Microsoft Excel is powerful spreadsheet software utilized for storing information in rows and columns that can be organized and processed.
This is a crucial tool for managing, organizing and maintaining crucial data, financial forecasting and much more.
Excel stands on the top for analyzing data and the inbuilt pivot tables are possibly the most popular analytic tool.
And this is the reason Excel is still relevant to some companies for performing various tasks.
But like any other piece of software, Excel is not PERFECT.
Here check out the merits demerits to choose Excel for data analysis to know whether it is right or wrong for you.
Follow Merits Demerits To Choose Excel for Data Analysis
Why Choose Excel:
1. Familiar UI:
Excel widely being used in the large as well small business sectors, because of its familar user interface.
Microsoft Office comes installed in every PC/laptop or sold at a fraction of the cost of any other tool to analyze data.
Excel is widely used application in various sectors for managing, organazing data.
Well, many users don’t know they can script and automate a lot of MS Office tasks same like other scripting languages/tools.
MS Office VBA (Visual Basic for Applications) is programming language of Excel and other Office programs.
This requires skills as this allows the users to become more creative with the application they need to create for automation of tasks.
The VBA in MS Excel makes the user work more creatively by working with data sets by connecting to the database such as Microsoft SQL Server.
This is highly useful and no other software allows this level of automation facilities.
3. Discover Trends:
Excel offers trend lines extended outside the graph, to offer the forecast of future activity…
…and these predictions help businesses expand their future strategies.
While presenting data in charts of the graph it is highly helpful.
As this allows including average lines, that clearly specify the key trends emerging from the information.
This might help in displaying the essential points to the users in a clear way.
4. Access Excel Online:
This is the reason that makes Excel stand at the top than other tools.
Excel is presented as a part of Office 365 Business and Office 365 Business Premium.
And this means now the business leaders and employees access the program from the various range of devices from any location.
The PC, laptop, Smartphone or tablet users having the web-enabled can easily access Excel.
5. Cost Effective:
This is another major factor that makes MS Excel most powerful tool and why this is being utilized by world-widely.
The MS Excel is really very cost effective…
…and also less pricey than any other tools available in the market.
This is the reason it is positively worth choosing Excel for performing various tasks and managing crucial data.
Well, these are the best advantages of using Excel.
Excel is an essential tool for administration and effectively business running.
But it is also obviously having some limitations in it.
And as more powerful tools have come in the market…
…besides of its lots of merits, there are some demerits in it too, that stop Excel to move forward in the future of the data analysis.
Here, check out the reasons…
Why Not Choose Excel:
1. Data Limit:
Well, besides of Excel plenty of handy uses; it is having a big demerit.
Due to various limitation Excel is severely hampered.
This allows only about a million of data lines in an Excel sheet.
To fix this problem, there are various troubleshooting steps.
But this is pointed as one of the demerits where MS Excel doesn’t deserve to be the first choice for running analysis on data sizes that are larger than million lines.
If we look around, there are very limited scenarios where data is extracted from less than a million lines.
Well, this is the most damaging Excel disadvantage.
It is highly vulnerable and this arises fake manipulation in company Excel files and this result in billion dollar losses.
Due to the Excel inbuilt lack of controls over security…
…this is marked as the biggest demerit in Excel.
In Excel spreadsheet, it is easy to alter formulas, values or dependencies…
In MS Excel, there is a wide range of options available to accomplish various data’s.
But there is a disadvantage seen in the Excel while managing crucial data is the performance issues…
…and this is the reason other companies are preferring utilizing other tools.
It becomes difficult to handle an Excel file while performing plenty of different dashboards related tasks.
4. Combined Work Issues:
While performing multiple activities in Excel, users are facing problems.
Adding information of plans, budgets, forecasts and reports from different individuals belonging to different departments result in showing issues.
The final documents are a result of multiple exchanges of data, ideas, and files…
…and such a method of exchange is susceptible to duplicate and also invalid data.
Lots of collaborative work is hard to manage the Excel file and end up sending the wrong version.
This is the last Excel demerit, which switches Excel users to other tools.
Excel is very much prone to corruption and starts showing errors.
Excel is very crucial file a minor mistake or mishandling of Excel workbook makes the entire file corrupted…
…and due to this, the entire data stored in it becomes inaccessible.
This is the very miserable situation for the businesses or companies.
To repair the corrupted Excel file there are many tools available online.
You can make use of the MS Excel Repair Tool; this is a professional recommended solution to repair corrupted, damaged and even errors in Excel file.
This is the unique tool that repairs multiple corrupted files in one repair cycle…
…and recovers the entire data stored in the preferred location.
It is easy to use.
After writing the merits demerits to choose Excel for data analysis in this article, I have come to the conclusion that even though Excel is an enormously capable tool with lots of powerful features.
But it appears that it does not have the considerable role to make use of it for data analysis in future.
Excel is diminished tool, as now the industries are increasingly moving towards the predictive analytics.
But apart from it diminishes position, MS Excel is definitely a powerful tool…
…used across the business for managing financial information and other related data to the running of the business.
When it comes to manage, organize or analyze data this comes in the first place and hopefully remains there in future.