Excell.docx - From the video excel helps a business to easily analyse its data of sales purchases profits and loses by obtaining the analytical figures

Excell.docx - From the video excel helps a business to...

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From the video, excel helps a business to easily analyse its data of sales, purchases, profits and loses by obtaining the analytical figures of mean, mode, standard deviation and other needed figures. A business can also draw charts such as a histogram to provide graphical representation of the data which is easier to analyse and make decisions out of it. Using excel, large amounts of data can be analysed hence discovering the trends and patterns of the business value which is a key concept to help in decision making. Using graphs, it is easier to report finances and accounting as well as overall performance. Excel provides logistics in an argument and making business decisions. When good profit margins are observed from the histogram, the business can make decisions to enlarge its operations may be by opening new operation centres or increasing its stock. In cases the business
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Unformatted text preview: is making not so good profits or its making loses, decisions on what is causing the not so good performance, and possible solutions such as changing operation strategies or soliciting for investors can be made. Generally, using excel in accounting and budgeting, data analysis, reporting, and forecasting helps to critically make business strategies. For example, for making accounting and budgeting strategies, the business will be in a position to easily learn about all the stock or investments to the business, all the sales that were made and the margins. The margins will therefore be used to budget on the future of the business using the easily available data created using the efficient excel. Using this data, the business direction is easily detected and appropriate measures taken...
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  • Summer '19
  • Dr. Ian

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