5 Free MS Excel Add-ins for Data Analysis
Excel is widely accepted as a feature rich data analysis tool, sometimes also referred to as a number cruncher. Its user friendly interface and available help makes it one of the most acceptable tools around the world. Excel bundles data manipulation features with statistical and mathematical functions which are utilized for qualitative analysis. Whenever I think of doing any computation or analysis, Excel comes to my mind first because of its varied functionalities.
There are various add-ins for Excel which makes your data analysis quite easy. You can utilize any of the following Excel Add-ins based on your data and analytical requirements irrespective of whether you are a researcher, a student or a business man. A number of data analysis tools are accessible via Data → Analysis → Data Analysis. If this option is not visible you may need to first install these add-ins by selecting Office Button → Excel Options → Add-Ins in Excel 2007 or File → Help → Options → Add-Ins in Excel 2010/2013, and clicking the Go button at the bottom of the window.
Let us see some of these add-ins for data analysis, not in any particular order:
1. Solver Add-in
Solver falls under the category of What-if Analysis tools which can solve problems by enabling a target cell to achieve some goal. It solves a problem by adjusting a number of input cells according to a set of criteria or constraints defined by user. Solver uses techniques from Operations Research to find optimal solutions for problems involving decision making where the goal of the problem is to maximize or minimize some target value.
Once Solver is added to Excel, it can be accessed from Data → Analysis → Solver. Linear Programming Problems can be solved using Solver given some decision variables and constraints on these variables.
Solver is provided by Microsoft with Excel 2007 and later for free.
2. Analysis Toolpak
Analysis Tookpak adds additional analysis functions such as statistics and engineering functions which are not available in Excel. You have to install the Analysis Toolpak in order to use these functions.
The ToolPak contains a number of powerful statistical tools which lets you analyze your data in greater detail. It can be used to perform descriptive analysis and allows you to understand the behaviour of data by offering you various tests including correlation and regression. Forecasting and Sampling options lets you draw conclusions out of the available data. After installation, Analysis Toolpak is available under Data → Analysis → Data Analysis.
Toolpak is also provided by Microsoft with Excel 2007 and later for free.
3. PowerPivot
PowerPivot lets you conduct powerful Business Intelligence (BI) on extremely large sets of data. Although other enterprise BI tools such as SAS and Business Objects are available, but in the form of Excel add-in PowerPivot has made life easier for those business users who are familiar with Excel and do not want to switch to other tools for carrying out business intelligence tasks.
Excel as such is able to handle data from external sources, but when it comes to establish relationship between the data obtained from these sources, it sometimes faces problems. PowerPivot supports data sources like Access, Oracle, SQL Server, Teradata, DB2, Sybase, Informix and even a simple text file. It lets you import data from variety of sources and allows combining them for further processing with addition of some new easy-to-use functions.
PowerPivot is provided by Microsoft with Excel 2013 for free and for earlier versions it is available for download from Microsoft Website.
4. Power Query
As the name suggests, Power Query is query driven add-in which supports data from external sources in variety of formats like csv files, databases including Oracle, SQL Server, Excel tables and data from URLs in the form of web pages. In addition to bringing in the data from multiple sources, it lets you transform and reshape your data making your data handling tasks easier.
Once a query is set up, it lets you perform many repetitive tasks with just few clicks like generating charts, data summaries and reports for data visualization and decision making. An interesting feature of Power Query is unpivoting which is referred to as normalizing your data back to tabular format. If you are an Excel user and are habituated to write macros to transform your data, you would really like to leave your traditional macros for Power Query as it is an easy alternative to VBA to do your job quickly without coding.
Power Query is provided by Microsoft with Excel 2016 for free and for earlier versions it is available for download from Microsoft Website.
5. Table Analysis Tools
Table Analysis Tools provided by Microsoft is a favorite choice for those who intend to work on complex data without having to worry about selecting and writing algorithms for data analysis. It not only allows you to understand the distribution and type of data you are working on, but also lets you configure complex parameters which is otherwise a difficult and time-consuming task. It sets the parameters based on your data to ensure that the results are valid.
While working on large amount of data, some of the challenging tasks are finding the most influencing parameter, handling missing data, dealing with outliers etc. All these challenges can be easily dealt using Table Analysis Tools’ features.
