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Excel Report – 10 Golden Formulas For Reporting and Analyzing Business Data

Much has been said about Excel’s inefficiency for storing and querying data, and I’ve found that these comments almost always come from database developers, BI industry guys, or people who push Excel to its limits when dealing with large amounts of data.

Excel can help with your reports…

It is true that Excel is great as a report editor for its extensive statistical/scientific function library but it is not a great tool for manipulating large data or finding patterns in your data.

But we’re talking here about the random files that reside in your workbook, the tables that usually come from a complex query generated by powerful database software.

You can use Excel to find patterns in the data and then present the information as useful and insightful reports.

“Both Excel and Access are good tools for finding patterns in data. But they work with different types of data and help users find different types of patterns using different analytical and presentation styles.” – Charley Kyd – ExcelUser.com

Here are some of the types of operations you can do using pure Excel formulas:

  • Filling tables with data from other tables
  • Collect/merge information from different tables
  • Comparison of tables
  • Finding patterns
  • Finding exceptions
  • Collection of trends
  • Progress monitoring
  • Joint actions
  • Playing with data
  • Data reconciliation
  • Dating data

The purpose of these Excel functions and formulas is to return values ​​from Excel databases (appropriate files) to cells in Excel reports and analyses.

Excel includes more than 300 functions. You only need 10 of them to create reports.

  1. VLOOKUP and VLOOKUP + Auxiliary Column
  2. INDEX and MATCH
  3. Array Formulas
  4. SUMPRODUCT
  5. SUMIF
  6. SUMIFS
  7. COUNTIF
  8. COUNTIFS
  9. AVERAGEIF
  10. AVERAGEIFS

Of course you need other formulas, but these are the building blocks, for example you might need to calculate the standard deviation of the return value or sum different return values.

Disappointment

Take these formulas and you will get a boost in your reporting skills, you will soon get a boost in your Data presentation abilities.

“… you can become a data god who can search, manipulate and analyze by learning a few Excel Formulas. Pointy Haired Dilbert” – Chandoo.org

I find the use of search formulas inside other formulas the most valuable aspect of its practical use.

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