Excel is one of the most popular pieces of software that the business community uses to deal with their finances. It helps to manipulate and analyze data with ease. Eventually, if finance professionals do it right it can help to boost revenues. However, Excel has its disadvantages when dealing with large amounts of data. Here are the top 6 strong reasons Excel users should learn Python and consider it for their daily finance tasks.
Work with a lot of data is easier
Excel helps you to organize large amounts of data in worksheets and tabs. But you know that the process of data entry can slow you down. It may take more time for technical things rather than actual work. Python is one of the few programming languages that can help you to deal with lots of data. Moreover, compared to Excel there is a lower chance that the software will so, you will not lose your data.
Advanced machine learning capabilities
When it comes to machine learning, Python has more advanced capabilities than MS Excel. It makes the perfect medium for creating models when you integrate it with any machine learning packages.
Importing and manipulating data is powerful
There are specific Python packages that allow you to read data packages. Eventually, importing data from any website becomes easier and more accessible. Recording or merging data are another strong reason. This process is much easier in Python than in Excel. Finance professionals will agree that clearing datasets in Excel take a lot of time. But once you choose the right Python package, the process becomes simple.
It is easier to elaborate data
When you analyze data it is important to be able to explain your research to others. The idea is to make them reproduce your work with ease. In Excel, it can be quite challenging because there is no defined way to showcase your steps of analysis. Therefore, you will have to re-execute the steps. If you explain and reproduce your research in Python, by pressing Enter you can run the analysis and your audience can see your thought process.
Automate in a few steps
The good part about Excel is that it does not require writing codes. But if you want to automate the process of running a project, Excel is not your best friend. Python can help you write a simple script that imports your data and runs the same analysis regularly. You can use this automation process when entering your sales figures or any other numbers that change periodically.
Work with confidence from any platform
Some Excel users complain when their machines do not support Excel format or version. It makes them reinstall the software or update it on a regular basis. That is not the case for Python or any other programming language. Once you have the coding software, you can run it on any platform. Time to work with your data with more confidence.
The analysis above should not make you entirely quit Excel. Don’t get us wrong. MS Excel is amazing and extremely useful software. It is easy to enter data and work in a spreadsheet. However, having some coding knowledge will only benefit your productivity. We advise you to try learning something new and enrich your skill set. Hopefully, these 6 strong reasons Excel users should learn Python will make you rethink your personal development strategy.