future economic direction of your organization.
Analysts can use Excel advanced functions like PMT, NPV, etc., to identify trends and interpret financial models. You can also use its features to analyze your personal financial statements and track your money effectively.
5. Include shortcuts and macros
Using shortcut keys while working on an Excel sheet can help speed up your work process. It enables quick shifting between various cells or sheets. In addition, the shortcut key combination prevents you from getting your hands off the keyboard and maintains your focus on organizing and analyzing data.
You can also use macros, an advanced Excel feature that allows you to record a series of steps and play them repeatedly with a single keystroke. Taking advantage of the shortcut and macro features can save time and increase efficiency.
List of Basic and Advanced Excel functions
When working with complex data sets, Excel’s advanced functions can transform time-consuming tasks into a few seconds of work and help in data analysis to gain valuable insights. The following are a few of the most advanced Excel functions to ease your work.
1. Index Match
It is a combined formula of two separate functions. The Index formula returns the value of a cell based on the column and row number, whereas the ‘Match’ formula returns the cell’s position. The syntax is highlighted below:
=INDEX(Cells, MATCH 1, MATCH 2)
This formula results in the sum of values within the specified range of cells that meet a particular requirement. The formula is stated below:
=SUMIF(Range, Criteria, [Sum Range])
3. If and Function
Combining the IF function with the AND or the OR function can make it easy to understand and sort the data using specific conditions. The general syntax for this function is stated below:
=IF(AND(Condition 1, Condition 2)1,0)
4. Insert Checkbox in Excel
When creating an Excel checklist, the first step is to insert a checkbox. Next, you can list items or tasks you want to insert checkboxes. Execute the following steps to insert a checkbox in an Excel sheet.
- Go to the developer tab and select ‘controls.’
- Select ‘Insert’ and click on ‘Form Controls.’
- Click on the ‘Checkbox’ icon. Then click on the cell where you want to insert the first checkbox.
- Click enter. The checkbox will appear in the cell.
Excel is a powerful tool offering extensive functions for data organization, analysis, and interpretation. Whether you are a business professional or an employee looking to gain an edge in the job market, having strong expertise in managing Excel sheets can elevate your work performance.Read more: Excel Features That Will Help You Get Organized And Efficient