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Analyzing Your Data

After you arrange your data and select the subset of it that pertains to the problem you need to solve, you often want to analyze your data. This section shows you how to use Excel to analyze your data, whether you created your database in Excel or are using it to link to an external database. Excel enables you to do everything from creating simple formulas that summarize your data, to using functions that provide an easy way to invoke complex formulas such as calculating the monthly payment on loan.

Creating Basic Formulas

Formulas are the key to making your database a true analytic resource. Formulas are equations that perform calculations on values in your database. Simple formulas can provide basic statistical information about your data (sums, averages, maximums, and minimums), while more advanced formulas can answer complex financial questions, calculate statistical significance, or project trends in your data.


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