If you have ever used Excel (or any spreadsheet for that matter) you will know that the real benefit over using the likes of a table in Word to store your data is the ability to use formulas. Excel comes with a massive host of built in formulas for you to use.. To check these out just click on the Formula Tab and browse the many on offer, which will undoubtedly save you having to recreate complex ones.
I am not going to go into all the different types of formulas here, it would take too long and most are specific to a field such as financial, engineering or maths..
I will however, explain how to use Excel and a formula to calculate the year to year growth percent of say a countries GDP, your savings or a companies profit margin.
Example 1: Calculate Growth % in a fictitious company using Q2 & Q3 figures
Try this and play about with the figures....
I am not going to go into all the different types of formulas here, it would take too long and most are specific to a field such as financial, engineering or maths..
I will however, explain how to use Excel and a formula to calculate the year to year growth percent of say a countries GDP, your savings or a companies profit margin.
Example 1: Calculate Growth % in a fictitious company using Q2 & Q3 figures
- The calculation is: Growth % = (Q3 - Q2) / Q2
- So, to use this in Excel we will enter the figure for Q2 & Q3 in their respective cells
- In the selected cell for the total (I have used A3) enter the formula =(A2-A1)/A1 where the cell A1 holds the data for Q2 and A2 holds the data for Q3.
- Note - to ensure a correct percentage right click on cell A3 and select Format Cells, now click on the Number Tab and set the cell to Percentage.
Try this and play about with the figures....
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