Microsoft Excel is stuffed with functionality that can boost any user’s productivity, ranging from novice users to advanced analysts. However, some tools remain underutilized, hidden in plain sight. One such Excel feature is the Quick Analysis Tool, an immersive set of features for instant visualization and analysis of data.
Have you ever felt overwhelmed by tons of rows of data or wondered how to extract deep insights instantly? This tool is the answer. In this article, we’ll learn what the Quick Analysis tool encapsulates, where to find it, and how to make it work.
What Is Excel’s Quick Analysis Tool?
The Quick Analysis Tool is an inherent functionality in Excel devised to streamline data analysis and visual representation. You can get all statistics relevant to your data with just a few clicks. From charts and conditional formatting to pivot tables, this tool covers it all thereby eliminating the need for complex formulas or steering through numerous menus.
With Quick Analysis Tool, you can:
- Highlight trends and outliers.
- Envision key data facts with graphs and charts.
- Summarize data with totals, averages, count, running totals, etc.
- Form instant pivot tables.
Where To Find This Hidden Gem, The Quick Analysis Tool?
As we mentioned above, this awesome Excel feature is hidden in plain sight. But don’t worry, we’ll help you find it.
Now, here’s what you need to do. Highlight all data within the data set that you wish to analyze. Once you have selected all your data, you will notice a symbol on the bottom right of the highlighted range of data. When you click on the symbol, you will see the wider range of Quick Analysis options offered by this tool to make instant data analysis a breeze.
Why Do Users Prefer the Quick Analysis Tool Over Regular Analysis Options?
#1: Ease of Use
When you can see all analyses with just clicks, there’s no need left to memorize or search for formulas or functions to perform the same task.
#2: Increased Speed and Efficiency
Performing data analysis in seconds saves considerable time otherwise spent on repetitive tasks.
#3: Versatility
This tool is very versatile as it provides options to incorporate analysis for varied data sets, whether categorical or numerical.
#4: Accessibility
Users don’t need to be an Excel pro to be able to use this tool. It is equally useful for beginners and experts alike.
Primary Features of The Quick Analysis Tool
#1: Conditional Formatting
Conditional formatting highlights the data of interest when certain rules or conditions are defined. With the Quick Analysis Tool, there are predefined options, as shown below:
- Data Bars: Symbolize data values as horizontal bars within cells.
- Color Scales: Use gradient colors to present value ranges.
- Icon Sets: Add graphic cues like flags or arrows to emphasize certain trends or categories.
- Greater Than: Choosing this option will open a window to allow the users to enter a benchmark value for data.
- Top 10%: Where applicable, this highlights the top 10% values within the data set.
- Clear Formatting: This clears out all applied rules or formatting to the selected data range.
#2: Charts
Presenting data with charts is one of the most efficient ways of visualizing data in Excel. The Quick Analysis tool automatically provides chart type suggestions most suited to your dataset.
For instance, for the data above, we see options of Clustered column charts with varying column names and statistics so you can look over all your data just by hovering over each option.
Additionally, if you want to choose any other chart type, you can click on “More Charts” and select how you want your data to be presented.
#3: Totals
The Totals tab lets you take a quick peek at the few common metrics of your data. See instant calculations on the Totals tab of your Quick Analysis tool:
- Sum: Total of selected data values.
- Average: Mean value of your dataset.
- Count: The total count of entries in the selected range.
- % Total: This number represents what percentage of the total of all columns is the total of a particular column.
- Running Totals: The totals of a certain column added to the totals of all preceding columns is the running total.
These totals can be applied to columns or rows making it extremely convenient to get an instant view of your numbers.
Getting totals in a data set is one of the most used tasks in Excel when working with numbers. Check out this article on How to Do Addition in Excel – 5 Ways for useful and quick tips.
#4: Tables
The next tab is the Tables tab which allows users to organize and format data efficiently using filtering, sorting, and summarizing of data.
Along with regular formatting of tables, you also get the option to create a Pivot Table based on suggested data or you can choose a blank table to define the desired data parameters yourself. This feature makes data analysis so much easier and quicker.
#5: Sparklines
Sparklines are micro, in-cell charts that present a quick graphic abstract of data trends. With the Quick Analysis Tool, you can choose to create line, column, or win/loss sparklines right into your dataset.
Smart Tips and Practices for Using the Quick Analysis Tool
#1: Start Working with Small Dataset
Until you are conversant with the use of these features, you can experiment with simple datasets to get yourself acquainted with the tool’s options.
#2: Combine Quick Analysis Tool Features
More advanced users can make use of multiple features, let’s say PivotTable and conditional formatting to make data insight and analysis a breeze.
#3: Preview Your Data
The best part about this set of tools is that it allows you to hover over the different options and see a preview of your data before you implement a change.
#4: Adjust Results
The Quick Analysis Tool’s data and visual outputs are completely customizable. You can update charts, tables, conditional formatting, etc. as needed.
#5: Shortcut Key
Use the shortcut – Ctrl + Q for Windows or Command + Q for Mac to instantly open the tool.
Conclusion
Quick Analysis Tool is indeed a hidden gem in Excel. Even though it may have certain limitations in terms of limited scenarios, it is still a huge time saver when it comes to getting data insights or merely playing with numbers for predictive analysis.
Whether you’re a beginner considering a simple way to study data or a seasoned professional intending to save time, this tool deserves a spot in your Microsoft Excel toolkit.
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