Microsoft Excel is one of the many extremely helpful computer tools that technology has given us. This spreadsheet app, developed by Microsoft and can run in different computer operating systems, is widely used in businesses, offices, and other ways of data encoding and collection.
Microsoft Excel can store millions of data in one file, and thousands of entries in one sheet. Not only does is store data, but it can also analyze and do all sorts of formulas for quicker and easier analysis.
Perfect for any office or business, here are common MS Excel formulas that can be helpful for everyday use.
SUM
The SUM formula is one of the most commonly used and quickest Excel formulas. It is basically a simple addition function that adds the numeric values of two cells or a series of cells. The SUM formula and function is perfect for templates that hold big numbers. The sum is 100% accurate and can be used as a simple calculator.
COUNT
The COUNT formula used to count the number of cells in a series that has numeric values in them. Take note: it only works on numeric values and does not count text values. The COUNT function is not addition, unlike the SUM function, but is helpful in terms of counting the number of cells with values in them especially for sheets with large data.
COUNTIF
The COUNTIF formula is perfect for counting specific words, items, numbers, and values on cells. Using the COUNTIF function and adding the specific statement that you want to count, this function will count all the cells containing what you specified. This means you can save time and effort in having to go through all the data, especially if you have a large quantity of data.
VLOOKUP
The VLOOKUP formula is one of the most helpful Excel functions when you are holding a large number of data and you are looking for specific answers or values to also a large list of data.
As the name would suggest, this formula “looks up” the data that you need from a source, using only the data available to you. This is one of the basic yet most helpful and most used Excel formulas.
IF Statements
IF statements in Excel are smart formulas that can filter out, look up, count, and identify specific data based on your statement. The IF statement is one of the most commonly used functions and formulas when you are just about to start a report. This is a formula that can easily identify data without having the need to go through a large number of data.
Pivot
The Pivot function is the second step to creating an Excel report – or at least mostly the second step after you have established your data. The Pivot function allows you to summarize the information from the data, especially when you are handling a large sum of data. Pivot functions can be played around for you to identify the specific count, percentage, and impact of a specific item or value from your data. This is the most helpful function of Excel if you are creating reports and analysis.
Conditional Formatting
Conditional Formatting function is used to identify specifics by changing the cells’ formats should it contain the value you are looking for. This function is easily changeable and you can personalize the format of the cells for easier identification.
Data Validation
The Data Validation function is helpful when you are just about to start collecting data and you have columns that should contain specific answers such as “Yes, No, NA”.
To avoid having the need to type in these terms repeatedly and to ensure that the formatting is correct (for easier Pivot in the future), Data Validation will allow you to create a drop-down menu to select these answers.
Freeze Pane / Filter
The Freeze Pane function is an Excel function that will allow you to freeze the heading of columns or rows so you can view the heading values. The filter will allow you to filter through columns the specific terms or values that you are looking for.
Charts
Charting and creating graphs is one of the most helpful functions of Excel when you are in the final stages of creating a presentation or report showing trends and values. Your charts can be created when you have values to show from the data you want to present. The Pivot and Chart function usually go hand in hand.
When you run a business or when your work involves data and analysis, knowing basic formulas for MS Excel can save you a ton of work. This is one of the most widely used apps in the corporate world and is the basis of growth, improvement, and changes in the company. The power of this simple app can make major changes from the smallest to the biggest businesses.
