# Excel Formula For Total Of Time Worked And Hourly Rate The Importance Of Excel In The Workplace

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## The Importance Of Excel In The Workplace

Excel is perhaps the most important computer software program used in the workplace today. That’s why many workers and potential employees need to learn Excel to enter or stay in the workplace.

From an employer’s perspective, especially in the field of information systems, the use of Excel as an end-user computing tool is essential. Not only are many business professionals using Excel to perform daily functional tasks in the workplace, an increasing number of employers rely on Excel for decision support.

In general, Excel dominates the spreadsheet product industry with an estimated 90 percent market share. Excel 2007 has the capacity for spreadsheets up to one million rows by 16,000 columns, enabling the user to import and work with large amounts of data and achieve faster calculation performance than ever before.

Outside the workplace, Excel is widely used for everyday problem solving.

Let’s say you have a home office. You can use Excel to calculate sales tax on purchases, calculate the cost of a car trip, create a temperature conversion, calculate the price of a pizza per square inch, and analyze input data. You can track your debt, income and assets, determine your debt to income ratio, calculate your net worth, and use this information to prepare for the process of applying for a new home mortgage. The personal uses for Excel are almost as endless as the business uses for this software – and Excel Tutorials focuses on practical uses of the program for both personal and business use.

The use of spreadsheets on computers is not new. Spreadsheets, in electronic form, have existed since before the introduction of the personal computer. Excel and Lotus 1-2-3 pioneer packages, such as VisiCalc, were developed and modeled on accountants’ financial accounts. Since 1987, spreadsheet programs have been impacting the business world. Along the way, computerized spreadsheets have become a widespread and increasingly effective tool for comparative data analysis around the world.

Today, end users use Excel to create and modify spreadsheets as well as author web pages with links and complex formatting specifications. They create macros and scripts. Although some of these programs are small, one-shot calculations, many are very important and affect important financial decisions and business transactions.

Widely used by businesses, service agencies, volunteer groups, private sector organizations, scientists, students, teachers, trainers, researchers, journalists, accountants and others, Microsoft Excel has become a staple of end users and business professionals.

The beauty of Excel is that it can be used as a receiver of workplace or business data, or as a calculator, a decision support tool, a data converter or even a display spreadsheet for information interpretation. Excel can create charts or graphs, operate in conjunction with mail merge functions, import data from the Internet, create concept maps, and organize important information sequentially.

Excel offers new data analysis and visualization tools that help analyze information, discover trends, and access information more easily than in the past. Using conditional formatting with rich data display schemes, you can assess and illustrate important trends and highlight exceptions with colorful patterns, data bars and icons.

In fact, Excel can be customized to perform a variety of tasks that most businesses cannot operate without. Excel training has become mandatory in many workplaces; In fact, computer software training is essential for any workplace trying to keep up with time.

Let’s say you’re an employer with 97 workers, 17 of whom called in sick today, and you want to know the percentage represented by absenteeism. Excel can do that. You can learn Excel and use it to rank each worker by male to female employee ratio, percentage of minorities in salary and compensation package amount, along with percentages of package by salary and benefits. You can use Excel to keep track of production by department, information that can help you with future development plans. You can create additional spreadsheets to track data on vendors and customers while maintaining a continuous inventory of product stock.

Let’s say you want to know your business product versus cost. You don’t have to be a math whiz – you just need to learn Excel. Excel allows you to input all the data, analyze it, sort it according to your customized format, and display the results with color, shading, background, icons and other tricks that help save time to find exactly the information you need later. If it’s for spreadsheet presentation purposes, Excel helps you put it together in such a visually appealing way that the data appears to pop and shine.

The most important thing an employer can do is learn Excel—it’s one of the most essential tools in the workplace.

Excel and Microsoft are trademarks of Microsoft Corporation, registered in the US and other countries. Lotus is a registered trademark of International Business Machines Corporation in the United States and/or other countries.

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