First of all we discuss about Spreadsheet program that is use for calculations. It provides work sheets to enter data. A worksheet is a collection of rows and columns. It always you to make different calculations using formulas and built-in functions. an other function, We can also display our data using charts and figures.
Application of spreadsheet:
Some important applications of spreadsheet program are as follows:
- It can use by corporations to track profit and losses
- Economists can generate growth graphs of country’s economy.
- Statisticians can calculate probability of crashing the market
- Women can manage their household begets.
Advantage & Benefits of Spreadsheet:
Computerized spreadsheets can calculate data easily, accurately and efficiently and also The large numbers can be added, subtracted, multiplied and divided. When new information is inserted in an existing spreadsheet, revised calculations are performed automatically.
- It increases the ease and speed of calculating.
- and It makes it easy to modify information and recalculate automatically.
- and It displays numeric data as a chart or graphs.
- It incorporates numeric data into another software application.
Following are the disadvantage of spreadsheet:
- Spreadsheet program cannot process a large volume of data quickly.
- It does not provide much programming facilities.
Difference between word processor and spreadsheet:
The Difference between word processor and spreadsheet is as follows:
The data in spreadsheet is inserted in worksheets.Spreadsheet is also use to create salary sheets, home budgets and balance sheet It provides many predefined functions to manipulate data. and It also provides the facility of recalculating data. The result changes automatic if the data is changed.
It provides a small number of predefined functions to manipulate data.It does not provide the facility of recalculating data.
|Word processor provides the facility to create and edit documents.||Spreadsheet provides the facility of calculation.|
|The data in word processor is inserted in documents.|
|It does not provide data analysis facility||It provides data analysis facility such as filter, subtotal, pivot table and auditing.|
|Conditional formatting is not available in word processors.||Spreadsheets provide the facility of conditional formatting. Format of data is changed when it meets a certain criteria.|
|Word processor I used to create letters, applications, memos and reports etc.|
Spreadsheets in Decision making:
A spreadsheet is very important tool for decision making. It can play a very vital and valuable role in making important decision. The importance of spreadsheets in making decisions can be described as follows:
- Decision making process required accurate data as input. Spreadsheets that is provide the facilities of data validation, templates fad formula auditing facilities to ensure that the data is accurate. In this way, spreadsheets help decision making process.
- Budgeting and forecasting are two important factors in decision making process. Spreadsheets provide the facility to manage financial data. Once spreadsheet is built, it can use under a variety of different circumstances.
- Decision making process requires data processing. Data is processe to produce information that may be important factor in critical decision. and All organizations maintain list of different types such as employees and customers etc. these lists can become very large and difficult to manage over time. Spreadsheets provide many features to manage these lists of data and turn them into information that decision. So Makers can use to make decision. Some important features are sorting, filtering, functions and pivot tables.
- Sometimes the decision maker may require hiding rows and columns in order to focus on specific data. Suppose a projected income statement shows sales for each month. The decision maker may want to see the total for the year. Spreadsheets provide the facility to hide the columns for the individual months prior to printing; moreover, auto filter feature can use to display only rows that meet certain criteria. It can help the decision making process.
So Most decision in organization typically involves money. This is Two very important financial functions I Excel are PMT and FV. PMT (payment) function calculates periodic payment on a loan. FV (Future Value) function determines future value of a series of periodic payments such as annual contributions to a retirement account. These functions can use with Goal seek command to enter desire end result such as the monthly payment on a car loan. It can then use to determine the input such as the price of the car to produce that result.