March 3, 2021

Why should management students be fluent in Microsoft Excel?

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Microsoft Excel has become an essential part of most business organizations across the world. Excel is not anymore just rows and columns. Excel is the most important tool for diverse functions and applications ranging from large IT projects to data tracking in a company.

If you are a management student who wishes to pursue a career in the field of business, proficiency in MS Excel will help you. Poor finance or money management impacts the growth of any business. So, the need for Excel is very important to any business.

Today, office-based professionals are expected for stronger Excel skills. Good management skills can open the door to more leadership opportunities. Microsoft Excel has grown to be an inevitable part of day-to-day business activities. From the simple calculations to complex algorithms and visual data representation, MS Excel allows users to easily perform activities.

Why Microsoft Excel is important for management students

There are several functions of Microsoft Excel. A business professional cannot find a better platform to maintain financial details rather than in excel. Let’s check out the benefits management students gain learning MS Excel. 

Makes Business Easy

If you explore MS Excel, you will find out how to visualize, manipulate, and evaluate the data effectively. You can create equations that manage your organisation’s workflow, project efficiency, financial projections and budgets. You will learn to design spreadsheets that will effectively organize data and provide a better picture of the information.

Be it data from other departments, vendors, and customers, an Excel sheet can keep it better organised. It will help you balance complex financial calculations and create tracking systems for different operations. 

Improve your efficiency and productivity

A management student in future might have to work in multinational companies or businesses. There you will have to deal with large amounts of data and calculations. If you become proficient and skilled in MS Excel, you will have the ability to use more sophisticated tools. MS Excel allows you to complete your tasks and data more quickly.  Advanced Excel Experts can teach you important tools for competing in the market and build your business effectively. 

Excel will allow you to better streamline your calculations and workflows. With advanced Excel tools, solve complex calculations and handle repetitive calculations quickly.

Better tools for better financial decisions

MS Excel has various tools to use in your business. Tools like Net Present Value (NPV), Internal Rate Of Return (IRR), Pivot Tables & Charts, VLOOKUP & HLOOKUP Functions, COUNT Functions, SUM Functions, TREND function helps you forecast revenues, costs, capacity utilization, etc. This family of functions is very useful for financial modelling and other types of operations modelling. Enhance your skills in Advanced Excel Training crucial to advance your career. 

Be a skilled employee of your organisation

Your skill set lets you stand out in the crowd. If you are a management student, you will be expected to be skilled in MS Excel. Being a valuable employee opens up opportunities for advancement. The faster and smarter you work, the more the company acknowledges you. Skills in MS Excel will undoubtedly be an asset in your resume and career growth. However, if you are a management student, mastering MS Excel skills is crucial to stay on top of your game. 

Bring all the data together

Do you know that there are more than 1,048,576 rows and 16,384 columns in a spreadsheet?  You can not only add and bring together various data from other spreadsheets but add pictures for better visualisation. You can combine Excel to other applications like MS Word, Outlook, PowerPoint, Access, SQL Server, Power BI or Web. You can create amazing results as Excel workbooks will be fast and bug-free. Moreover, the pie charts, clustered columns and graphs make it easier to analyze and interpret information in little time. Here check out more interesting facts about advanced Excel. 

In a nutshell, the sole purpose of Excel is to compile all your financial data in the business. Get a clear idea about the progress business has made by maintaining a complete track of your organisation. As a management student, start your journey with Excel today. And in future, identify the high and low sales trends of your business easily!

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