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!
Buy Bill Jelen's latest Excel book: MrExcel 2024 Igniting Excel
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
This video answers these search terms:
Copilot financial statement analysis
Using Copilot outside Excel
Coca-Cola financial statements with Copilot
Analyze financial data in OneDrive
Copilot in Word for financial reports
Key financial ratios with Microsoft Copilot
Dr. Nitin Efficiency365 Copilot demo
SEC Edgar data Copilot analysis
Microsoft Copilot vs Excel analysis
Automating financial summaries with Copilot
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!
Buy Bill Jelen's latest Excel book: MrExcel 2024 Igniting Excel
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
This video answers these search terms:
Copilot financial statement analysis
Using Copilot outside Excel
Coca-Cola financial statements with Copilot
Analyze financial data in OneDrive
Copilot in Word for financial reports
Key financial ratios with Microsoft Copilot
Dr. Nitin Efficiency365 Copilot demo
SEC Edgar data Copilot analysis
Microsoft Copilot vs Excel analysis
Automating financial summaries with Copilot
Transcript of the video:
Just down below the video, if you click “Like”.
That'll make sure that YouTube shows this video to more people – thanks! This is going to blow you away today.
Episode 2652.
We're going to analyze three Excel financial statements using Copilot but not in Excel. This is amazing.
It was a few months ago. I was on a call and Dr.
Nitin was there and they gave him five minutes to demo this concept and it blew me away.
I want you to subscribe to Dr. Nitin, @Efficiency365 at YouTube.
He has great videos on Copilot, on Excel, on Power BI, just an amazing channel worth the subscribe.
I'll put the I up there in the top right hand corner to this video: Analyze Balance Sheet using Word in Copilot”. Now, I'm going to change this up a little bit.
Here is a worksheet that Copilot in Excel would not be able to do a thing with.
This is data that I pulled down from SEC Edgar. Yes, I had to clean it up.
Because it came down with some merged cells and stuff like that.
But at the top, we have the Consolidated Statement of Income.
And then after that the Balance Sheet.
And then after that, the Statement of Cash Flows, right?
This is an ugly dataset that if we use this copilot in Excel, they would have no clue what to do with this.
I'm going to change up Dr. Nitin’s example.
And I'm going to come to OneDrive and here's the Coca-Cola Financial Statements. It's just that worksheet I showed you.
When I hover, there is a Copilot icon that appears.
I can summarize. I can create an FAQ.
Or in this case, I'm going to ask a question.
I'm going to say, “Give me a financial summary and outlook for this company based on these three financial statements”.
Send. “Combing through Coca-Cola financial statements”.
Look at this. They actually understand the financial statements.
It gives me some headlines about the various key figures from the income statement, the balance sheet, and the cashflow statement. They give me a financial outlook.
“However, the decrease in net cash and their increase in net cash used in investing suggests that the company's investing heavily in operations and financing activities.
“Strong financial position”. Here's another one.
This is another one that Dr. Nitin did.
“Calculate the key financial ratios from this set of financial statements”.
They understand all of these key finance ratios and they calculate them. This is astounding.
All this time that I've been using Copilot in Excel where it tells me it can't create a pie chart and then creates a pie chart. It seems so limited.
And Microsoft has this amazing technology that we can feed it in Excel file.
And do a complete analysis, but not from Excel. Dr.
Nitin did it from Word and I did it from OneDrive. This is amazing.
I want to thank you for stopping by.
We'll see you next time for another net cast from MrExcel. Hey, just below the video, click this Store icon.
We have a whole bunch of new mugs and shirts professionally designed.
All kinds of great fun slogans for you or your favorite seller.
If you like these videos, please down below, Like, Subscribe and Ring the Bell.
Feel free to post any questions or comments down in the Comments below.
That'll make sure that YouTube shows this video to more people – thanks! This is going to blow you away today.
Episode 2652.
We're going to analyze three Excel financial statements using Copilot but not in Excel. This is amazing.
It was a few months ago. I was on a call and Dr.
Nitin was there and they gave him five minutes to demo this concept and it blew me away.
I want you to subscribe to Dr. Nitin, @Efficiency365 at YouTube.
He has great videos on Copilot, on Excel, on Power BI, just an amazing channel worth the subscribe.
I'll put the I up there in the top right hand corner to this video: Analyze Balance Sheet using Word in Copilot”. Now, I'm going to change this up a little bit.
Here is a worksheet that Copilot in Excel would not be able to do a thing with.
This is data that I pulled down from SEC Edgar. Yes, I had to clean it up.
Because it came down with some merged cells and stuff like that.
But at the top, we have the Consolidated Statement of Income.
And then after that the Balance Sheet.
And then after that, the Statement of Cash Flows, right?
This is an ugly dataset that if we use this copilot in Excel, they would have no clue what to do with this.
I'm going to change up Dr. Nitin’s example.
And I'm going to come to OneDrive and here's the Coca-Cola Financial Statements. It's just that worksheet I showed you.
When I hover, there is a Copilot icon that appears.
I can summarize. I can create an FAQ.
Or in this case, I'm going to ask a question.
I'm going to say, “Give me a financial summary and outlook for this company based on these three financial statements”.
Send. “Combing through Coca-Cola financial statements”.
Look at this. They actually understand the financial statements.
It gives me some headlines about the various key figures from the income statement, the balance sheet, and the cashflow statement. They give me a financial outlook.
“However, the decrease in net cash and their increase in net cash used in investing suggests that the company's investing heavily in operations and financing activities.
“Strong financial position”. Here's another one.
This is another one that Dr. Nitin did.
“Calculate the key financial ratios from this set of financial statements”.
They understand all of these key finance ratios and they calculate them. This is astounding.
All this time that I've been using Copilot in Excel where it tells me it can't create a pie chart and then creates a pie chart. It seems so limited.
And Microsoft has this amazing technology that we can feed it in Excel file.
And do a complete analysis, but not from Excel. Dr.
Nitin did it from Word and I did it from OneDrive. This is amazing.
I want to thank you for stopping by.
We'll see you next time for another net cast from MrExcel. Hey, just below the video, click this Store icon.
We have a whole bunch of new mugs and shirts professionally designed.
All kinds of great fun slogans for you or your favorite seller.
If you like these videos, please down below, Like, Subscribe and Ring the Bell.
Feel free to post any questions or comments down in the Comments below.
