When it comes to business productivity, the Microsoft Office suite is one of the most in-demand software solutions on the market. A recent article from Microsoft lays out several major benefits that companies have been able to reap because of Excel.

“Microsoft Excel gives businesses the tools they need to make the most of their data,” the article reads. “And when it comes to making the most of resources, and maximizing return on investment, this is becoming increasingly important. Firms are collecting ever-greater volumes of data from multiple sources, including in-store-transactions, online sales and social media. They need to be able to collate and analyze this information quickly and effectively.”

The piece goes on to address how Excel can help a business succeed.

The Top 5 ways that Excel can contribute to success

1. Formulas & Chart Building – Unlocking the potential of data through the use of formulas is a key component to Excel. With proper planning, data can be sorted and filtered with the click of a button and converted to charts, graphs and clustered columns.
2. Conditional Formatting – Excel’s powerful conditional formatting tool automatically formats data based on a set of user-defined rules, allowing the user to more easily view and analyze data without spending time on formatting.
3. Trend Identification – Excel makes it easy to identify trends in data, allowing companies to better understand trend data as it relates to their industry and within their own organization.
4. Data Consolidation – Organizations can consolidate multiple projects by bring all data into a singular platform.
5. Online Data Access – Through the Microsoft Office 365 productivity suite, organizations can easily access information through mobile devices and the cloud.

With the help of an Excel consulting firm, any organization can take steps to successfully deploying these solutions.