Excel is an electronic spreadsheet program that can be used for storing, organizing and manipulating data.
The types of data that a cell can hold include numbers, text or formulas. Just as in math class, formulas are used for calculations usually involving data contained in other cells. Excel and other electronic spreadsheets include a number of built in formulas used for common tasks known as functions.
- Performing basic mathematical operations such as summing columns and rows of figures.
- Finding values such as profit or loss.
- Calculating repayment plans for loans or mortgages.
- Finding the average, maximum, or minimum values in a specified range of data.