Posted October 06, 2023

In today's digital age, businesses of all sizes generate vast amounts of data daily. From sales figures to inventory levels, the challenge isn't collecting the data—it's making sense of it. Enter the unsung hero of data analysis: the Pivot Table. A feature in Microsoft Excel and Google Sheets, pivot tables simplify complex datasets, offering a clearer view of your business's health. Let's explore this powerful tool and its potential benefits for SMEs.

What Are Pivot Tables?

Pivot tables allow users to reorganize and summarize selected columns and rows of data in a spreadsheet, turning verbose datasets into insightful summaries. They provide a birds-eye view of your data, highlighting patterns and insights that might go unnoticed in the standard data list.

Why Your Business Needs Pivot Tables

1. Easy Data Analysis: Without any coding, you can slice and dice datasets, rearranging them to view different summaries.
2. Quick Reporting: Produce comprehensive reports in a fraction of the time it takes with traditional methods.
3. Spotting Trends: By showcasing data in various arrangements, pivot tables can highlight significant patterns and anomalies.
4. Repeatable Analysis: Pivot Tables can quickly be updated once you add in additional information or a new report.

Getting Started with Pivot Tables

1. Select Your Data: Begin by selecting the dataset in your spreadsheet you want to analyze.
2. Choose 'Pivot Table' Option: In Excel, this can be found under Insert > Pivot Table. In Google Sheets, it's under Data > Pivot table.
3. Organize Your Data: Decide which data you want in your rows, columns, values, and filters. This layout will determine the table's final appearance.
4. Interpret and Act: Review your summarized data for actionable insights. Typically you would want numerical fields in the values section of your pivot table and descriptive fields in the rows or columns section of your pivot table.

Advanced Tips for Power Users

Calculated Fields: Introduce custom calculations to further enhance your data analysis.

Slicers: In Excel, slicers offer a visual way to filter the data displayed in your pivot table, making it more interactive.

Conditional Formatting: Apply color scales or data bars to highlight specific data ranges or to visually differentiate between high and low values.

Conclusion

For small and mid-sized businesses, every decision counts. Pivot tables empower businesses with data-driven insights, ensuring those decisions are well-informed. If you're not leveraging the power of pivot tables yet, now's the time to dive in. They might just transform the way you view and analyze your business data. Reach out to Excelerated Consulting via the form below if you want to uncover more use cases to leverage Pivot Tables for your business!