Companies are consistently looking for new ways to collect and analyze data to help them make important business decisions quickly and confidently. Microsoft Excel has long been a trusted tool for businesses in nearly every sector, however, few utilize this versatile tool to the fullest capacity.
Excel pivot tables are one feature that can be used to help businesses save time and money when managing and analyzing data. Here’s what you should know about pivot tables, their benefits, and where to learn more.
A pivot table is a type of table utilized in many forms of business data management software, most notably Microsoft Excel. This table is designed specifically to consolidate or compress large volumes of data and makes it easier for companies to gather, isolate, summarize, group, and quantify data in real time.
Being able to quickly visualize the differences in data sets is helpful when it’s necessary to make important business decisions without much time or preparation.
Pivot tables are one of the most flexible data collection and analysis tools available today. The features of a pivot table are robust, and its customizability is hard to match.
Excel pivot tables allow your team to:
Utilizing pivot tables don’t require the use of complicated formulas or multiple spreadsheets. Instead, you can click and drag columns and fields to reorganize data or view it in a different way.
Users are able to gather various types of important information without needing to change or alter the initial data set in any way. This allows for the segregation and analysis of multiple data sets separately from the originally aggregated data.
Excel pivot tables allows users to create custom tables from large groups or sections of data with just the click of a button. These tables can summarize the data in a concise, easy-to-understand way that can be sorted and labeled in whatever way the user likes.
This flexibility makes Excel pivot tables a highly sought-after business tool, particularly for managers under time constraints.
Manually creating reports in Microsoft Excel can be a daunting and time-consuming task that is prone to human error. Pivot tables offer a creative solution to this problem by enabling users to create a wide variety of reports quickly and efficiently in a few clicks.
By visualizing various data sets in different ways, your team can easily see where action is needed.
At Business Watch Network, we know how challenging it can be to get everyone on your team working together effectively, especially now that so much of today’s workforce has transitioned to remote or online workspaces.
We provide robust, comprehensive online training for companies who want to ensure their employees have the skills they need to be a valuable asset.
Join our upcoming business webinar, Easy-To-Follow Excel Pivot Tables, to learn more about how to use this unique and powerful feature to manage your company’s crucial data and make quick decisions based on facts versus guesses.
Or, contact us to find out how else the team at Business Watch Network can assist your organization.