31 Excel Tips

That Could Save You from Working All Night

- Version 1.2 -

INTRODUCTORY NOTE

What is it: The following material was developed for the Seoul office training
program.

Target audience: 1st year associates and business analysts, although there
is nothing wrong doing this training as well with EMs and APs.

Duration: 3-4 hours to walk through the explanations and give everyone a
chance to actually practice.

Faculty: SEO did it with 2 MGMs, which was extremely powerful, since the
seniors showed that they can do and therefore they can expect their team members to do the same.

Final comment: The original material was not intended for self-study
purposes and therefore may be a little be too brief and cryptic in some cases. In case you have any improvement ideas please feel free to e-mail them to the authors.

31 EXCEL TIPS THAT COULD SAVE YOU FROM WORKING ALL NIGHT
1. Split windows and freeze panes 2. Hide and Unhide command 3. Moving around a spreadsheet with Ctrl, Shift, and Arrow keys 16.Auditing features 17.Goal Seek add-in 18.Solver add-in 19.Data tables 20.Scenarios add-in 21.Pivot Tables 22.Protecting cells and worksheets 23.Editing multiple worksheets simultaneously 24.Customize tool bars 25.Changing default workbook 26.Group and Ungroup your spreadsheet 27.Switch off the Microsoft Actors 28.SUBTOTAL function 29.SUMPRODUCT function 30.Conditional formatting 31.Autofilter command

4. Name cells/ranges
5. Sort command 6. Toggling among relational and absolute references 7. Fill down and fill right commands 8. IF function 9. AND and OR functions 10.SUM and SUMIF functions 11. COUNT functions 12.ROUND, ROUNDUP and ROUNDDOWN functions 13.VLOOKUP and HLOOKUP functions

14.Insert Function command

15.Paste Special command

1. SPLIT WINDOWS AND FREEZE PANES

Why you need to know this

Splitting a window allows you to work on multiple parts

of a large spreadsheet simultaneously Freezing the pane allows you to always keep one part of the spreadsheet (e.g., column or row labels) visible

How you use this feature

Drag the split horizontal and split vertical icons to the

desires positions Click on the freeze pane icon from the tool bar to freeze the panes Freeze pane icon Split screen icons

Split the screen so that:

Exercise
The row with column labels shows up in the top pane The column with store names show up in the left pane Freeze the panes
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2. HIDE AND UNHIDE COMMAND

Why you need to know this

Allows you hide and unhide particular rows or

columns Simplifies working with the spreadsheet Prevent certain information from being seen

How you use this feature

Select the row(s) or column(s) to be

hidden/unhidden Select Format : Row : Hide/Unhide or Format : Column : Hide/Unhide

Exercise

Hide the Avg Sale/Ticket column

3. MOVING AROUND A SPREADSHEET WITH CTRL, SHIFT, AND ARROW KEYS

Why you need to know this

Save you lots of time Move the first or last cell of a contiguous data block
without scrolling

How you use this feature

Ctrl-Arrow : Move to the first/last data cell in the arrow

direction Ctrl-Shift-Arrow : Selects the cells between the current cell and the first/last data cell

Exercise

Select all cells with data using the Ctrl, Shift, and Arrow
keys

4. NAME CELLS/RANGES

Why you need to know this

Allows specific cells or cell ranges to be referred to by

name Allows you to write equations such as = Quantity*Cost instead of =$B$12*$C$4

How you use this feature

Select the cell or cell range Select Insert : Name : Define from the menu bar

Exercise

Define cells A2:A125 as Sequence

5. SORT COMMAND

Why you need to know this

Correctly sorting a series of rows or columns

without disassociating the data is critical to many modeling efforts

How you use this feature

Select all cells in the data range to be sorted Select Data : Sort from the menu bar

Exercise

Sort the dataset by ascending store name

6. TOGGLING AMONG RELATIONAL AND ABSOLUTE REFERENCES

Why you need to know this

Saves you lots of time

How you use this feature

F4 key toggles through the different options

7. FILL DOWN AND FILL RIGHT COMMANDS

Why you need to know this

Saves you lots of time Allows for copying of cell content to contiguous cells
with a single keystroke

How you use this feature

Select the cell with the content to be copied and drag to

select the cells to which the content should be copied Ctrl-R to fill right Ctrl-D to fill down

Caution!!

