What Is Microsoft Excel?
Microsoft Excel is the most important tool of every business to maintain records, do some calculations on data, Accounting, and inventory tracking, etc. but these are some of the uses of MS excel, but what is the proper excel definition? In definition, MS Excel is spreadsheet software that uses data cells to store data and information and for processing as well. To explain the excel meaning more clearly; MS Excel is used to store numbers and data to manipulate and perform calculations with the help of functions and formulas for financial analysis.
Now, when e is done with the excel definition, now us see the spreadsheet definition. A spreadsheet is an electronic or digital document that is used to store and perform calculations on the data using formulas.
Now, after explaining the excel definition, let us now move on to some cool things you can do with excel besides maintaining records.
Uses of Excel
There are various uses of Microsoft excel as MS excel is dynamic and flexible to be used with any kind of data. Some of the major uses of excel are listed below:
- Financial Analysis.
- Graphs and Charts.
- Task management.
- Data Entry.
- Data Management.
These are the major operations excel is used for. But, do you think these are the only tasks you can perform using Excel? The answer is NO. Well, what are other uses of ms excel?
Accountancy
An amazing purpose of Microsoft excel is the basic need of every business or organization. Every organization needs financial records, financial reports, Business forecasts, Loan calculators, Budget Plans, and many more. Excel is not developed just for calculating some numeric values. The major purpose it serves is financial record keeping and accounting to fulfill business needs.
Stock Tracking
By Excel Definition Excel is just spreadsheet software. But, there are other tasks you can do using Excel. Stock tracking is one of the main tasks that are performed on Excel. Excel is pretty good at handling stocks for employees and organizations to keep everything in sight for quick access and analysis.
Creating Charts
One of the major Microsoft Excel uses is creating charts based on numeric data to visualize and understand the data in a better way. There are various types of charts available in Excel:
- Pie charts.
- Scatter charts.
- Line charts.
- Bar charts.
- Area charts.
- Column charts.
If you want to demonstrate the numeric data then there is no better way than creating a chart. Using Microsoft Excel to make your data representation colorful is a creative and interesting way of dealing with data.
Create Seating Charts
Seating chart as denoted by the name, excel uses seating charts for visualizing seating arrangements of a particular place or room. It is a great way of looking at and creating the idea of the future arrangement. It basically shows the possible real-world arrangement in a graphical chart.
Accounting and Financial Analysis
Excel is predominantly used for accounting and financial record-keeping and analysis. If you look around you or even look at yourself, you might have been using MS excel for some kind of accounting purpose like budgeting, Recording, and analyzing the data.
Another factor that plays an important role that increases the significance of MS excel. It is its robustness and openness. MS Excel is used almost everywhere for the purpose of record handling. MS Excel has another plus point of “Availability”. Yes, MS Excel is not bound to be used by organizations or businesses, it can be used by anyone who is seeking accounting software.
There is a long list of people who use Excel for daily operations but some of the prominent roles are Analysts, Bankers, and Accountants.
Project Management Charts And Templates
Even though there are hundreds of other project management tools available for this task but the availability and flexibility of Excel wins again. Excel uses project management templates to let you create project management charts very easily. MS Excel has made data management in reach of almost everyone. The Project Management Templates are listed below:
- Gantt Chart.
- Task List Template.
- Project Timeline Template.
- Project budgeting.
- Kanban Board Spreadsheet.
- Content Calendar Template.
- Timeline template.
- Project timeline.
- Project Tracker for Contractors.
- Project-Based Time Card.
- Simple Project Schedule.
Excel Goal Planning
The excel definition tells us that is accounting software. But, here is another one of the amazing uses of Microsoft excel. Can you imagine planning a fitness goal on Excel? But it’s true; you can create a fitness goal plan using MS Excel. Not just fitness goals you can plan your financial goals using MS excel. In definition, excel is just an accounting software but The Purpose of excel Depends upon your need
Data Recovery
If you have stored some important data in Excel and somehow it gets deleted or damaged, do not worry all the data stored in Excel can be restored using XML format. Let’s suppose, you are a teacher and you have maintained 1-year attendance of students and somehow it gets deleted. Do not worry, by using the XML format you can recover whatever data was deleted.
Final Words
From Excel Definition to the major uses of Excel we discussed almost everything that you can do with Microsoft Excel. Microsoft Excel is a powerful yet lightweight tool and available to everyone in every home. MS Excel is a robust and flexible application that can serve multiple purposes. This might look like a lot, but trust me it is just surface scratching.