The simplicity, versatility and power of Excel have made it a popular choice for data analysis in addition to basic data computations. So, if you like to do financial modeling and analysis, budgeting, human resource planning, forecasting, product management etc. have a look at the numerous functions and add-ins offered by MS Excel.
Hey very nice blog!
Thanks for finally talking about Excel Add-ins; Liked it!
Hi there. I am so thrilled I found your webpage, I really found you by error, while I was researching for something else. Anyways I am here now and would just like to say many thanks for a marvelous post and a all round interesting blog (I also love the theme/design). I don’t have time to browse it all at the minute but I have book-marked it and also added in your RSS feeds, so when I have time I will be back to read much more, Please do keep up the fantastic job.
Good way of explaining, and nice piece of writing.
Very energetic blog, I loved that a lot. Will there be a part 2?
Good post. It’s always helpful to read articles from authors.
I really enjoyed the article. Keep writing.
Way cool! Some extremely valid points! I appreciate you writing this write-up plus the rest of the site is also really good.
Hi, just wanted to mention, I liked this article. It was practical. Keep on posting!
I blog frequently and I truly thank you for your content. This article has really peaked my interest. I am going to bookmark your site and keep checking for new details about once per week.
I’m extremely inspired together with your writing abilities and also with the layout of your blog. Stay up the nice quality writing, its uncommon to look a great weblog like this one nowadays..
Hello, i like the way you post on your blog.
I like this website. It’s a masterpiece!
Amazing! Its really awesome piece of writing, I have got much clear idea from this post.
Ѕimply desire to say your articⅼe is as amazing. The clarity in yoᥙr post is simply nice and I can assume you are an expert on this subjеct. Fine with your permission allow me to grab your feed to keep ᥙp to date with forthcoming post. Thanks a million and please keep up the rewarding work.
Usually I do not read post on blogs, but I would like to say that this write-up very forced me to take a look at and do so! Your writing style has surprised me.
Thanks, very nice post.
You sure know what you’re talking about. Everyone is going to soon be visiting your site.
Say, you got a nice article post. Really looking forward to read more. I will read on.
Very good article post. Really thank you!
Good site you have got here.. It’s hard to find good quality writing like yours nowadays. I truⅼy appreciate individuals ⅼike you!
Take care!!
Thanks a lot for the article post. Really looking forward to read more.
You’ve got a nice article post. Really looking forward to read more. Will read on.
Pretty valuable material. Overall I believe this is worth a bookmark, thanks.
Thanks a lot for the article post. Really looking forward to read more.
I gotta favorite this internet site. It seems very helpful.
Thank you for sharing your blog. I truly appreciate your efforts and I will be waiting for your next write ups. thank you once again.
It is hard to come across well-informed people on this subject, however, you sound like you know what you are talking about! Thanks.
Thanks a lot for the article post. Really looking forward to read more.
Say, you got a nice article post. Really looking forward to read more. Will read on..
I gotta favorite this internet site it seems very helpful very useful.
Yeah bookmaking this wasn’t a bad determination. Outstanding post!
Some truly prime content on this website. saved to my bookmarks.
Pretty valuable material. Overall I believe this is worth a bookmark, thanks.
Thanks a lot for the article post. Really looking forward to read more.
I gotta favorite this internet site it seems very helpful very useful
I just want to tell you that I’m newbie to blogging and honestly enjoyed your blog site. Probably I’m planning to bookmark your blog post . You certainly come with exceptional writings. With thanks for sharing your webpage.
Very good article. Really thank you! Will read again.
I like the helpful information you provide in your articles. I’ll bookmark your blog and check again here regularly. I am quite sure I’ll learn many new stuff right here! Good luck for the next!
V helpful in data analysis
I appreciate you for actually being simply considerate and for picking out varieties of very good topics most people are really desirous to discover.
Hi there, its wonderful paragraph and completely defined, keep it up all the time.
The solutions around are incredibly functional and have continually encouraged me to make use of these.
Needed to draft you this bit of note so as to say thanks with the lovely pointers you’ve contributed on this website. I am certain there are a lot more pleasurable times up front for individuals that read carefully your website.
Good day! I simply would like to give an enormous thumbs up for the great info you have here on this post. I will be coming back to your weblog soon.
I am just beginner to weblog and honestly savored this web blog. Most likely I’m likely to bookmark your blog post . You definitely have great well written articles. Cheers for sharing with us your website.
