Micosoft Excel has a lot of great features that can help its users. The user must be able to make its full fledged use according to his imagination, job requirement and the data required to be prepared.
You can be explained this vividly with the help of this example. Suppose you are a BP worker and given the responsibility to prepare some seriously important data. You have to establish a relationship between the depth of the oil wells in the Caribbean and the frequency of oil rig problems. The Microsoft Excel statistics tool comes to the rescue and will help you in 15 minutes to do work like settle with a number of monthly frequency data points of disaster occurring in the oil wells, average depth of each well from the ocean floor to the sea floor and from sea floor to the oil pool. All the calculation regarding the probability distribution and chances of disaster to occur in the oil rig disaster will take place in very less time span with Microsoft Excel and submitted at the board meeting at ease.
Another great example of this kind of use is when you maintain corporate portfolio of several bonds rated triple A, Baa and C in the customer accounts that has earned good profits over the few past years. The commonly asked questions by the customers are whether to sell a bond or buy some protection with credit derivatives. You must be very confused because you will have go through several historical default probabilities of different bonds with several ratings and the credit derivatives ,CDS prices and equity prices. With the help of the large amount of data and Microsoft Excel you can answer your customers with great degree of confidence about the current economic condition, length of the bond price runup and the credit spreads on speculative bonds that are likely to increase by 15% in the next six months period. So, now you can suggest which bonds to sell, which bonds to hold for a specific time and which bonds to expose in gradual manner.
Another very good example of using Microsoft Excel is speculative activities like change of different commodities like wheat, corn, beef, oil and juice depending upon various weather conditions. You can enter the various weather patterns of various geographical regions in the Microsoft Excel tool along with different inflation rates. You can easily analyze the effect of bad or good weather condition on different variety of food products over a large time span in no time with Microsoft Excel statistics tool. You do not need to tax your brains much or bite your nails much. All kinds of complex situations depending on geographical population density, education levels and lifespan can also be included in predicting the price of the commodities neededby common man in different weather conditions.
Just relax and feel free to calculate all kinds of immensely difficult calculations with the help of Microsoft Excel statistics tool.