How to Use AI to Analyze Data in Microsoft Excel
Aug 14, 2023
How to Use AI to Analyze Data in Microsoft Excel
In this Excel tutorial, we will show you how to use AI (Artificial Intelligence) in the Analyze Data functionality in Microsoft Excel. We will show you how to ask custom questions to Microsoft Excel’s AI. We will also show you how to easily get insights about your data using AI. https://www.myexcelonline.com/107-186 …https://www.myexcelonline.com/101-exc …https://www.myexcelonline.com/107-3.html https://www.myexcelonline.com/107-59 …https://www.amazon.com/dp/1700300911 https://www.amazon.com/dp/1700729675 https://www.amazon.com/101-Best-Excel …https://www.myexcelonline.com/microso …https://www.youtube.com/@MyExcelOnlin …https://www.myexcelonline.com/ https://linkedin.com/in/johnmichaloudis https://www.instagram.com/myexcelonline/ https://www.pinterest.com/myexcelonli …https://www.facebook.com/groups/myexc …https://twitter.com/myexcelonline
Content
0.12 -> - [Instructor] Hi, and welcome
back to myexcelonline.com.
2.7 -> Today, we are going to go over
4.77 -> how to use AI in Microsoft Excel.
9 -> If you want to learn more about
Microsoft Excel and Office,
11.85 -> join our academy online course,
14.01 -> and access more than 1000
video training tutorials
17.73 -> so that you can advance your level
19.38 -> and get the promotions,
pay raises, or new jobs.
22.56 -> The link to join our academy online course
24.84 -> is in the description.
27.12 -> Let's go back to one of
our earlier spreadsheets
29.49 -> from one of the dashboards that
we made in a previous video.
33.63 -> Right here, I have a bunch
of budgeting information
37.44 -> for my own personal home budget.
39.93 -> I have my data by date,
what store I went to,
43.08 -> the amount I spent,
44.19 -> and what category I would
like to keep track of
46.56 -> for that expenditure.
49.26 -> But here's something really important
50.76 -> when dealing with data and AI,
53.76 -> it's a good idea to have a
header on your data column,
58.14 -> because it will be much easier
to reference that data column
61.23 -> when you ask your AI-type questions.
64.514 -> Now, just keep in mind that
the AI in Excel isn't perfect.
67.77 -> It's not going to get
69.27 -> your more complicated questions answered,
72.81 -> so we still need humans to
be in there analyzing data
76.14 -> on a really complicated level.
77.76 -> But the AI is really
helpful inside of Excel,
80.55 -> especially if you are a new user to Excel,
83.43 -> it can be a great training tool for you.
86.58 -> So how do we access
Excel's AI functionality
89.76 -> when we are inside of Excel?
92.16 -> Let's go over to Home, and
go all the way to the right
96.66 -> over here to this group called Analysis,
100.32 -> which has this button called Analyze Data.
104.31 -> So if I click on that,
this sidebar will appear
108.57 -> where I can ask a lot
of questions to Excel,
111.78 -> and this is where Excel's
AI built-in functionality
115.59 -> can be accessed.
117.87 -> So the first thing I
would like to show you
119.79 -> when using Excel's AI is how
you can just start typing
123.93 -> some general questions over
here in the question box
127.95 -> and ask Excel to analyze
your data for you.
131.76 -> So using my headers up here for my data,
135.63 -> I'm going to type in amount
by category bar chart,
141.93 -> and hit enter.
144.21 -> And you can see that Excel
has created a bar chart for me
147.78 -> with the sum of the amount
for each one of my categories
151.53 -> over here in my category
column and my amount column.
157.68 -> If I would like, I can insert
this pivot chart right here
161.76 -> onto a new tab and customize it
164.19 -> to the look that you would like to have.
166.95 -> I can also go in here and
type amount by category
171.81 -> by month, and hit enter.
174.87 -> And you can see down here,
176.7 -> that I'm getting a
pivot table for my data.
180.42 -> And at the top, I can see
that it's all of 2023,
183.06 -> but the month is starting to appear here,
185.64 -> and I can see the categories down here,
187.77 -> and the sum of those categories per month.
190.41 -> So I can see that just by
typing a couple of the keywords
194.13 -> that are inside of my headers up here,
197.34 -> that I can get some useful data
200.49 -> in the form of a pivot table down here.
203.88 -> I can also type this in, max
of amount by category by month,
213.78 -> and I can see down here that
I'm getting the beginnings
216.57 -> of a pivot table that show my
totals by month, by category,
223.47 -> and by the max of each one
of those for the month.
