11 Excel Analysis Tools – Everyone Must Learn
In this tutorial we will discuss some powerful features of Excel that will make your work life easier in day to day analysis activities. Everybody must learn these analysis skills. It doesn’t matter whether you are a civil engineer or a software engineer / data analyst / general manager, these Excel tips are really helpful.
You can sort your Excel data on one column or multiple columns. You can sort data by text (A to Z or Z to A), numbers (smallest to largest or largest to smallest) in one or more columns. You can also sort by a custom list (such as Large, Medium, and Small) or by format. Most sort operations are column sorts, but you can also sort by rows.
2) Filter & Advance Filter
Filter is a quick and easy way to find and work with a subset of data in a range of cells or table column. You can Filter your Excel data if you only want to display records that meet certain criteria.
3) Text to Columns
You can use “Text to Columns” Wizard to separate simple cell content, such as first names and last names, into different columns.
4) Data Validations
Data Validations wizard is used to restrict data entry to a certain range of dates, limit choices by using a list, or make sure that only positive whole numbers are entered. It provides immediate help to instruct users and clear messages when invalid data is entered is also essential to make the data entry experience go smoothly.
5) Conditional Formatting
Conditional formatting in Excel enables you to highlight cells with a certain color, depending on the cell’s value.
Excel supports numerous types of charts to help you display data in ways that are meaningful to your audience. When you want to create a chart or change an existing chart, you can choose from a wide range of chart subtypes available for each of the following chart types.
7) Pivot Tables
Pivot tables are one of the most powerful features of Excel. A pivot table allows you to extract the significance from a large, detailed data set.
Tables allow you to analyze your data in Excel quickly and easily.
Excel includes a tool called solver that uses techniques from the operations research to find optimal solutions for all kind of decision problems.
10) What-If Analysis
What-If Analysis in Excel allows you to try out different values (scenarios) for formulas. You can use scenarios to forecast the outcome of a worksheet model. You can create and save different groups of values on a worksheet and then switch to any of these new scenarios to view different results.
11) Analysis ToolPak
The Analysis ToolPak is an Excel add-in program that provides data analysis tools for financial, statistical and engineering data analysis.
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