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Ways to Use Microsoft Excel as a Tool for Managers

Ways to Use Microsoft Excel as a Tool for Managers thumbnail
Managers use Excel to help control costs.

Microsoft Excel helps companies keep track of their financial data. Managers are often responsible for their departmental budgets. Excel can summarize and itemize spending patterns and aid the manager in saving money.

  1. Communication

    • Link Excel spreadsheets across various departments. An Excel spreadsheet in Human Resources about training costs can be linked to an Excel spreadsheet in Marketing that also has training data. When the Marketing spreadsheet is updated, the HR spreadsheet will also update. By linking the two spreadsheets, data is kept updated and the two departments can communicate effectively and quickly with the least amount of confusion.

    Data Analysis

    • Use Excel tools such as PivotTables, charts/graphs and automatic formulas to quickly analyze data. Excel has built-in tools that permit the manager to forecast, isolate trends and display a large amount of information.

    Integration

    • Excel spreadsheets can be easily integrated into other software. Export data from an enterprise resource system into an Excel spreadsheet or import Excel data into other software. For example, Excel spreadsheets can be imported into a database, or data analysis systems can export their data into Excel. Excel can help managers transfer data between systems quickly.

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  • Photo Credit Bearded manager image by Mykola Velychko from Fotolia.com

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