data
Week 9 peer review
12 hours ago
week 9 Discussion
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Reasons that make Excel the most popular spreadsheet software
VBA programming, much faster recalculation and combination of Windows compatibility make MS Excel be the best spreadsheet package (Blayney & Sun., 2019). Many people widely use MS Excel since it helps save time. Most importantly, the package is upgraded yearly with new features making it easy to be used anywhere for all kinds of work. Therefore, these additional features that keep on being upgraded make it able to perform with industry dynamics (Blayney et al., 2019). Again, such features offered by Excel are unique and vital as competitors do not provide them. Besides, MS Excel has dominated most challenging products as it allows for restricted development resources for products with fewer substantial market shares. MS Excel is beyond the range of decision support system book, making it more widespread. The Excel spreadsheet program can attain the most outstanding market shares based on inactivity and size factors. Lastly, MS Excel is helped to sustain its position by the infrastructure which constructs the bundling like books and add-ins.
MS Excel is used for complex calculations, analysis, business tasks, data management, finance, inventory, billing and other organizational tasks. Besides, this package can be used to do mathematical calculations and store vital data in the form of spreadsheets or charts (Blayney et al., 2019). These aspects make this package more attractive for modelling. In terms of analyzing and storing data, one can use Excel to analyze vast amounts of data to discover trends. In this case, it allows data storage in the form of charts and graphs, which make it easy to retrieve the data when required (Blayney et al., 2019). MS Excel has mathematical formulas that enhance solving of complex mathematical problems by implementing numerous operations like finding the average, and sum based on vast amounts of data. Lastly, MS Excel helps users in adding more sophistication to data presentations. These sophistications help users to improve the data bars, allow them to highlight items and make their data more presentable.
Reference
Blayney, P. J., & Sun, Z. (2019). Using excel and excel VBA for preliminary analysis in significant data research. In Managerial Perspectives on Intelligent Big Data Analytics (pp. 110-136). IGI Global.
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1 day ago
Discussion 9
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The development of innovative software has been significant in the last decade. The software is designed to analyze and visualize data. Despite the capabilities of new big data software in the market, Microsoft Excel has always been the first option for most people seeking to create insights out of data. Excel has always stood out among Microsoft products, and it is gaining popularity each day (Okeniyi et al., 2020). One thing that makes Excel unique and increases its popularity is that it allows users to automate all processes.
Additionally, Microsoft Excel can serve several functions in business. For instance, Excel is used for business analysis. Business analysis involves the use of data collected to make informed decisions. Organizations collect data from various sources in their daily activities. Some sources of data in business include product sales and data from website traffic. Business analysis ensures the data is converted into useful insights (Okeniyi et al., 2020).
Excel is also used to manage day-to-day operations in a business. Although big enterprises like Amazon use advanced software to manage their operations, Excel is popular among small businesses as they use it to ensure everything runs smoothly. For instance, businesses use Excel to manage their inventory flows. Some big companies also incorporate Excel to other sophisticated software to ensure all items are stocked as required (Devlin & Schillig, 2017). Therefore, with Excel, companies can efficiently keep track of supplier and customer transactions.
Excel is also a vital tool in facilitating performance reporting. Performance reporting is a type of business analysis that requires expertise. The analysis can be done effectively using Microsoft Excel. Additionally, Excel is popular among accountants who perform monitoring and reporting use Excel because the tool is compatible with cloud-based accounting software. Therefore, Excel's capabilities make it a preferred option by many; however, the tool can give misleading results if not used well when automating processes (Devlin & Schillig, 2017).
References
Devlin, J. F., & Schillig, P. C. (2017). HydrogeoEstimatorXL: an Excel-based tool for estimating hydraulic gradient magnitude and direction. Hydrogeology Journal, 25(3), 867-875.
Okeniyi, J. O., Okeniyi, E. T., & Atayero, A. A. (2020). Implementation of data normality testing as a Microsoft Excel® library function by Kolmogorov–Smirnov goodness-of-fit statistics. Proceedings of the Vision, 5261-2578.
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