excel essentials - mar10 vf3

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What I Wish I'd KnowExc

Does this sound like you?

"I've just been given the sales module of a case and have to sort through and analyze sales data. Theremust be a simple way to do this in Excel, but I dont know how. What shortcuts or tools will make my life

easier?"

Excel is a key tool used for analysis within BCG. It is a powerful spreadsheet program that helps to store,

structure, and make sense out of data. However, you must know its essential functions and tools to getthe most out of the program. Read on for the top 12 tools and functions every A/C should know.

What I wish I'd known... Excel EssentialsTrainings and tips for As and Cs

Note: Modeling in Excel will be covered in an upcoming"What I Wish I'd Known" newsletter


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Status tracking with traffic light coloring (e.g. overdue

actions turn red)

Highlighting outliers in large data sheets

Transposition of data

Copying a format (without the value) Cleaning up data (e.g. combining first and last names,

splitting up dates, etc) Separating data in string format (e.g. article numbers

that are composed of several parts)

Quick sorting and filtering of lists according to criteria(e.g. specific values, ascending order)

Transformation of lists into interactive tables

Counting/Summing/Filtering/Averaging of data

Counting/Summing all entries in a list

Determination of average for sub-groups

Comparison of data in different lists

Finding identical data in lists

To combine data from two sets that share a unique key

Including conditions within functions

Highlighting data that meets certain criteria (e.g. >10) Combination with If allows you to ignore errors when

applying functions to lists

Counting/Summing data according to criteria

Calculating sum of product of corresponding values

Solving of allocation or logistics problems Price calculation to achieve determined revenue

Top 12 functions and toolsSummary of must-know functions and tools for the day-to-day consulting practice

Type

Format data

Manipulate

data

Sort data

Search

Data

Conditions

& formulas

Functions/Tools

1. Conditional

formatting

2. Paste special

3. Concatenate, Text

to Columns

4. Left, Right, and

Mid

5. AutoFilter

6. Pivot Tables

7. Subtotal

8. V-LookUp,

H-LookUp, Index

and Match

9. If

10.IsError

11.Countif, Sumif

and Sumproduct

12.Solver

Description

Allows for the automatic formatting of

cells based on pre-defined conditions

Integrate multiple steps within one

(pasting) activityCombine two+ cells into one and split

single cells into severalExtract parts of a string in a cell

Sort and filter lists

Summarize homogeneous sets of data

in cross tablesGroup data in subsets to visualize

different detail levels

Search lists for specified pieces of data

Tests whether data meets various

conditionsApplies functions throughout tables

despite incompleteness or errors

Combine basic operations with

conditions and each other

Optimize business models bymaximizing/ minimizing a cell value

Examples of use


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Conditional FormattingAutomatically formats cells (e.g. color, font, size) based on pre-defined conditions

Cells will take on specifiedformats based on up to threeconditions

Examples of use include: Highlighting outliers (e.g. cell

values above X) Hide errors (e.g. when

formula =ISERROR) Hide or highlight duplicate

values

What it's used for

ExampleWhere to find it

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Paste SpecialCopy and paste specified cell contents (e.g. cell format, result of a formula, only formula)

This cell hasbeen

formatted.

This cell only containsthe number 200,

without any formatting.

The formattingwas copied, but

the value has notbeen changed.

To switch data from horizontalto vertical or vice-versa, findpaste area, and paste using

Transposeoption.

Paste special offers a lot of versatility; we encourage youto explore the various options of this function

Paste special allows you to cleanup data in various ways, including: Pasting formatted data Pasting only formulas, not data Transposing data (e.g. switching

from vertical lines to horizontalrows)

Where to find it

What it's used for

Example

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Concatenate Text to columns

Concatenate and Text to ColumnsCombine two or more cells into one and split single cells into several

Concatenate combines the data in one or more cells

in one cell. Sample uses include: Merging names (first and surname) Merging dates (date, month, year)

Instead of Concatenate can also use "&"

=CONCATENATE(cell1,cell2) =cell1cell2

How to do it

What it's used for

Example

Where to find it

What it's used for

Example

1. Highlight relevant data2. Click on "Text to

Columns" from the"Data" menu

3. Choose Delimited(specific charactersmark cell breaks) orFixed Width (numberof characters mark cellbreaks)

Text to Columns splits the data in one cell into severalcells. Sample uses include:

Splitting up names (first and surname) Splitting up addresses (city, state, and country)

Instead of Concatenate one can use "&"

Example

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What I Wish I'd Know




If you type... You'll get this...

