Data Analysis in Excel

Excel is a tool that continues to be highly relevant in the world of work. Thanks to it you can create tables, graphs, reports and even data analysis to keep your business management afloat.

Since the 1980s, this platform has had the function of being able to work with numerical data and perform arithmetic calculations that can range from basic operations to more complex ones.

In this article we will explain how you can take advantage of and work on data analysis to have more information about what is happening in your company in terms of numbers. We will also tell you what it is for you to know this information and we will give you some tactics so that you can optimize your resources to the maximum.

Pros and usages of data analysis in Excel

1. Provides easy data analysis

2. Offers measurement of consumer behavior

Excel analysis lets you know where you got the most revenue and the most interest from consumers. Knowing this information is useful to measure the behavior of customers about your merchandise, to know what they like the most, which one sells more and which less.

3. It facilitates making better business decisions

By executing your data analysis you can get improved conclusions about how your business has progressed over a month or longer. This allows you to make more appropriate decisions in the future and enhance those strategies already applied with good results.

4. Allows you to recognize performance problems

By having statistical data with Excel analysis, you have the opportunity to detect those performance problems on a product or service, know if you sell less and thus take actions to improve the presentation of the product.

5. Facilitates the detection of business risks

Data analysis is vital to recognize the risk of a company. The figures can tell you if there is a possibility of losing money or customers. It should be noted that the risk in a company will always exist, but knowing this data will allow you to reduce it and take timely and preventive actions so that the consequences are minor or imperceptible.

Here in this tutorial, you will get very good knowledge of excel:

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