As a small or medium-sized enterprise (SME), you will know how important it is to manage your data efficiently and effectively. You need to analyse your sales, expenses, inventory, cash flow, and other key metrics to make informed decisions and grow your business. But sometimes, working with spreadsheets can be daunting and time-consuming, especially if you are not an expert in Excel.
Copilot is going to be a game-changer
That’s why Microsoft 365 Copilot is a game-changer for SMEs. Copilot is a new feature in Excel that uses artificial intelligence (AI) to help you create, edit, and understand your spreadsheets. It can suggest formulas, charts, tables, and insights based on your data and your questions. It can also detect and fix errors, format your data, and automate tasks. With Copilot, you can save time, avoid mistakes, and discover new insights from your data.
To use Copilot, you need to have the correct Microsoft 365 subscription and the latest version of Excel. You can access Copilot from the Home tab in the ribbon or by pressing Alt + Q on your keyboard. This will open the Copilot pane on the right side of your screen.
Copilot can revolutionise various tasks in Excel, such as:
Creating formulas:
You can type a natural language question, and Copilot will suggest one or more formulas that match your intent. For example, if you type “calculate the average sales per month”, Copilot will suggest the formula =AVERAGE(B2:B13), where B2:B13 is the range of cells that contains your monthly sales data. You can then insert the formula into your worksheet by clicking on it or pressing Enter.
Creating tables:
You can use Copilot to create tables that organise and summarise your data. For example, if you type “create a table of sales by month and product category”, Copilot will suggest a table that shows the total sales for each month and product category in your data. You can then insert the table into your worksheet by clicking on it or pressing Enter.
Finding insights:
You can use Copilot to find insights from your data that you might not notice otherwise. For example, if you type “What is the trend of sales over time”, Copilot will suggest a line chart that shows how your sales have changed over time. It will also provide a summary of the trend, such as “sales have increased by 15% from January to December”. You can then insert the chart and the summary into your worksheet by clicking on them or pressing Enter.
Creating charts:
You can also use Copilot to create charts based on your data. For example, if you type “show me a pie chart of sales by product category”, Copilot will suggest a pie chart that shows the percentage of sales for each product category in your data. You can then insert the chart into your worksheet by clicking on it or pressing Enter.
Fixing errors:
You can use Copilot to detect and fix errors in your formulas, data, or charts. For example, if you have a formula that returns an error value, such as #DIV/0!, you can type “fix this error” in the Copilot pane, and Copilot will suggest a possible solution, such as changing the denominator to avoid division by zero. You can then apply the solution by clicking on it or pressing Enter.
Formatting data:
You can use Copilot to format your data according to your preferences or standards. For example, if you want to change the currency format of your sales data from US dollars to euros, you can type “change currency format to euros” in the Copilot pane, and Copilot will suggest a formatting option that changes the currency symbol and the decimal separator. You can then apply the formatting by clicking on it or pressing Enter.
Automating tasks:
You can use Copilot to automate repetitive or complex tasks in Excel. For example, if you want to create a monthly report based on your sales data, you can type “create a monthly report” in the Copilot pane, and Copilot will suggest a template that includes a dashboard, a summary, and a detailed analysis of your data. You can then customise the template by adding or removing elements, changing the layout, or editing the text.
By using Copilot in Excel, you can:
- Save time: You can create, edit, and understand your spreadsheets faster and easier with Copilot. You don’t need to remember complex formulas, syntax, or commands. You can just type what you want to do in natural language and let Copilot do the rest.
- Avoid mistakes: You can reduce errors and inconsistencies in your spreadsheets with Copilot. Copilot can detect and fix errors in your formulas, data, or charts. It can also format your data according to your preferences or standards.
- Discover insights: You can uncover new insights from your data with Copilot. Copilot can suggest formulas, charts, tables, and insights based on your data and your questions. It can also provide summaries and explanations of the results.
- Improve decisions: You can make better decisions for your business with Copilot. You can analyse your sales, expenses, inventory, cash flow, and other key metrics with Copilot. You can also create reports and dashboards that present your data in a clear and compelling way.
Microsoft 365 Copilot is a powerful feature in Excel that uses AI to help you create, edit, and understand your spreadsheets. It can help you save time, avoid mistakes, discover insights, and improve decisions for your SME business.
Word Copilot
Excel Copilot
Outlook Copilot
Powerpoint Copilot
Teams Copilot
