Microsoft Excel – A Detailed Review in 2024

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Making sense of large, complex data sets can be tough, but having the right tool makes a world of difference. Microsoft Excel really stands out in this area, empowering users across industries from finance and accounting to academia and data science. In this review, we’ll explore what Excel brings to the table with its versatile features.

We’ll also address some common challenges users encounter, from Excel’s intimidating interface to its plethora of functions and formulas, which can sometimes be difficult to decipher. By the end of this review, you will have a comprehensive understanding of Excel’s capabilities. Let’s get started.

Excel Pros And Cons

Excel’s strengths certainly outweigh its weaknesses. Let’s take a quick look at what draws its users in and where we think it can be improved.

What is Excel?

Designed initially for Macs, it gave Mac users a leg up when it came to spreadsheet software. Two years later, in 1987, Microsoft decided to release it for Windows machines, dramatically increasing the user base.

Fast-forward to today. Excel is by far the best spreadsheet software, thanks to over 400 distinct operations. It can be used for simple household budgetkeeping and small business accounting.

Furthermore, it’s easily among the best accounting software on the market. The only caveat is its steep learning curve. Having said that, there are loads of resources online to help you build your skills.

Is Microsoft Excel a Good Tool

Yes, Excel is an excellent tool. It’s easily the most versatile data manipulation and management tool on the market today, and with over thirty years of updates under its belt, it just gets better and better.

In fact, it’s so versatile that even experienced users have only scratched the surface and what this tool can accomplish.

Excel Key Features – What’s Included?

Excel has a wide range of features that give you power over your data, from data processing to analytics and even macros. Let’s see what these features can do.

Data Processing

As we mentioned before, Excel is an excellent tool for processing data sets. You enter data in the form of numbers, text, and even graphics. Excel can handle over 17 billion cells, making it the go-to tool for large data sets compared to competitors like Google Sheets, which can only manage around 5 million cells.

Having said that, the larger your data set, the more your machine’s performance will be affected. It’s advised that you use a powerful machine when processing large data sets.

Analytics

Various tools are available that make data analysis easier than ever. These tools include sorting, filtering, and conditional formatting, among others.

This allows users to manipulate and analyze data efficiently while more advanced features like What-If Analysis, Goal Seeking, and Solver empower you to perform more complex data analysis and modeling tasks.

We used these tools to analyze a demo data set. While we were able to perform simple data analytics, the more advanced features required some research to use effectively. We were very happy to see that it’s easy to find these resources. There is even a help section on the banner situated at the top of the chart.

Macros

Excel allows you to record a sequence of actions or commands to automate repetitive tasks. These include formatting cells, entering data, and performing calculations for more advanced tasks such as generating reports and integrating with other applications.

These macros are created using a programming language that’s been baked into Excel called Visual Basic for Applications (VBA), which allows you to create custom scripts. This is an excellent feature, as we thought it had the potential to save loads of time. However, this is a more advanced feature of Excel, so it takes some getting used to.

Data Visualization

Excel has various tools that can help you visualize data. This is perfect for performing presentations and for getting a better understanding of large data sets. These tools include various chart types like pie charts, line graphs, scatter plots, and a whole host of others.

Features like this not only make Excel great for data management but also an excellent tool for project management, as these are important features you want to see in project management tools.

Using these charts can enhance the clarity of your data sets, which can lead to better understanding and deeper insights. We really enjoyed the sheer number of customization options, which allowed us to create professional-looking visualizations.

Inventory Tracking

By using formulas and calculations correctly, you can create an effective inventory tracking system for your business.

Conditional formatting could be implemented for visual alerts when stock levels are low. For those who are still learning, you can choose from a range of pre-built templates with built-in functions ready to go. For those with more experience, you can create a custom sheet that suits your business’s specific needs.

We dabbled with a warehouse inventory template, which gave us information regarding in-stock items, items on order, items that need re-ordering, and even discontinued items. While it may take a while to populate these sheets, once they’re set up, they’re easy to manage.

