If you are a data expert and you use Excel repeatedly, here are five functions of Excel that every data analyst must know:
Pivot tables are the most effective way of summarizing and analyzing data. To be a data analyst, you must be good to go with pivot tables. Pivot makes the function of analyzing data easier and is time-saving. Just drag and drop fields to columns rows and make calculations accordingly. Pivot tables can be inserted using the shortcut ALT+N+V+C.
Conditional formatting applies conditions to the data and highlights the results satisfying a particular condition. You can use it for various purposes, like highlighting cells with numbers above/below a particular bar, cells containing specific text or duplicates, and many other rules that you can set to apply conditional formatting. The shortcut key to conditional formatting is ALT+H+L.
Working on data can be challenging, especially when you have huge data sets and want to remove duplicates. What can be an ideal solution? Are you looking at the figures and removing them one by one? No, this can not be used when the data is huge. For removing duplicates from data, we have a shortcut key in Excel. Select the column to delete the duplicates, and go to DATA ribbon > data tools > delete duplicates. All you are left with is unique values.
Vlookup function is one of the most important and famous functions of Excel. It is used to look up values vertically, i.e., from the columns. The syntax for the Vlookup formula is,=Vlookup((lookup_value,table_arrray,col_index_num,[range_lookup])
It is often used to fetch data from different sheets and files.
Although there are plenty of shortcuts that can be used in Excel, a few shortcut functions that every data analyst must know include:
§ Proper function- is used to uppercase every word in the text
§ Lower function - is used to lowercase every word in the text
§ Upper function - is used to uppercase all text
§ Trim function - is used to remove odd spaces from the text
For a Data Analyst, it is essential to be proficient in Excel skills. Try using these five functions in your data functioning, and let us know in the comment section which is your favorite function in Excel.
]]>Here are 5 ways to use the concatenate function in excel:
Concatenate is used if only the content of the cells is to be combined. In short, it is the process of joining values that reside in different cells.
Syntax for Concatenate: =CONCATENATE(text1,text2,….textN)
Let us suppose text 1 is Jim and text 2 is Jam. The concatenate function to combine them will be =Concatenate(“Jim”,”Jam”), and the output will be JimJam. CH
You must note that every text needs to be placed within the quotation mark, i.e., “ “ , if you wish to put space between two texts, then the quotation mark is given a blank space. This blank space can be replaced by any other sign, like a comma, a hyphen, or even an alphabet (as required).
For example, to separate JimJam with a hyphen, the function will be =Concatenate(“Jim”,”-”,”Jam”), and the output will be Jim-Jam.
A quotation mark is not used when a cell reference or a formula is mentioned.
Line breaks become essential when a lot of data is to be entered into a single sentence. To add line breaks in concatenate function, use the code CHAR(10). Then, putting the code in the concatenate function will automatically place line breaks.
For example, to insert line breaks in JimJam, the function will be =Concatenate(“Jim”,Char(10),”Jam”), and the output will be Jim Jam in a single cell but each in a separate line.
Char(10) is a code; thus, we do not use quotation marks.
While concatenating an entire column is a 2 step process,
Firstly, Place the formula for concatenation in one cell.
Suppose you want to combine the texts in Column A & Column B in Column C, so the function for row 1 of column C will be =CONCATENATE(A1,” “,B1).
The next step involves dragging down the formula to the entire column, and you are done with concatenating two different columns.
A range of cells can not be concatenated using an array of cells. It requires different cell references for each value.
Different cell references can be concatenated by manually writing the cell reference or by pressing CTRL and selecting the cell reference.
Concatenate in Excel is one of the most valuable and essential functions in data cleaning. It is often used to generate unique Identification pins and codes. It can be applied through various methods, as discussed above. Tell us in the comment section which function worked for you the most.
]]>Administrative assistants, also known as office clerks, are responsible for running office functions smoothly. Their routine tasks include preparing reports, organizing documents, managing records, and providing customer and staff support.
MS Excel & MS Word are the requisites for any administrative assistant. The median salary of secretaries and administrative assistants is $ 38,880 per annum.
Business managers are the professionals appointed to help the organization make well-informed decisions related to the business considering the market trends, profitability ratios, competitive analysis, and many other factors. Their key responsibilities include analyzing past and present data and making inferences about the same. The median salary of a business manager is $63,120 per annum.
