Data analytics is an important skill that every business manager or owner should have. This is because the analysis of data ensures that business processes are optimized to ascertain profitability and cut costs where necessary by discovering alternative ways of analysing business data. I found my studies of the probability theory entirely interesting as I was able to critically evaluate how it plays a key role in making smart business decisions. I learnt key concepts of the addition rule, the multiplication rule, conditional probability, and more. These concepts help to identify uncertainties in business and how well to decide on what line of action is most suitable for a business operation.
From the most recent module, I have been able to see how the knowledge of set theory can be applied in grouping business operations. For example, every key area of a business including accounting and finance, operations, marketing and sales, human resource, and management can be classified into different sets, this classification helps in planning and organizing business processes, making business analysis easy and efficient.
Microsoft Excel has always been an application of interest to me, as it is essential for data entering, processing, and calculating business data. I have learnt quite several uses of Microsoft Excel while studying this present module. I have seen how Microsoft Excel can be used in preparing accounting statements, charting, and graphing, data management, task management, and financial analysis. Prior to this module, I had limited knowledge of the use of Microsoft Excel, however, with this module content, I have been able to see how flexible and easy-to-use the Microsoft Excel application is. Knowledge is indeed empowering, and I am glad that I can begin to learn this essential tool that will become extremely useful in my daily work.
It is quite fascinating to see how much of an essential tool Microsoft excel is as it allows the creation of formulas for easy processing of data. I learnt how well many business organizations prepare their budgeting, forecasting, and other financial documents using the Microsoft Excel application. I also learnt the important financial formulas that make doing financial calculations easy. I can only imagine how business accounting was done prior to the creation of Microsoft Excel. The tool is a great one that eases the way by which business calculations can be done.
The excel shortcuts are particularly timesaving as they make it easy to get work done on the application. For example, I have learnt to use important shortcuts to toggle references, insert or edit external functions such as company share prices and GDP data for countries, insert worksheets, fill down, fill right, insert column and so much more. I strongly believe that these learnings will come in handy during my work activities. I am already seeing ways by which I will begin to use all that I am learning in improving my business decisions. It has indeed been a worthwhile learning experience for me.
#EMBA27 From Maths Genius to Accounting Novice