Many manufacturers still use Excel because it’s the universal language of data analysis, so to speak. They can’t imagine living without their simple and personal analysis tool. Finance departments have been married to Excel for more than 20 years. Is Excel being phased out?Įxcel has become obsolete as a financial analysis tool and should be replaced with business intelligence. It’s clear that Excel simply isn’t providing the solution that many modern businesses need. While Excel may not be going away entirely, as it still provides a variety of integral functions to businesses, it is at least making its long-foreseen departure from the world of finance. Most people write reports in Word, so it’s easy to cut and paste data or charts from Excel into Word. Excel is also great because you have the ability to cut and paste into reports. It’s especially handy for making data analysis available to the average person at your organization.Įxcel has very easy-to-use charting functionality compared to other software, and several helpful built-in features. Is Excel good for data analysis?Įxcel is a great tool for analyzing data. It explains in detail how to perform various data analysis functions using the features available in MS-Excel. In the Add-Ins available: box, select the Analysis ToolPak check box, and then click OK.ĭata Analysis with Excel is a comprehensive tutorial that provides a good insight into the latest and advanced features available in Microsoft Excel.Click Add-Ins and in the Manage box, select Excel Add-ins.From Excel 2013 or Excel 2016, click the File tab, and then click Options.
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