Left, Right and MidTo extract parts of a string in a cell

=LEFT (Cell;# positions on the left-hand side )

=RIGHT (Cell;# positions on the right-hand side)

=MID (Cell;starting position;length)

=LEFT (A9;3) 123=RIGHT (A9;2) 4F=MID (A9;5;2) MB

Left/Right/Mid functions are the dynamic version of the"Text to Column" tool

How to do it

What it's used for

Example

Left, Right, and Mid allow you toextract components of a string ofdata within a cell

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What I Wish I d KnowExc

AutoFilterTo sort and filter lists

Autofilter allows you to sort tables of data in several ways: Ascending (e.g. numerical order or alphabetical) Descending Filtering by a certain value (e.g. selection of all rows

with London as Location) Custom filtering (e.g. all rows except for those where

Location is Munich)

Drop-down arrow of filtered column turns blue to indicatefiltering action

Where to find it

What it's used for

Example

AutoFilter for the itemswhich have London as

Location

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Pivot TablesTo summarize homogeneous sets of data in cross tables

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Pivot Table is an interactive table that allows youto quickly summarize large amounts of data bydragging and dropping items. Functionalitiesinclude:

Automatically counting and summingspecific components of data (e.g. number ofitems located in London)

Creating a cross tab (e.g. summing howmany items by category are sold in eachlocation)

Where to find it

What it's used for

ExampleUse the Pivot Table Wizardto easily generate a Pivot

Table:

1. Select Pivot Table Wizardunder Data

2. Specify data source3. Select data range4. Define Pivot Table location5. Select Pivot Table layout6. Select intended function

(here: Sumof Sales)7. Re-arrange the table's fields

trough drag-and-drop

activities

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Note: For pivot tables to work effectively and without errors, it is important for the data to be in a standard format. E.g. "London" is different from "London_" (with a space).

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SubtotalTo group data in subsets to visualize different detail levels

1

2

3

Use subtotals to calculate thetotal sales of different items bycity

1. Select sub-group field2. Define use function3. Select data for summary

support

1

2

3

Note: Using Subtotal might make some follow-on applications like Pivot Tables more difficult. So it might be wise to use the Subtotal function within the Pivot Table function in certain cases.

Where to find it Example

What it's used for

Subtotals allows you to subtotal onecolumn of numbers, based on a change inanother column.

Functions include sum, count, average, etc.

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V-LookUp, H-LookUp, Index and MatchTo navigate through and work with lists

Function Description

Get the value from a specific table cell providing another value as reference/index Column given as input (column_index_num) Row will be the one with the reference value defined in the table's first column (and specified by the

user in the lookup_value_1st_col input variable) =VLookUp (lookup_value_1st_col, table_array, column_index_num)

VLookUp

Get the value from a specific table cell providing another value as reference/index Column will be the one with the reference value defined in the table's first row (and specified by the

user in the lookup_value_1st_row input variable)

Row given as input (row_index_num) =HLookUp (lookup_value_1st_row,table_array,row_index_num)

HLookUp

The Index function returns the value from within a table or range. Returning a value: =Index (array, row_num, column_num)

Index

The Match function searches for a value in an array and returns therelative position of that item.

=Match (lookup_value, array, match_type)Match

=Index (A1:D5, 2, 3) returns:$3.50

=Match (10572, A2:A5, 1 )returns: 3

match_type: 1 (default): largest value that is less

than or equal to value 0: first value that is equal to value -1: smallest value that is greater than

or equal to value

Index function can also return thereference to a value from a table or range:

=Index (reference, row_number,column_number, area_number)

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VLookUp automatically retrieves a value based on a providedreference cell

Searches for a value in the left-most column of table_array and returnsthe value in the same row based on the index_number

You provide the value/item that you have (lookup_value), the table whererelevant data can be found (table_array), and the distance - in columns- of

the value/item you want from the table (col_index_number) Once VLookUp has found the amount containing "lookup_value", it willreturn the value in the "col_index_number column" row of the table

Note: Data must be in ascending order Always "lock" the table array

VLookUpExample of basic VLookUp application

=VLookUp(lookup_value,table_array,col_index_num,true/false)

How to do it

What it's used for

Example

The value/item tosearch for in thefirst column of thetable array

The range of data(table), two ormore columns, inascending order

Make sure to"lock" with F4

The distanceof the data tobe found, incolumns(lookup_valuecolumn is 1)

Use "False" foronly exactmatches forlookup_value;use "true" forapprox. match

Fill in a list of countries (column E) using areference table (highlighted in grey)

Saves time instead of re-typing eachentry

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HLookUpExample of basic HLookUp application

Searching for the value associatedwith Column 3 (lookup_val) in1994 (row_index_number = 6)

from the table array of A1:C7

How to do it

Example

What it's used for

=HLookUp(lookup_value,table_array,row_index_num,true/false)

The value/item tosearch for in thefirst column of thetable array

The range of data(table), two ormore columns, inascending order

Make sure to"lock" with F4

The distanceof the data tobe found, incolumns(lookup_valuecolumn is 1)

Use "False" foronly exactmatches forlookup_value;use "true" forapprox. match

HLookUp works the same way asVLookUp, except that it searches the toprow of the table for "lookup_value".

