IT Training - Top 3 Uses of Excel For HRDF Registered Company

1. Business Analysis

The number 1 use of MS 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.

Business analysis is the activity of converting data into something useful to the owner business. For example, you could run a profitability report by the day of the week. If the business always loses money on a Sunday, then that’s information management could use to make a decision (such as closing on Sundays).

2. People Management

You may be surprised to learn that one of the top uses of Excel in business is to manage people.

MS Excel is a powerful way to organise information about people, whether they are employees, customers, supporters, or training attendees.

Using Excel, personal information can be stored and retrieved efficiently. A spreadsheet row or column can be used for an individual record that may include information like name, email address, employee start date, items purchased, subscription status, and last contact.

3. Managing Operations

Excel is relied on heavily to manage the day-to-day operations of many businesses.

Business activities can often involve quite complicated logistics. Inventory flows need to be controlled so that you can keep operations running smoothly – and without overstocking on particular items. That means keeping track of supplier and client transactions, listing critical dates, and managing times and schedules.

MS Excel is an important tool for many smaller businesses (or parts of larger businesses). An advantage of Excel is that it’s relatively low tech, allowing it to be used by many people and without the risk of programming bugs. 

Credit to Elmi : Excellent in Education