Double-check your formulas for absolute vs. relative

references!!

Exercise

Calculate the total daily sales for each store

8. IF FUNCTION

Why you need to know this

Conditional comparisons are used in virtually all

spreadsheets Knowing how to use IF in a nested manner and in combination with other functions will save hours of time

How you use this feature

IF(Comparison,TrueAction,FalseAction) IF(Comparison,TrueAction,) ==> Cell shows 0 if

condition is false IF(Comparison,TrueAction,) ==> Cell shows blank if condition is false

Create a Seoul variable

Exercise 1 if the store is in Seoul 0 if the store is in other places

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9. AND AND OR FUNCTIONS

Why you need to know this

Used with the IF function to enable more complicated

logical comparisons

How you use this feature

AND(Comparison 1,Comparison2,Comparison3,) OR(Comparison 1,Comparison2, Comparison3,)

Create a variable that calculates daily sales per pyung

Exercise only for: KFC stores in Seoul with size larger than 50 pyung All BK stores
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10. SUM AND SUMIF FUNCTIONS

Why you need to know this

SUM is used in virtually all spreadsheets SUMIF can save lots of time in most spreadsheets if you
know how to use the function

How you use this feature

SUM(Range1,Range2,Value1,) SUMIF(Range,Comparison,SumRange)
If a SumRange IS NOT specified, SUMIF sums the cells meeting the Comparison criteria in the specified Range If a SumRange IS specified, SUMIF sums the cells in SumRange where the corresponding cells in Range meets the Comparison criteria NOTE: The signs must be used for the Comparison value

Calculate the total store space for stores larger than 50

Exercise pyungs Calculate the total daily sales for all stores larger than 50 pyungs
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11. COUNT FUNCTIONS

Why you need to know this

Prevents you from wasting time counting items manually

or creating dummy variables to count such items

How you use this feature

COUNT(Range1,Range2,Value1,...) ==> count the number

of cells containing numbers COUNTA(Range1,Range2,Value1,...) ==> count the number of non-empty cells COUNTBLANK(Range) ==> count the number of empty cells in the range COUNTIF(Range,Criteria) ==> count the number of cells in the Range containing the Criteria. NOTE: The signs must be used for the Criteria value

Exercise

Calculate the number of KFC stores in the dataset

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12. ROUND, ROUNDUP AND ROUNDDOWN FUNCTIONS

Why you need to know this

Many situations exist when you need to have exact

numbers instead of various fractions in your calculations (e.g., there cannot be 536.235 bank branches)

How you use this feature

ROUND(Number,Digits) ==> Round the number (or cell)

to the specified number of digits If Digit = 0, then Number is rounded to nearest integer If Digit > 0, then Number is rounded to the specified number of decimal places If Digit < 0, then Number is rounded to the specified number of digits left of the decimal place ROUNDDOWN(Number,Digits) and ROUNDUP(Number,Digits) work the same way as ROUND, but the direction of rounding is specified by the function

Exercise

Calculate a rounded Avg Sale/Ticket variable, rounding

to the nearest 10 Won

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13. VLOOKUP AND HLOOKUP FUNCTIONS (CONTINUED)

Why you need to know this

Allows you to automatically lookup a particular cell of

data from a larger data range. This is especially useful when you have A large data section that contains information for multiple records somewhere on the spreadsheet (e.g., a small database) A calculation area somewhere else, and you need to refer to some specific data elements for specific records

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13. VLOOKUP AND HLOOKUP FUNCTIONS (CONTINUED)