HLookUp then moves down"row_index_num" of rows and returns thatvalue.

Note that all of the entries in the top row needto be in increasing order from left to right

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IfTests to see whether a certain condition is true or false

=If (logical_test,value_if_true,value_if_false) Search items with sales greater than 10 for theirgiven trial month

Return "Yes" if sales are greater than 10, and"No" if they are less

Can use results to sort items afterwards

How to do it

What it's used for

Example

Tests to see whether a certain condition is true orfalse

Example: test whether a salesperson's sales areincreasing or decreasing from month to month =If(sales_Feb>sales_Jan,"going_up","going_down")

Something thatreturns either trueor false.

Functions thatreturn true orfalse include >,

=,


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IsError, used with IfApplying functions throughout a table despite of incompleteness or existing errors

To figure out a price per unit of a givenshopping list, without any calculation errors

How to do it

What it's used for

Example

Use IsError to check for error values If value is an error value (#N/A, #VALUE!, #REF!,

#DIV/0!, #NUM!, #NAME? or #NULL), this functionwill return TRUE Otherwise, it will return FALSE

If a function returns false, can use IsError incombination with If to provide an alternative value tothe cell

Without that, you cannot use the data in that cell forany further calculations

Note: You cannot make cells condition-sensitive inExcel any other way!

=IsError (value)

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Countif, Sumif and SumproductIncluding conditions within basic operations

=Countif(array,condition)

=Sumif (searched array,condition,corresponding array)

=Sumproduct(array,array)

Example: Count the number of"A"s in a defined array.

Instead of naming "A" you couldeasily refer to a cell with acondition or define a conditionwithin the function.

The data in thiscolumn is filteredaccording to thedefined criteria("Paris").

The data in thiscolumn is added upfor all rows where thecriteria in column B ismatched.

Function returns the sumof the product ofcorresponding numericvalues of defined arrays.

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SolverTo optimize business models by maximizing or minimizing a cell value

Target value to bedetermined

Target cell to bedefined

Can changeseveral cells (C12and/or C13)

Possibility to defineseveral conditions.

Note: If the purpose is to get the solution for a set of equations (without optimization), the user can apply directly the GoalSeek function (Menu Tools/Goal Seek ...).

Where to find it

Example

What it's used for

The Solver function allows you to minimize ormaximize a cell value

Do this by adjusting various cell values within thefunction

Example: Maximizing Earnings/Profit (cell C18) Can adjust Sales Quantity and/or Marginal Return per

piece Can set constraints as well (e.g. need a marginal

return per piece greater than or equal to 0.6)

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Shortcuts for navigation (I)To enhance your working speed

HOME

CTRL + HOME/END

CTRL + PAGE UP/ PAGEDOWN

CTRL + Shift + Home

CTRL + , , ,

CTRL + Shift + End

SHIFT/CTRL/'SHIFT + CTRL' + drag

Selects the cell within the first row/last column/last row/first column (keeping theoriginal column/row)

Places the 'active cell' in column A (keeping the original row)

Moves 'active cell' to A1/to last activated row and last activated column

Activates previous/following spreadsheet

Selects to end of the worksheet

Selects to beginning of worksheet

Moves/Copies cells to different position, either maintaining or not the original cells or even adjustingdata in original source (row or column)

Shortcuts Function



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Shortcuts for navigation (II)To enhance your working speed

F2

CTRL + +

CTRL + '

CTRL + CCTRL + V

Shift + F3

CTRL + `

Copies (C) marked content to the clipboard and pastes (V) it where needed

Goes to Edit-Cell mode

Displays the INSERT dialog box to insert blank cells

Displays the Function Wizard

Copy formula from cell above

Alternates between displaying cell values and displaying formulas in the worksheet

Shortcuts Function

CTRL + Shift + AInserts function components after having entered a function

CTRL + Shift + "Copy value from cell above



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Excel vs. AccessSome practical hints on when Access could be a smart alternative

In both Excel and Access you can:

Run queries to sort and filter your data

Run sophisticated calculations

Use Pivot Tables to work with your data interactively

Import data from external databases

Key to the decision: Is your data relational or not?

If you can store your data logically (i.e., the data in each column is directly related) in a singletable or worksheet, then do it in Excel

Still, when you have several tens of thousands of data rows, you may want to switch toAccess to maintain processing speed

If you have one-to-many relationships in your data, then you require a relational database likeAccess

Rule of thumb: The more data you have, the easier it is tostore in multiple tables in Access

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