Statistical Analysis in MS Excel using KADD Stat!

Most of us know that we can do few statistical analysis using ‘Analysis Tool pack’ addin in Microsoft Excel. We can also do more than that using KADD STAT.

KADD STAT is an add-in which comes for free of cost and easy to use. Mostly all the versions after Excel 2003 would support. So, students and other people who want to use some basic statistical stuff can utilize this awesome one.

Download KADD here https://kelley.iu.edu/mabert/e730/KADD.xla

How to Install the New Version of KADD

Also see video here

Option A

If KADD is currently not stored on your computer, then use the following steps:

  1. Download KADD into a folder on your hard drive
  2. Open up Excel
  3. Go to the Tools option and click on Add-Ins
  4. Click on the Browse button (on the right side of the dialog box) and go to the folder with KADD
  5. Double-Click on KADD
  6. KADDSTAT 3.02 will now show up as an Add-In option. Check it and press OK
  7. KADD will then show up as a menu option across the top. You may have to close Excel and then open it up again before you see KADD in Excel across the top

Option B

IF you have already installed the older version of KADD, then use the following steps to upgrade it to the new version:

  1. Download KADD to your hard drive
  2. Open up Excel
  3. Go to the Tools option and click on Add-Ins. KADD (the older version) will be an option in Add-In menu. Remove it by clicking off the check mark and shut down Excel
  4. Now open up Excel again and follow Steps 3 through 7 from Option A

Ready to rock?

A Glance at the available list of analysis in the add-in

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List of analysis

You can calculate probability values

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Probabilities
  1. Find confidence Intervals in different scenarios
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Confidence Intervals

2. Plot a Normal curve

3. Plot ‘Box plots’ for your data

4. Find out minimal sample size for different scenarios

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Sample Size

5. Perform Hypothesis testing

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Hypothesis Testing

6. Draw different quality control charts and find out process capability for normal data

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Quality Control

7. Find out correlation and regression 

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Regression and Correlation

8. Become a forecasting pro ! 🙂

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Forecasting

9. Some financial calculations

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Risk and Return

10. Find out Expected value and variability

11. Perform Decision Trees 

12. Linear Programming

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Reference Tables

Doing this is simple if you have data and know what to do. Give it a try and enjoy ! Happy learning…

Top 8 Viz features in Excel 2016 !

This is especially for the excel lovers! In this blog, we will see few of the new and exciting data visualization features of Excel 2016.

Here is the list of new features

  1. Hierarchy Chart/Tree Map
  2. Sunburst
  3. Water fall or Stock Chart
  4. Transform Cold data into a cool picture
  5. Instant Histogram
  6. Pareto Chart
  7. 3D map
  8. One click forecast

These are the most wanted charts by the Dashboard creators. These are very simple and attractive. This set of features makes excel more competitive with other expensive visualization tools.

  1. Hierarchy Chart/Tree Map:

Select the data that you want to use for creation of the chart then Go to ‘Insert’ tab > Charts > Insert Hierarchy Chart

Hier

Isn’t it cool? OK, we go to the next one.

2. Sunburst/Donut Chart:

It is another representation of a Pie chart. An alternate to boring the Pie chart. Go to ‘Insert’ > Charts > Insert Hierarchy ChartSunburst

3. Water fall or Stock Chart

It is recommended to sort the data by any order to have the better insights.Screenshot 2016-01-02 12.13.11.png

4. Transform Cold data into a cool picture

This one is based on the Add-ins.

Screenshot 2016-01-02 13.10.54

Select your data to visualizeScreenshot 2016-01-02 12.21.56Screenshot 2016-01-02 12.22.02

Select ‘Settings’ to change the design of the chartsScreenshot 2016-01-02 12.24.11

5. Instant Histogram:

Create histograms quickly instead of going to “Analysis Tool Pack” in add-ins. Go to Insert > Charts > Histogram

Screenshot 2016-01-02 13.38.51.png

6. Pareto Chart:

Earlier, we had to customize the data structure to create ‘Pareto chart’ but now it is just a click away to explain the 80/20 principle.

Screenshot 2016-01-02 13.50.36.png

7. 3D map:

Power Map, the popular 3-D geospatial visualization add-in for Excel 2013, is now fully integrated into Excel. We’ve also this feature a more descriptive name, “3D Maps”. You’ll find this functionality alongside other visualization features on the Insert tab.

Screenshot 2016-01-02 13.55.08

It will open another sheet like below Screenshot 2016-01-02 14.00.36.png

then we can change the theme and other options like ‘2D Map’. “Play Tour” option will show an awesome chart with lively visual.

Screenshot 2016-01-02 14.02.13Screenshot 2016-01-02 14.03.48

8. One click Forecast

It has become more easy for the Data analysts who do forecast.

Select the data that you want to forecast and Go to ‘Data’ tab > Click on “Forecast Sheet”

Screenshot 2016-01-02 14.11.35

Adjust the “Seasonality” appropriatelyScreenshot 2016-01-02 14.17.37

Screenshot 2016-01-02 14.18.19

and your forecast is ready.

Hope you like these features and much more to come from Microsoft. Try these things and enjoy !