The answer is simple: its main benefit lies in the fact that it makes it easy to create spreadsheets that are totally relevant to your business context.
Flexibility and customization of the software
The flexibility of the Excel software makes it possible to create simple work tools to meet the needs of users. For example, adding PivotTables, Modular Charts, drop-down menus, and interactive controls allows users to view files from different angles. And since Excel is a file, the user can quickly add pages to the base file to do his analysis. Few turnkey software products offer such a high degree of flexibility and customization.
The rapid development of tools
The time required for an advanced user to develop a powerful tool in Excel is more than reasonable. Conversely, having a device designed by an IT team can not only be long and arduous but often at the heart of the development, the realities of the business, and therefore its needs change, and the development process ends up. Moreover, at the end of the process, if we do not have exactly what we wanted as a tool, we cannot make the changes ourselves. We must re-embark again in a long process of development. Excel, on the other hand, makes it possible to adapt quickly to the new needs of the company.
Ability to link to external databases
Did you know? Excel can readily bind to external databases like SQL, Access or others. The basic version allows specific links and additional add-ins will enable you to push even further (PowerPivot for example).
Advanced Automation Capabilities
Automating many tasks with Excel is possible. This can be done via basic macros but also with pre-defined functions and built-in features. An user with advanced excel training can build robust and flexible models, allowing for simulations (generate the results of several scenarios automatically, without having to repeat the calculations from the beginning). Also, Excel makes it possible to integrate automated sensitivity analysis, when required.
Ability to add add-in for more performance
It is possible to add add-ins to improve the possibilities of linking with external databases, but there are also other types of the add-in that give Excel much more performance (the Analysis Tool Pack for example).
Some sources mention that 70% to 80% of companies use Excel in their daily activities. In my practice, I notice that all the companies I work with, without exception, use Excel. Regardless of the actual%, Excel is undeniably implanted in a vast majority of companies.
Although in the majority of cases, excel training course in Delhi NCR remains the best tool to perform specific tasks, it remains that many companies are experiencing real nightmares with this tool. If Excel allows great flexibility and offers a remarkable degree of automation, misused, it can introduce considerable administrative burden and make any user cry. One has only to think of broken formulas, files that do not sway, errors of calculation which lead to decisions based on wrong information. But before moving on to other tools, which will not well often do not solve the underlying problems, in my opinion, there are specific steps to take.