June 22,  2022

The Importance of Microsoft Excel in Business to Boost Workflow Performance


One of the accurate indicators of a product’s success is its penetration rate. Microsoft Excel is one of them. There are a staggering 1.1 billion users worldwide of Microsoft’s Productivity Services, including Microsoft Excel. Have you ever considered why Microsoft Excel in Business is still popular and widely used across the globe? It is an essential business tool due to its versatile features and analytical capabilities. This software program enables businesses to organize, analyze, and interpret large amounts of data quickly and efficiently. Learn more about what Excel has to facilitate and automate your business system and boost productivity. 


Microsoft Excel is an Evergreen Universal Data Management Tool 

How has this 40-year-old software remained up-to-date and relevant to most businesses? Although there are a lot of emerging powerful and advanced tools like Python and SQL, Microsoft Excel is still indispensable for “grinding” the necessary data. When it comes to quick and accessible data analysis, spreadsheets remain to be the most common and accessible tool.  

Having said that, most firms seek individuals with functioning expertise in Excel. You may easily obtain new employment chances or promotions regardless of your industry or profession. Snatch any chances you come across to be a certified Microsoft user to add more value to your professional toolkit.  

An efficient business process or workflow has a centralized system, and believe it or not, Excel got your back! A small or gigantic business needs data visualization, powerful functionality, data processing, and seamless accessibility for millions of data fields efficiently at the comfort of your fingertips to perform specific processes. These friendliness features make Microsoft Excel the top choice for data management in the world’s businesses.  

Excel is a universal data tool easily compatible with many other popular data analytics tools such as Google Sheets and more advanced data analytics options like Python and SQL. They share the standardized “CSV” data storage format. Nevertheless, Excel remains the most user-friendly and commonly utilized data analytics tool for companies, and this is unlikely to change. 

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How Important is Microsoft Excel for Business?

Excel has undoubtedly become the most crucial computer software in offices all over the world. In business, any function in any job industry is in top demand of professionals with strong Microsoft Excel backgrounds. Its main key attributes are quick access to data storage, greater flexibility, many tasks automation, analytical capabilities and clear data presentation. 

Businesses use Excel for budgeting, analysis, forecasting, spotting trends, reporting, and more, as it is the easiest tool to store, visualize, and analyze data. Microsoft Excel also provides its users with many benefits in multiple corporation segments, including: 

Human Resources Planning or People Management

  • While technology has advanced to support many HR functionalities, some companies still opt for Microsoft Excel to manage payroll, store employee information, and track attendance and overtime. HR professionals can utilize excel to get an in-depth insight into all the data at a single click. It also lets you lay out all your workbooks to your main spreadsheet for crunching and analysis. 

Finance and Accounting 

  • The most popular department relies totally on the benefit of Microsoft Excel to carry out its function. If you walk into the finance department in your current or previous company, computer screens filled with Excel spreadsheets crunching numbers, graphs, and charts are the normal view you will see. When you set it right, Excel gives you a lot of automation and makes it easy to identify and analyze trends and patterns in large amounts of data.  

Project Management and Marketing 

  • How do project management and marketing use Microsoft Excel heavily? They always work in terms of financial analysis to get the budget projection, forecasting, and future marketing planning. The spreadsheets used to list customers, and sales targets can help you manage your salesforce and achieve your goals. Using a pivot table, you can quickly and easily summarize customer and sales data by category with a quick drag-and-drop. Also, you can process data and analyze graphs and charts for presentation.

Microsoft Excel in Business and its Undeniable Functionality 

So, with all the information stuffed above, why is Microsoft Excel still popular? You can do ANYTHING with a spreadsheet. It has almost no limits for application. It is also widely supported by other data pipelines and automation tools to keep up with the latest technology trends.  

Next, it is extremely flexible. You can use VLOOKUP to compare two data sets, and you are done in just a few minutes. Click on the pivot table if you need to summarize a huge amount of data quickly. Or, if you want to create a budget and identify the performance monthly, use the IF function and conditional formatting to get up-to-date data in a blink of an eye. 

Again, Excel is widely used in organizations, so it is a highly marketable skill. You go to ANY company; they will use Excel. Its practicality, time-saving, and easy navigation are the top reasons why people will always look after Excel more than the other alternatives. 

Finally, Microsoft Excel has better sharing and connectivity. You can share and collaborate with other project members through Share Point or One Drive. It is as easy as sending everyone the link to the same file, and you can edit the file in real-time. 

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How to select the best Excel course for you? 

Now you understand the importance and increasing demand of Microsoft Excel skills can be, don’t miss out on equipping yourself with advanced skills to elevate your marketability worth. How to choose the best Excel course for you? 

First of all, you have to identify your competency level in Excel. Each of us has a different approach to Excel according to our experience level in the working industry. Here are some tips you can follow before you decide: 

  • Sign up for Microsoft Excel pre-assessment, like SIMnet, to evaluate your existing Excel skills, so you can save time learning new skills you are unfamiliar with. 
  • If you are a busy person, you can easily learn Excel online. Look for online courses in the comfort of your packed schedule. Skillsture offers a live-streaming training platform where you can easily attend the class twice daily and get real-time access to the trainer if you have any questions. 
  • But if you prefer a physical class on Microsoft Excel advanced training, find a course that includes Power BI in its curriculum.  
  • Lastly, stay current on various updates and improvements in Microsoft Office regularly. It is always an added advantage if you earn Microsoft Excel Certification. 

Key Takeaways

Although a company may wish to employ more powerful tools as it grows, most firms can save time, acquire the necessary answers, and assure smooth daily operations by utilizing spreadsheet technology.  

Microsoft Excel’s ability to automate repetitive tasks, perform complex calculations, and sort and filter data sets make it an invaluable asset to businesses of all sizes. In short, Microsoft Excel has become an indispensable tool for businesses to streamline their processes, increase efficiency, and, ultimately, make informed decisions. 

Learn Microsoft Excel on Skillsture now