MS Excel Skill - Exceeds the Value of MBA!!!

Posted by: Dilip D | Business Analyitics

MS Excel Skill - Exceeds the Value of MBA!!!

Most companies are looking for people with expertise in MS Excel. MS Excel is the best tool in finance but also used in marketing, sales, human resources, production, operations etc. It won’t be exaggeration to say that in reality MS Excel is a life-partner for a management professional. There are students who complete their MBA without proper understanding of MS Excel, but they have to learn it sooner than later since it is integral part of a managers’ daily life.

Microsoft Excel is one of the greatest and most powerful software applications of all time. It provides enormous capacity to perform quantitative analysis - statistical analyses of databases with thousands of records to create insights with user-friendly front ends. Unlike traditional statistical programs, it provides an intuitive interface that lets you see what happens to the data as you manipulate them.

The MBA Graduates must learn the following skills in MS Excel for better performance: Data Formatting, Data Representation, Data Analysis, Logical, Statistical and Financial Functions.

Data Formatting

The basic data formatting functions used in MS Excel are: Cut, Copy, Paste, Format painter, Borders, Alignment, Number formats, Sort and Filter. MBA Graduates will learn these fundamental functions that helps them to excel in their career as managers.

Data Representation

Data Analysis is a most useful aspect of MS Excel. MBA graduates use these basis data analysis MS Excel functions on a daily basis - AND, OR, NOT, IF, SUMIF, COUNTIF, AVERAGEIF and SUMPRODUCT. VLOOKUP most famous lookup and reference function is helpful in pulling out a specific data against well-defined criteria.

Sample Function Details: In its simplest form, the VLOOKUP function says:
=VLOOKUP(Value you want to look up, range where you want to lookup the value, the column number in the range containing the return value, Exact Match or Approximate Match – indicated as 0/FALSE or 1/TRUE).

Data Visualization

Pivot table help the MBA Graduates to better visualize Data and present it. Pivot tables are one of Excel's most powerful features. A pivot table allows you to extract the significance from a large, detailed data set. Many Excel experts believe that pivot tables are the single most powerful tool in Excel. According to Bill Helen (a.k.a. Mr. Excel) “No other tool in Excel gives you the flexibility and analytic power of a pivot table”. By using Pivot table the user can count, present percentage, filter the data, rename fields, automatically format values etc. This is one best tool for every MBA Graduates and must learn and master by using Pivot. Yes, it is much more powerful for MBA Graduates - create graph and chart, import data from the web, data converter, data analysis and visualization tools, and a host of other purposes to support financial decision and business transaction for end users and business professionals.

Conclusion:

Undoubtedly, every MBA student must have complete mastery over Excel to excel in management career. Excel is perhaps the most important computer software program used in the workplace today. That's why so many workers and prospective employees (MBA Graduates) are mandated to learn to excel in order to enter or remain in the workplace.

Microsoft Excel is highly customizable to perform a wide array of functions essential to the business. Many companies have made it mandatory for employees to undergo Excel training as a way to keep up with technology and increasingly demanding business world. MS Excel Mastery will certianly give MBA Graduates a competitive edge in their career.

- Reference Source: The Importance of Excel in Business

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