Advanced Excel Techniques for Data Visualization: Part III

In today’s data-driven business world, Excel has become an essential tool for businesses and individuals to make data-driven decisions. Microsoft Excel is a leading spreadsheet software that allows data manipulation and analysis. With advanced Excel techniques, it is possible to better analyze and visualize large-scale datasets for decision-making purposes. In this article, we will look at advanced Excel techniques for data visualization, specifically focusing on Excel add-ins for advanced analytics.

 Excel Add-Ins for Advanced Analytics

Excel add-ins are third-party software tools that integrate with Excel to extend its functionality and capabilities. These add-ins can perform complex data analysis that is not possible with Excel’s built-in features alone. The following are the best add-ins for advanced analytics that can enhance data visualization in Excel:

 Power Pivot

Power Pivot is an Excel add-in that provides powerful data modeling and analysis features. It allows users to import and link large data sets from various sources, analyze the data, and create interactive data visualizations. Power Pivot makes it easy for business users to create complex reports and dashboards.

 Power View

Power View is another Excel add-in that provides interactive data visualization capabilities. It allows users to create dynamic and interactive charts, graphs, and tables which can be customized and shared with others.

 Advanced Charts by Excel Campus

Advanced Charts by Excel Campus is a collection of advanced charting tools that help create various charts that are not available in the default Excel charting tool. It provides a range of custom charts, including waterfall and stacked charts.

 Cluster Analysis by AbleBits

Cluster Analysis by AbleBits is an Excel add-in that can help you analyze data and group or cluster similar items together. This tool can be useful for market research, customer segmentation, and data exploration.

Excelerator BI

Excelerator BI is an Excel add-in that allows users to create powerful data models, run complex calculations, and create interactive reports and dashboards. It provides a range of features such as data profiling, data mappings, and data visualization tools.

 Forecasting by Excel-Friendly

Forecasting by Excel-Friendly is an Excel add-in that uses various forecasting techniques to predict future trends based on historical data. This tool can be useful for sales forecasting, financial modeling, and budgeting.

 Analyze Data with XLMiner Analysis ToolPak

XLMiner Analysis ToolPak is an Excel add-in that provides various data analysis features such as regression analysis, factor analysis, and decision trees. This tool can be useful for data mining, market research, and customer profiling.

Using Power Pivot for Advanced Analytics

Power Pivot is a powerful tool for data modeling and analysis in Excel. It can handle large datasets with ease and provide interactive data visualization. Here’s a quick guide on how to use Power Pivot:

1. Install the Power Pivot add-in in Excel. This can be done by going to “File” > “Options” > “Add-Ins” > “Manage Add-Ins” > “Excel Add-Ins” > “Power Pivot for Excel”.
2. Load the Power Pivot add-in by going to the “Data” tab and clicking on “From Other Sources” > “From Power Pivot”. This will create a new empty Power Pivot workbook.
3. Import the required data sources into Power Pivot by clicking on “From Database” option.
4. Create relationships between different data tables using the “Manage Relationships” option.
5. Create a data model by selecting the columns you want to include in the data model.
6. Use the “PivotTable” and “PivotChart” options to create interactive data visuals.

Using Power View for Advanced Analytics

Power View is a powerful data visualization tool that can help create interactive and dynamic charts, graphs, and tables in Excel. Here’s how to use Power View:

1. Install the Power View add-in in Excel. This can be done by going to “File” > “Options” > “Add-Ins” > “Manage Add-Ins” > “Excel Add-Ins” > “Power View”.
2. Load the Power View add-in by going to the “Insert” tab and clicking on “Power View” option.
3. Connect to a data source and select the data range you want to use in Power View.
4. Use the “Fields” pane to drag and drop the data fields into the visualizations.
5. Customize the visualizations by using the “Design” and “Format” tabs.

Using Advanced Charts by Excel Campus for Advanced Analytics

Advanced Charts by Excel Campus provides various charting tools that are not available in Excel’s default charting tool. Here’s how to use this add-in:

1. Install the Advanced Charts add-in in Excel. This can be done by going to “File” > “Options” > “Add-Ins” > “Manage Add-Ins” > “Excel Add-Ins” > “Advanced Charts by Excel Campus.
2. Load the Advanced Charts add-in by going to the “Insert” tab and clicking on “Advanced Charts” option.
3. Select the chart type you want to create from the list of custom charts.
4. Customize the chart by using the “Design” and “Format” tabs.