Accountants and auditors ensure the accuracy of financial statements and documents. They are also responsible for filing financial information and submitting tax returns. Excel skills and financial knowledge will make the role suitable for prestigious positions in an organization. The median annual salary of an accountant is $68,150.
Cost estimators are the ones who estimate the value of money. They often work with engineers and project managers to ensure accurate estimates of time, money, and labor required for a specific project. A cost estimator is expected to earn a median salary of about $64,640 per annum.
Financial analysts play a crucial role in planning and making informed decisions about loans and investments for companies and individuals. Proficiency in Excel for a financial analyst is a must. Financial analysts tend to get a median salary of $ 63,040 per annum.
Almost all jobs now require proficiency in Excel, and some high-paying positions can be achieved with advanced skills and knowledge in Excel. Excel is the best-known spreadsheet program with infinite formulas, functions, and tricks to perform tasks. If you are learning Excel or already a master in Excel skills, look out for career opportunities available for you; also, look forward to what other skills in Excel could improve your resume; it can be worth it!
]]>There are many charts available in Excel that make it easier to understand the data; here are the top five charts in Excel:
A line chart depicts a pattern, often known as a trend chart—usually ups and downs.
It depicts trends like uptrends, downtrends, long-term trends, and so on. These are often used to track sales, revenues, profits, stock price movements, etc. Based on these trend analysis charts, companies often make forecasts.
A Pareto chart has been derived from a well-known management principle known as the 80/20 rule or Pareto principle. Such graphs identify which 20% of the factors contribute to 80% of the results. For example, suppose you are a factory manager; this is the perfect chart you can use. Therefore, you can create a Pareto chart to know the 20% of the issues leading to 80% of the defects.
Gantt charts have pretty a popularity among project managers. It is one of the most appropriate techniques to keep track of tasks and time. Gantt charts help in the management of activities in a day-wise schedule. It helps visualize what tasks must be performed, how many days each task needs to be completed, which tasks must be performed simultaneously, and so on.
For a sales team, the work is often divided into stages, like, stage one, two, and so on. The sales funnel shows values across multiple stages. The value usually reduces with each successive stage in the funnel. An example of stages in the sales funnel leads> calls> follow up> conversion> sales. For each firm, the funnel varies as per their requirements.
A scatter plot or a scatter chart is used in Excel for statistical analysis. It is plotted to analyze the relationship between two variables. It analyses whether the variables are positively correlated, negatively correlated, or unrelated.
While analyzing data is easy, making data presentable in a form understandable at just a glance can be challenging. Therefore, we use charts to express the conclusions via a pictorial presentation. Try using these 5 charts to make your reports more interesting.
]]>Here are five benefits of using named ranges in Excel:
Naming ranges make it easier to remember. Even if you ask a layman what is easier to remember a name or numerical code, they would answer with a name. Therefore, naming makes remembering the cells easier and using them in formulas.
If you wish to scroll down to cell AN2000, type the cell reference in the search name box. Similarly, if you want to search the July profits, all you need to do is, select the earnings for July, define the name, and for any further use, instead of using the cell references, you can use the specified name.
Once you provide names to the ranges, you need not remember the cells to which you want to put a formula. For example, suppose that you have sales for each day of August in cells A20:A51. To find the total sales of August, the function will be =Sum(A20:A51); however, remembering this range can be tricky if many months need to be calculated. In such a case, you can define each month's sales ranges and use the named ranges to calculate the sum.
Naming ranges makes it easier to understand the formulas and functions. Let us suppose you have two columns, Tax Column and Income Column. If we want to calculate income - taxes, the formula will be =D40-C40, where D40 is income and C40 is tax. A new user of the sheet would have to scroll back to the cell references to find out what has been subtracted. Instead, if we name the cells, the formula will be =Income-Tax. Making it easier to understand for you as well as any other user.
A named range is dynamic. Even if you move the specified range of cells to any other cell location, it will be identified as it has been provided a name. For example, suppose you are a VBA developer, and you are preparing codes with reference to cell A1; if A1 gets shifted, the code will not run; however, if a name is provided to the cell and instead of a cell reference, the name is used, this would run the code despite it being present in the original cell or not.
What is easier to remember, a friend with a name or a friend with an alphanumeric character? Of course, you would answer by name. So is the case while using Excel. Defining names to ranges in Excel makes understanding and applying formulas and functions easier.
]]>Here are 5 tips for choosing the right chart for your data to get the best results.
