Direct answer: analyse data in Excel by following a repeatable workflow: define the question, prepare the data, summarise with pivots and formulas, test with simple statistics, and present with charts.
1. Define the question
“Why did gross margin fall in Q3?” is analysable. “Analyse sales” is not. Write down the metric, the comparison and the decision.
2. Prepare the data
Use Tables, remove duplicates, fix data types and standardise categories. For recurring files, use Power Query.
3. Summarise
Build pivots by time, product and region. Use SUMIFS where you need a formula-driven report. Pivot guide.
4. Test
Compare mean and median to spot skew, use percentiles to find outliers, and CORREL for relationships. Remember correlation is not cause.
5. Present
Choose one chart per message and state the finding in the title.
Common mistakes
- Reporting averages without checking distribution
- Analysing before checking totals against the source
- Charts without a stated takeaway
When to move to Power BI
When you need multiple related tables, very large data or shared interactive reports. See Excel vs Power BI and Power BI for data analysis.
Conclusion
The tools matter less than the workflow. Practise it with the Excel data analysis course.
Frequently asked questions
Is Excel enough for data analysis?
For small and medium data, yes. For multi-table or very large data, Power BI is usually better.