Benefits of Using Excel Pivot Tables
Managing business data is one of the most time-consuming tasks in an organization. But it is necessary and, if done right, can help businesses make better decisions moving forward.
But it’s not easy to parse through lines of data. Even with the help of tools such as Microsoft Excel, data processing requires skills and patience. Microsoft Excel and other similar business software all have come so far in terms of features and power. But data processing goes beyond just putting them up in a table and coming up with cute graphs here and there. To be competitive in any industry, you need to be able to look at your data and see it from different angles. You should be able to not only read what story your data tells but also be able to read between the lines.
Luckily for us, we’ve got smart people behind Excel who understands our very problems and never tire of providing us with solutions. They have provided us with a way to easily and effectively manage data within excel. They do this by giving us a way to look at our data forward, backward, and from the side – from every angle imaginable.
They call it a pivot table and it has revolutionized how businesses look at their data and how they process it. But what is a pivot table and how can it help businesses? Let’s talk it with this article.
What is a Pivot Table?
A pivot table is a tool that, in the most simple sense, allow users to take their data and summarize it. By using pivot tables, a user can reorganize rows or columns of data. While it sounds pretty normal, it actually helps businesses look at their data differently. A pivot table includes columns, rows, pages, and data field. All of these can be moved around, making it easier for the user to group, isolate, expand, and summarize data from a very big set of information.
But how good are pivot tables and does it present enough benefits for businesses to even consider using them? Should you, as a business owner, encourage your employees handling data to learn pivot tables? Let’s find out.
What are The Benefits of Using Pivot Tables in Excel
Let’s get this straight, when we say user-friendly we don’t mean it is easy to learn. A lot of people consider pivot tables as an advanced tool – because it is. However, once you learn how to use it, it will open up a lot of doors for you and your business. It’s also easy to use and allows you to reorganize your data to fit your needs. All of these can be done with just a few clicks.
Pivot Tables = Instant Data
As soon as you have all your data in a pivot table, you can easily create instant data any way you want. Need a way to see how one item’s relationship to the next? With just a few clicks, you can customize your data to be presented in whatever way you want. This is perfect for on-the-fly data analysis or presentations. If you find yourself in a crunch, a pivot table can allow you to quickly present the data you need.
Easier Data Analysis
Looking at a 30,000 item table can be exhausting. That is if you actually have the patience to go through it. But the beauty of data analysis is that a 30,000 item data set can easily ba analyzed with the right tools. A pivot table is that exact tool. A pivot table can take a large data set and allow you to analyze it in a way that you only need to view the data fields that you want to see. For businesses that regularly go through a large amount of data, this can be a game-changer. A pivot table also makes the data more interactive. With just a few clicks or some drag-and-drop motions here and there you can change what data you are looking at and how it is presented.
Easily Spots Data Patterns
One of the many reasons why businesses go through their data is because they want to look for data patterns. These data patterns allow businesses to have enough information to be able to forecast. By organizing data from a large data set into a customized table, a data analyst can see any recurring trends in the data. For a majority of businesses, being able to create precise forecasting can allow them to prepare a gameplan for the future.
Create Reports Faster
Another big benefit of pivot tables is its ability to help a user create factual and fluff-free reports efficiently. If a pivot table is done right, any user can go in and customize it to make a report for a specific set of data. This saves your workers a lot of time and makes the creation and presentation of reports a great experience for everybody.
The ability to create and customize pivot tables is always welcome in any business. It’s a skill that, although can be quite hard to master, is essential if you want your business to be able to rise above the competition. We all know how important data is, even for small businesses. That is why majority of the applications used by businesses for their day-to-day operations have built-in data reporting features. So partner that up with a data summation and presentation tool like pivot tables and what you have is an endless wealth of information you can use for your business.
If you want to learn or use Pivot Tables then you need to have to install Microsoft Excel on your devices. You can get Excel by buying it as a stand-alone program or get it as part of the Microsoft 365 business suite. If you buy it as a stand-alone program, you need to pay a large one-time fee. Getting it as part of the Microsoft 365 suite means you only need to pay a very small monthly subscription fee and you also get all the other Office tools and apps.
If you want to go down the Microsoft 365 route, you might need help in setting up all your workstations for the various tools and cloud services. If you are anywhere in Calgary then CTECH Consulting Group might just be able to help you out. With years of providing IT solutions to businesses both big and small, CTECH’s team of expert IT support specialists can create a custom solution plan that will fit your needs. Give CTECH a call today and ask about how they can help you solve your IT concerns.
My passion is to make my mark on the world in a positive and lasting way. I want to set an example for my son that his father can compete with integrity in today’s world, be very successful, and leave the world a better place for him.
Combining my technical/business-based education with a long career steadily progressing up the corporate ladder, I decided to build a company that held true to my values. So, I founded and designed the next generation of IT support firm: CTECH Consulting Group Inc. We are a completely automated, cloud-based IT company designed to compete against any other IT firm without the overhead. We promote a lifestyle to all our staff where they can work anywhere, at any time, access any information on any device that is relevant to their job, and collaborate with anyone they want to.