MS Excel is a very powerful force you have in your hand. It is not only used to prepare tables but also has some powerful tools to help you find a way. Many think that MS Excel is only used for preparing charts, graphs, tables, calendars or saving data. But, the reality is that it has special tools which can be used for evaluating and analysing the statistical data. One finds a dozen difficulties to evaluate statistics manually. But, to your difficulties MS Excel has an answer to. You can rely on MS Excel for evaluation, calculation and analysis of the statistics.
How can you use the powerful tool of the MS Excel? Well, no worries, a set of instructions will guide you.
MS Excel is an integral part of MS Office, which has spread sheets to work on for evaluation and analysis of collected data. There are bundle of uses of MS Excel, but you only realize there importance once you enter in to the world of MS Excel’s spread sheets, formatting, tables, rows and columns. It actually helps you to analyse the collected data and perform a set of operations on the latter. By a mere click of mouse you can evaluate the querulous sum in a fraction of second. Here the graphical approach towards data analysis will be taken in to consideration.
Prepare the regular charts of the collected data and convert the same in to a Shewhart control chart. One can convert the regular chart in to a Shewhart one within seconds. Keep in mind to manipulate the series of data. Maintain a centreline and lower n upper limits for the chart.
It is one the most famous way of analyzing the data and is considered as the best approach towards the analysis of data. The concept behind Pareto analysis is quite simple. It says that 20% causes are responsible for the creation of 80% problems and bugs. It actually helps in the creation of Histograms.
It also says that if you study those 20% causes precisely, you can tackle with 80% problems that were in hand. Ultimately, you can enhance the performance of your business by 80%.
You can enhance your MS Excel’s capabilities getting some add-ons to your Excel application. For example, you can install the Data analysis Tool Pack. The latter can help you perform a bundle of operations like finding standard deviation, variance, mode, mean and median etc. Once you download the Data analysis Tool Pack on your system; you need to install the latter. Since, it is not the part of MS Excel you need to click on the “Tools” tab in your Excel spread sheet. Then followed by a click on the “Add-Ins” option and from the drop down menu choose by clicking on the “Data analysis Tool Pack.”
Nevertheless, MS Excel is a wonderful support for the users’ and helps one to perform a bunch of operations in a one go.