ChatGPT: You might not always know how to construct the formulas you need for a particular data collection because not everyone is an expert with Excel spreadsheets. A new feature can assist you in writing up the formula you need in a matter of steps if you’re having problems determining which one is best for your data and computing requirements.
The new and popular AI chatbot from OpenAI, ChatGPT, is one such choice. In addition to its other capabilities, ChatGPT has the ability to create Excel formulas. In this article, we will tell you how you can use ChatGPT to create Excel formulas.
How to use ChatGPT to write Excel formulas?
The process of writing an Excel formula with ChatGPT is as simple as putting the desired result in text form. Saying, “Calculate the quarterly sales growth for this column of numbers,” is one way to instruct the AI. Next, an Excel formula for accomplishing that identical task would be generated by the AI.
The produced formula can be easily entered into Excel and integrated into more comprehensive software systems for company planning or financial consolidation. Using this method, all of your data is centralised and can be easily manipulated to provide precise reports, projections, and other financial studies.
How is it useful?
With ChatGPT, you can build intricate Excel formulas that manage these responsibilities with ease. You have the ability to instruct the AI to create algorithms that perform currency conversions automatically. For a unified financial picture, these conversions are based on real-time exchange rates or formulae that eliminate intercompany transactions.
Using ChatGPT for Excel can help you with:
- Quickly combine financial information from several companies to improve decision-making.
- Cut down on the time and work required to close the books each month using the monthly financial close.
- Produce aggregated reports with automated and error-free algorithms that are easier to audit and more transparent.
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