Modern Data Analytics in Excel

Chapter 11. Augmented Analytics and the Future of Excel

As the world of data analytics grows vaster and more complex, what role will Excel serve? Will it become obsolete in an AI-powered data ecosystem? This chapter explores the emergence of augmented analytics and the role Excel will play in this transformation, along with some current use cases.

Before we dive into the intriguing world of predictive analytics, AI, and the transformative changes unfolding across business, including within our spreadsheets, it’s important to acknowledge the dynamic nature of this field. New product developments are emerging constantly. Even well-established tools, such as ChatGPT and Microsoft Copilot, frequently undergo significant updates and changes. This chapter aims to focus on understanding the fundamental and more stable aspects of Excel. My intention is not to provide an exhaustive overview of the latest advancements but to offer a glimpse into what augmented analytics in Excel entails and to equip you with the skills needed to navigate this area, regardless of how the features and tools evolve.

The Growing Complexity of Data and Analytics

In 2017, International Data Corporation (IDC), a market intelligence firm, predicted a remarkable tenfold increase in the amount of data in existence from 2016 to 2025, totaling 163 zettabytes or a trillion gigabytes.

With the overall quantity of data on the rise, it’s also expanding in variety. According to AI services provider Taiger, 80% of digital ...