Microsft Excel is a very popular application that comes with Microsoft Office package. The package comes for Win and Mac platforms both. This application belongs to the spread sheet category and cater all your book keeping requirement effectively.
I’m pretty sure that Microsoft Excel is there in your computer. It has become a standard option for a personal computer. Sometimes you might have used Excel for some record keeping, calculation and sorting. But power of Microsoft Excel goes way beyond that.
Here I’m trying to point you out few of important operations that you can do with Microsoft Excel.
If-else
If-else is nothing new to any programmer. But if you are not having programming background you might have the question “What is that?” If-else is letting you to model the way to make a selection in real world.
Ex: If it’s a rainy day, you bring your rain coat with you. If it’s a sunny day, you keep it at home.
Microsoft Excel support most of the logical operations, so why not If-else. Below example show you how to apply if else in Microsoft Excel.
In here status update is automated using If-else.
=IF(Logical test, “value If true”, “value If false”)
Click here to download the example.
Average
Calculation of average is important when taking most of the decisions, especially in financial context. Excel is giving you once click solution to calculate average for any amount of data you have.
Ex:
= AVERAGE(number1, number2, …)
You can drag and select the entire set of data instead of inserting numbers one by one.
Click here to download the example.
Goal Seek
This is hardly ever used operation in Microsoft Excel among general users, but this could come in handy when you have to think back, in other word reverse engineer.
Ex: You decided to save $5000 in this year and you have a target to increase the amount by another $1000 year by year. If you continue that way in 10 years you can save total of $95, 000. But you need to save $100, 000. Then what should be the starting amount?
Here you have to apply Goal seek, a What-If analysis technique.
- Click on B12.
- Go to Data ->What-if Analysis -> Goal seek.
- If will give you below window.
- Set 100, 000 as to value and select B2 for By changing cell
- Once you click OK it will automatically re arrange the data to seek your goal which is $100, 000.
- In order to make this working accurately, you must have correctly written formula in your Excel sheet.
There is more and more about the power of Microsoft Excel. Keep in touch, there will be a series of articles.
Tags: #Microsoft