Excel is a part of the Microsoft Office suite used to create worksheets (spreadsheets) and record data in the form of tables.
Businesses use Excel to organize their data into something useful to perform business analysis, reporting, operations management, human resources management efficiently and make informed business decisions. It can display data in histograms, charts, graphs, and three-dimensional graphical display, which helps understand the data more accurately and calculate statistics or generate pivot tables to gain insights. However, it starts showing limitations when the volume of data increases.
Kyvos overcomes this limitation by transforming Excel into a heavy-duty BI tool by enabling you to run trillions of rows of data and get a response in sub-seconds.
Excel contains many functions, formulas, and shortcuts that can be used for businesses’ financial, statistical, and engineering requirements. With Kyvos, you can define all your business logic in a universal semantic layer so that all your business users have a single source of truth.
Some business applications of Excel are-
- Financial Accounting: Excel is used for various accounting activities such as expense tracking, budget plans, financial reports, forecasts, loan calculator, etc.
- Charting: Excel transforms data into a more lucid format such as Pie charts, column charts, scatter charts, bar charts, line charts, area charts, pivot tables etc.
- Inventory Tracking: Using Excel, individuals and business owners organize their inventory data into three categories – product, orders and sales. This helps them to track their inventory efficiently.
- CRM: Small businesses use Excel to store the contact information of their clients and prospects. It acts as a customer database for them.
Benefits of using Excel with Kyvos
- Unmatched performance without limitations – Excel is a scalable tool but not scalable enough. With Kyvos, you will no longer have to deal with scalability issues. You can analyze trillions of rows of data in few seconds as all the query combinations are pre-processed in advance.
- No more redundancy – With Kyvos in the picture, you don’t need to create complex formulas and functions for various users, tools, and reports. You can define all your business logic in the Kyvos universal semantic layer, and every user can have a unified view of it.
- Enhanced Security – The Kyvos semantic layer enables you to define data security measures and dimensions to prevent your data from unwanted access and sharing.
- No more scaling issues – Kyvos Smart OLAP™ technology enables you to perform multi-dimensional analysis on your data stored in Excel. You don’t need to learn a new tool.