In Excel, VLOOKUP stands for vertical lookup. It can help to find specific information in large data tables such as an
inventory list of parts or a large membership contact list.
On the other hand, companies can use spreadsheets for collecting, sorting, and analyzing
data. It helps organizations make strategic decisions based on the data.
It also helps to keep track of production, inventory and finances of
the company which are all important when making decisions. To make good
strategic decisions, thorough organizational planning is required and
hence companies use spreadsheets to calculate balance sheets, profit and
loss accounts and cash books.
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