The use of spreadsheets is a common occurrence for most businesses. These spreadsheets are mostly used to store information through they also have a vital role in the day to day functioning of an office. We examine what makes spreadsheets so vital to the daily operations of a business.
It helps businesses model data
Spreadsheets are mainly used to model and store data. Even if you don’t work in an industry where data crunching is very important, spreadsheets can help you keep abreast of basic data figures like existing stock, sales, supplies, inventory, profits etc.
It helps businesses manipulate data
Unlike data presented through charts and graphs, data on a spreadsheet is very manipulation friendly. Say you’re making a presentation about the sales figures of your company for the last quarter and you want to tell your boss about how well or poorly the business might have done if the business generated via a particular supplier was added or excluded. Since a spreadsheet is loaded with presets, the numbers to correspond to the addition or subtraction of a given value would be calculated by the spreadsheet automatically, instead of you having to work on presenting those numbers through a new presentation.
It helps companies visualize plans and progress graphically
Like we mentioned before, spreadsheets make data manipulation very easy. Corresponding programs and software also help spreadsheets translate numbers into graphs easily which is vital to sharing progress reports with co-workers and bosses easily.
It helps make informed decisions
Spreadsheets help present the cold, hard facts about the business to the people who know how to read these numbers. Through data presented through spreadsheets, these decision makers can see what mistakes they have made in the past and what tweaks to the existing system of functioning they need to make to allow their business to become more profitable.