How you use this feature

VLOOKUP and HLOOKUP allows you to find a specific cell of data

in a larger data range Use VLOOKUP when each row contains a separate record and the associated columns contain data for that one record Use HLOOKUP when each column contains a separate record VLOOKUP(SearchValue,Range,ColumnNumber,Error) ==> look for a value in the row specified by SearchValue and the column specified by ColumnNumber SearchValue indicates the match key (i.e., find the row that contains the SearchValue in the first column) Range specifies the cells containing the data ColumnNumber specifies the column that contains the data element you want Error determines what happens when Excel does not find the exact SearchValue you want. FALSE leads Excel to display a #N/A when an exact match cannot be found. TRUE leads Excel to display the next smaller value than SearchValue HLOOKUP(SearchValue,Range,RowNumber,Error) ==> look for a value in the column specified by SearchValue and the row specified by RowNumber NOTE: The 1st column of data must be sorted in ascending order when using VLOOKUP, and the 1st row of data must be sorted if using HLOOKUP
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13. VLOOKUP AND HLOOKUP FUNCTIONS

Define a name for the cells containing the data and use
Tip that name as the Range. Do not include the row/column label in the named range because this would break the ascending sort rule above. Insert an extra row above your column label to number the columns

Exercise

Use VLOOKUP to find out how many seats are in the

Duksung store? How passers-by for the store?

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Number the columns to easily check your formulas

Define a name for cells in your data Range

Need to sort in ascending order for VLOOKUP function to work properly

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14. INSERT FUNCTION COMMAND

Why you need to know this

What do you do if you do not know what functions are

available or how to enter the arguments for a function?

How you use this feature

Select the cell Select Insert : Function from the menu bar

Exercise

Calculate the median daily ticket count for all the stores

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15. PASTE SPECIAL COMMAND

Why you need to know this

Saves you lots of time

Retyping formulas Converts formulas into values Reformatting cells Transposing cells (i.e., convert row-entered data blocks into column-entered ones)

How you use this feature

Copy the cells of interest Place the cursor where you want to past the information Select Edit : Paste Special from the menu bar Select the appropriate options from the dialog box that appears

Exercise

Convert the Rounded Avg Sale/Ticket calculations into values

(i.e., get rid of the formulas) Copy and paste the entire dataset into a new spreadsheet in transposed manner
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16. AUDITING FEATURES

Why you need to know this

Quickly find the cells referenced by a formula and/or

quickly find which cells reference a particular cell of interest

How you use this feature

Select View : Toolbars : Customize from the menu bar.

Check the Auditing box from the Toolbars tab Click on the cell of interest Select the Trace Precedents or Trace Dependents icon from the Auditing Toolbar

Exercise

Find the cells that references the Daily Ticket Count for
the Ansan store

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17. GOAL SEEK ADD-IN

Why you need to know this

Easily find what one input variable needs to be to

achieve some desired result in a calculation

How you use this feature

Select the calculated cell Select Tools : Goal Seek from the menu bar Enter the desired resulting calculation into the To
Value form in the dialog that appears Enter the input cell in the By changing cell: form

Exercise

How many additional daily tickets would the Achasan

store need to have a total daily sales of 2,000,000 Won?

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18. SOLVER ADD-IN (CONTINUED)

Why you need to know this

Allows you to use linear programming to find the optimal

inputs to achieve some desired calculational result (e.g., maximize revenues by increasing daily tickets, increasing store size, average sale/ticket, etc. simultaneously) Use Solver instead of Goal Seek when: You need to place constraints on the input variable (e.g., cannot open a store for more than 24 hours a day) More than 1 input variables are involved You want to minimize or maximize the resulting calculation in addition to just setting the calculation to a predetermined value

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18. SOLVER ADD-IN

How you use this feature

Select the final calculated cell, then select Tools : Solver

from the menu bar Select what you want to do from the Equal to section (I.e., maximize, minimize, or set to a specific value) Reference the input cells (note, separate cells by using a comma or : if cells are contiguous If the input values have constraints, click on Add to enter the constraints Click on Solve

What is the maximum daily sales per pyung for the

Exercise
Ansan store if: The store can be opened a maximum of 18 hours/ day, 7 days/week Store size can expanded up to a maximum of 87 pyung
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19. DATA TABLES COMMAND (CONTINUED)

