Accounting, marketing and management consultant firms commonly rely on Microsoft Excel to perform functions related to their industry of expertise, says Brad Zomick of SkilledUp. Investment banking and business intelligence analysts also use the program to amalgamate and scrutinize data. Microsoft Excel is a basic application included in the Microsoft Office Suite of desktop programs and is an extremely popular resource among a variety of business professionals.
As Kathy Burns-Millyard from the Houston Chronicle explains, Microsoft Excel is frequently used in small businesses to perform functions related to accounting, scheduling, storing customer information and monitoring business performance. Excel is a diverse program capable of executing a vast number of operations in a manner that lends its users more control than specialized programs intended to serve particular business objectives. For example, rather than purchase expensive computer software designed to manage payroll, deposits and expenditures information, a small business can pattern files within Excel to serve the same purpose. Excel is capable of interpreting sets of data and organizing them into informative graphs and charts that help a business owner analyze a company's financial health and sales performance. There are also functions available within Excel that can use existing data to portray a company's future earnings potential and alert a business owner to possible obstacles or opportunities for growth before they occur.