MICROSOFT

EXCEL
EXCEL
Meaning of Excel
This is spreadsheet developed by Microsoft for windows, maC os, Android and
iOS.This it's feature by calculation or computation capabilities.
Or
Is the spreadsheet program from Microsoft and a component of it's office
product group for business application.
FEATURES OF MICROSOFT EXCEL
• HOME
This comprises options like font size,font style,font colour, background
colour,alignment formatting options and styles insertion and deletion of cells
and editing option.
• INSERT.
This comprise option like table format and style inserting images and figures
adding graphs charts and spark lines header and footer option equation and
symbols.
• PAGE LAYOUT.
Themes orientation and page setup options are available under the page
layout option.
• VIEW.
Different view in which we want the spreadsheet sheet to be displayed can be edited
here option to zoom in and pane arrangement are available under this category.
• REVIEW.
Proofreading can be done for an excel sheet (like spell check)in the review category
and a reader can add comments in this part.
• FORMULAS.
Since table with a large amount of data can be created in Ms excel under this feature
you can add formulas to your table and get quicker solutions.
• DATA;Add external data (from the web)filtering options and data tools are available
under this category.
BEST RULES AND PRINCIPLES TO FOLLOW
WHEN CREATING OR USING EXCEL
• 1. Keep your formatting consistent
Consistent formatting makes a spreadsheet easier to follow. The importance of
uniformity is proportional to the complexity of the model. A well-formatted model is
good for maintainability, especially for other users. Being consistent means that colour,
fonts and row- and column formats are used predictably throughout your model.

• 2. Keep formulas readable

It sometimes seems like a competition of who can write the longest formula. However,
much more challenging is to design a calculation model that is easy to understand for
other people. It’s a case of finding a balance between compactness and readability.
Break up a formula too much and it becomes hard to follow. Keep it too long and
people lose track trying to decipher it. Use clear labels for intermediate columns. Also
place repeating calculations in their own column and refer back to those where
needed.
• 3. Avoid duplication
Don’t calculate the same thing twice. It’s unnecessary. Much better to
perform the calculation once and refer back to it in subsequent cells. It
doesn’t just help improve performance, it also saves you from forgetting to
update all cases when a change is required. Using a formula result a lot? Turn
it into a defined name.

• 4. Separate input, output, and calculations

Excel doesn’t make it immediately obvious which cells contain formula results
and which are entered values. It’s important to keep them well separated;
ideally in separate worksheets, or else through clear formatting. This way you
avoid accidentally overwriting calculations with new input data. When mixing
in- and output is inevitable, take extra care to give them a distinctive look.
• 5. Delete what you don’t need
Just because a spreadsheet is big and complex, doesn’t actually mean it does very
much. It happens way too often that old parts of a spreadsheet just keep existing
without any real purpose because no one exactly knows why it’s there. This is where
external software can help a lot. If you want to keep a model usable and
readable, you must remove unnecessary parts.

• 6. Simplify complex calculations.

When faced with the need to create a complicated formula involving numerous
functions and/or cell references, consider breaking that formula into a series of
simplified calculations across multiple cells. The result will be formulas that are
easier to troubleshoot and a worksheet that is easier to review.

