Microsoft Excel is the most widely used spreadsheet program today. It offers a host of features and capabilities of which many users remain unaware. It is seldom that a user without formal training fully utilize all the features of Excel. Below I give reasons for considering some Excel Training Courses and who will benefit from this.
I refer here to an Article in MarketWatch written by Jeremy Olshan. He reports that “Close to 90% of spreadsheet documents contain errors…”. Excel can be a dangerous tool to the inexperienced user. This is true in particular when you start working with big datasets.
A huge amount of users are not as proficient as they could be at Excel or use the features of Excel well. Being more efficient saves a company time and money. It also contributes to productivity, job satisfaction and a reduction in the error rate.
If employees receive training, they will be motivated to find better ways to be more efficient and productive. Excel has a huge variety of shortcuts and commands which can be used to speed up work. Yet, it is seldom that someone will use much of these shortcuts without practical learning in an Excel Course. And it is these tips and tricks that will leave someone empowered, excited and wanting to do more.
Everyday more small companies invest in Computer Training Courses. They do not have the budget to buy expensive software. And even when they do, these software packages does not justify investing in it. Because of the size of the business it needs only limited features. If someone can combine the features of Excel, Word, Outlook, and PowerPoint, he can have skills that is incredibly powerful. And it is then when a few Computer Courses empower the user to fully take advantage of Microsoft’s packages.
A user can also learn the skills of Macro Recording. Or even better, take only a basic VBA Programming Training Course. This will change the hours spent on completing a task to a large degree.
An Advanced Excel Course can teach a user how to really take advantage of formulas. Some of these formulas have little use on its own. But once we start combining these formulas, or make use of nested functions, results can become mind-blowing.
I list some examples below where you can use Excel, but the list is really endless. This is meant to just allow your imagination to go.
You can create resource schedules with Excel and use color codes. Or as it is often done in Excel, set color coding preferences with conditional formatting. This will be automatically updated as the schedules change.
Most bank statements can be exported in .csv format. Excel reads this format and thus allow users to easily do basic accounting in Excel without the need to enter all the transactions. You can keep track of deposits and expenditures. You can even create charts to compare business income and expenditures.
You can record your product sales in Excel. You can do this on a daily, weekly, monthly or quarterly basis. You can compare sales over time, spot seasonal sales, and keep track of customer loyalty.
You can keep track over time of all sales. This will allow you to forecast sales for the next year. You can also relate your business to economic up and down turns.
You can record your sales and your advertising and marketing costs. With this information you can and find the Return on Investment for each campaign. You can also do a break-even analysis and know when a campaign start showing a profit.
Sending Invoices or Customer Specific letters
You can keep track of what customers buy and when it would be a good time to follow up on sales. You can also add customers’ email addresses, telephone numbers, and so forth. Use Excel with MS Word and MS Outlook to do a mail merge. This will allow you to write a letter in Word, and automatically duplicate this letter for each customer. Each customer’s name, address and outstanding balance is inserted in the letter. Outlook will then send all these letters out with one go.
You can filter for employees in some category, say a particular job description. You can use Pivot Tables to count or summarize information about employees. You can create flowcharts which allows people in key positions to do performance evaluations.
Farmers can keep track of rainfall figures, yields, production levels and other related data. Compare price and yields on a yearly basis. Smaller farmers whose main support structure is his family members can benefit by having good Excel skills. Small farming does not imply small income. Much depends on how well he use his resources and how well he plans.
Financial Managers and Accountants
Excel has great tools and formulas for any Financial Manager or Accountant. Typical financial functions such as NPV, IRR, PV are just some of the tools used by them. Build Dash-Boards for financial reporting and use graphs to derive good conclusions.
Any student working with numbers will find Excel to be a very valuable tool. Being proficient in the use of Excel will improve your chances of landing a better job. You will have a better chance of getting hired than the average student. Any good business in almost any industry will require from employees to know Excel in at least to some degree.
90% of Companies use Microsoft Excel in their compensation process. According to PR Newswire: “the most popular tool for salary structure design (89%) is spreadsheet applications, according to a 2012 WorldatWork/Deloitte Consulting study”
It is definitely an asset to do a good Excel training course before you consider job hunting. It adds a valuable listing to your resumé and you will have a better chance against other candidates who are not familiar with Excel. Every business needs someone with analytical skills who can manage some set of records. Microsoft Excel is available almost everywhere. And you may be seen as a valuable asset who can perform tasks efficiently.
You can use Excel to calculate your Market Size Estimation and your Marketing Funnel. With this you can derive the right drivers for revenue and costs.
Every good business owner understands how important it is to keep track of inventory. This is about the products you have on-hand. This includes your current stock levels, returned items, and whether you are going to meet your customers’ needs. All this determines whether your business is earning or losing money. It is important to know that you have enough inventory to meet customer demand. On the other hand, unused inventory costs money.
Excel is a great tool to maintain student records. You can organize grades and create lesson plans. If there is a list to be made, Excel is the right tool to use.
Journalists often has to keep track of some sort of statistics, large amounts of information, and dates. If you want to keep track of topics covered and articles written, filtering can be a useful tool in this regard.
Leads and referrals
Say you want to keep track of how many leads translate into actual sales. You can use Excel to create a spreadsheet that provides summaries about failed leads, referral sources, and booking rates.
Bloggers and writers
Keep a list of blogs written and topics covered. Keep track of your days being productive and of the days that you were not. If you are doing some research and collect lists of related words, you can copy these words and paste it in Excel. You can then use Excel to remove duplicate words. Something else you can do for example, is to filter for words that starts with a particular character. You can also keep track of any guest postings or articles that have been published on third-party websites. In a novel, list your characters and specific characteristics about them. List all the events and the characters involved therein. You can now filter for a particular event and keep track of facts.
One of the most important thing an event planner needs is a good budget plan. Build a to-do list with deadlines. You can use conditional formatting to colour code dates. This will help you give priority to tasks that needs to be done first. Number and use the cells as a seating chart. Keep a list of invites and track responses. Do a mail merge and send notifications and email invitations. The list is almost endless in this case.
Sales, Services and Handymen
Calculate the price per item or volume and amounts needed. Calculate your costs, add your labor costs and profit and create invoices.
Other people that find real benefit if they improve their knowledge in Excel skills are:
- Business Intelligence Analyst
- Administrative Assistants
- Marketing Managers
- Project Managers
- Investment Banking Analyst
- Management Consultant