Sunday, October 24, 2010

What should we know to be an expert in MS Excel??

Many people appreciate my excel skills. But if someone asks me what do I know, i don't have an answer since I know few basic excel skills and I know how to make perfect utilization of it to develop any model through it. The following are a few skills that I have.

1. Count and Sum:

Some of the formulas that are highly useful in this category are: sum, sumif, sumifs, sumproduct, sumsq, sumx2my2(sum of x square - y square), sumx2py2(sum of x square + y square), sumxmy2(sum of (x - y) square), count, countif, countifs, average, etc

2. Key board shortcuts:

There are a list of excel shortcuts that are highly useful and that makes the work faster. All the shortcuts can be seen in the following link by microsoft.

In this, the most important that cannot be ignored are: F2, F4, Ctrl + c, Ctrl + v, Ctrl + directional arrows, home, end, etc

3. Logical and Conditional formulas:

A few but most important formulas are: if, iferror, and, or, not, etc

4. Filters:

Data can be filtered as per our requirement by using the concept of filters. There is also an advanced filter which is an added advantage over the normal filter.


5. Lookups:

Hlookup and Vlookup are the major requirement while dealing with a major set of data. To develop a dynamic model in excel including filtering gets easier using lookups

6. Security and Protection:

For keeping your data unmodifiable in a particular cell or worksheet or file, you can protect it. It is available in Home/Cells/Protection.

7. Charts and Pivot Table:

Pivot table is highly useful in organizing, calculating sum, count, average, etc and summarizing the data based on requirement. A chart also helps presenting the data in an easier pictorial format.

8. Others:

There are certain other concepts which are most important in excel. Some of the most important are Solver, Goal Seek, data table, scenario analysis, data analysis, conditional formating, macros, etc.