 Using Cluster Analysis by AbleBits for Advanced Analytics

Cluster Analysis by AbleBits is a tool that can help group similar items together in a dataset. Here’s how to use this add-in:

1. Install the Cluster Analysis add-in in Excel. This can be done by going to “File” > “Options” > “Add-Ins” > “Manage Add-Ins” > “Excel Add-Ins” > “Cluster Analysis by AbleBits”.
2. Load the Cluster Analysis add-in by going to the “Data” tab and clicking on “Analyze with Cluster Analysis”.
3. Select the data range you want to analyze and click “OK”.
4. Choose the clustering method you want to use and click “Calculate”.
5. Analyze the clustered data using the “Data Mining” tab.

Using Excelerator BI for Advanced Analytics

Excelerator BI is a tool that can help create data models, run complex calculations, and create interactive reports and dashboards. Here’s how to use this add-in:

1. Install the Excelerator BI add-in in Excel. This can be done by going to “File” > “Options” > “Add-Ins” > “Manage Add-Ins” > “Excel Add-Ins” > “Excelerator BI”.
2. Load the Excelerator BI add-in by going to the “Data” tab and clicking on “Create a Table Query with Excelerator BI”.
3. Select the data source you want to use and click “OK”.
4. Use the “Data Model” tab to create data models and run calculations.
5. Use the “Report” tab to create interactive reports and dashboards.

Using Forecasting by Excel-Friendly for Advanced Analytics

Forecasting by Excel-Friendly is a tool that can help predict future trends based on historical data. Here’s how to use this add-in:

1. Install the Forecasting add-in in Excel. This can be done by going to “File” > “Options” > “Add-Ins” > “Manage Add-Ins” > “Excel Add-Ins” > “Forecasting by Excel-Friendly”.
2. Load the Forecasting add-in by going to the “Data” tab and clicking on “Forecasting”.
3. Select the data range you want to use and click “OK”.
4. Choose the forecasting method you want to use and adjust the settings if necessary.
5. View the forecast results using the “Forecast” worksheet.

Using Analyze Data with XLMiner Analysis ToolPak for Advanced Analytics

XLMiner Analysis ToolPak is a tool that provides various data analysis features such as regression analysis, factor analysis, and decision trees. Here’s how to use this add-in:

1. Install the XLMiner Analysis ToolPak in Excel.
2. Load the Analysis ToolPak add-in by going to the “Data” tab and clicking on “Data Analysis” > “Analysis ToolPak”.
3. Select the analysis tool you want to use and follow the prompts.
4. View the results in the new worksheet.

 Conclusion

Using Excel add-ins can significantly enhance data visualization for advanced analytics. We have explored some of the best add-ins for advanced analytics, including Power Pivot, Power View, Advanced Charts by Excel Campus, Cluster Analysis by AbleBits, Excelerator BI, Forecasting by Excel-Friendly, and Analyze Data with XLMiner Analysis ToolPak. Depending on your needs and the nature of your data, choose the right add-in that suits you best to create interactive visualizations and dashboards to make data-driven decisions.

 FAQs

Q. Why is advanced analytics important for data visualization in Excel?

Advanced analytics provides businesses with insights into their data, making it easier for them to make data-driven decisions. By using advanced analytics techniques in Excel, businesses can identify patterns in their data, forecast trends, and analyze complex data sets, leading to more informed decisions.

Q. What are the benefits of using Power Pivot?

Excel’s built-in functions often have limitations for large datasets. Power Pivot provides a more powerful alternative, enabling businesses to quickly analyze large data sets and create interactive visualizations and dashboards.

Q. How can I install and load the Power Pivot Add-In?

To install the Power Pivot add-in, go to “File” > “Options” > “Add-Ins” > “Manage Add-Ins” > “Excel Add-Ins” > “Power Pivot for Excel”. To load the add-in, go to “Data” tab and click on “From Other Sources” > “From Power Pivot”.

Q. What are the capabilities of Advanced Charts by Excel Campus?

Advanced Charts by Excel Campus provides a range of custom charts, including waterfall and stacked charts. These custom chart types can help businesses visualize their data in more precise and intuitive ways.

Q. How can I use Excelerator BI to enhance my data visualization?

Excelerator BI provides a range of features such as data profiling, data mappings, and data visualization tools, allowing businesses to create interactive and comprehensive reports and dashboards.

Q. What is cluster analysis, and how can it be used in Excel?

Cluster analysis is a data analytics technique used to classify items into groups or clusters based on their similarity to each other. This technique can be applied in Excel using the Cluster Analysis add-in by AbleBits, and can help businesses better understand their data and make more informed decisions.

Q. How can I harness the power of Forecasting by Excel-Friendly for data visualization in Excel?

Forecasting by Excel-Friendly uses various forecasting techniques to predict future trends based on historical data. By using this add-in, businesses can more accurately predict future trends, enabling them to make better data-driven decisions.