Problems with Using Excel for Statistical Data Analysis
While the Analysis ToolPak can be used for simple calculations, it might not work for more complex calculations. The first problem that you may encounter is that the Analysis ToolPak doesn't come with every version of Excel. You will have to install it if you don't have it.
The second problem with using Excel for statistical data analysis is that there is no place to put missing data. You will just have to leave the cell blank. If you have to conduct several tests, the way that Excel arranges data may not work for you. You will have to keep rearranging that data to fit your needs.
The final major issue is Output Location. The default for this is a New Sheet. While this may work for simple statistical data analysis, it could become cumbersome if you are doing many tests. You will have a ton of sheets with only a little bit of information on each sheet. You can also designate that the information be placed in the upper left corner cell. But, you may not have enough room for your notes. The third designation is New Worksheet, but you'll run into the same problem of having many worksheets with little information on them.
Using Excel for statistical data analysis may work for those interested in running a simple test or even for the average college or high school student's statistical data analysis projects. But, you will have to play around with the Analysis ToolPak features if your statistical analysis is more complex.
To learn how to automatically update your Excel program, read Microsoft Excel: Have Web Data Update Automatically Every Two Minutes by Mr. Excel. Also, you might want to take a look at the collection of Excel chart and graph tutorials available on Bright Hub's Windows Channel. With these tips, you can quickly and easily create a chart to make your data easier to understand and interpret.