Microsoft Excel is one of the most commonly used data analytics tools used today. It is also known as the de facto standard for spreadsheets for anyone serious about data science.
Excel is the most popular tool for data analytics because it is very user-friendly, versatile, and available on Windows, Mac, and Chromebooks. Having said all that, it is extremely important to remember that Excel is still relevant to some companies for a variety of reasons.
Let’s explore the top 6 reasons to choose MS Excel for data analytics. We will especially consider the factors such as cost, availability and user interface.
Familiar UI
First and foremost, Excel is very easy to use. It is quick to learn and get started with. Excel is also very versatile. Because it has been used for years and years, there is a lot of information out there about how to do certain things. This makes it very easy for even an entry-level data scientist to get up and running quickly. This is a great way to kick off the data science process for you!
There is a generation of the workforce to whom, using Microsoft’s productivity software is like second nature. Microsoft Office comes installed in every computer sold at a fraction of the cost of any other tool for data analytics. That implies that every person can easily be trained for analytics projects on Microsoft Office Excel. Seriously, many of us have been learning and using MS Excel since our childhood.
Scripting
Most people don’t realise that they can script and automate a lot of MS Office tasks, just like other scripting languages/tools. VBA for Microsoft Office is a sought-after skill because it allows the user to be creative with the kind of applications they want to create for the automation of such tasks. Using this aspect of MS Excel, end users can become very creative by working with data sets by connecting to databases like the MS SQL Server. No other allows for this level of automation capabilities.
Costs Cheaper than Other Data Analytics Tools
Data analytics can cost a lot, depending on the nature of the projects. Many factors will determine your spending. One of the most important things to consider is the size of your data. Many factors go into your costs, such as the number of servers, the amount of processing power needed to handle your data, and, of course, the cost of hardware and the associated maintenance.
You can save money using free MS Excel to create reports if you already have a good budget. It may not be as sophisticated as a professional tool, but it will get you good results that are within your budget.
Excel is Versatile
Choosing MS Excel for data analytics is a good choice because Excel is versatile. It is often used for a wide range of applications. This means you can get started quickly, but it is also an ideal tool for the more complex tasks you may face in data analysis.
Some of the different fields in which Excel can be used include:
- Business Analytics
- Data visualisation
- Regression analysis
- Descriptive data analysis
- Quantitative data analysis
- Statistical analysis
- Data mining
- Hadoop-specific analysis
It has even been used for the creation of custom databases in Oracle. This is also one of the few pieces of software that has a very large ecosystem of add-ins and extensions. In the long run, this versatility will be a very big advantage to you.
Excel offers a vast library of functions for data cleaning, manipulation, calculations, and statistical analysis. This allows you to perform various tasks without needing to code or rely on additional tools.
Also Read: How to Fix the ##### Hashtag Error in MS Excel?
MS Excel is Easily Available
Microsoft Excel is widely available as part of the Microsoft Office Suite and also through various subscription plans like Microsoft 365. It’s accessible on multiple devices, including PCs, Macs, tablets, and smartphones, ensuring users can work on their spreadsheets across different platforms. Further, Microsoft offers online versions of Excel through its Office for the Web service, providing even more accessibility to users with an internet connection.
Easy to Use
Data analytics requires some expertise to create the necessary reports. You need to understand the various mathematical functions and formulas to make sense of your data. Most data analyst tools have tutorials that help you learn all the functions you need. However, it’s easier to learn all these functions using MS Excel. You can use existing examples of how they are created and use them to create your report. You won’t be able to create as elegant and sophisticated reports as you can with professional tools, but your data is already formatted to suit the type of reports you need. All you need is a bit of practice to combine all your data to create the complex reports you need.