Why you need to know this

Simplest way to run sensitivity analyses

How you use this feature

Input the values you want to test for a particular variable on

separate rows (e.g., A6:A13) In the cell above and to the right of the first sensitivity value, reference the final result of your calculations (e.g., A5 = C3) Select the cells containing the calculation and input variables (e.g., A5:B13) Select Data : Tables from the menu bar Input the cell referenced by the formula in theColumn input cell(e.g., A2). This example uses in Column input cell because the value to test in the sensitivity analysis are arranged in a single column

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19. DATA TABLES COMMAND

What daily total sales would the Achasan store have its
Exercise daily ticket counts ranged from 400 to 600 each day (in increments of 50)?

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20. SCENARIOS ADD-IN

Why you need to know this

Youve created a model and need to run various scenarios. Then

use the scenario function under the tools menu. Keeps your inputs and outputs from the model nicely together

Assign names to the excel cells that act as input parameters for
How you use this feature
your model Start the scenario function by selecting Tools : Scenarios from the menu bar. Click Add to enter your first scenario Create a name Select ALL cells that will be your input to the model. Assign the desired scenario value to each input parameter. Add more scenarios as needed When finished click on summary and select scenario summary (the pivot table is not so helpful)

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20. SCENARIOS ADD-IN (SIMPLE EXAMPLE)

Objective: You want to build a simple model to understand under which scenarios Airbus should build the A3XX a next generation super large airplane with more than 600 seats

Simple model: Profit = number of planes sold x price x margin development cost

Scenarios No. of planes Price (million. USD) Margin R&D

Worst case 200 120 20% 13 billion USD

Realistic 350 130 25% 12 billion USD

Best case 500 150 30% 11 billion USD

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21. PIVOT TABLES

Why you need to know this

Most powerful tool to arrange huge amounts of data in a more

structured way than pure sorting. In particular helpful to run quick sums, averages, distributions, etc. in combination with a structure criteria, e.g. total number and average sales per store size band

How you use this feature

Select Data: PivotTable Report

Step 1: Microsoft Excel list

Step 2: Select the relevant data area

Step 3: Drag and drop data elements

on row and column (this is your table structure), the data you want to analyze on the data area Step 4: Just press Finish
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21. PIVOT TABLES

Draw a distribution chart for the number of stores per

Exercise size in pyung bucketed each 10 pyung wide Arrange the store distribution by store size (each 10 pyung) and daily tickets (each 100 tickets) and show the number of stores per each category

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22. PROTECTING CELLS AND WORKSHEETS

Why you need to know this

Sometimes you want to give your Excel file to someone else and
prevent them from changing the formulas for seeing some hidden cells

Protecting a spreadsheet or workbook involves two steps

How you use this feature
Designating which cells to be locked or hidden Protecting the spreadsheet or workbook Note several weird peculiarities: The default for all cells in a spreadsheet if LOCKED. So if you want the receiver of your worksheet to change the content of a cell, unlock the cell before protecting the spreadsheet The formulas in a cell can be seen even if the spreadsheet is lock -- UNLESS you hide that cell before protecting the spreadsheet To lock/unlock and hide/unhide a cell, select the cell(s) and select Format : Cell. Select the Protection tab when the dialog box appears To protect/unprotect a spreadsheet, select Tools : Protection : Protect Sheet

Exercise

Protect the dataset spreadsheet

Allow the user to change the data Lock and hide the formulas you entered
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23. EDITING MULTIPLE WORKSHEETS SIMULTANEOUSLY

Why you need to know this

Avoid having to redo your work on multiple

spreadsheets in a single workbook

How you use this feature

Select the first spreadsheet to be edited Hold the Ctrl key while clicking on the additional
spreadsheets Do your editing

Exercise

Try it

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24. CUSTOMIZE TOOL BARS

Why you need to know this

How many icons on the tool bar to you use regularly? How often do you have to use the menu bar or mouse to
do something you wish were accessible with a single click?

