Most, if not every company, uses Microsoft Excel as a method for controlling data as it is an excellent tool for performing calculations, creating tables, drawing graphs and comparing data-sets. However, more and more companies are starting to actively move away from using Excel and starting to use specialist analytical software.
Why is this and what is the benefit?
The first reason is that the new software can do more complex calculations more easily and at a faster rate. This means that time is saved on calculations involving large data-sets.
The second reason is that better and more interactive visualizations can be produced. In many analytical software’s you can breakdown graphs and charts by a metric and change the breakdown in a matter of seconds. You can also click into the graphs and charts to see what that bit of data consists of. You can also easily create multiple types of visualizations on a single page to create a dashboard that can be very helpful. This ease of using visualizations means that patterns and trends can be spotted easily and then used to maximize efficiency and reduce costs.
The third reason is probably the most important which is that Excel files start to run slowly and keep crashing when they are too big. When using specialist software the files can be much bigger and they don’t get slower. This means that huge amounts of data can be stored and manipulated with the risk of data loss considerably reduced.
The reasons above are the main reasons why people are moving from Excel to more specialist software. There are other reasons however those are the main ones.
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Below are links a some other websites that also talk about the pros and cons of using Excel compared with other specialist analytical software.