How Do I Create A Cash Flow Chart In Excel What Are the Top 10 Microsoft Excel 2016 New Features?

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What Are the Top 10 Microsoft Excel 2016 New Features?

As one of the key applications in Microsoft Office, Excel is already packed with incredible functionality. The latest version, Excel 2016, adds new capabilities from databases to handwriting tools. Let’s take a closer look at these new features in Excel 2016.

1. New types of charts in Excel

The ability to visualize data with an Excel chart has always been a valuable and powerful capability. Excel has six new charts to show off your work. New chart types include Waterfall, Tree Map, Pareto, Histogram, Box and Whiskers, and Sunrays.

Pareto first sorts the columns by largest and shows which columns have the greatest impact or the greatest return. Use the data from this chart to decide where to allocate your resources.

A waterfall (aka ‘flying brick’ chart) provides a visual method for viewing a range of positive and negative data, such as monthly cash flows or stock prices. Since the bars seem to float between the start and end columns, it looks like a waterfall, hence the name. The waterfall chart is one of the more interesting and visual new features of Excel 2016.

2. Major database improvements

Excel 2016 now comes with built-in functionality that makes it easy to transform and query your data. These new database enhancements, which include merging some of the previous add-ons like Power Pivot and Power Query, more than justify the upgrade. Find them in the Get & Transform group on the Data tab.

3. Tools for quick analysis

Quick analysis tools are a real time saver, helping you move in the right direction with your data. Once you have completed the spreadsheet or table, select the entire range. Look for the lightning bolt icon on the worksheet in the lower right corner of the range: click this icon and a pop-up menu will appear showing several options for what to do with this data.

In Excel 2016, business analytics is now easier and faster, with simplified data analysis, new predictive capabilities, and new built-in functionality for obtaining and transforming data. Excel 2016 is also intentionally compatible with Power BI, a new tool for visualizing data and creating interactive reports.

4. Easier collaboration and sharing

Collaboration is increasingly integrated into Office 2016. Choose Share on the Ribbon to share your workbook with others on SharePoint, OneDrive, or another online location.

For files stored on OneDrive for Business or SharePoint, you can go to File > History to see a complete list of changes made to your workbook and even access earlier versions.

5. 3D / Power Maps

Excel’s popular 3D geospatial visualization tool, Power Map, has been renamed and is now built into Excel 2016. With these tools, you can create a visual story of your data, for example, you can compare data such as temperature, or rainfall, or the population of a certain area over of a certain time, shown in three-dimensional images. These tools can be found by clicking the 3D folder on the Insert tab.

6. Pivot Table Improvements

Excel’s PivotTables are a flexible and powerful way to analyze data, and they’re even better with these new features in Excel 2016:

  • Automatic relationship detection which discovers and creates relationships between the tables used for your workbook’s data models.
  • Automatic time grouping helps you use time-related fields, such as year, quarter, month, by automatically detecting and grouping them on your behalf. Although time grouping was available in earlier versions, it is now automatic and much easier in Excel 2016.
  • PivotTable search options the field list helps you get to the fields that are most important to you in the entire dataset.

7. Graphical improvements

Formatted quick shapes, such as colorful squares with rounded edges, are available in Word and PowerPoint for many versions. Finally, Excel 2016 has new shape capabilities with preset styles that help you quickly and easily add beautifully designed shapes to your workbooks.

The new Excel 2016 templates come with sample data and charts, plus hands-on exercises that teach you how to use each template.

8. Ink equations

Do you want to add a math equation to the worksheet? With the new Ink Equation feature, you can turn your handwritten equations (or math problems) into text, so you can insert them into your documents. You can use any tool that suits you best – a mouse, a digital or light pen, or even your fingers – to write out mathematical equations.

9. Tell me

Look on the right side of the Excel 2016 ribbon menu after the last tab to see a text box with a light bulb that says “Tell me what you want to do.” Just type in words and phrases that relate to the next steps you want to take and quickly navigate to the features or actions you want to use. You can also choose from Recently Used Searches and use this option to dig into other help choices.

10. Smart search

The Smart Lookup feature, available in most Office 2016 programs, gives you access to quick searches within Excel 2016. Also called “Insights” from Bing, it pulls information from a variety of sources such as Wikipedia, Oxford Dictionaries, Bing Image Search, and Bing tape.

Just place the cursor on any word or highlight any expression in the spreadsheet and click with the right mouse button. Then select Smart Lookup from the drop-down list. The “Insights” panel opens and displays information and images about the selected topic.

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