MSExcel Level III

Definition
Microsoft Excel is a spreadsheet editor developed by Microsoft for Windows, macOS, Android, iOS and iPadOS. It features calculation or computation capabilities, graphing tools, pivot tables, and a macro programming language called Visual Basic for Applications (VBA). Excel forms part of the Microsoft 365 suite of software. Microsoft Excel has the basic features of all spreadsheets, using a grid of cells arranged in numbered rows and letter-named columns to organize data manipulations like arithmetic operations. It has a battery of supplied functions to answer statistical, engineering, and financial needs. In addition, it can display data as line graphs, histograms and charts, and with a very limited three-dimensional graphical display. It allows sectioning of data to view its dependencies on various factors for different perspectives (using pivot tables and the scenario manager).

By organizing data using software like Excel, data analysts and other users can make information easier to view as data is added or changed. Excel contains a large number of boxes called cells that are ordered in rows and columns. Data is placed in these cells.

Using external data
Excel users can access external data sources via Microsoft Office features such as (for example) .odc connections built with the Office Data Connection file format. Excel files themselves may be updated using a Microsoft supplied ODBC driver.

Excel can accept data in real-time through several programming interfaces, which allow it to communicate with many data sources such as Bloomberg and Reuters (through add-ins such as Power Plus Pro).

DDE: “Dynamic Data Exchange” uses the message passing mechanism in Windows to allow data to flow between Excel and other applications. Although it is easy for users to create such links, programming such links reliably is so difficult that Microsoft, the creators of the system, officially refer to it as “the protocol from hell”. In spite of its many issues DDE remains the most common way for data to reach traders in financial markets.
Network DDE Extended the protocol to allow spreadsheets on different computers to exchange data. Starting with Windows Vista, Microsoft no longer supports the facility.
Real Time Data: RTD although in many ways technically superior to DDE, has been slow to gain acceptance, since it requires non-trivial programming skills, and when first released was neither adequately documented nor supported by the major data vendors.
Alternatively, Microsoft Query provides ODBC-based browsing within Microsoft Excel.

Export and migration of spreadsheets
Programmers have produced APIs to open Excel spreadsheets in a variety of applications and environments other than Microsoft Excel. These include opening Excel documents on the web using either ActiveX controls, or plugins like the Adobe Flash Player. The Apache POI opensource project provides Java libraries for reading and writing Excel spreadsheet files.

Common Excel use cases
Excel is most commonly used in business settings. For example, it is used in business analysis, human resource management, operations management and performance reporting. Excel uses a large collection of cells formatted to organize and manipulate data and solve mathematical functions. Users can arrange data in the spreadsheet using graphing tools, pivot tables and formulas. The spreadsheet application also has a macro programming language called Visual Basic for Applications.

Organizations use Microsoft Excel for the following:

• Collection and verification of business data;
• Business analysis;
• Data entry and storage;
• Data analysis;
• Performance reporting;
• Strategic analysis;
• Accounting and budgeting;
• Administrative and managerial management;
• Account management;
• Project management; and
• Office administration.

Excel terminology and components
Excel has its own terminology for its components, which new users may not immediately find understandable. Some of these terms and components include the following:

• Cell. A user enters data into a cell, which is the intersection of a column and row.
• Cell reference. This is the set of coordinates where a cell is located. Rows are horizontal and numbered whereas columns are vertical and assigned a letter.
• Active cell. This is the currently selected cell, outlined by a green box.
• Workbook. This is an Excel file that contains one or more worksheets.
• Worksheet. These are the different documents nested within a Workbook.
• Worksheet tab. These are the tabs at the bottom left of the spreadsheet.
• Column and row headings. These are the numbered and lettered cells located just outside of the columns and rows. Selecting a header highlights the entire row or column.
• Formula. Formulas are mathematical equations, cell references or functions that can be placed inside a cell to produce a value. Formulas must start with an equal “=” sign.
• Formula bar. This is the long input bar that is used to enter values or formulas in cells. It is located at the top of the worksheet, next to the “fx” label.
• Address bar. This bar located to the left of the formula bar shows the number and letter coordinates of an active cell.
• Filter. These are rules a user can employ to select what rows in a worksheet to display. This option is located on the top right of the home bar under “Sort & Filter.” An auto filter option can be selected to show rows that match specific values.
• AutoFill. This feature enables users to copy data to more than one cell automatically. With two or more cells in a series, a user can select both cells and drag the bottom right corner down to autofill the rest of the cells.
• AutoSum. This feature enables users to add multiple values. Users can select the cells they want to add and press the Alt and Equal keys. There is also a button to enable this feature on the top right of the home page, above “Fill” and to the left of “Sort & Filter.”
• PivotTable. This data summarization tool sorts and calculates data automatically. This is located under the insert tab on the far left.
• PivotChart. This chart acts as a visual aid to the PivotTable, providing graph representations of the data. It is located under the middle of the insert page, next to maps.
  Source data. This is the information that is used to create a PivotTable.