The comparison or relationship charts are used when we have more than one variable to be depicted. For example, Age of 10 different people. The charts in excel that can be used are Bar charts, histograms, etc. These are mostly used to make comparisons. It is mandatory in such charts that you wisely choose the data to be depicted on X-axis and Y-axis.
Relationship charts are drawn to find a relationship between 2 or 3 variables. It is often used to find how related the variables are; in statistical language, relationship graphs are used to find the correlation between two or more variables. For such purposes, we use scatter charts or scatter plots. The position of the points in the scatter plot depicts the relationship between the variables, it could be positive, negative or no relationship.
Trend charts are used to depict a pattern. Usually, ups and downs.It depicts trends like uptrends, downtrends, long-term trends, and so on. These are often used to track sales, revenues, profits, stock price movements and so on. Based on these trend analysis charts, companies often make forecasts. To depict the trends we use line charts in excel.
A composition chart is used to depict what a whole is composed of. For example, what makes a full cake, say, 20% of flour, 10% of chocolates, and so on. The composition charts include pie charts, donut charts, and so on.
Flow charts are used to describe a set of activities to be performed in a specific manner. It is also used to categorize things. These are often called decision trees. The type of flow chart depends on the information that you need to fill in.
While making charts is easy, making the right chart is imperative. A wrong choice of the chart can lead to false conclusions. Thus, choosing the best fit chart is essential. Try using the 5 tips to select the best chart for your data and let us know in the comments section if this article helped you.
]]>Here are 5 tips for choosing the right chart for your data to get the best results.
The comparison or relationship charts are used when we have more than one variable to be depicted. For example, Age of 10 different people. The charts in excel that can be used are Bar charts, histograms, etc. These are mostly used to make comparisons. It is mandatory in such charts that you wisely choose the data to be depicted on X-axis and Y-axis.
Relationship charts are drawn to find a relationship between 2 or 3 variables. It is often used to find how related the variables are; in statistical language, relationship graphs are used to find the correlation between two or more variables. For such purposes, we use scatter charts or scatter plots. The position of the points in the scatter plot depicts the relationship between the variables, it could be positive, negative or no relationship.
Trend charts are used to depict a pattern. Usually, ups and downs.It depicts trends like uptrends, downtrends, long-term trends, and so on. These are often used to track sales, revenues, profits, stock price movements and so on. Based on these trend analysis charts, companies often make forecasts. To depict the trends we use line charts in excel.
A composition chart is used to depict what a whole is composed of. For example, what makes a full cake, say, 20% of flour, 10% of chocolates, and so on. The composition charts include pie charts, donut charts, and so on.
Flow charts are used to describe a set of activities to be performed in a specific manner. It is also used to categorize things. These are often called decision trees. The type of flow chart depends on the information that you need to fill in.
While making charts is easy, making the right chart is imperative. A wrong choice of the chart can lead to false conclusions. Thus, choosing the best fit chart is essential. Try using the 5 tips to select the best chart for your data and let us know in the comments section if this article helped you.
]]>A drop-down list in Excel can be created using data validation. Let us have a more in-depth look into how to create it in an excel spreadsheet.
It helps in the organization of data systematically. It frees up space and improves the content layout and design, providing a professional look.
If you want to become an ,Excel Pro, then this guide is the must
The list in excel is a graphical element of control. It is like a list box that allows users to choose one value from a given list. Let's start the steps on how to create a drop-down list in Excel
Before creating a it in excel, you should be aware of items to be included in that list.
Assume you are a supplier of fruits and vegetables. There is a limited range of items that you supply regularly. In this example, we look from customers' perspectives and how they get to select from the available options. Here is the step-by-step guide to building a drop-down list in excel.
Create item-wise lists under a said category (here, fruits and vegetables, respectively).
In the above example, we see how purchasing became easier wherein the customers had to choose from a given list. Similarly, while recording data, few data points remain obvious among a given set of variables.
Important tips:
A drop-down list, also called a pull over menu, drop menu, pull-down list, or a picklist, is usually used when a predetermined set of items or data set needs to be put in place.
For example, let us suppose you are booking a flight ticket and while selecting a country in Asia, you have limited options. Therefore, one country needs to be chosen among a few countries, and this is where a such list is used. Similarly, while shopping for clothes according to seasons, a pull-down list can be used to decide before purchasing as there is a pre-defined number of seasons. Look out for someone who can help you with ,Excel online help :)
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