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Excel and data processing are like best friends. The most prominent usage of Excel is for storing, maintaining and processing data. Excel makes it easier to find data with the help of certain add-ins, process data using tables, functions and formulas, and even process data to come to valuable conclusions.
Here are five add-ins in Excel that make data processing a much more efficient task for you.
Quandl- To Find Data
Quandl is a platform with millions of financial and economic data sets from sources worldwide. It is installed to find numerical data over the internet easily. It lets you search, find and download data from within Excel. It also provides easy uploading, editing, and maintaining data over the quandl-coloured web. It is free of charge, and unlimited usage is allowed without restrictions.
FRED-To Find Data
The FRED add-in in Excel allows you to access over 380,000 data series from credible sources. It helps reduce the time and effort you might spend collecting data, cleaning it, analyzing and making further progress. It makes it easy to directly access international economic data, world health data, etc., in Excel.
Random Generator - To create data
The random generator add-in in Excel is used to fill desired cells with random numbers, dates and values. Although we have a rand function to create random numbers, this add-in creates dummy data. You are done by setting up the Add-in and selecting the cells you want to populate with random data. You can use this data as mock data to practise various formulas and functions of Excel.
Power Pivot - To analyze data
A power pivot is a free Excel add-in used to perform data analysis in Excel. Power pivot can process large data sets in microseconds regardless of the source. It can not be enabled by default in Excel; you need to add it to the ribbon by going to the office options. The power pivot is just like a more advanced version of pivot tables in Excel.
Analysis toolpak- To analyze data
The analysis toolpak is another helpful tool in Excel. It provides tools for working on statistical and engineering problems. By just providing the input parameters, you can get the results for one of the most challenging problems, such as regression analysis, descriptive statistical analysis, etc. Many times, the results are generated with visuals for better clarity. One can not enable it by default in Excel; you need to add it to the ribbon by going to the office options.
Despite millions of uses, Excel is used most to store and manage data. Although the functions in Excel thoroughly assist the data processors, a few add-ins can be installed to make the data processing work easier, save time, and be fun. Try using the 5 Add-ins in Excel to find, process and analyze your data. In the comments section, let us know how each one helped you and your work.
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