Excel has a variety of tools that can be used in a quick way for analyzing the information. One of the most crucial one is Excel formula, other tools consists
Every business is bound to produce monthly reports periodically on a regular basis. Generating reports manually and presenting with pixel perfect representation is no more a tedious task. To make this happen in fraction of seconds and to avoid proximity errors, MS Excel Reporting is developed with more momentous features. The boundary of fields started widening from financial and strategic management to forecasting reports. Get to know how Excel Reporting promotes your business regardless of the huge size of data presented from multiple data sources.
Data consolidation is tremendously a straightforward process in Excel. This means that you can assimilate related data that are stored in different worksheets into a single Excel report with easy references. It eliminates the daunting process of copying the whole data into a single sheet for calculation and while doing this, it also eliminates the chances of errors. Getting desired results in Excel monthly reports is very easy.
Now the one thing you will have to do is to design a script and frame the query appropriately to extract the necessary data from different forms of data sources. All data has to be represented in different tabs with appropriate formatting done. One significant feature of higher versions of Excel Reporting Tool is the Excel driven slicers which will keep track of months’ names. This in turn will allow the users to pick the month they are in need of to represent the data. This reduces the time and effort required to code them or drive them manually.
Excel monthly reports can equally be beneficial for small as well as big organizations as it is very scalable in terms of its performance and accuracy. Excel is also open to program small software or to render support for the third party tools for the purposes of advance options and multiprogramming.
Isn’t it a great idea when the reports interact more with the users rather than being more monotonic? Always provide Excel drop-down lists to let the users take decisions and apply conditions to generate interactive reports and also filter the data present in the Excel Dashboard. This will help business stakeholders to arrive at a better decision in case of financial budgeting.
Let us say that you are creating a new chart diagram with the available data in data source and you start including more labels to provide explanation on each and every column of the data in diagram and grid lines to fill in it. Do you think the reader will be pleased with this approach? Certainly not!It is better to leave the data to speak for itself, which will allow the reader to dig into the report further more to get a clear understanding on the analysis.
When you choose pie charts to display simple and very less amount of data, it is not a wise idea. Instead you can make use of the bar charts to display one set of data. The pie charts is mostly preferred only when there are more than two sets of data from different data sources or from the same data source.
There is a new craze for Excel interactive Reports which are well known for its special features of providing a feast of visual display of all data available from the data source. Though it has been identified as the standard for reporting, special training is required to use these reporting tools. The significant usage of these reports display crucial information more catchy and handy.
Recent trends have evolved around displaying all the crucial information in 3D format of charts. It is important to note that these effects should not be used while applying different colors to the charts or pictures. It will spoil the pleasant look of the report and also will not make your Excel dashboard more professional.
Enough has been said about excel reports and their various utilities and functions. Smart people do not want to know the long route, instead they ask for quicker routes with more benefits. If you are such a person, then this article you should be reading. Here we are going to discuss some tips about getting the most out of excel spreadsheet reports.
Keep it simple silly
Not always do we need the entire 256 columns and 65000 rows in an excel sheet. Then why keep the remaining empty cells? It’s a good programming practice to delete or hide the cells we do not need. This gives your report a neater look and it is well organized.
Freeze the Header row
We know the protocol that in an excel sheet the first row is dedicated to display the heading or the Header Row, to say it in simple terms. When working with large data, it is inevitable that we have to scroll down. When doing so, the header row becomes invisible leaving the user in a state of unrest. Simple solution- Freeze the header row. This way when you scroll down, the header row continues to occupy the first row thereby letting the user know what he is reading. This is a very handy thing to know.
Always secure your workspace
Always keep your data confidential. Excel spreadsheet reports offer the user complete control over the security of the reports. Meaning, you can lock the entire spreadsheet with a password or you can lock a single cell, row and column. This feature proves to be very useful when you are dealing with reports that contain sensitive information.
Include Tool Tips and Comments
Do you like funny memes with a little cloud next to them explaining the joke? Quite sophisticated isn’t it? You can do the same with excel reports. Whenever you use a complicated term or jargon, add a cell comment with the explanation. So when the user hovers over the specific cell, this explanation pops up. Its gets hidden automatically after few seconds. Very neat, wouldn’t you agree?
Achieve Data Validations
Similar to most product developing platforms, excel offers you the ability to validate data and shows an error message in case of any violation. Now that’s what we are talking about.