228.21 -> So if I were to look here
for the month of November,
231.78 -> and I were to look at
each one of my foods,
234.06 -> I have 157 here, I have 250
here, and I have 125 here.
241.53 -> And so I know that the
max of those three is 250
244.65 -> and that is what's showing up
right here in the pivot table.
248.52 -> So Analyze Data, so far, we
have seen that you can get
251.82 -> your results back in the form of a chart,
255.51 -> or you can get them back in
the form of a pivot table,
258.78 -> and you can either take that
chart or that pivot table
261.81 -> and insert it into your
current spreadsheet.
264.81 -> If you are liking this video,
please give us a thumbs up
267.42 -> and subscribe to our channel,
and hit the bell button
270.12 -> to get notified when we
release our weekly videos.
274.2 -> So let me show you some
other kinds of questions
276.3 -> that you can ask.
278.49 -> If I hit the X here, I will
clear out my question box.
282.78 -> So I'm just going to type,
are there any category trends?
288.96 -> And I can see down here,
290.28 -> that there are some trends on my category.
292.44 -> There's something in here that is higher
294.66 -> than everything else,
and if I scroll down,
298.53 -> I can see that a chart has
been created down here,
302.16 -> and it tells me that
rent is noticeably higher
306.24 -> than the rest of my data.
307.86 -> And for me, for my
expenses, that makes sense.
311.58 -> But if you're using this
in a business environment,
313.71 -> there might be some data
that you don't realize
316.71 -> is higher than everything else.
318.18 -> Or if you're using this in quality,
319.83 -> and you have a certain
number of rejects by machine,
322.74 -> you may be able to see some
of those insights as well.
326.52 -> I can also ask, instead
of trends, I can also ask,
329.76 -> are there any category insights?
332.28 -> That's another good word
to be using with Excel AI.
335.46 -> So if I hit enter,
336.84 -> I can see I'm getting
something very similar,
339.42 -> showing me that my rent is higher
342.66 -> than all of my other expenses.
345.75 -> And let's close Analyze Data
347.43 -> and just go back to Home
and open it up once again.
350.82 -> I wanted to show you,
352.26 -> when you haven't been
asking lots of questions,
354.96 -> that Excel suggests some
questions that you could ask.
360.54 -> And if I scroll down,
362.4 -> I can see that I could
get amount by category.
366.24 -> I can also see that there's outliers.
369.87 -> I can also see that rent
is my biggest expense.
374.4 -> And down here the same thing.
376.53 -> This one though is doing it by store.
378.36 -> If you look over here, I
just happen to put rent
382.14 -> as the name of my store,
383.61 -> which also matches the
name of my category.
387.12 -> So it just looks a little
confusing in my case,
388.98 -> because I've used rent here and rent here.
392.67 -> And if I hit show more,
395.1 -> I can see where I spend most of my money
397.44 -> in my entertainment category.
400.2 -> And I only have a couple stores for that.
403.8 -> I have theater and I also have movies.
406.11 -> So I can see that I've
spent more at the theater
408.33 -> than at the movies.
410.4 -> Same thing for my utilities.
412.08 -> I can see I spend more on my heating
414.21 -> than my other, what I called, stores.
416.55 -> And my other stores for my
utilities would be water,
421.95 -> right here, and electricity right here.
425.82 -> So hopefully, this gives you a good idea
428.16 -> of the different suggestions
you can ask Excel's AI for,
433.14 -> for different ways of looking
at your data, and maybe,
435.9 -> AI will come up with an option
438.57 -> that you haven't already thought of,
440.1 -> but you thought might
be a really useful way
442.71 -> to be displaying your data.
445.23 -> So hopefully that gives
you a good introduction
447.45 -> to AI in Microsoft Excel,
449.88 -> and some of the options that
you have for asking questions.
453.57 -> If you have any questions
or comments on this video,
455.52 -> please leave them below in the comments
456.87 -> and we'll get back to you.
458.04 -> Thanks for watching, and
see you again next time.
460.62 -> If you want to learn more about
Microsoft Excel and Office,
463.5 -> join our academy online course
465.66 -> and access more than 1000
video training tutorials
469.38 -> so that you can advance your level
471.03 -> and get the promotions,
pay raises, or new jobs.
474.21 -> The link to join our academy online course
476.46 -> is in the description.
477.57 -> - If you like this video,
subscribe to our YouTube channel.
480.75 -> And if you're really serious
482.01 -> about advancing your
Microsoft Excel skills,
485.4 -> so you can stand up from the crowd
487.11 -> and get the jobs, promotion,
488.88 -> and pay raises that you deserve,
490.89 -> then click up here and join our
academy online course today.
Source: https://www.youtube.com/watch?v=7bX9U1xjVS8