Budgeting

Creating or keeping track of a budget is one of Excel’s best use cases. With a variety of templates to choose from, each designed to cater to diverse budgeting needs, it’s easy to see why Excel is the go-to tool for budgeting.

What’s nice is that, unlike other budgeting apps, Excel provides complete flexibility, giving you the chance to create countless categories for a much more detailed budget.

Manually recording your expenses allows you to really understand where your money goes every month. In other words, while it may feel tedious now and again, ‌you will gain a heightened awareness of your spending.

Collaboration

You can easily collaborate with your colleagues who also use Excel. By hitting the share button, you can insert an email address, and Excel will directly email any collaborators, giving you the ability to work on a spreadsheet simultaneously. This allows you to not only share data but also track any changes and communicate effectively.

Depending on the permissions you give to collaborators, they will be able to view the worksheet, edit it, or simply make comments. Conveniently, you can make notes directing them on what they should be looking at.

For example, if you’ve made a budget and included some calculations, you can highlight specific cells or rows of data, which they will be able to see in real-time, indicating that this is where their attention should be.

Furthermore, you can protect them by setting an expiration date on their access and even setting up a password.

Integrations

Integration refers to Excel’s ability to work seamlessly with other software applications, platforms, and data sources. This enhances Excel’s functionality and expands its capabilities.

Excel supports integrations with other Microsoft tools, including Word, PowerPoint, Outlook, and Access. You can easily copy and paste information between Excel and other office applications, embed Excel charts and tables in Word documents and PowerPoint presentations, and even send spreadsheets as email attachments directly from Outlook.

Excel Pricing – Is it Affordable?

Excel can be purchased as a standalone product; however, for the best value, it’s better to get the full Microsoft 365 package which includes everything Microsoft has to offer.

If you decide to purchase the stand-alone Excel license as a one-time purchase, you will be required to pay upfront, and there are no subscription fees to worry about. However, with this option, there are no upgrades available. This means if you want to upgrade to the next major release, you will need to repurchase it at the full price.

Alternatively, if you opt for the Microsoft 365 subscription plan, you will get access to any new updates made to the products. What’s nice is that you can try Microsoft 365 for a month for free before you make any financial commitments.

You can also use the online version of Excel, which is completely free. The only requirement is a valid Microsoft account, which can also be created at no extra cost. The subscription cost goes up if you’d like the family package.

When compared to other spreadsheet tools like Google Sheets, you’ll find that Excel has more features on offer. For example, there are more data visualization tools, charts, and graphs with Excel. However, Google Sheets is a free tool which is a benefit.

Excel Interface – Is it Easy To Use?

Excel’s main interface consists of simple cells that form a collection of rows and columns. It essentially looks like a large table divided into smaller cells or blocks. Although it may look intimidating at first, the beauty of Excel is that it can be as easy or as complex as you need it to be.

Excel has hundreds of tools and features, which could be pretty overwhelming in the beginning. However, if you spend a few hours working with its core functionality, you should be able to pick up the basics.

Having said that, if you are unsure of where to start, there’s an interactive ‘Getting Started’ tour that you can take. This tour will show you around, giving you an indication of where the different tools are and what you can do with them.

It will even show you how to create your first formula, PivotTables, and charts. If you have no experience or need a refresher, this is probably the best place to start.

For those on the move, you’ll be happy to know that you can work on Excel via your mobile device. Excel has apps for both iOS and Android, and they empower you to create and edit your spreadsheets on the fly.

The downside to this is that depending on your device, you might find it difficult to work effectively on your spreadsheets, however, if you have a stylus, this makes this a lot easier.

Can You Use Google Sheets For Accounting?

Yes, Google Sheets is a spreadsheet program for creating and maintaining financial records. It’s equipped with many features similar to those in Excel. For example, it has functions and formulas, data visualization tools, and the ability to integrate with a number of other platforms, like Zapier and even Sage accounting.

Better still – Google Sheets is free for a single user just looking to keep track of their spending. However, if you have a small business, it will cost you $12 per user per month.

Similar to Excel, you can automate certain repetitive tasks by creating macros. All you need to do is hit ‘Record Macro’ under the Extensions tab. Macros can be set to run based on specific actions, such as calendar updates, time intervals, and even a chosen date.

