USE OF EXCEL STATISTICAL FUNCTIONS IN ANALYTICAL RESEARCH OF BIG DATA

Keywords: economic analysis, Excel functions, Big Data, statistics, analytical research

Abstract

The article examines the specifics of using Excel's statistical functions in conducting analytical studies of big data. Basic Excel statistical functions such as arithmetic mean, median, variance, standard deviation, and others are covered. The specifics of using these functions for analyzing big data in various fields and business processes, including finance, economics, marketing research, etc., have been studied. Methods of data summarization, filtering, sorting and use of tables of contents for fast and efficient analysis of large data sets are considered. The advantages and limitations of using Excel for big data analytics are explored. Alternative tools and programs for big data analysis are considered. Based on the conducted research, it was determined that Excel is a powerful tool for data analysis in various areas of economic analytics, including for working with Big Data. Limitations of the program that can affect the accuracy and speed of processing large volumes of data have been identified. It is recommended to consider such limitations in the analysis process and consider alternative means of processing big data depending on the specific needs of the study. The use of Excel statistical functions in analytical studies of big data becomes especially relevant in modern economic analysis, where data volumes are constantly and dynamically growing and becoming extremely large in volume. At the same time, Big Data plays a key role in various fields, including scientific research, technology, business processes, medicine, and others. At the same time, in recent years, the pace of data growth has become a significant challenge for analysts and researchers in all fields. Processing and analysis of large volumes of data require powerful tools and specific analysis methods that would ensure accuracy, speed and efficiency of analytical processes. In this aspect, Excel, as one of the most common software products for data analysis, has powerful statistical functions that can be used for Big Data analytical research. However, it is known that Excel has certain limitations regarding the amount of data that can be processed, and there may also be a problem with the performance of the software application itself when working with large data sets.

References

Вербівська Л.В. Концептуальні підходи щодо удосконалення діагностики мікросередовища в розробці стратегії підприємств. Особливості управління підприємствами в умовах глобальних викликів : монографія / за ред. О.В. Зибаревої. Чернівці : Технодрук, 2016. С. 98–113.

Дзямулич М.І., Шматковська Т.О., Борисюк О.В. Великі дані та їх роль у формуванні цифрової економіки. Галицький економічний вісник. 2021. Том 70. № 3. С. 16–21.

Никифорак В.А., Кобеля З.І., Вербівська Л.В. Організація виробництва : навч. посіб. Чернівці : Чернів. нац. ун-т, 2010. 407 с.

Чалюк Ю.О. Суспільство 5.0 у японській концепції кейданрен. Mechanism of an Economic Regulation. 2023. Вип. 1(99). С. 65–74.

Чалюк Ю.О. Цифрова конкурентоспроможність країн. Інфраструктура ринку. 2020. Вип. 50. С. 23–30.

Чиж Н.М., Дзямулич М.І., Урбан О. . Управління інноваційною діяльністю банківських установ. Економічний форум. 2018. № 1. С. 284–289.

Шматковська Т.О., Стащук О.В., Дзямулич М І. Великі дані та бізнес-моделювання економічних систем. Ефективна економіка. 2021. № 5.

Bag S., Wood L.C., Xu L., Dhamija P., Kayikci Y. Big data analytics as an operational excellence approach to enhance sustainable supply chain performance. Resources, Conservation and Recycling. 2020. Vol. 153. 104559.

Deineha, I., Maslov, A., Potryvaieva, N., Verbivska, L., Koliadych, O. Institutional Environment Tools for Small and Medium-Sized Enterprises Development. Estudios de Economia Aplicada, 2021, 39(3), 4798.

Harding M. H., Hersh J. Big Data in economics. IZA World of Labor, 2018. Vol. 451.

Verbivska, L.V. (2016) Kontseptualni pidkhody shchodo udoskonalennia diahnostyky mikroseredovyshcha v rozrobtsi stratehii pidpryiemstv. Osoblyvosti upravlinnia pidpryiemstvamy v umovakh hlobalnykh vyklykiv [Conceptual approaches to improving diagnostics of the microenvironment in the development of enterprise strategy. Peculiarities of enterprise management in conditions of global challenges]. In O.V. Zybareva (Eds.). Chernivtsi: Technoprint. (in Ukrainian)

Dziamulych, M.I., Shmatkovska, T.O., & Borysiuk, O.V. (2021). Velyki dani ta yikh rol u formuvanni tsyfrovoi ekonomiky [Big data and its role in shaping the digital economy]. Galytskyi ekonomichnyi visnyk, vol. 70(3), pp. 16–21. (in Ukrainian)

Nykyforak, V.A., Kobelia, Z.I., & Verbivska, L.V. (2010). Organizatsia vyrobnytstva [Organization of production]. Chernivtsi: Chernivtsi national University. (in Ukrainian)

Chaliuk, Yu.O. (2023). Suspilstvo 5.0 u yaponskii kontseptsii keidanren [Society 5.0 in the Japanese concept of keidanren]. Mechanism of an Economic Regulation, vol. 1(99), pp. 65–74. (in Ukrainian)

Chaliuk, Yu.O. (2020). Tsyfrova konkurentospromozhnist kraiin [Digital competitiveness of countries]. Infrastruktura rynku, vol. 50, pp. 23–30. (in Ukrainian)

Chyzh, N.M., Dziamulych, M.I., & Urban, O.A. (2018). Upravlinnia innovatsiinoiu diialnistiu bankivskykh ustanov [Management of innovative activities of banking institutions]. Ekonomichnyi forum, vol. 1, pp. 284–289. (in Ukrainian)

Shmatkovska, T.O., Stashchuk, O.V., & Dziamulych, M.I. (2021). Velyki dani ta bisnes-modeliuvannia ekonomichnykh system [Big data and business modeling of economic systems]. Efektyvna ekonomka, vol. 5. (in Ukrainian).

Bag, S., Wood, L.C., Xu, L., Dhamija, P., & Kayikci, Y. (2020). Big data analytics as an operational excellence approach to enhance sustainable supply chain performance. Resources, Conservation and Recycling, vol. 153, 104559.

Deineha, I., Maslov, A., Potryvaieva, N., Verbivska, L., & Koliadych, O. (2021). Institutional Environment Tools for Small and Medium-Sized Enterprises Development. Estudios de Economia Aplicada, vol. 39(3), 4798.

Harding, M.H., & Hersh, J. (2018). Big Data in economics. IZA World of Labor, vol. 451.

Article views: 164
PDF Downloads: 128
Published
2023-05-30
How to Cite
Talakh, V., & Talakh, T. (2023). USE OF EXCEL STATISTICAL FUNCTIONS IN ANALYTICAL RESEARCH OF BIG DATA. Economy and Society, (51). https://doi.org/10.32782/2524-0072/2023-51-15
Section
FINANCE, BANKING AND INSURANCE