Function Categorization

The three most common general uses for spreadsheet software are to create budgets, produce graphs and charts, and for storing and sorting data. Within business spreadsheet software is used to forecast future performance, calculate tax, completing basic payroll, producing charts and calculating revenues.

The most common reason to use spreadsheets is to store and organize data, like revenue, payroll and accounting information. Spreadsheets allow the user to make calculations with this data and to produce graphs and charts.

• Arithmetic functions : offer basic tools to process numerical data.
• Statistical functions: have analysis tools, averaging tools.
• Date functions: process and convert dates.
• Logic functions: process logic data (AND, OR, etc.).
• Financial functions: process monetary data.

Top 10 Uses of Microsoft Excel in Business

• Business Analysis. The number 1 use of MS Excel in the workplace is to do business analysis.
• People Management.
• Managing Operations.
• Performance Reporting.
• Office Administration.
• Strategic Analysis.
• Project Management.
• Managing Programs.

7 Popular Business Uses for Microsoft Excel

• Data entry and storage. At its most basic level, Excel is an excellent tool for both data entry and storage.
• Collection and Verification of Business Data.
• Administrative and managerial duties.
• Accounting and budgeting.
• Data Analysis.
• Reporting + Visualizations.
• Forecasting.

Excel Basics

• Creating a new spreadsheet from scratch.
• Executing basic computations like adding, subtracting, multiplying, and dividing.
• Writing and formatting column text and titles.
• Using Excel’s auto-fill features.
• Adding or deleting single columns, rows, and spreadsheets.

VLOOKUP. The VLOOKUP function is one of the most commonly used and recognizable functions in Excel.

Seven Basic Excel Formulas For Your Workflow

• =SUM(number1, [number2], …)
• =SUM(A2:A8) – A simple selection that sums the values of a column.
• =SUM(A2:A8)/20 – Shows you can also turn your function into a formula.
• =AVERAGE(number1, [number2], …)
• =AVERAGE(B2:B11) – Shows a simple average, also similar to (SUM(B2:B11)/10)

Formula is an expression that calculates values in a cell or in a range of cells. For example, =A2+A2+A3+A4 is a formula that adds up the values in cells A2 through A4.

The parts of an Excel formula

• A formula can also contain any or all of the following: functions, references, operators, and constants.
• Parts of a formula.
• Functions: The PI() function returns the value of pi: 3.142…
• References: A2 returns the value in cell A2.

A formula is an expression telling the computer what mathematical operation to perform upon a specific value. In the picture below is an example of a Microsoft Excel formula =SUM(A$1:A$3), which adds the total of cells A1, A2, and A3. In this formula, SUM is the function of the formula.

Formula – Definition with Examples The formula is a fact or a rule written with mathematical symbols. It usually connects two or more quantities with an equal to sign. When you know the value of one quantity, you can find the value of the other using the formula.

Excel spreadsheets display a series of number or pound signs like ##### in a cell when the column isn’t big enough to display the information. All versions of Excel do this, and most formulas in Excel are the same regardless of the version used.

A 3D formula is a formula that refers to the same cell (or range of cells) on multiple worksheets. The 3D formula “=SUM(Sheet1:Sheet4! A2)” can be used to add up the numbers in cell “A2” on 4 different worksheets. If you copy or insert a new worksheet after Sheet1 the reference will automatically include it.

A 3D reference in Excel refers to the same cell or range of cells on multiple worksheets. It is a very convenient and fast way to calculate data across several worksheets with the same structure, and it may be a good alternative to the Excel Consolidate feature.

PMT, one of the financial functions, calculates the payment for a loan based on constant payments and a constant interest rate. Use the Excel Formula Coach to figure out a monthly loan payment.