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Uses of Spreadsheet in An Organisation

Spreadsheets like Microsoft Excel are useful tools for businesses to store, manage, and analyze data. Excel can be used for tasks like data entry and storage, accounting and budgeting, analyzing financial data, collecting and cleaning business data from multiple systems, scheduling resources, visualizing data through charts, identifying trends over time, documenting administrative processes, consolidating data from different sources, and inventory tracking. Spreadsheets provide formulas and functions that allow businesses to perform calculations and gain insights from their data.

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MONIKA RUBIN
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205 views3 pages

Uses of Spreadsheet in An Organisation

Spreadsheets like Microsoft Excel are useful tools for businesses to store, manage, and analyze data. Excel can be used for tasks like data entry and storage, accounting and budgeting, analyzing financial data, collecting and cleaning business data from multiple systems, scheduling resources, visualizing data through charts, identifying trends over time, documenting administrative processes, consolidating data from different sources, and inventory tracking. Spreadsheets provide formulas and functions that allow businesses to perform calculations and gain insights from their data.

Uploaded by

MONIKA RUBIN
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd
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USES OF SPREADSHEET IN AN ORGANISATION

Microsoft Excel gives businesses the tools they need to make the most of their data. Excel
workbooks contain individual worksheets, which we can use to create lists and spreadsheets.
Spreadsheets are used in varied ways within business contexts. In general, spreadsheets store
data sets, but they also provide a range of utilities to manage and process the data sets. This
makes them particularly useful to businesses. Through preset and user-defined formulas,
spreadsheets can perform mathematical, statistical, financial and organizational
transformations on sets of data. Spreadsheets help to present data in organized ways and to
inform future planning decisions. Some of the uses of spreadsheet in an organization are
mentioned below.

1) Data Entry and Storage


At its most basic level, Excel is an excellent tool for both data entry and storage. In fact, an Excel
file size is only limited by our device’s computing power and memory. Worksheets can contain
at most 1,048,576 rows and 16,384 columns. It has features such as Data Form which make it
easy for data to be inputted and viewed, where users can create customized data entry forms
tailored for their specific business needs. This can be used to build and maintain customer
mailing lists or employee work shift lists.

2) Accounting and Budgeting


Excel even includes accounting and budgeting templates for easy use. The software’s built in
calculating and formula features are available to help us organize and synthesize results.
Although comprehensive tax preparation and accounting programs have added features that
allow us to more closely monitor our company's financials and even prepare tax forms, Excel's
easy-to-use data entry tools make it a great choice for month-to-month accounting. We can
create a double entry ledger to record income and expenses, enter sales data, manage
inventory, track your budget and even perform calculations to determine totals and
percentages. These spreadsheets can be turned over to your accountant to simplify more
advanced tax preparation and accounting.

3) Analyzing Data

Once a spreadsheet has some data values in it, you can perform various analytical tasks on this
data. This includes mathematical functions, such as adding or counting values. By entering a
formula or choosing from one of many preset functions, you can analyze your data sets. This
allows business users to sort data, filter it and process it. For financial data, you can calculate
profits and losses. In a general sense, spreadsheet formulas and functions allow you to carry
out performance measurements for many aspects of your business.
4) Collection and Verification of Business Data
Businesses often employ multiple systems (i.e CRM, inventory) each with its own database and
logs. All of which can be exported into Excel for easy access. The program can also be used to
clean up data, by removing incomplete or duplicate entries; eliminating such data from the
beginning is necessary as it can impact later analysis and reporting.

5) Scheduling
Businesses create basic employee and resource schedules with Excel that can be color-coded and
designed to automatically update as the schedules change. Create weekly worksheets with
column headings of each day, and name the rows based on hourly slots or work shifts. Fill in
each slot with the employee or resource name for a given day. A conference room resource
schedule sheet may have Monday from 9 a.m. to 10 a.m. marked for an executive meeting for
example, while Tuesday from 10 a.m. to 11 a.m. is reserved for a conference call. All
departments can work from the same resource sheet so that everyone knows when a given
resource is available for use.

6) Build Great Charts


Excel allows business users to unlock the potential of their data, by using formulae across a grid
of cells. Data is inserted into individual cells in rows or columns, allowing it to be sorted and
filtered, and then displayed in a visual presentation. Using pie charts, graphs and clustered
columns adds meaning to data, which otherwise may just exist as row after row of numbers.
These visualizations can add extra emphasis to business reports and persuasive marketing
material.

7) Help Identify Trends


When presenting data in the form of charts or graphs, it can be helpful to include average lines,
which explicitly detail the key trends emerging from the information. This may help demonstrate
the key points to other users in a straightforward manner – for instance, an executive from a
different department during a board meeting. Excel allows trend lines to be extended beyond the
graph, to offer predictions of future activity – and such forecasts can help businesses develop
their future strategy.

8) Administrative and Managerial Duties


One aspect of managerial duties is creating and outlining business processes. This aids in process
optimization and is an effective tool for organizing procedures and scenarios. Excel offers tools
that allow users to create flow charts, which can include text, pictures, and animations.
9) Bringing Data Together
Excel can be used to bring information from various files and documents together so that it exists
in a single location. As well as raw data and information from other spreadsheets, it is possible to
import text and images. Other objects can be added using the Insert tab, or additional
spreadsheets can be added to the file.

10) Inventory Tracking

While businesses can use powerful inventory management systems, a spreadsheet can also help
with the simple task of keeping track where things are at any given moment. Spreadsheets also
make it easy to sort data and to add and delete columns as necessary. This makes it simple to
order an inventory to see how many of a given item are in stock and which ones are in use.

These are some of the uses of spreadsheet in an organization.

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