What Are The Importance Of Microsoft Excel Application?


5 Answers

Joe McHugh Profile
Joe McHugh answered
Microsoft Excel has been such a popular software package that it has developed into a business essential that is setting the standards in accounting and is considered essential in any level of business.

  • History and development

The original version of Excel wasn't much more than a basic spreadsheet package capable of storing figures and performing some basic calculations. Whereas the latest version includes various far reaching features allowing different calculations and projections to be made and illustrated in imaginative and easy to follow graphics.

The success of Excel can be measured by the number of books and publications available that explain how to get the most out of Excel with the financial analysis tool being one of the most important recent additions to the system.

  • Functionality

By combining a range of functions, Excel has become much more than a software package to record results on. By linking different aspects of a business the knock on effect of changes in figures can be anticipated allowing a business to use Excel to plan future strategies.

This functionality has made Excel essential at every level of management allowing predictions to be made with a degree of authority.

  • Customization

With a package that can be used across almost all industries, customization is an essential element of Excel. This allows individual companies to tailor Excel to their precise needs but also ensures that users have a general grasp of the package and can quickly come to terms with how other businesses are applying the package.

With Microsoft's commitment to improvement and new technology becoming available, further enhancements of the package can be anticipated to ensure that Excel remains an essential part of all business accounting and planning.
John Swindells Profile
John Swindells answered
Microsoft Excel is a powerful spreadsheet application for the desktop computer. It handles tables of data (numbers, usually) and is able to perform simple or complex calculations on all sorts of different ranges of data.

It can also perform charting (ie, bar charts, pie charts, scatter plots, etc) and perform basic statistical analysis.
Anonymous Profile
Anonymous answered
In a business standpoint, no matter what kind of business it is, Microsoft Excel is an important software, especially for businesses that deals with a lot of numbers, data, statistics. Its a spreadsheet software that simplifies creating, editing, and updating graphs, charts, statistics, and handles sophisticated equations (i.e.average sum, yearly percentage etc) that could be time consuming if done manually. Another software that is used for large amount of data is Microsoft Access, I believe.
Anonymous Profile
Anonymous answered
The importance of ms excel it can make paper works easier and faster in terms of financial industry
Kele Jiang Profile
Kele Jiang answered
There are five basic elements:
(1) The title bar
(2) The menu Bar
(3) The toolbar
(4) The work area
(5) The status bar

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