If you analyze data for a living or you\u2019ve recently been asked to understand or arrange complex statistics, you may want to consider using a pivot table. No matter the amount of data, pivot tables can make your life far easier. <\/p>\n\n\n\n
Pivot tables can also be exceptionally valuable tools for analyzing data when buying or selling businesses and can be used for various functions. I\u2019ll explore what a pivot table is and how to use them.<\/p>\n\n\n\n
Picture this scene<\/strong>: You open your spreadsheet to find what feels like thousands of numbers jumbled up. There are multiple columns and row labels that you need clarification on. Rather than spending hours making sense of the underlying data, you can use a pivot table instead. <\/p>\n\n\n\n A pivot table is a tool that allows you to extract meaning from a large data set by letting you select the data and group it in varying ways so you can draw conclusions. <\/p>\n\n\n\n But why is it called a \u201cpivot\u201d table? <\/strong>Well, because it allows you to pivot the data sources and see it from a different perspective. You\u2019re not changing anything about the data range; you\u2019re reshuffling it for better data visualization. <\/p>\n\n\n\n You\u2019re probably wondering what you can use pivot tables for<\/a>. Data analysts will use this tool to analyze their original data to uncover new findings quickly. Let\u2019s look at six possible scenarios where pivot table data might be helpful. <\/p>\n\n\n\n Data analysts commonly use pivot tables to see their total sales data in a new light. They can summarize and analyze sales data to uncover new patterns in a matter of seconds. At the same time, sales managers can quickly identify their best-performing products to optimize inventory levels and create a data-driven approach to marketing. <\/p>\n\n\n\n Without understanding how your customer base interacts with your products, you won\u2019t be able to create a marketing campaign that truly packs a punch. Luckily, a pivot table provides easy steps toward aggregating sales data for the purposes of marketing. <\/p>\n\n\n\n With your existing rows and columns full of valuable data points, you can analyze your campaign performance by segmenting click-through rates (CTR), conversation rates, and your return on investment (ROI). <\/p>\n\n\n\n Pivot tables can help you uncover valuable customer trends by examining your data from different angles. Whether it’s purchase behavior or demographics, pivot tables help you to identify patterns that may go unnoticed in your raw data.<\/p>\n\n\n\n Financial professionals rely on pivot tables to make sense of their complex financial data. Typically using Excel templates, adding pivot tables helps them to create insightful financial reports and quickly spot trends.<\/p>\n\n\n\n HR departments sometimes use pivot tables to analyze employee productivity quickly using individual and team performance data. <\/p>\n\n\n\n In business strategy, forecasting future sales is vital. Pivot tables help analysts study past sales to recognize patterns contributing to their future strategies. <\/p>\n\n\n\n Related: <\/strong>How to use data to drive up business value?<\/strong><\/a><\/p>\n\n\n\n Pivot tables are available on many spreadsheet applications, the most popular being Microsoft Excel and Google Sheets. We\u2019re covering five tools you can use to create your pivot table automatically and offering a how-to guide for each one. <\/p>\n\n\n\n Creating pivot tables in Excel is easy when you follow these steps. This will work in all versions of Excel. <\/p>\n\n\n\n Step one: Insert your pivot table<\/strong><\/p>\n\n\n\n Step two: Drop variables into the correct box<\/strong><\/p>\n\n\n\n Step 3: Set up the calculation<\/strong><\/p>\n\n\n\n Using pivot tables in Google Sheets is a handy way to analyze complex data. Let\u2019s go through our guide on using pivot charts for your tables in Google Sheets:<\/p>\n\n\n\n Step 1: Insert the pivot table<\/strong><\/p>\n\n\n\n Step 2: Choose where to create the pivot table<\/strong><\/p>\n\n\n\n Step 3: Customize the pivot table<\/strong><\/p>\n\n\n\n FIND OUT HOW MUCH YOUR BUSINESS IS WORTH<\/strong><\/p>\n\n\n\n Flippa\u2019s intelligent valuations engine is the industry\u2019s most accurate tool, taking into consideration thousands of sales and live buyer demand. Find out what your business is worth with our free valuation tool and plan your next move<\/a>.<\/p>\n\n\n\nWhat are Pivot Tables Used For?<\/h2>\n\n\n\n
1. Analyzing sales data by product, region, and time period<\/h3>\n\n\n\n
2. Tracking marketing campaign performance<\/h3>\n\n\n\n
3. Identifying customer trends<\/h3>\n\n\n\n
4. Managing financial data<\/h3>\n\n\n\n
5. Measuring employee productivity<\/h3>\n\n\n\n
6. Forecasting future sales<\/h3>\n\n\n\n
What Tools Can You Use to Create Pivot Tables?<\/h2>\n\n\n\n
1. Microsoft Excel<\/h3>\n\n\n\n
\n
\n
\n
2. Google Sheets<\/h3>\n\n\n\n
\n
\n
\n
\n\n\n\n
\n\n\n\n