Top Uses of Microsoft Excel in Business

6.2 min read|Last Updated: March 5th, 2024|Categories: excel|
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Excels’ potential is well-known in the business world. In fact, Excel has grown to become arguably the most prominent, all-purpose tool available.

The spreadsheet program has been developed to store, analyze, organize, report, and visualize data. Excel is a software program that can perform both simple and complex business tasks. No wonder it’s described as the staple of business.

The present-day Excel can be conjoined with other Microsoft Office applications such as Word, Outlook, PowerPoint, and other platforms, providing powerful combinations and limitless possibilities. With its simple interface, Excel is not only of use across different industries but also in different departments within your business.

Let’s go through six major uses of Excel in business, outlined below. Note that there is no particular order to this. 

infographic showing the top uses of MS Excel in business
An infographic showing the top uses of MS Excel in business

Business Analysis

Excel is central to business analysis and planning.

The collected data, formulas and computations on the spreadsheet can guide actions, decision-making and help find solutions to complex problems.

Businesses use Excel to translate the collected data into insights and key takeaways. The past business performance or customer data is manipulated to make a specific decision and compare trends. The data can also include website traffic, spending on supplies, product sales, expense tracking, insurance claims, etc.

In other words, professional business analysts turn data into useful reports to inform their decision-making process. These decisions may include investment strategies such as asset allocation, financing, or setting budgets.

For example, a profitability report could show where the business is losing money. Also, different statistical trends can be analyzed and compared to forecast, plan and make key decisions.

Excel has extensive analytical capabilities and good reporting functionalities, which can help business analysts to extract valuable information from the database.

Operation Management

Excel has an essential role in managing manufacturing or service operations.

Business operati