Learn Microsoft Excel Training with Free Lessons & Tips

Apart from conventional formulas like SUM, SUM IF, MEDIAN - there are CORREL to find out the correlation, financial formulas like FV for future value of Investment, PV returns on present value of investment, IRR to find out internal rate of returns. These are a few, excel provides a bunch of statistical formulas.

One of Excel's standout features is its ability to perform calculations and operations on data using formulas and functions. Users can create complex calculations by combining mathematical operators, cell references, and built-in functions. Some commonly used functions include SUM, AVERAGE, IF, and VLOOKUP.

In Microsoft Excel, there isn't a fixed maximum number of sheets that can be added to a workbook. Instead, the limit is influenced by the available memory (RAM) on your computer. Modern versions of Excel, starting from Excel 2007 onwards, are designed to handle more worksheets within a single workbook as long as your system's memory resources can support it. For practical purposes, this means you can add thousands of sheets without hitting a hard limit, but the performance of Excel might degrade as you add more sheets, especially if those sheets are complex or contain large amounts of data. It's also worth considering usability and navigation within a workbook with a very high number of sheets, as managing and finding specific information might become cumbersome. Therefore, while Excel technically allows you to add as many sheets as your system's memory can handle, it's advisable to keep the number of sheets to a manageable level and use other methods for organizing large datasets, such as leveraging multiple tables within a single sheet or using database solutions when appropriate.

Pros
Provide many mathematical formulas for simple and complex computations
Easy to drag and drop fields when composing reports
A lot of filtering options
User-friendly, interactive way to explore and summarize data
Flexible and efficient way to analyze and present large sets of data
Automatically update and improve data accuracy

Cons
Excel is not scalable when it comes to storing large amounts of data
Time-consuming to use because they don't have many calculation options
Confusing and overwhelming for first-time users
May have limitations when it comes to complex queries, data manipulation, and performance with large datasets
Pivot tables do not automatically update as you change the data they originate from