Microsoft Excel Tutorial: Using Copilot Outside of Excel to Analyze Financial Statements!

In today’s video, we dive into something that completely blew me away – analyzing financial statements using Microsoft Copilot but not in Excel! You won’t believe what Copilot can do with financial data when working outside of Excel, like in OneDrive or Word.

We’re taking three financial statements (Income Statement, Balance Sheet, and Cash Flow) and letting Copilot generate summaries, calculate financial ratios, and even provide a financial outlook. It’s a game changer for anyone working with complex datasets!

A shoutout to Dr. Nitin, who first showed me this incredible concept. You have to check out his YouTube channel, @Efficiency365. He’s got amazing videos on Excel, Power BI, and Copilot.

Now, let me show you how this works. I downloaded some messy financial data from SEC Edgar and cleaned it up – because, you know, merged cells and all that fun stuff. Once I had the statements ready, I opened them in OneDrive, hovered over the Copilot icon, and asked it to summarize and analyze the data. To my surprise, Copilot not only understood the financial statements but provided a detailed summary and calculated key financial ratios. All without needing to be in Excel!

It’s wild to see how powerful Copilot is outside of its traditional space. It’s helping us unlock insights in ways that Excel alone sometimes can’t. From financial summaries to key ratio analysis, Copilot’s capabilities in OneDrive and Word are beyond anything I expected. Microsoft is really onto something with this tech!

Thanks for stopping by for another netcast from MrExcel! Make sure to Subscribe, hit the notification Bell, and leave a comment below if you’re as amazed by Copilot as I am. See you next time for more incredible Excel insights!

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Table of Contents
(0:00) Analyzing Excel Financial Statements using Copilot
(0:20) Subscribe to Dr. Nitin’s YouTube channel
(0:49) Worksheet with three financial statements
(1:20) Open in OneDrive and hover to reveal Copilot icon
(1:40) Ask for financial analysis from the Excel workbook
(2:35) Asking for Key Financial Ratios
(3:01) Much better than Copilot in Excel
(3:26) Shop for Spreadsheet Merch

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