Data analysis is a method of collecting, inspecting, cleansing, transforming, storing, modelling the data or information in order to draw conclusions thereon and to make decisions. In the business world, data Analytics has become a significant tool to analyse the growth of the business and for making better decisions on the basis of past data by making future predictions. Excel is one of the tools of making data analytics and it is the most significant tool as it can convert your large structured and unstructured data into simple data which makes it for analysis. Thus, this article is a tutorial on Data Analytics in Excel.
Important Function of Data Analytics in Excel
The first function to learn in Data Analytics in Excel is VLOOKUP() function. Vlookup() formulae is an inbuilt function of excel sheet and it is basically used for comparing two sheets on the basis of common values or columns. This is why this function is also known as Reference function or look-up function. The syntax of the formulae is very easy and it is (value, table, index number, [approximate match]).
Here value is the value you want to search in the first sheet or in the first column.
Table is basically two or more columns which are required to be sorted.
Index number is the column number from which the matching value shall be returned.
Approximate match is to find the match. If you will enter the True then you will get an approximate value and if you will enter the False then you will get an exact value. And if you omit to write any of these then it will take True by default and you will get an approximate match.
This function can return any kind of data such as string, numerical or dates, Words etc.
Second important function to learn in Data Analytics in Excel is Concatenate. Since it is not possible that we will always have structured data in our excel as per our needs and whims therefore we can either split the data or content of one cell into individual cells or you can combine the individual cells. This is where this Concatenate function is used in Excel that is to structure the data through merging cells or by concatenate cells’ values.
You can merge two or multiple cells physically into one cell thus you will have a large cell.
You can also concatenate cells in Excel. Through this you will only combine the data or content of the cells by joining two or more values together.
Formulae for Concatenate is =concatenate( Cells you want to merge).
Third important function of Excel to learn for Data analytics in Excel is LEN. This function is used for returning the length of a particular or specific string; this is why it is also called a String or text function. It is also an inbuilt function of excel which is popularly used by data analysts.
It is used in two ways –
Firstly as a Worksheet function. Then it will be entered as a part of the worksheet formulae in the cell.
Secondly as a VBA function and then you will use the LEN function in the Macro Code.
The syntax of the LEN function is LEN (text). Here the text is basically the string of which length is to be returned.
It is majorly used by Data analysts in Excel for finding the difference between two different UIDs which are lengthy and not placed in the right order.
The next tool for Data Analytics in Excel is COUNTA. It’s syntax is =COUNTA(required cell).
As the name suggests, it is used for counting cells containing any kind of information such as error values. But it will not count empty cells.
If you want to count only the cells having numbers then you can use the COUNTA function. And if you want to count the cells having logical values or having different criteria then you can use the COUNTIF function.
The next function to learn for Data Analytics in Excel is SUMIFS. It’s syntax is =SUM(Range, Criteria) if you want to sum cells having numbers and use SUMIFS(Range, Criteria) if you want to sum cells meeting different criteria.
Next function to learn in Data Analytics in Excel is the Find or Search function. With this function you can search any data or information from the whole database or sheet. Its syntax is also very easy as it is =Find.
Last function of excel to learn for Data Analytics in Excel is AVERAGEIFS. It is used for computing the average of numbers in different cells. You can also use logical operators like (>,<,<>,=) and wildcards (*,?) for the partial matching. You can bring out the average of multiple cells fulfilling multiple criterias in easy steps.
It’s syntax is =AVERAGEIFS(average_rng_range,criteria1).
Data analytics has emerged as an important stream for decision making in the business world. All the business decisions are based on the future predictions and past records by analysing the given business data or information by business intelligence. Excel is a leading tool used for data analytics. Excel has a lot more functions than we know. This article is aimed at giving a step by step tutorial on the significant functions for Data Analytics in Excel. Get the best data analytics assignment help from the experts.