Excel
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About Excel
Microsoft Excel is the world's most widely used spreadsheet application, first released in 1985 and part of Microsoft Office/Microsoft 365. Excel has over 1 billion users and is the industry standard for financial modeling, data analysis, and business reporting. Excel's power comes from its deep analytical capabilities: Power Query (data transformation), Power Pivot (relational data modeling), DAX (data analysis expressions), complex pivot tables, 500+ functions, VBA macros, and Excel Add-ins. Excel 2024 features Copilot AI integration for formula assistance, data analysis, and chart creation. For large datasets, Excel handles up to 1,048,576 rows x 16,384 columns. Excel is the lingua franca of business and finance — investment banking, accounting, and consulting firms rely on it for complex financial models. Microsoft 365 (which includes Excel) has 400+ million commercial subscribers.
Frequently Asked Questions
Why do investment banks still use Excel?
Excel remains dominant in finance because: (1) Financial models require extreme formula flexibility and custom calculations that database tools don't match; (2) Decades of model templates and institutional knowledge are built in Excel; (3) Auditability — auditors and clients can inspect every formula in an Excel model; (4) VBA macros automate complex workflows; (5) Excel's one-time-purchase accessibility vs database software costs. Despite alternatives, the financial industry's deep Excel lock-in means it remains the standard.
Is Excel free?
Excel Online (web version) is free at office.com with a Microsoft account, with limited features. Full Excel requires Microsoft 365 ($69.99/year Personal, $99.99/year Family) or the one-time Microsoft Office Home 2024 ($149.99). Free alternatives include Google Sheets (full-featured online) and LibreOffice Calc (full-featured offline). For most personal use, Google Sheets handles standard spreadsheet tasks for free.
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