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You’re not Good at Excel and you

don’t even Know it
V-Lookups and Pivot tables dont make you an expert.

breakCorporate Jul 19, 2016 · 3 min read

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I work in Finance doing analytics which means I live in Excel and so does
everyone that works with me. However, during my time in corporate I’ve
noticed that others in the Finance industry have a very small understanding
of Excel. V-Lookups and Pivot Tables seem to be the stamp of approval. Yet,
you can pick up these skills by Googling a 5 minute tutorial. If this is the line
for expertise than everyone is a guru.

Storing Data
The Hrst issue I always come across is how people decide to store and pull
their data in Excel. They usually have multiple tabs delineating the data.
This becomes a nightmare when trying to reference anything. It makes the
workbook prone to reference errors and its a mess to maintain. Worse is
when there are direct cell references to values. This makes it almost
impossible to have a dynamic workbook, and upon any change to the
existing data you will likely end up pulling the wrong number.

It is bad practice to keep the data you want to pull in the same tab where
you want to display it. I Hnd that having one or two tabs that house all the
values I want to pull or manipulate creates the most Juid Hles. By using this
technique you can use a single formula to pull data. This eliminates the
potential for overwriting one formula with another. Most important is
storing your data in the same format as a SQL table.

To setup your data in a SQL format you need to have all values reside under
a header column. For example say we have a set of data that lists clients of
the company. In Column A we list the client name, Column B lists their
location, Column C lists their value, etc. This data format makes it
extremely easy to Hlter and pull any data.

Pulling the Data

Unfortunately, if you have your data storage wrong then your data pull is
going to be messy. The best way to pull your data is to run a lookup function
like Index Match for non-numeric values and a Sumifs for numerics. This
allows you to specify parameters for the diSerent Helds in your data tab. If
you are pulling both non-numeric and numeric values into the same set I
Hnd it best to use an Index Match on a UI (unique identiHer). Within your
data tab each row should have an identiHer that is diSerent than any other
row. This allows you to pull on that value and know you are selecting the
appropriate data.

Displaying the Data

Many opt for a pivot table when trying to display a set of data. This can be a
good short term or one oS display to analyze the data. However, if you are
presenting your data it is best to steer away. Pivot tables typically provide
too much data to the point where it is diWcult to discern what you are
trying to show. Filtering can also cause issues. Have you ever refreshed your
pivot table only to realize that you needed to change the Hlter for a date,
name, etc.?

Less is more when presenting data. The end presentation of data should be
short and sweet. You want to summarize the intent of the data. What were
you trying to solve? It doesn’t help anyone to show a 50 row set of metrics.
It’s great to have the information in another tab, but when you want to
show the Hndings of your work it should be a clean brief sheet.

The Goal is to Create Automated Models!

The main use point of Excel is to automate models. You want to create a
model that allows a user to input new data and have everything Jow
through. You do not want a model that requires step checking through 20
tabs because the data is everywhere and there are 10 diSerent formulas to
pull everything. An Excel model should be simplistic.

Advanced Excel Techniques

If you want to get really good with Excel check out this link to get an intro to
VBA. Let me know if you want any additional tips or expanded deHnitions.

Excel Finance Business

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