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Analysis in Excel (A Comprehensive
Guideline)

Data Analysis in
Excel (A
Comprehensive
Guideline)
Written by
Akib Bin Rashid
Last updated: Jun 15, 2024

In this article, we will learn how to

analyze data in Excel, including:

Different Excel functions, such as

VLOOKUP, INDEX-MATCH, SUMIFS,
CONCAT, and LEN functions.
Using Excel charts – learn how to
create various chart types,
customize them, and interpret the
insights they offer, and how to
apply conditional formatting
effectively for data analysis
purposes.
Creating pivot tables, performing
calculations, and generating
insightful reports.
Using Excel’s sorting and filtering
capabilities.
The What-If Analysis feature in
Excel and explore different
scenarios by changing input
values and observing the resulting
outputs.
Implementing data validation
techniques to maintain data
accuracy.
The benefits of using tables and
the built-in Analyze Data feature in
Excel, which provides insights and
recommendations based on your
data.
Introducing the Analysis ToolPak
add-in, which offers a wide range
of statistical functions and tools,
including descriptive analysis and
ANOVA (Analysis of Variance).

Let’s use the following dataset as a

demonstration of analyzing data in
Excel.

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How to Analyze Data

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Method 1 – Use Excel

Functions to Analyze Data
Case 1.1 – The VLOOKUP Function

The VLOOKUP function is a frequently

used function for looking up any
particular data from a dataset. In the
following example, we want to know
how many goals an individual (for
instance, Alex) has scored.

The formula in cell F5 is

=VLOOKUP(E5,B5:C14,2)

Here, Excel is looking for the value in

cell E5 within the range B5:C14 and
retrieving the corresponding value from
the second column of that range.

Case 1.2 – INDEX and MATCH

Functions

The formula in this case is:

=INDEX(B5:C14,MATCH(E5,B5:B14,0),2)

Formula Breakdown

MATCH(E5, B5:B14, 0) → The MATCH

function searches for the value in cell
E5 within the range B5:B14. The 0 as the
third argument indicates an exact
match.
Output: 1

INDEX(B5:C14, MATCH(E5, B5:B14, 0), 2)

→ This becomes,
INDEX(B5:C14, 1, 2) → This portion
retrieves the value that is in 1st row and
2nd column of the range B5:C14.
Output: 17

Case 1.3 – The SUMIFS Function

The SUMIFS function gets the sum of a

range of cells with a set of conditions.

If you want to get the goals scored

by the players from Group A and
Group B separately, the formula
you can use in cell G5 is:

=SUMIFS($D$5:$D$14,$C$5:$C$14,F5)

The formula sums the values in the

range $D$5:$D$14 but only includes
values where the corresponding cells in
the range $C$5:$C$14 match the value
in cell F5.

Case 1.4 – The CONCAT Function

Let’s join the first and last names of

certain individuals here using the
CONCAT function in Excel.

The formula in cell D5 is:

=CONCAT(B5," ",C5)

The formula joins the values in cells B5

and C5, with a space between them,
resulting in a single combined text
string.

Case 1.5 – The LEN Function

You can count the number of

characters of a cell or an array using
the LEN function.

The formula in cell E5 is:

=LEN(D5)

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Method 2 – Data Analysis

Using Excel Charts
Select the range F4:G6.
Go to the Insert tab and select any
column chart.

Excel will create a column chart for

you.

Check Property
Owner Records

Open

Method 3 – Apply
Conditional Formatting to
Analyze Data
Select the dataset in the range
C5:C14.
Go to the Home tab and choose
Conditional Formatting,
then select a set of Data Bars.

Excel will add data bars.

Check Property
Owner Records

Open

Method 4 – A Pivot Table

Let’s calculate the number of goals
scored by Group 1 and Group 2 players
using the Pivot Table.

Select the dataset in range B4:B14.

Go to the Insert tab and select

PivotTable.

A box will appear. We have chosen

a New Worksheet as the
destination of the Pivot Table.

Drag the fields in the areas (Group

in Rows and Goal in Values) shown
in the image.

Excel calculates the sum of goals.

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Method 5 – Sorting Data

in Excel
Suppose you want to sort the dataset in
a descending order (Largest to
Smallest).

Select the range C5:C14.

Go to the Data tab and select the
Sort Z to A icon for descending
order.

Select Expand the selection option

from the warning window.

Your data will be sorted.

Method 6 – Filtering Data
in Excel
Suppose you want to see the
performance of the players of Group A.

Select range B4:D14.

Go to the Data tab and activate
the Filter option.

Filter your dataset from the drop-

down icon in the column heading.
We have selected Group A in the
Group column.

Excel will get the list of all Group A

players and their performance.

Method 7 – Excel What-If

Analysis Feature
What-If Analysis in Excel refers to a set
of tools and techniques that allow you
to explore different scenarios and
observe the potential impact on the
results of your formulas or models.
Excel provides several features for
performing what-if analysis, including:

Data Tables: Data Tables allow

you to create a table displaying
multiple results based on input
values. You can perform either
one-variable or two-variable data
tables to see how changing inputs
affect the final results.
Goal Seek: Goal Seek helps you
determine the input value needed
to achieve a specific result. You
specify a target value, and Excel
automatically adjusts the input
value until it reaches the desired
outcome.
Scenario Manager: Scenario
Manager enables you to create
and compare different sets of input
values for your model. You can
define multiple scenarios with
varying inputs and switch between
them to see the impact on the
calculated results.

We will show an example of the Goal

Seek feature. Suppose you have 100
units of a product to be sold. You want
to see the necessary unit price if you
want to get a revenue of $200.

