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

While much has been said about Excel’s inability to store and query data, I’ve noticed that these comments often come from database developers, BI industry peers, or people who push Excel to the limits of dealing with large amounts of data.

Excel can help you with your report…

It is true that Excel is great as a reporting front-end thanks to its extensive statistical/scientific function library but it is not a great tool for bulk data manipulation or finding patterns in your data.

But we’re talking about flat files in your workbook here, tables that usually come from a complex query made by a powerful database software.

**You can use Excel to find patterns in data and then present the information in the form of usable and understandable reports.**

“Excel and Access are both 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 analytical and presentation methods.” – Charley Kyd – ExcelUser.com

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

- Populating tables with data from other tables
- Collecting/merging information of different tables
- Comparing tables
- Looking for patterns
- Finding exceptions
- Comparing trends
- Monitoring progress
- Integration measures
- Playing with data
- Reconciliation of data
- Matching data

The purpose of these Excel functions and formulas is to return values from Excel databases (flat files) to cells in Excel reports and analyses.

Excel disposes of more than 300 functions. You only need 10 of them to create reports.

- VLOOKUP and VLOOKUP + auxiliary column
- INDEX and MATCH
- Array formulas
- SUMPRODUCT
- SUMIF
- SUMIFS
- COUNTIF
- COUNTIFS
- AVERAGEIF
- AVERAGEIFS

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

**conclusion**

Understand these formulas and you’ll get a boost in your reporting skills, you’ll soon get a boost in your data presentation abilities.

“… You can become a data god who can lookup, manipulate and analyze any spreadsheet by learning a few Excel formulas. Pointy Haired Dilbert” – Chandoo.org

I find the use of lookup formulas within another formula to be the most valuable aspect of its practical use.

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