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## Excel Report – 10 Golden Formulas For Reporting and Analyzing Business Data

There is a lot of talk about the inefficiency of Excel to store and query data, I noticed that these comments often come from data developers, BI industry guys, or from people who push Excel to the limits to deal with large amounts of data.

Excel can help you with your reports…

It’s true that Excel is great as a front-end for reporting on an extensive statistical/scientific library but it’s not a great tool for manipulating large amounts of data or finding patterns in your data.

But we’re talking here about the flat files that live in your workbook, the tables that often appear in complex queries made by powerful database software.

**You can use Excel to find patterns in data and present the information as actionable reports and ideas.**

“Both Excel and Access are good tools for finding patterns in data. But they work with different types of data and help users find different types of patterns using different methods of analysis and presentation.” Charley Kyd – ExcelUser.com

Here are the types of operations you can perform using pure Excel formulas:

- Populating tables with data from other tables
- Collecting/combining information from different tables
- Comparing tables
- Finding patterns
- Finding options
- Comparing methods
- Monitoring progress
- Assembly steps
- Playing with data
- Data alignment
- Related data

The purpose of these Excel functions and formulas is to return values from the Excel database (structured files) to cells in Excel reports and analysis.

Excel offers more than 300 functions. You only need 10 of them to make reports.

- VLOOKUP and VLOOKUP + Auxiliary Column
- INDEX and MATCH
- List formulas
- SUMPRODUCT
- SUMIF
- SUMIFS
- COUNTIF
- COUNTIFS
- AVERAGEIF
- AVERAGEIFS

Of course you need other formulas, but these are the building blocks, for example you may want to calculate the standard deviation of the returned value or the sum of the returned values.

**To conclude**

Master these formulas and you will experience an increase in your reporting skills, soon you will experience an increase in your ability to present Data.

“…you can become a data god who can view, manage and analyze any spreadsheet by learning a few Excel Formulas. Pointy Hared Dilbert” – Chandoo.org

I find the use of lookup formulas within other formulas to be the most important aspect of their use.

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