Is Excel Still Essential To Data Analytics?

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Is Excel Still Essential To Data Analytics?

Siddharth Siddhu

@siddharthsiddhu

August 12, 2022

Data Science & AI Community

217

Introduction to Excel

Even after more than 30 years, Excel spreadsheets continue to be helpful. The original idea isn't all that far from what we use now; it just looks nicer and has many more modern features.

Spreadsheets remain helpful and are a fantastic resource for learning about data. Although it isn't always the best or most appropriate choice for data projects, it is nevertheless a trusted and reasonably priced tool for analytics.

It's a fundamental framework for intelligent data because it helps you thoroughly comprehend the analytics procedure. Because Excel continues to be a thoughtful approach to extracting practical insights, many sectors of business and industry continue to stress the value of Excel expertise. Excel spreadsheets may be used to evaluate revenue patterns, operations, and marketing trends, but the process is the main benefit.

The Importance of Excel in Data Analytics

Microsoft Excel soon gained popularity as the most widely used spreadsheet program and established itself as the de facto standard for spreadsheets. Business professionals have long relied on Microsoft Excel as their go-to data analysis and visualization tool.

Any data analyst's primary objective is to combine disparate data points and utilize them to tell a coherent story. It can be done affordably using Microsoft Excel. Businesses use this software to accomplish both complicated data analyses and basic mathematical computations.

Although corporations now have analytics tools that are more sophisticated than Microsoft Excel, Excel is still a component of the greater data ecosystem. This is primarily due to Microsoft Excel for Data Analysts' simplicity, focus on important functionality, and user-friendliness. Data is organized into a readable format using a Microsoft Excel Spreadsheet, making it simpler for data analysts to glean insights.

The Key Features of Excel for Data Analysts

Pivot Table
Conditional Formatting
LOOKUP
What-If Analysis
Data Visualization

Pivot Table

One of Microsoft Excel's most used tools for data analysts is the pivot table. A summary table enables users to count, average, total, and do further calculations based on the selected reference feature. This facilitates the transformation of a data table into an inference table, which helps data analysts conclude.

Refer to the data science course to know how the Pivot table works.

Conditional Formatting

Data analysts can highlight cells in a certain color based on the value of the cell and the criteria they define using conditional formatting in Microsoft Excel. It's an excellent method for visually emphasizing information or finding trends and outliers in data.

The HLOOKUP or VLOOKUP vector form of LOOKUP searches one row or one column for a value. The Data Analyst uses it to define the range containing the values they want to match. While the H in HLOOKUP stands for horizontal search, the V in VLOOKUP stands for vertical search (in a single column) (within a single row).

The Array Form of LOOKUP searches an array's first row or column for the specified value and returns a value from the same location in the array's last row or column. The Array Form of LOOKUP is useful if the values that need to match are in the array's first row or column.

What-If Analysis

Data analysts may readily compare the outcomes of several situations by using what-if analysis. To do this, you may play with the cell values to observe how they affect the results of formulas on the worksheet. Three What-If Analysis tools are available in Microsoft Excel for Data Analysts and may be utilized according to user needs.

Data Tables
Scenario Manager
Goal Seek

Data Visualization

Charts and Pivot Charts are the two data visualization tools available in Microsoft Excel for Data Analysts. Microsoft Excel Charts' use of color, a straightforward presentation, and adaptability aid in comprehending data analysis findings. Microsoft Excel offers a variety of chart formats, including

Useful for comparative data analysis are column charts,
Pie charts are used to show data that is proportional.
Useful for examining patterns over time are linear charts.

Conclusion

This article taught you about data analytics and Microsoft Excel for data analysts. Additionally, it discussed Microsoft Excel's value for data analysts. In addition, it taught you about the five essential features of Microsoft Excel for Data Analysts.

Data Science best data science course

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Siddharth Siddhu