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Application Areas of Spreadsheets (Areas Where Spreadsheets Are Used)

Spreadsheets are commonly used for accounting, data management, scientific applications, statistical analysis, and forecasting. They provide an easy way to record financial data like sales, purchases, and profits; calculate budgets; and track assets over time. Spreadsheets also enable the management of non-financial data by arranging information in tables, sorting and filtering records, and linking related worksheets. Scientists and researchers can compile and analyze experimental results using spreadsheets. Statistical functions allow for complex analyses of data sets, while forecasting tools allow users to predict outcomes by changing variable values.

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Helen Muriuki
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4K views

Application Areas of Spreadsheets (Areas Where Spreadsheets Are Used)

Spreadsheets are commonly used for accounting, data management, scientific applications, statistical analysis, and forecasting. They provide an easy way to record financial data like sales, purchases, and profits; calculate budgets; and track assets over time. Spreadsheets also enable the management of non-financial data by arranging information in tables, sorting and filtering records, and linking related worksheets. Scientists and researchers can compile and analyze experimental results using spreadsheets. Statistical functions allow for complex analyses of data sets, while forecasting tools allow users to predict outcomes by changing variable values.

Uploaded by

Helen Muriuki
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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Download as DOCX, PDF, TXT or read online on Scribd
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Application areas of spreadsheets (Areas where Spreadsheets are used)

1. Accounting.

Spreadsheets provide an easy & streamlined means of financial management. For example; a
spreadsheet

can be used to do the following:

• Record sales & purchases.

• Calculate profits.

• Produce Invoices, and also compile financial statements.

• Prepare budgets.

• Assist the management of an organization to monitor the current state of payments from customers in

relation to goods delivered.

• Detect aged debtors (i.e., those people who have owed you money for more than the period allowed
in

your terms of business.

• Track the value of assets over time (i.e., Appreciation and Depreciation).

2. Data management.

A spreadsheet enables information to be produced easily and kept up-to-date. For example;

• It enables the user to create, edit, save, retrieve and print worksheet data & records.

• It enables data to be arranged neatly in tabular structure.

• Related data can be typed on the same worksheet. If the data is on different worksheets, the
worksheets can

be linked so that the data can be accessed easily. Some of the data management functions include:

Sorting (i.e., arranging worksheet records in a particular order so as to easily access the data items).

Filtering (i.e., displaying only the records that meet a given condition).

Use of Forms to enter & view records.

Use of Total/Subtotal function.

3. Scientific Applications.

Spreadsheet programs can be used by Scientists & Researchers to compile & analyse their results.

4. Statistical analysis / Mathematical operations.


Spreadsheets provide a set of data analysis tools that can be used to develop complex statistical
analyses.

In addition, some of the tools generate charts.Examples of statistical functions include:

AVERAGE – used to calculate the mean of a set of values.

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MEDIAN – used to give the value in the middle of a set of values.

5. Forecasting (What if analysis).

What if analysis is a feature in a spreadsheet that is used to find out the effect of changing certain values
in

a worksheet on other cells.It involves changing the value of one of the arguments in a formula in order
to

see the difference the change would make on the result of the calculation.This method can be used for

financial forecasting, budgeting, cost analysis, etc

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