Microsoft Excel is very important in the business world, but it is true that few names are as familiar and resonate as strongly as Microsoft Excel. Since its launch back in 1985, Excel has evolved to become a tool in all the offices of large companies and organizations in all sectors of the world. With a great capacity to organize data, you can create visualizations, complex calculations and all kinds of functions.

Microsoft Excel is Very Important in the Business World

In the simplest way we can think of Excel, it is a spreadsheet designed to organize data in rows and columns, and thus allow for all kinds of analysis and visualizations. However, this goes much further, and Excel’s advanced functions such as macros, pivot tables, formulas and other types of customizations have turned Excel into a very important tool for data analysis, real-time reporting or, for example, financial planning.

For decision making

This is one of Excel’s strengths, as its ability to make analytical decisions is very important. Using all kinds of formulas, users can analyze large amounts of data and obtain valuable information to support the most important decisions. This can be calculating margins, analyzing trends or making financial or accounting projections of all kinds. Excel provides the necessary functions to evaluate all kinds of scenarios and make important decisions.

Efficiency and productivity

In an environment where time is a precious resource, Excel can help provide solutions that improve this precious productivity and efficiency. Automation functions, made possible through macros, or pivot tables for example, allow users to avoid repetitive tasks. In addition, built-in templates and functions can be used to speed up the process of creating reports, freeing up time for more important functions and adding value.

Collaboration and communication.

Teams work differently than they used to in the past, as the option to share and collaborate on documents is completely different. Options like Microsoft 365, teams, even if they are in different countries and geographies, can collaborate in real time on spreadsheets and make changes and edits simultaneously. This makes problem solving and decision making much more effective in addition to the communication that can be done in real time.

The way to impact different sectors

Excel’s impact extends across a wide range of industries and disciplines. Many different fields have benefited, but primarily the financial sector, as Excel is a functional tool for budgeting, data analysis and risk analysis. The world of sales and marketing is also used to track clients, create all kinds of reports, or as a portfolio manager. Similarly, in engineering and science, Excel is used to model data , perform analysis or visualize future results. The ability to perform all kinds of calculations and diverse functions make it an essential tool for professionals in all areas.

What is the future of Excel?

The world is becoming increasingly digital and automated, and Excel continues to provide the necessary tools in this evolution. Integration with different programs such as the future of artificial intelligence, or the possibility of working in a shared manner, means that Excel can be taken to higher levels where decision making or analysis is increasingly easier and more robust. You can visit our page to learn about our Excel courses .