In this Excel article you will find out how great tool is Excel for actuaries.
Excel is wonderful tool to create a simple table, write easy formula or insert a chart. What if you are not a student anymore and need Excel for your work. Let's see what Excel can offer for actuaries.
Pivot tables for actuaries
In your everyday duties you will work with big sets of data in Excel. Pivot tables are made for you. Master pivot tables, satisfy your boss and save yourself a bunch of time!
Are you having some complicated calculation in mind? Maybe you need to take a decision based on complex data and looking for some hints? Solver add-in is here for you!
Might of Index function
Have you ever heard of the most powerful Excel function?
Probably you would chose Vlookup function. You can't be wrong more. The most powerful function is Index function. If you don't know it it's a high time to catch up.
Excel offers a lot about forecasting and actuaries forecast a lot. Master that to work more efficiently. Forecasting is what you do being actuary.
See also what Excel forecast function can offer you.
Seeing the risk with Excel
Everyday you handle with a risk. Excel helps you to calculate it.
Excel does great in calculating probability. See yourself to calculate how probable your promotion is.
Are you the ambitious one? Don't like to waste your time? Automate boring task and record macro. See how simple that is.
Usefool Excel functions
There are many other built-in functions in Excel:
- SUM function - do you think adding is simple and easy? See how powerful that might be
- Match function - the one you HAVE TO know to build Excel formulas
- Indirect function - to find what you are looking for
Still not enough? Create own Excel function and become the best actuary in the world.