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Not Just Numbers – Harnessing the Powerful Excel Features for Reporting

Spreadsheet software was initially developed as computerized simulations of paper accounting and bookkeeping tasks.  However, over time, they have evolved from being the replacement of paper-based accounting systems to  independent software

Efficient & Economic Business Intelligence With Excel Reports

Many organizations today face financial crunch to find money saving options. While cutting cost is their major look out they also do not want to compromise on basic business efficiencies.

Know about Notable Advancements in Excel Reports

Initially, Excel reports was brought to market with many disadvantages which had to be cleared in the advanced version. All the notified difficulties have been overcome in the recent Excel

Why Choose Microsoft Excel for Reporting

Microsoft Excel

Image Courtesy of digitalart/freedigitalphotos.net

Excel reports are one of the best applications in the market for dashboard reporting. These dashboards are used for quick and effective decision makings. Many people do not know the power of Microsoft Excel. This article will illustrate why excel reports are the best in class.

Flexibility and wide range of tools

Microsoft Excel reports provide the user complete flexibility in preparing and customizing reports. There are over several hundred templates to choose from. Almost all kinds of charts and graphs are present. Apart from this, excel offers more features like Filtering, Sorting etc. for easy access. It is also easier to edit reports in excel. We can easily replace charts, change colors and fonts. Added to this you can also add formulas in excel. These formulas compute data on their own and reduce our burden considerably.

Expect quality in everything you do

We discussed quantity now let’s talk quality. Excel reports generate some of the top quality reports in the world. In fact the reports are of magazine quality. These reports are generated in a ready-to-print and ready-to-go quality. You do not have to use extra enhancers or edit the report to get a posh look, thus eliminating the need to photo shop them.

Bring in automation to your reports

This is by far the best feature in Microsoft Excel reports. Excel reports have many tools such as Macros that assist us in automating them. With these we can create interactive spreadsheets to simplify our work. In order to automate reports we have to first create an interactive spreadsheet. Next we have to automate the report generation by making some customizations.

Error Finding

Most of the reporting tools do not have an inbuilt technology to find errors in their data. This might turn out to be disastrous without human intervention. Thanks to excel reports we do not have to worry about this anymore.

Microsoft Excel enables the users to scan and look for errors without much effort. We can test the data for errors through formulas, search for missing data and so on.

 

Pivot Tables – backbone for Excel reports

Pivot tables help us in creating tables and then create a report from it instantly. We can do a lot of reporting and analysis from pivot tables right from slicing and dicing to deducing summary from total.

It is these specialties that make Excel reports excel everywhere!

 

Microsoft Excel for Swift Effective Decision Making

Image Courtesy of Pong/freedigitalphotos.net

Image Courtesy of Pong/freedigitalphotos.net

Microsoft Excel reports provide the user complete flexibility in preparing and customizing reports. There are over several hundred templates to choose from. Almost all kinds of charts and graphs are present. Apart from this, excel offers more features like Filtering, Sorting etc. for easy access. It is also easier to edit reports in excel. We can easily replace charts, change colors and fonts. Added to this you can also add formulas in excel. These formulas compute data on their own and reduce our burden considerably.

Excel reports have many tools such as Macros that assist us in automating them. With these we can create interactive spreadsheets to simplify our work. In order to automate reports we have to first create an interactive spreadsheet. Next we have to automate the report generation by making few customizations.

Most of the reporting tools do not have an inbuilt technology to find errors in their data. This might turn out to be disastrous without human intervention. Thanks to excel reports we do not have to worry about this anymore. So its obvious, excel reports are one of the best applications in the market for dashboard reporting. These dashboards are used for quick and effective decision makings.

Microsoft Excel enables the users to scan and look for errors without much effort. We can test the data for errors through formulas, search for missing data and so on.

 Pivot tables help us in creating tables and then create a report from it instantly. We can do a lot of reporting and analysis from pivot tables right from slicing and dicing to deducing summary from total.

Excel reports generate some of the top quality reports in the world. In fact the reports are of magazine quality. These reports are generated in a ready-to-print and ready-to-go quality. You do not have to use extra enhancers or edit the report to get a posh look, thus eliminating the need to Photoshop them.

 

 

Hidden facts to know about Reporting Dashboard

Reporting Dashboard

Image Courtesy of jscreationzs/freedigitalphotos.net

It’s a well-established fact that Excel Reporting dashboard is very familiar for its functionality. Many deemed organizations and multinational companies are highly dependent on Excel Reports and started using them due to their good reputation and abundant functionality. There are hundreds of templates to choose from and thousands of customizations available. While they offer many advantages to users, they also have a number of disadvantages the one should be aware of. Let us throw some light on such hidden facts about Excel Reports here.

Excel does not work in all systems

Excel or the spreadsheet software is not compatible with all systems. There are only a limited number of operating systems that support them such as the Microsoft Windows OS and the MAC OS. If you are a user of other operating systems like UNIX, LINUX etc., then it is better to start looking for other report generation software. Even with these operating systems, the cost of purchasing Excel software is pretty high.

Space constraint

Here are the facts – excel reporting dashboard is limited to several thousand rows and several hundred columns. Each cell in the spreadsheet is limited to a specific number of characters. As our organization grows, the data used also grows. We can add data to existing reports only till we reach the row/column/cell limit. Once we hit the saturation limit, the report becomes incapable of accepting any more data. In short, excel reports are not suited for continuous business.

No Audit Trail

Of all the limitations specified here, this is the most dangerous one. We cannot maintain a record of the transactions made in spreadsheets. So in cases where a single report is accessed by multiple persons, it is very difficult or almost impossible to find who made the changes and at what time.

A big NO for Statistical Analysis and non-scalability

It’s easy to create formulas and link worksheets and spreadsheets together however as the work more complex, spreadsheets become more gets challenging to maintain. Excel reporting dashboard is ideal for one time analysis only and become tricky as the data grows and advances over time. Formulas may need to be modified or new ones created. If data and formulas aren’t consistently updated, they lead to bad results and decisions.

In sum, it is difficult to maintain spreadsheet accurately over time.