Importance of Data Analysis in Google Sheets

In order to uncover patterns and trends from massive datasets, data analysts use complex statistical models and powerful computational techniques. Data analytics is mostly used to interpret data. A spreadsheet can help you collect and organize data, but it cannot assist you to grasp the subtleties of your data by itself.

To establish the regions of interest and derive meaningful actionable inferences from them, you will need to compare and filter the data with something. This is where the concept of functions comes into play. A quick check, for example, can give you an idea of which products in your portfolio of the company have already been performing well. However, Data Analysis is required to determine which goods are making more profits and growing sales.

This is why you need Google Sheets Data Analysis to make sense of your data to make data-driven actions to increase productivity and efficiency, hence improving business growth.

List of Data Analysis Function in Google Sheets

There are multiple data analysis functions in Google Sheets that help us to understand the dataset. However, on this page, let us understand 4 important data analyses which are extremely useful in Google Sheets.

VLOOKUP Data Analysis Functions in Google Sheets

Searching for information is a big part of Data Analytics. When you’re working with a single sheet with a few number items, the problem is really not apparent, and when you’re dealing with numerous spreadsheets with hundreds of lines of data, you will need a more efficient way of searching for information.

This problem is addressed by VLOOKUP. It stands for vertical lookup since it searches vertical columns for a certain value. As a result, it is recommended that you employ columns as fields to make VLOOKUP operations easier.

This function’s only drawback is that it requires a precise value. VLOOKUP should be avoided if you are seeking an approximate match.

Check Ultimate Guide for VLOOKUP Functions Here

ABS Data Analysis Function in Google Sheets

The absolute function is otherwise known as the ABS function in Google Sheets. This function is equivalent to modulo’s function. ABS function calculates a number’s absolute value while treating negative and positive numbers equally.

When ABS is applied to a group of cells containing a variety of numbers, the result is a consistently positive spread that differs only in magnitude, not polarity. This is especially important when combining data from multiple columns into a complex computation, as a single negative value might throw a wrench in your results.

Know How To Sort Data using Mulitple Functions in Google Sheets

INDEX and MATCH Data Analysis Function in Google Sheets

In the provided spreadsheets, the MATCH function can look for cells that contain an approximate value. It gives the target cell’s relative position inside a range, which is useful when sorting data.

The MATCH function works in conjunction with the INDEX function, allowing it to be used in place of the VLOOKUP function.

This is feasible since INDEX relays the value of the cell with the provided index, whereas MATCH allows you to locate the index of the value you require. Similar to the VLOOKUP function, you may use both of these functions to look for values in an area throughout the spreadsheet.

Know How to Use Index and Match Function in Google Sheets

Macros for Data Analysis in Google Sheets

Macros are user-defined functions that can do all manual activities. Macros are typically used to delegate any large-scale, repetitive job. As a result, Macros can assist you in reducing errors and freeing up time spent managing the spreadsheet.

Macros can be made in one of two ways: by scripting or by recording. Scripting macros require coding skills but give the user a lot of control and power. The simplest method of producing a macro is to record it; nevertheless, this method has several limitations.

You can start recording in a blank sheet by navigating to Tools > Macros > Recording Macro. This brings up a dialogue box where you can choose between two options:

• Relative Reference: It adapts based on the cursor’s position. So, if you record a macro that edits the properties of two cells to the left of your cursor when the macro is called, it will affect those cells that are in the same relative position as your cursor.
• Absolute Reference: This sort of reference saves the exact locations of the cells you alter, so the identical cells will be modified each time you execute the macro. As a result, this option is only relevant for configuring the header row or title cells.

Know How to Convert Excel to Google Sheets using Macros