10 Statistical Functions in Excel every Analytics Professional Should Know
Overview
- Microsoft Excel is an excellent tool for learning and executing statistical functions
- Here are 12 statistical functions in Excel that you should master for a successful analytics career
Let’s Excel in Statistics!
“Statistics is the grammar of Science.” – Karl Pearson
Let’s make that a bit more relevant for us – Statistics is the grammar of “Data” Science. You’ll notice that almost every successful data science professional or analytics professional has a solid understanding of statistics – but does that mean you need a master’s degree in the subject?
Absolutely not!
We’ll approach this article using the famous Pareto Principle – 80% of the consequences come from 20% of the causes. Therefore, we’ll focus majorly on 20% of the concepts and functions that come in handy 80% of the time! Now, the question as an analyst is, how to get started with implementing statistics?
Sure, you can implement and practice these concepts in programming languages like Python and R. But hold your horses for a second and think – what’s the most commonly used tool in most organizations?
It’s Microsoft Excel! Honestly, Excel is