Businesses commonly use spreadsheets to create and record financial transactions. This helps businesses to best utilize the value of their data and make informed decisions necessary for attaining their goals.
Spreadsheets come with different tools that allow businesses to build charts, collect data and identify trends from the information collected. Businesses use a spreadsheet to assess information from various sources, including texts and images. This information is important in drawing conclusions and making predictions. Internal auditors play a crucial role of assisting a business understand the role of a spreadsheet, as they help to implement effective policies according to government regulations.