I wanted to compose a word to express gratitude to you for the awesome guidelines you are sharing on this website. My time consuming internet lookup has at the end of the day been paid with incredibly good facts and techniques to share with my company. I would express that many of us website visitors are unquestionably fortunate to be in a notable website with very many outstanding professionals with helpful points. I feel really happy to have come across your entire site and look forward to really more pleasurable minutes reading here. Thanks a lot again for a lot of things.
WONDERFUL Post.thanks for share..
There are definitely numerous details like that to take into consideration.
My spouse and i felt contented that Jordan could finish up his basic research while using the precious recommendations he obtained through your site. It is now and again perplexing just to find yourself handing out points that many many people may have been making money from. Therefore we figure out we now have the website owner to thank for that. Those illustrations you have made, the straightforward site menu, the relationships you make it possible to promote – it is mostly excellent, and it’s really helping our son in addition to us understand this idea is enjoyable, which is quite indispensable.
I simply want to mention I am just very new to blogging and site-building and definitely savored you’re page. Likely I’m likely to bookmark your blog post . You amazingly have perfect posts. Many thanks for sharing your website page.
I blog often and I genuinely appreciate your content.
This great article has truly peaked my interest.
I will bookmark your site and keep checking for new details about once
a week. I opted in for your Feed too.
I think this is among the most important information for me. And i am glad reading your article. But should remark on some general things, The website style is great, the articles is really nice : D. Good job, cheers
Major thanks for the post.Thanks Again. Cool.
Aw, this was a very good post. In notion I have to devote writing like that moreover – taking time and actual effort to manufacture a great article… but what can I say… I procrastinate alot and by no indicates apparently go accomplished.
What i do not realize is in fact how you’re now not really a lot more well-liked than you might be now. You already know therefore considerably relating to this matter.
Only wanna admit that this is extremely helpful, Thanks for taking your time to write this.
Regards for helping out, good info. “Riches cover a multitude of woes.” by Menander.
Really informative especially for data analytics. Thanks .
I just want to say I’m new to blogging and site-building and actually liked your blog site. Probably I’m going to bookmark your blog . You absolutely come with tremendous well written articles. Thanks a bunch for revealing your web site.
THANKS for the great Excel tools but would it be possible to hyperlink the Tool names to download or install site?
Excel Add-ins are supplementary programs which offer complex statistical and analysis facilities to you with more insight into your data. These are freely available with your MS Excel installation, you just have to load and activate them. As mentioned in the post, you can access these from Excel Options → Add-Ins in Excel 2007 or File → Help → Options → Add-Ins in Excel 2010/2013 under Excel Add-ins and/or COM Add-ins. If you Add-in is not listed there, you can click Browse to locate it. If not, you can also install your add-in from official website of Microsoft.
I cannot thank you enough for the article post. Cool.
I simply want to mention I am all new to blogs and really liked your website. Almost certainly I’m planning to bookmark your site . You really have amazing well written articles. Regards for sharing with us your webpage.
Nice post. I was checking constantly this blog and I am impressed! Very helpful info specially the last part 🙂 I care for such information much. I was seeking this certain information for a long time. Thank you and good luck.
Its like you read my mind! You appear to know a lot about this, like you wrote the book in it or something. I think that you could do with some pics to drive the message home a little bit, but instead of that, this is magnificent blog. A fantastic read. I will certainly be back.
I think this is one of the most important info for me. And i am glad reading your article. But want to remark on few general things, The web site style is wonderful, the articles is really nice : D. Good job, cheers
I’m more than happy to discover this website. I wanted to thank you for your time for this particularly fantastic read!! I definitely enjoyed every little bit of it and I have you saved as a favorite to look at new stuff on your blog.
I’ve been browsing online more than 2 hours today, yet I never found any interesting article like yours. It’s pretty worth enough for me. In my opinion, if all webmasters and bloggers made good content as you did, the internet will be much more useful than ever before.
This website was… how do I say it? Relevant!! Finally I’ve found something which helped me. Appreciate it!
I every time spent my half an hour to read this website’s posts every day along with a mug of coffee.
Nice blog! Is your theme custom made or did you download it from somewhere? A theme like yours with a few simple adjustements would really make my blog shine. Please let me know where you got your design. Many thanks