Excel is one of the most powerful tools you can use in a business. From professional financial dashboard templates to budget calculations, certain features in excel may maximize how you look at your business. Pivot tables are a feature that most Excel users are not aware of. However, it’s one of the best things you can make for yourself when using Excel.
If you’re unsure about these tables, don’t worry, we have you covered.
What are Pivot Tables in Excel?
A pivot table is a tool to summarize data in Excel. If you’re dealing with large datasets and want to get the most information out of them quickly, then applying pivot tables is one of the best ways to do so. Pivot tables allow you to get the best insights and identify patterns in the data sets.
These tables are also completely dynamic, which means you can add new data to the overall tables and get different results depending on the addition. Thus, pivot tables may increase the speed you can gain insights and commit to data analyses. These analyses, in turn, also help you make better business decisions.
The reason that a pivot table may be called so is that it allows you to look at data from a variety of angles. So, suppose a dataset is not useful from an economic perspective. It may still have value from a social perspective. Think of pivot tables as ways to shift your perspective.
What Purpose do They Serve?
Pivot tables are a simple enough concept. Let’s look at the many different purposes they serve, including:
1. Aggregating Sales
If your business decides between two products, then a pivot table can help you decide which is more profitable over a large period. Forecasting or predictive analysis often looks at large volumes of data, while finding a product’s monthly aggregate sales is easy. Applying a pivot table can be the most accurate and quick method for a longer period.
2. Summarizing Data
If you’re looking for a quick data summary, then employing pivot tables is the best thing for you to do. It’s also easier to categorize datasets by ensuring that you can divide them by product, date, and region. Pivot tables then let you access the data category you would need at any given moment so you can make more specific decisions.
3. Data Analysis
Pivot tables allow you to conduct a lot of different calculations. For example, you can aggregate any duplicate data that you have around. They also let you conduct other calculations, such as sum, average, and percentage, to thoroughly analyze the data before acquiring any insights.
4. Data Visualization
Pivot tables in Excel also allow you to create charts and graphs, which will allow you to look at data in a different light. They are also a great way to present data to potential customers and investors for maximum transparency.
Pivot Tables In Excel With Biz Infograph!
Excel is an extremely important tool for any business, and with the pivot tables features, you can get the most out of the software. It may get complicated for you, so you must contact Biz Infograph. We’ll help you with all the information on excel features, including the comparison slide templates and financial dashboard templates so that you can maximize your business growth in the most optimized way with data sets.