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OMIS-Excel Notes-Linda's

G budgets submitting bids focus for data analysis

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Unformatted text preview: quantity assessment, inventory turnover and cost estimation, budgeting, household record keeping, etc. Some advantages of Spreadsheets - Once it’s set up properly, the user can save time by never having to set up the spreadsheet again. - Blank spreadsheets are called ‘templates’ o E.g. monthly salaries, grade sheets 4 Excel Notes - Jessica Gahtan OMIS2000 Spreadsheets are capable of exploring “what- if” scenarios (e.g. budgets, submitting bids) Focus for Data Analysis sessions What can we do with data? 1. Techniques and tools (excel basics) 2. Summarize and interpret data 3. Data visualization 4. Gathering, collecting and organizing data 5. Data aggregation 6. Modeling and analysis 7. Scenario analysis Having the right (relevant) data is essential to generate useful insights and improve decision- making! Where are we headed? - Once we have an appreciation for the uses and importance of data, it will become clear that having relevant, well organized data is advantageous for decision making - Let’s then take a step back to think about how we get to that point… How to get the right data? - Anticipate the questions you may need or want to ask (or answers you may need to provide) - Identify the data and information that would be useful in answering those questions - Gather relevant data - Create structures to record and organize the data effectively - How to systematically model organizational data? Entity relationship diagrams (lectures 8- 12) Excel’s Data Analysis Features - Over the first 7 lectures, we’ll explore many of Excel’s more sophisticated data analysis features o Pivot table, filter, advanced formatting, goal seek, subtotals, functions - First, we need to understand the basics of how our tools work… How to learn Excel? - MyITlab- video tutorials, practice exercises (s...
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