Microsoft Excel may very well be the most used business software on the market. It has broad applications, from simple data entry to complex problem solving, that are used to make important business decisions...
Microsoft estimates that 5 – 10% of Excel users are using the more complex features of the application to create business insights. So if you like problem solving, data analysis, and the idea of making some big bucks, you may want to study up and become an Excel power user.
If you understand how to use Excel and create valuable insights for your company, you will be a valued employee, and can expect to be compensated accordingly. While it would be pretty hard to become an Excel power user overnight, you can learn Excel with online courses. I hope that my Excel courses gives you a big help to a career you want.
Here are six careers that require heavy usage of the popular spreadsheet software:
Investment Banking Analyst
A career in investment banking is a guarantee of solid income potential for life. A large part of that is done in Microsoft Excel, where the analyst takes information from financial statements like the income statement and balance sheet and inserts them into transaction analysis, leveraged buyout, valuation, and discounted cash flow models.
Analysts also spend time using Excel graphing functions to insert graphical depictions of their models in Powerpoint decks and Word documents
Management consultants are hired by Fortune 500 companies for help with business strategy cost minimization, and revenue maximization. The first thing that is done is a comprehensive of analysis of the issue at hand and all of the data involved. There is substantial variation in each project so entry level consultants can be called upon to do anything from financial modelling to complex data analysis requiring regression analysis and segmentation of data using pivot tables. Just like banking, aspiring management consultants can expect long work hours
Accountants are always in demand. The range of duties performed by accountants is quite numerous. Entry level accounting positions are typically engaged in recording and auditing transactions, but things get more interesting for experienced accountants who are engaged in costing analysis and production of financial statements. Also there can be some interesting accounting jobs, like being a special agent for the IRS or a CFO. Everything an accountant does is to organize numbers in a spreadsheet.
Excel is a great tool for analyzing the results of market surveys and uncovering new opportunity. In terms of conveying value to customers as well as internal stakeholders, visual representation of benefit, such as charts and excels graphing functions are an ideal way for marketers to communicate internally and to customers. Finally, in online marketing, data is critical for areas like SEO or conversion optimization that boost a company’s marketability online
Business Intelligence Analyst
A business intelligence analyst is responsible for helping managers make informed business decisions, in order to sustain or improve a company’s competitive position. The analyst will process whatever past and present data is available and try to identify trends, strengths, and weaknesses. This role — analyzing business intelligence and turning that data into actionable decisions, is one of the most important new roles to business today.
In a nod to BI analysts and excel power users everywhere, Excel 2013 and later versions includes PowerPivot (an extension on the Pivot Table feature). The PowerPivot has strong application in business intelligence, the science of analyzing data to spot trends in business. This new feature has transformed excel into a programming platform that allows business intelligence professionals to sort through large amounts of data and find otherwise hidden trends.
Managers control budgets and resources and make sure projects get done on time. A manager is always controlling and planning various aspects of a business, from inventory and human capital, to resources and budgets, thus there is a lot that can be done in excel. Managers are likely to be engaged in all of the types of tasks listed above – financial modelling, data analysis, market analysis, and financial statement preparation — as well as project management, which covers resource, labor, and inventory tracking. Managers may just be the ultimate excel power user.
You can check also the interesting article from The wall street journal : The Key to a Good-Paying Job Is…Microsoft Excel?
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