As Microsoft explains, Power Pivot for Excel “enables you to import millions of rows of data from multiple data sources into a single Excel workbook, create relationships between heterogeneous data, create calculated columns and measures using formulas, build PivotTables and PivotCharts, and then further analyze the data so that you can make timely business decisions without requiring IT assistance.”
Power Pivot is a feature of Microsoft Excel that was introduced as an add-in to Excel 20, and is now a native feature for Excel 2016 and 365. What Is Power Pivot and Why Is It Useful? This Power Pivot tutorial is meant to serve as a guide for what you can achieve with this tool, and at the end, it will explore some sample use-cases where Power Pivot often proves invaluable.
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In this article, I will show you how to use Power Pivot to overcome common Excel issues and take a look at additional key advantages of the software using some examples. Despite its release eight years ago, however, most financial analysts still do not know how to use Power Pivot, and many do not know it even exists. Power Pivot offered next-generation business intelligence and business analytics functionality to Excel in its ability to extract, combine, and analyze almost limitless datasets without processing speed impairment. In 2010 however, Microsoft added a new dimension to Excel, called Power Pivot. More specifically, older-generation Excel’s infrastructure and processing limitations such as its row-limit of 1,048,576 rows, or inevitable processing slow-down where large data sets, data tables and interconnected spreadsheets are concerned, reduced its usability as a effective big data tool. With the arrival and exponential growth of big data, however, driven by decades of data aggregation and accumulation, the advent of cheap cloud storage and the rise of the internet of things-i.e., eCommerce, social media, and the interconnectedness of devices-Excel’s legacy functionality and capabilities have been pushed to their limits.
The Emperor’s New Clothes: Power Pivot TutorialĪcross the various fields and sub-sub-fields that span finance, financial analysis, financial markets, and financial investing, Microsoft Excel is king.
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