How you use this feature

Select View : Toolbars : Customize Click on the Commands tab Drag items on and off the toolbar as you wish

Exercise

Modify your toolbar as desired

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25. CHANGING DEFAULT WORKBOOK

Why you need to know this

How often do you use the menu bar to change the normal
font or number formats? You can create the basic number and font formats you use regularly, save it as a template, and have Excel use that template every time you create a new workbook

How you use this feature

Create a workbook with the formatting you use regularly

and save it under the name Book and Template format Move the Book template to the Microsoft Office : Office : Xlstart folder

Exercise

Create your default workbook

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26. GROUP/UNGROUP PARTS OF SPREADSHEETS

Why you need to know this

How often would you like to hide or unhide parts of a

complex spreadsheet? If your answer is very often. You will like to group/ungroup function instead of the hide/unhide command, since you will be able to toggle between hidden or displayed columns or rows.

Mark the row or column that you would like to fold, I.e.
How you use this feature hide for the moment. Click on Data: Group and Outline: Group To fold click now on the minus sign outside of your column or row You may also group or ungroup hierarchically

Tip

Group some parts in your spreadsheet Also try to remove the grouping
Use the two arrow buttons, which you find on the pivot
table toolbar (right click on any toolbar and select PivotTable)
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Exercise

27. SWITCH OFF THE MICROSOFT ACTORS

Why you need to know this

Also find the Microsoft Actors more disturbing than

helpful? Always popping up at the wrong moment

How you use this feature

Start the Windows Explorer Go to the directory Program Files: Microsoft Office:
Office: Actors Rename the directory Actors to Dead Actors

Exercise

Try to eliminate the Actors

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28. SUBTOTALS AND TOTALS

Why you need to know this

Want to add lines with subtotals in your P&L or balance

sheet, but still need to run the total over all numbers? Dont want to get confused with nested subtotals and totals in your spreadsheet?

How you use this feature

Instead of =sum(range) add =subtotal(9, range) where

you need a subtotal or total. You may nest this function as you like. Excel keeps track of everything

Exercise

Create a simple column with various numbers Add various subtotals running over various parts of your
spreadsheet and finally over the whole column

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28. SUMPRODUCT FUNCTION

Why you need to know this

If you need to multiply two column and need the sum of

the multiplication, sumproduct comes easy.

How you use this feature

Insert =sumproduct(range1, range2)

Exercise

Multiply two columns or rows and get the sum of it

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29. NPV FUNCTION

Why you need to know this

Of course you can create your own discounting table and

then calculate the NPV of your cash flow series or just use the NPV function

How you use this feature

Insert =NPV(discount rate, cash flow numbers, ...) The discount rate is in percent The cash flow numbers are either an array or individual
numbers in individual cells Attention: The first cash flow number is in period 1, e.g. the end of the period. If you have for example an initial investment in period 0, just type =NPV()+period 0 payment in your calculation

Exercise

Create a list of random cash flows and calculate the NPV

with the NPV function

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30. CONDITIONAL FORMATTING

Why you need to know this

Sometimes you would to color the output of cells in

different colors, e.g. negative numbers in red, positive numbers in black, or add a frame, etc.

How you use this feature

Mark the relevant fields and select Format: Conditional

Formatting Select the criteria for the format and adjust the format. You can actually change the font, the border and the color Click on Add to select additional criteria for the formatting

Format a cell to be in red font, with blue background for

Exercise negative numbers and in bold font with thick border, if the value is above 10

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31. AUTOFILTER COMMAND

Why you need to know this

You have a huge pile of data and quickly want to find

some specific information, e.g. all sets that meet a criteria or the top 10 items etc.

How you use this feature

Click into your table or better mark the data area and
select Data: Filter: Autofilter Using the drop-down boxes per item allows you to display only specific filtered information Selecting multiple matches (up to 3 maximum with autofilter) you can narrow down your search Or add your own criteria for filtering by clicking on the custom criteria

Find the stores who belong to the top 10% in terms of

Exercise

average sales per ticket AND the top 10 in terms of store size in pyung
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