The formula in C6 is:

=C4*C5

This is very simple as we all know that

the unit price will have to be $2.
However, the fun with this Goal Seek
feature is that you do not have to
manually put the unit price. Rather,
Excel will find it for you.

Go to the Data tab and select

What-If Analysis, then select Goal
Seek.

You want the revenue (To value) to

be $200 and get the unit price in
cell C5. So, the Set cell is C6 and
the cell for By changing cell is C5.
Put those values in the dialog box
and click OK.

Excel will put the unit price in C5.

Put the Revenue in the currency
format if you want.
Modify the Units Sold value and
repeat the process to see how it
affects the result.

Read More: How to Perform Case

Study Using Excel Data Analysis

Method 8 – Data
Validation
Let’s get back to our previous example
(from the VLOOKUP section). We want to
select a player’s name from all the
available options rather than manually
typing their names.

Select cell E5.

Go to the Data tab and select the
Data Validation option.

A Data Validation box will pop up.

Choose List in the Allow field.
Set the source to =$B$5:$B$14.
Click OK.

You can now select the names

from the drop-down icon.

Once you select a name, you will

get the number of goals the player
scored.

Method 9 – Excel Table

Select the dataset in range D5:D14.
Press CTRL + T.
Click OK.

Excel will create a table.

Let’s see how you can get the total

goals scored by these players without
using any Excel Function.

Click on any cell of the table.

Go to the Table Design tab (this
tab will be seen only if you select a
cell of the table first).
Select Table Style Options and
check the Total Row box.

Excel shows the total goals scored.

Read More: How to Analyse Qualitative

Data from a Questionnaire in Excel

Method 10 – The Analyze

Data Feature
Add this feature to your ribbon. Put
the cursor on the Home ribbon and
right-click, then select Customize
the Ribbon.

Select New Group and set its

position on the Home ribbon.
Select All Commands and add
Analyze Data to this newly created
group.
Click OK.

Go to the Home tab and select

Analyze Data.

Excel will recommend several

options for data analysis.

Method 11 – Using the

Analysis ToolPak Add-in
Go to the File tab and select
Options. The Excel Options box will
open.
Go to Add-ins and select Excel
Add-ins in the Manage field,
then click Go.

Check the box for Analysis

ToolPak and click OK.

Let’s do some analysis using this

add-in.

Read More: How to Convert

Qualitative Data to Quantitative Data
in Excel

Descriptive Analysis with the ToolPak

Select range C5:C14.

Go to the Data tab and select Data
Analysis (This will be available
once you activate the Analysis
ToolPak add-in).

A Data Analysis box will pop up.

Select the Descriptive Statistics
option and click OK.

Set the input range and the output

range and click OK. Check
Summary statistics.

You will get the descriptive

statistics of the selected input
range in your Excel workbook.
Read More: How to Make Histogram
Using Analysis ToolPak

ANOVA Analysis in Excel with ToolPak

ANOVA stands for Analysis of

Variance. It is a statistical method used
to compare the means of two or more
groups to determine if there are any
significant differences between them.

Go to the Data tab and select Data

Analysis.
Select ANOVA from the Data
Analysis box and click on OK.

Set the input and output ranges.

Excel will perform the analysis for

you.

Read More: How to Analyze Data in

Excel Using Pivot Tables

Things to Remember
Data Validation ensures accuracy.
The INDEX-MATCH function is
better than the VLOOKUP function.
You need to refresh the Pivot Table
when you change your dataset.

Frequently Asked
Questions
1. What are the advantages of using
the Analyze Data feature in Excel
over manual analysis techniques?

Advantages of using the Analyze Data

feature in Excel over manual analysis
techniques include saving time by
automating tasks, an easy-to-use
interface, lots of helpful tools and
functions, the ability to customize, and
working well with other Excel features.

2. What is the difference between

descriptive and inferential statistics?

Descriptive statistics help describe data

by summarizing it while inferential
statistics help make predictions about
a larger group based on a smaller
sample.

3. What are the uses of ANOVA?

ANOVA is used to compare the

averages of different groups, see how
categorical variables affect outcomes,
analyze experiments, and understand
different sources of variation in data.

Analyze Data in Excel:

Knowledge Hub
How to Install Data Analysis in
Excel
How to Use Data Analysis Toolpak
in Excel
How to Enter Data for Analysis in
Excel
How to Use Analyze Data in Excel
[Fixed!] Data Analysis Not
Showing in Excel
How to Analyze Raw Data in Excel
How to Analyze Large Data Sets in
Excel
How to Analyze Text Data in Excel
How to Analyze Time Series Data
in Excel
How to Analyze Sales Data in Excel

How to Analyze Likert Scale Data

in Excel
How to Analyze qPCR Data in Excel
How to Analyze Quantitative Data
in Excel
How to Analyze Qualitative Data in
Excel
Organize Data in Excel: A
Complete Guide
Rearranging in Excel
How to Add Tags in Excel?
How to Summarize Data in Excel

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Akib Bin Rashid


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

AKIB BIN RASHID, a materials and

metallurgical engineer, is
passionate about delving into
Excel and VBA programming. To
him, programming is a valuable
time-saving tool for managing
data, files, and internet-related
tasks. Proficient in MS Office,
AutoCAD, Excel, and VBA, he
goes beyond the fundamentals.
Holding a B.Sc in Materials and
Metallurgical Engineering from
Bangladesh University of
Engineering and Technology, MD
AKIB has transitioned into a
content development role.
Specializing in creating
technical content centred
around Excel and... Read Full Bio

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