How to Analyze Data in Excel Like an Expert?

When looking for a reliable tool to conduct data analysis, Excel stands as one of the most reliable tools designed to get the job done. The tool is equipped with additional features that make data visualization an easy task that you can complete within minutes. Microsoft Excel is an all-in-one data visualization tool that is accompanied by a bunch of features that are used to make work easier. 

Analyzing data in Excel is a simple task that only requires basic knowledge to navigate throughout the process. Excel enables you to import, export, clean, analyze, and sort data.

The tool has the capability to dig deeper into your data and uncover all the meaningful information hidden behind the curtains. During data analysis, it is always essential to have a reliable tool that can easily achieve your objectives. 

Most people struggle when it comes to data analysis since they lack a preferred tool that has all the features and designs they need. With Microsoft Excel, you can easily analyze your data like an expert without calling for a helping hand.

When data is presented in Microsoft Excel, it becomes easier for you to analyze it and extract meaningful information that you can use when making decisions. 

Even though this is one of the most reliable tools available, not everybody understands how to use it during that analysis. This blog post shares a series of tips and hacks that data analysts and business owners can use to make conclusions from their data. Check this out! 

How to Conduct Data Analysis in Excel? 

Conducting data analysis in Excel revolves around the application of different charts and graphs to get the job done. What makes Excel a reliable option is the fact that you can easily navigate the process using different types of charts and graphs that are designed to make data easier to read.

This automatically means that throughout the data analysis process, charts and graphs play a significant role in transforming the data into an easier-to-read format. 

Charts 

When you want to present a data narrative to your audience in a graphics format, charts are the most ideal options to use. Charts are designed to summarize data to make datasets easier to read and grasp without calling for interpretation.

Microsoft Excel has an impeccable reputation for organizing data into spreadsheets that are more presentable than any other data format. A chart refers to a graphical representation of a given set of factual data. 

Charts use different features such as bars, columns, or lines in a line chart to present data. Excel offers a wide variety of charts and graphs that you can easily choose and use depending on the nature of your data.

Different charts and graphs are applied depending on the nature of the data and the goal of data analysis. This means that you can tailor a chart based on your recommendations when you want to come up with reliable data output. 

Besides, Excel charts play a fundamental role in data analysis since they emphasize the areas that matter. You can use Excel charts to filter out unnecessary noise from your data to come up with reliable sets of data that you can use for decision-making.

By filtering data, it becomes easier for you to focus and emphasize the most important data points that are helpful in achieving your business objectives. 

Creating charts and graphs in Excel is an easier task that we can easily achieve by clicking on the insert tab located on the main menu and choosing charts. This means that it only takes a few minutes, and you have a complete chat on the graph but outline all your data set.

Once you have created the chart, you can easily make changes and customize it based on your recommendations. As a result, it becomes easier for you to compose a chart or graph that reciprocates your data needs. 

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Conditional Formatting

Conditional formatting is a great way to help you highlight the existing patterns and trends in your data. It also helps in creating rules that clearly define the format of your cells depending on the values displayed at hand.

Note that conditional formatting can be applied to a wide variety of data sets depending on your recommendations. This is a simple process that any data analyst can achieve without wasting much of their time. 

When using Microsoft Excel for data analysis, it is essential to note that there are different methods applied to data analysis. The method applied depends on the nature of the data and the data analysis objective. Once you have all this information, you can choose a reliable method that reciprocates your needs. 

To create a combo chart, select the data you want to be displayed, then click the dialog launcher in the corner of the Charts group on the Insert tab to open the Insert Chart dialog box. Select combo from the All Charts tab.

Types of Data Analysis in Microsoft Excel

There are different types of data analysis in Microsoft Excel that one can adopt depending on their objectives. Below are some of the major types of data analysis in Microsoft Excel that you can put into practice during data visualization. 

Filter 

You can choose to use the filter function to filter a specific section of your data depending on the criteria you provide. This feature enables you to save time and filter your data based on the data analysis recommendations. 

Conditional Formatting 

The conditional formatting aspect is designed to help you when you want to highlight the cells with a particular color across the entire dataset. This aspect depends on the nature of the data set and the nature of the values outlined in the cells. 

Charts 

Charts are types of graphics that are known to present massive sets of data in the simplest way possible. Making different types of charts using Microsoft Excel is a simple activity that takes the shortest time possible. The chart you create should go hand-in-hand with the kind of data you intend to represent. 

Sorting

Sorting data in spreadsheets refers to rearranging data values to display a meaningful message. With Excel, you can sort a wide range of data sets displayed in tables or any other format. The data displayed on the chart can be ranked based on your personal preferences. 

Conclusion:

Considering the hacks shared in this article, you will realize that data analysis in Excel is not difficult a task as many people think. This process only takes a few minutes, provided that you have a basic understanding of what it takes to analyze your data. 

Acquiring basic information and guidelines to navigate through Excel data analysis will save you time and expenses when it comes to hiring data analysis experts. 

The method you choose for data analysis in Excel should go hand-in-hand with the type of data and your end goal. Applying the wrong way will automatically give you the wrong results. This is a strategy that you can use to offer you guidance throughout the process and make your work easier.