You may already know ChatGPT as a game-changer for content creation, but did you know it can also supercharge your data analysis?
There are 3 ways in which you can integrate ChatGPT with Excel or work on your Excel sheets using the ChatGPT interface:
Automating manual, repetitive work is like putting processes on autopilot mode and keeping an eye on the quality control of the output.
To initiate the process with ChatGPT, you can use a prompt like:
Ensure that the data meets your specific criteria, is consistent, and is standardized. Some ChatGPT prompts that you can use:
You can even control data quality and improve data integrity with prompts like:
Get deeper insights for indicators like ROI and audience engagement, generating recommendations for future campaigns with ChatGPT.
Use ChatGPT to go beyond the basic metrics like total sales and monthly averages to explore more nuanced questions about customer lifetime value (LTV), seasonality, ROI, and product bundling from your sales datasheets.
See this example prompt:
Customer feedback is a goldmine of insights that can drive business improvements and enhance customer satisfaction. You can categorize comments by sentiment, identify recurring themes, and even generate actionable recommendations with ChatGPT. These are just a few ways in which you can work with ChatGPT to improve customer engagement.
Try this prompt:
Automating inventory generation reports can keep you updated in real-time on your stocks as well as make timely business decisions. You can use ChatGPT to help you build Macros and VBA code that you can use to automate the report generation.
Try this prompt:
Leverage ChatGPT’s ability to fetch real-time data and perform time series analysis to make smarter and more informed investment decisions.
Try this prompt to gather the latest stock prices and update your Excel data:
To conduct a time series analysis on your portfolio, try this prompt:
You can make use of ChatGPT’s language model to analyze different repayment scenarios and even ask for suggestions to save a significant amount in the long run.
Try this the next time you’re running a repayment scenario:
For errors in a formula, ChatGPT can assist in identifying syntax mistakes, referencing errors, or incorrect logic in the formula. It can suggest corrections or alternative formulas to achieve the desired outcome.
Give these prompts a try the next you are working on any data. You never know what new dimension of data-driven decision-making you would unlock. If you’ve tried it out, let us know about your experience here.