Excel and Large Businesses
People often associate the use of Excel with small and medium sized businesses, because they see it as a ‘cheap’ version if you can’t afford software, but that is not the case. Yes it is an affordable alternative to custom business software (if you know how to use it properly) but it is most definitely not limited to smaller companies. So if large businesses have their own custom made software, why do they need Excel?
Data. Data is key in today’s business world, and we all have it in abundance. The problem we have is to understand this data, and that is where we can harness the power of Excel to help us make the right decision. Just about every online account, utility, social media, software program and website is monitored. Reports are then generated, and often can be exported as a CSV file. Data. We have loads of it, but do we understand what it means? If we don’t understand what it means, how do we know what changes need to be made to improve?
Do you know what your data is telling you? Do you have a clear analysis which you can base your decisions on?
All business owners need to understand their data, especially the larger business owners, but we all need to analyse our data. We smaller business owners may not stand to save as much as the larger ones do, but we can all do with understanding our data, in order to make the correct decisions going forward. These kind of dashboards are really popular, because they make sense of very valuable, but otherwise ‘useless’ data.
Given how important it is to understand your data, this is where Excel is so valuable. I love to get the opportunity to create custom Excel spreadsheets, which can accurately read your data, and display it in a way that you can easily understand what the data means. This way you can be in the best position to make the correct decision for your business. So whether you want to do it yourself, or if you commission a consultant to do it for you, let me create you a tool to better understand your data.
Take a look at the video below to inspire you.