Google Sheets is a good alternative to Microsoft Excel; however, the latter has been around far longer. Excel allows for more data to be analyzed, offers more statistical tests and functions, and is generally better for more complex data analyses.

Another excellent alternative to Excel is Smartsheet. Our experts have reviewed Smartsheet in depth so you can make an informed decision.

Excel Reviews – What Are People Saying?

Excel has a great reputation with many users saying that it’s the best spreadsheet software on the market. Our experience with this software reflects user reviews from trusted sources like G2 and Reddit. Its only caveat is its steep learning curve.

During our testing, we found that while entering data is simple enough, we only scratched the surface of what Excel can accomplish. Our time with it was brief; however, many users say they can’t get through a day without using Excel.

Excel is not just a powerful data manipulation tool. It’s also a massive time saver. If you’ve set up your workbooks correctly, it can accomplish tasks in mere minutes that would normally take hours.

Having said that, you might find it difficult to use, especially as a beginner. Luckily, there are ample resources online that can help you discover your way. We would highly recommend that you spend some time learning how to use Excel before taking on big projects.

Overall, Excel is an excellent tool. It may be challenging to learn, and some users say its interface is dated. However, if you become proficient in its uses, you’ll have gained a skill that can save you time. Its functionality is mind-blowing, and it can accomplish a whole lot for you or your business.

Why You Can Trust Our Excel Review

The goal of this review is to give you unbiased insights into Microsoft Excel. We achieve this by conducting thorough research and in-depth testing over a set period of time.

During our testing, we worked with the different formulas and tried our hand at creating macros which gets easier the more you do it. We loved how it can be used to automate tasks like changing the formatting of individual cells when certain criteria are met. This takes away some of the repetitiveness you can experience.

We also tried the mobile versions for Android and iOS for a more well-rounded experience. While Excel for Mobile is powerful enough, it can be cumbersome at times, and the best experience is certainly on a computer.

To supplement our testing, we looked at other user reviews and compared them to other accounting software. This gives us a good indication of what to look for during our testing, allowing us to easily compare the best accounting software and see which one stands out.

How To Use Excel – A Step-By-Step Guide

If you own a computer, you will more than likely have access to Excel. For those with a Microsoft account, you can use the online version of Excel for free, which is always a bonus. In this step-by-step guide, we will look at how to install Excel and some basic functionality.

Step 1 — Navigate to www.office.com

If you have a Microsoft account, you can simply log in with your credentials. Alternatively, you can create a free account.

Step 2 — Open the Program

Once you’ve created an account or logged in, you will be redirected the the Microsoft 365 launch page. Here you will have access to all of Microsoft 365 products.

Step 3 – Select Excel

Navigate to the left column and select Excel. Here, you can select a blank workbook to open a new document. Alternatively, you can select ‘see more templates’ to browse the different pre-made templates available.

Step 4 — Explore Interface

When you open a blank workbook, you’ll be greeted with a page that looks like the image below. You can begin to enter data such as numbers or text in the individual cells. If you navigate to the help tab, you can access a list of functions and even some keyboard shortcuts.

Furthermore, there is a tutorial section that covers everything you need to know about Excel. This is generally the best place to start learning Excel, and we highly recommend using it.

Excel Windows Review – The Verdict

Excel is a very useful tool when it comes to accounting and other tasks that require in-depth analysis. Our experience has shown us that the sheer number of use cases for this application spans everything from education, accounting, and budget keeping to data science.

It’s a tough application to learn, however, once you’ve learned the basics, you’ll want to learn more of what it has to offer. And with a plethora of resources online, you won’t need to fork over your hard-earned money in order to learn how to use it.

Furthermore, it can be used for free if you have a Microsoft account, and it can be easily installed on a mobile device. However, if you plan on using it on a mobile, we would recommend a tablet or something with a larger screen, as it can be cumbersome at times.

Overall, Excel is a brilliant tool for completing accounting requirements or preparing a household budget.

While accounting software has evolved over the years, Excel has remained one of the best platforms for your accounting needs.

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