There is no shortage of data available today, with huge amounts of it being constantly generated by ERP systems, POS systems, PLC systems and Biometric systems, to name but a few.
Companies are needing to find ways to effectively analyse the data, to leverage the information and make informed decisions, however many of the options available are very expensive and require a lengthy period of implementation, plus human natures makes most staff resistant to learning new systems so all in all, decision makers are faced with a challenge on many levels.
Excel has become the main tool for manipulating and analyzing data, and developing reports in business today, and with the release of Excel 2013, Microsoft introduced even more powerful business intelligence tools.
To understand how the Excel Business Intelligence tools work together in Excel 2013, you need to understand the function of each tool and how it fits into the “traditional” Excel model.
Extract, Transform, Load
Power Query is an intuitive, easy to use tool for importing, transforming and working with data.
Spreadsheets are the basic feature of Excel. Launched in 1985, there are now over 700 million Excel users worldwide.
Tables were introduced in Excel 2007, they allow you to do quick sorting and analysis of your data.
Power Pivot was introduced as a free add-in for Excel 2010, it gives you the ability to access, process and handle well over a million rows of data, more than a standard spreadsheet can process.
PivotTables are an easy and convenient way to build intelligent, flexible summary tables, allowing you to quickly derive insight from your business data.
Pivot Charts enable you to visualize a PivotTable. You can quickly change a portion of data displayed, making PivotChart ideal for presentation of data in reports.
Power View is an interactive data exploration, visualisation and presentation tool that gives you strong insight in to your business .
So what is the bottom line?
Before spending time and money on new data analysis tools, find out exactly how learning how to use all the Excel Business Intelligence Tools effectively will allow you to quickly and easily analyse your data and gain insight into it without any major resource investments.
Over a billion people around the world use Excel today, far more users than any other BI vendor can claim.
Ian Littlejohn worked as a Management Consultant for 15 years and is passionate about teaching business people to analyze data and understand business data.