Learn: The Quick & easy way on Excel Data Analysis Tutorial-A Step by-Step-Guide
In this video, you will learn:
1. Excel Data Analysis Tutorial-A Step by-Step-Guide
2. Descriptive analysis in excel
In excel, we have few inbuilt tools which are used for Excel Data Analysis tutorial- A Step by-Step-Guide. But these become active only when you select any of them. To enable the Data Analysis tool in Excel, go to the File menu’s Options tab. Once we get the Excel Options window from Add-Ins, select any of the analysis pack, let’s say Analysis Toolpack and click on Go. This will take us to the window from where we can select one or multiple Data analysis tool paks, which can be seen in the Data menu tab.
If you observe excel on your laptop or computer, you may not see the data analysis option by default. You need to unleash it. Usually, a data analysis tool pack is available under the Data tab.
Under the Data Analysis option, we can see many analysis options.
How to Activate Data Analysis Tool Pak in Excel
If your excel is not showing this pack, follow the below steps to unleash this option.
Step 1: Go to FILE.
Step 2: Under File, select Options.
Step 3: After selecting Options, select Add-Ins.
Step 4: Once you click on Add-Ins, at the bottom, you will see the Manage drop-down
List. Select Excel Add-ins and click on Go.
Step 5: Once you click on Go, you will see a new dialogue box. You will see all the
Available Analysis Tool Pak. I have all of them selected already and then click on Ok.
Step 6: Now, Once you did that, you will see these options under the Data ribbon when you navigate to the Analysis section on the right-hand side here.
How to Use the Data Analysis Tool in Excel?
Let’s understand the working of a data analysis tool with some examples. The first example I am going to show you under the Excel Analysis Tool Pak is the T-test Analysis
A t-test is returning the probability of the tests. Let’s look at the data table here representing the output result of two Departments' production patterns in a manufacturing setting.
Step 1: Select the Data Analysis option under the DATA tab.
Step 2: Once you click on Data Analysis, you will see a new dialogue box. Scroll down and find the T-test. Under T-test, you will three kinds of T-test; select the first one, i.e. t-Test: Paired Two Sample for Means.
Step 3: After selecting the first t-Test, you will see the t-Test: Paired Two Sample for Means options dialogue box pop up
Step 4: Under Variable 1 Range, select Dept. An output results and under Variable 2 Range, select Dept. B output results.
Step 5: in the Output Option, click Output Range and selects the cell where you want to display the results. I am going to choose cell E1 to display my result.
Step 6: Click on Labels because we have selected the ranges, including headings. Then, click on Ok to finish the test.
Step 7: From the D1 cell, it will start showing the test result.
The result will show the mean value of two Departments, Variance Value, how many observations are conducted or how many values are taken into consideration, Pearson Correlation, etc
If P (T less than=t) two-tail which is 0.563 is higher than the standard expected, then means the data is not significant.
However, we can also do the T-test by using the built-in function T.TEST.
Please note
We have many other analysis tests like Regression, F-test, ANOVA, Correlation,
Descriptive techniques.
We can add Excel Add-in as a data analysis tool pak.
Analysis tool pak is available under VBA too.
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