• 7. Worksheet protection.
In some cases, it may be advantageous to turn on worksheet protection to secure
the integrity of a completed workbook. To do so, first select each assumption cell in
the worksheet, then right-click one of the selected cells, select Format Cells from the
 USES OF MS EXCEL
1.BUSINESS ANALYSIS
The use for Microsoft Excel in the workplace is to do
business analysis. Business analysis is essentially using
collected data to inform decision-making. Businesses
naturally gather data in their day-to-day activities, which
may be data on product sales, website traffic, spending on
supplies, insurance claims, etc.
• 2. PEOPLE MANAGEMENT
MS Excel is a powerful way to organize information about people, whether
they are employees, customers, supporters, or training attendees. Using Excel,
personal data can be stored and retrieved efficiently. A spreadsheet row or
column can be used for an individual record, including name, email address,
employee start date, items purchased, subscription status, and last contact.
• 3. MANAGING OPERATIONS
While Amazon uses sophisticated custom software for operations
management, MS Excel is an essential tool for many smaller businesses (or
parts of larger companies). An advantage of Excel is that it’s relatively low-tech,
allowing it to be used by many people without the risk of programming bugs.
• 4. PERFORMANCE REPORTING
Performance monitoring and reporting is a specialized type of business
analysis that can be done effectively using MS Excel.
• 5. OFFICE ADMINISTRATION
Office administrators use Excel to enter and store much of the data
subsequently used for accounting and financial reporting, business
analysis and performance reporting. Besides record-keeping, Excel is
useful in office administration for day-to-day tasks such as invoicing,
paying bills, and contacting suppliers and clients. It’s an all-purpose tool
for keeping track of and managing office activities.
• 6. STRATEGIC ANALYSIS
Regarding Excel, strategic analysis is where business decisions are
closely connected to the data and formulas on spreadsheets. You apply
Excel to guide actions such as investments and asset allocations.
• 7. PROJECT MANAGEMENT
Although project managers have access to purpose-built Project
Management (PM) software, an Excel Workbook is often an effective
alternative.
• 8. MANAGING PROGRAMMES
Excel is a good platform for managing programmes. It can be adapted
to handle the specific characteristics of a given programme. And,
because MS Excel is widely known, multiple people can easily manage
programme records and, when the time comes, handed over to a new
manager.
• 9. CONTRACT ADMINISTRATION
With Excel, many different contract management templates are available,
and these can be adapted to suit the particular contract type or stage of
the contract life cycle.
• 10. ACCOUNT MANAGEMENT
Account managers are generally required to be competent MS Excel users
since they receive and need to maintain customer records. The job of an
account manager is to nurture relationships with existing clients of the
business. The key goals are to achieve customer loyalty and repeat sales.
ADVANTAGES OF USING MS EXCEL
• 1.To store data. Even if you don't use any of the options or any tool
which excel offers you it is the best way to store data. Why I'm saying
this because excel is a kind of application that is used by millions of
people so when you store data in excel and then share it with others
they can access it easily
• 2.You can print report easily. Even if you are a person who likes to save
trees but there could be a point where you need to print report to
share with others or present them to someone well excel allows you
to print with a lot of customization where you can change the margin
paper size orientation
3.So many free templates to use. One of the most popular things about
excel is you can create dashboard and templates, there are a whole bunch
of free templates that you can download and use free excel template to
start with excel investors template with formulas, sales template with
formulas, sales template expense tracker
4.You can perform calculations. What makes excel the best spreadsheet
application on the planet is its ability to perform calculations, in excel you
have a complete list of function that you can use for the calculations
5.Transform and clean data. If you are one of these people who work with
data a lot or you know someone who works, there are a lot of situations
where you need to deal to with messy data which you need to clean before
you use it
6.Store data with millions of rows. Well there is no limit to data but excel
has a limit in terms of rows and columns, so that why Microsoft came up
with power pivot where you can store data with millions of rows and then
you can perform calculations within power pivot
POSSIBLE DISADVANTAGES OF
USING MS EXCEL
• 1.Difficult to manage advanced pricing rules.
Typically we find excel is used in businesses to manage a pricing strategy
based on cost-plus pricing, or discount from list pricing methods or other
simple pricing strategies. Whilst this does ensure you're selling your goods or
services profitability, it ignores a host of other factors that support a
customers willingness to pay, perhaps most importantly value based pricing.

Without a pricing system, it is difficult to manage, test, and optimize

alternative, more advanced pricing strategies, such a psychological pricing,
quantity based pricing, attribute based pricing, and pricing differently across
markets and geographies to name a few.
• 2. Lack of control and security
When a data file is too large, it can make the Excel program run very slowly,
especially if all the data is in one file. Trying to break the data down into
smaller files can lead to some of it being lost or misplaced. Excel is not user-
friendly and the application rounds off very large numbers using imprecise
calculations, which compromises accuracy.
Excel is also a standalone application, not fully integrated with other business
systems; it does not provide sufficient control because sales managers don’t
have easy and consistent visibility of the quotes sent by their reps, or the
history of those quotes.
Each time employees make changes manually in Excel, there is a risk of
introducing errors and compromising accuracy. These mistakes are not only
hard to locate further along the process but can also negatively affect the
bottom line.
• 3. Excel is vulnerable to fraud/corruption
Fraudulent manipulations in company Excel files have already resulted in some
million pound losses. The main underlying reason behind this spreadsheet
vulnerability is the inherent lack of controls (see above) which makes it so easy
to alter formulas, values, or dependencies without being detected.
• 4. Excel is susceptible to human error
More mundane but equally damaging is Excel's extreme susceptibility to trivial
human errors. Missed negative signs and misaligned rows may sound harmless
but when they damage investor confidence or cause a considerable loss of
opportunity amounting to millions of pounds these are make or break errors.
On average, a spreadsheet will contain 1 error for every 20 cells that have data.
• 5. Excel is difficult to troubleshoot or test
Spreadsheets are not designed for testing. It’s not uncommon to have
interrelated spreadsheet data scattered across different folders,
workstations, offices, or even geographical locations.

Even if it is possible to pinpoint the locations of every related file, tracing

the logic of formulas from one related cell to another can be time
consuming. Similar problems will be encountered when troubleshooting
any questionable data.