Excel Pro is one of the best tools to analyze big amounts of data in Excel. It has a ton of useful functions that can help anyone manipulate and organize their data efficiently. However easy Excel may be, it contains a lot of nifty functions, and it’s easy to get lost.
Excel is a particularly important course curriculum in chartered financial analyst courses or any of the financial modeling courses online.
This article answers your general queries like what is financial modelling, the advantages of financial modeling courses, and tricks to become an Excel Pro.
What is Financial Modelling?
Financial modeling is the procedure in which a summary is created of the company’s earnings and expenditures in the form of a spreadsheet or Excel. This spreadsheet can be used to evaluate the effect of any future decision or event on the company.
A financial model can be used by chartered financial analysts to perform SWOT analysis and analyze and anticipate the company’s stock performance by executive decisions and any future events. Financial Modelling can be better learned by taking financial modeling courses.
Advantages of becoming an Excel Pro
There are many benefits of learning Excel Pro; it will-
- Sharpen your skillset
- Improve your efficiency and productivity
- Make you better at organizing data and doing a SWOT analysis
- Increase your value at the company as a chartered financial analyst
- Make your job easier
Tips and Tricks to Become an Excel Pro
Here are some tips and tricks that can be used in Excel to become a pro in no time-
- Pivot Tables-A versatile feature, you can use them to total, average, sort, or count data stored in any large spreadsheet and cut and display them in a new table in the way you want.
- Flash Fill-It analyzes the data being entered and automatically starts filling up information when it finds a pattern.
- Filters-Filtering efficiently hides data and information that is of no use to you.
- Conditional Formatting-It changes the color and contents of a cell on certain conditions being fulfilled.
- COUNTIF-It will help you count cells with certain specific properties.
- Charts-You can learn how to use more than 20 types of charts. Example- Pie chart, Line chart, Scatter chart, Bar chart, Column chart, etc.
- SUMIF-Similar to COUNTIF, it will help you sum up the cells with specific properties.
- IFERROR-It will help you enclose any formula in IFERROR and remove or avoid errors like #####, #REF!, #VALUE!, etc.
- Slicers-It shows and hides specific data as required by offering big friendly buttons, tell the current filtering state, and helps keep an eye on the PivotTable reports.
- Power Pivots-It connects your PivotTable with external databases and can be refreshed by a prompt. This helps in processing much larger datasets.
- Sparkline-It is a tiny, small chart in a worksheet cell that gives a visual portrayal of the selected data.
If you want to learn more such tricks and want to become an Excel pro in no time, financial modeling courses will help you. You can opt for a chartered financial analyst course like Financial Analysis Prodegree and become a pro by learning from the best.