Spreadsheets are a fantastic software tool for business owners and managers. After entering data, your spreadsheet program can help you to sort and manage it, enabling you to analyse it and present it in the way you wish. Unlike so many software packages, you don’t need to have a great deal of technical expertise, so the platform is highly accessible.
Let’s look at four great advantages of using spreadsheets for storing your company data.
Displaying and editing spreadsheet data
- Data can be displayed graphicallySpreadsheets let you display your data graphically, making it much easier to visualise. The Excel platform, for example, has a dedicated charts section that enables users to present their information as a graph or chart.
According to Chron, it is this ability to present data in a meaningful and understandable way that enables informed decision to be made about business plans for the future.
2. Data can be edited
Spreadsheets store data items within separate cells, each of which can contain a formula for manipulating it in some way. This means that you can update a value in one cell and the spreadsheet will update other cells, which can save a great deal of time and trouble when it comes to performing complex calculations.
You can easily import and export data to and from other formats; for example, you can convert PDF to Excel files with the help of dedicated software from resources such as https://pdftables.com/convert-pdf-to-excel.
Formulas and built-in functions
- Formulas help with calculationsAny cell in a spreadsheet can contain a mathematical formula that can be tailored to the user’s precise needs. This enables complex calculations to take place in the blink of an eye, saving endless time and trouble for employees; in fact, it is this ability to make use of formulas that offers the biggest benefit to the majority of users. By altering data in just a few cells, it is possible to analyse future outcomes without risk.
4. Spreadsheets come with pre-set functions
Calculating new formulas and entering them all manually could be a lengthy and time-consuming process; however, thanks to a broad range of pre-set functions, many of the most popular formulas are already included in the software package. This enables users to sort and filter data and to perform calculations such as percentages with a single click of the mouse.
Plotting a function as a scatter chart
Charts are not limited to simple bars and pies. If you need to draw the graph of a mathematical function, use a scatter chart, which is the only chart type that plots two sets of numeric values against each other rather than categories along the bottom.
Start with a column of x values, for example from -5 to 5, and name the column so the program recognises it. In the next column enter the formula, such as a linear equation in the form y = mx + b, then copy it down to give a y value for every x. Highlight both columns, insert a scatter chart and choose a subtype.
The chart appears straight away. You can then use the chart tools to adjust the design, layout and formatting, and click individual elements such as the title, axes, legend or data labels to edit them. Save the workbook so that both the data and the graph are kept together, ready to update if the values change.
Summary
This article sets out four advantages of using spreadsheets to store business data. It covers displaying data graphically through charts to support informed decisions, editing linked cell values so formulas update automatically, and importing or exporting data between formats such as PDF and Excel. It also highlights how formulas and a broad range of pre-set functions speed up calculations, sorting and filtering.
Questions this article raises
- How steep is the learning curve for writing more advanced spreadsheet formulas?
- Which pre-set functions save the most time for a typical small business?
- How reliable is converting a PDF to Excel using dedicated conversion software?
