The Best Excel AI Tools to Optimize Your Spreadsheet Workflow

Published:May 14, 2024

Reading Time: 16 minutes

No doubt, excel AI tools provide a smarter and more efficient way to analyze and manage your Excel data than the traditional way of sorting through rows and columns. Thanks to these tools we can perform data analysis and automation at a faster rate. This in turn leads to extracting deeper insights that guide decision-making across our organizations. 

If you work with data and have ever felt overwhelmed by the sheer volume of data in your Excel spreadsheets, these Excel AI tools are here to make your job easier. 

Understanding Excel AI Tools

What Are Excel AI Tools?

Excel AI tools are sophisticated functionalities seamlessly integrated into Microsoft Excel, powered by cutting-edge artificial intelligence algorithms.

They represent a significant evolution in data analysis and automation, offering users advanced capabilities to streamline processes and extract deeper insights from their data.

The significance of Excel AI tools lies in their transformative impact on data analysis workflows. Traditionally, Excel has been a staple tool for organizing and analyzing data.

However, with the advent of AI, Excel has become more than just a spreadsheet software. It has become an intelligent assistant that augments users’ analytical capabilities.

These AI tools enable users to automate repetitive tasks such as data cleaning, sorting, and formatting, saving valuable time and effort. Moreover, they can detect complex patterns, trends, and anomalies within datasets, facilitating more accurate and insightful analysis.

By harnessing the power of AI, Excel AI tools empower users to make data-driven decisions with confidence and precision. They enhance efficiency, accuracy, and productivity, enabling users to extract meaningful insights from their data and drive informed decision-making processes.

How AI Enhances Excel Capabilities for Data Analysis and Automation

AI enhances Excel’s capabilities for data analysis and automation by leveraging advanced algorithms to streamline processes, uncover insights, and facilitate informed decision-making.

  1. Automation of Repetitive Tasks:
    • AI-powered features automate tedious tasks such as data cleaning, sorting, and formatting, saving users time and effort.
    • Excel AI tools can automatically recognize patterns and structures within datasets, allowing for efficient data organization and manipulation.
  2. Advanced-Data Analysis:
    • AI algorithms enable Excel to perform complex data analysis tasks, such as predictive modeling, trend identification, and outlier detection.
    • With AI, Excel can uncover hidden patterns, correlations, and trends within datasets, providing users with deeper insights into their data.
  3. Intelligent Data Visualization:
    • AI-powered visualization tools in Excel generate interactive charts, graphs, and dashboards that dynamically update based on underlying data changes.
    • These visualizations help users better understand complex datasets and communicate insights effectively to stakeholders.
  4. Predictive Analytics and Forecasting:
    • Excel AI tools incorporate predictive analytics capabilities, allowing users to forecast future trends, identify potential risks, and make informed decisions.
    • By analyzing historical data and patterns, AI algorithms can generate accurate forecasts and scenario analyses, empowering users to anticipate future outcomes.
  5. Natural Language Processing (NLP) Integration:
    • AI-powered NLP features enable users to interact with Excel using natural language commands, making data analysis more intuitive and accessible.
    • Users can ask questions, receive insights, and perform analysis tasks using simple language, without the need for complex formulas or queries.

Benefits of Using AI Tools in Conjunction With Excel

Using AI tools alongside Excel offers numerous benefits that enhance data analysis, streamline workflows, and empower users to make informed decisions:

  1. Increased Efficiency:
    • AI automates repetitive tasks such as data cleaning, sorting, and formatting, saving time and effort.
    • Excel AI tools streamline complex processes, enabling users to analyze large datasets quickly and efficiently.
  2. Enhanced Accuracy:
    • AI algorithms minimize human error by detecting and correcting inconsistencies in data.
    • Excel AI tools ensure data accuracy by analyzing patterns, trends, and outliers with precision.
  3. Deeper Insights:
    • AI-powered analytics uncover hidden patterns and correlations within datasets, providing deeper insights.
    • Excel AI tools facilitate advanced data analysis techniques such as predictive modeling and trend identification, enabling users to extract meaningful insights.
  4. Improved Productivity:
    • By automating repetitive tasks, AI frees up time for users to focus on strategic analysis and decision-making.
    • Excel AI tools enable users to generate interactive visualizations and reports that communicate insights effectively to stakeholders.
  5. Enhanced Decision Making:
    • AI-powered predictive analytics capabilities allow users to forecast future trends and make informed decisions.
    • Excel AI tools empower users to anticipate potential risks, identify opportunities, and drive business growth.

Top 10 Free Excel AI Tools

1. Excel Formula Bot

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This is one of the best free AI tools for Excel that generates Excel formulas from text instructions using GPT-3 AI. It then goes a step further to explain the complex formulas in English. 

This tool can be integrated into your workflow as an add-in or a web-based dashboard. It is primarily free, offering 5 queries per month. More queries are locked behind a paywall. 

Best for: Beginners who need quick formula generation and explanations
Key Features:

  • This tool uses GPT-3 AI to transform text descriptions into Excel formulas
  • Excel Formula Bot explains complex formulas in English, making it easy to understand
  • It integrates into Excel and Google Sheets 
  • It helps with financial modeling, data validation, and lookup formulas
  • There’s a Pro Plan available for unlimited formula generation

Example:
You need to extract the last name from a full name in Excel but don’t know the formula. Just type “Extract the last name from ‘John Doe'”

Excel Formula Bot will generate:

=RIGHT(A1,LEN(A1)-SEARCH(” “,A1))

2. SheetGod

This free AI tool for Excel generates complex Excel formulas, macros, and regular expressions from plain English. It also creates Google Apps Script code snippets and has a user-friendly dashboard with tutorials. It does have a free plan but that’s limited. 

Best for: Automating Excel tasks, macros, and Google Apps Script generation

Key Features:

  • SheetGod generates Excel formulas, macros, and regex from natural language prompts
  • It can convert English prompts into Google Apps Script for automating Google Sheets
  • The dashboard is intuitive. It also provides tutorials that aid easy navigation. 
  • It supports conditional formatting, array formulas, and automation scripts

Example:
To automatically highlight overdue tasks in Google Sheets, prompt with “Highlight overdue dates in red”

3. GPTExcel

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This is one of the best Excel AI tools available. It is an AI Excel plug-in that helps create formulas and analyze data. It also generates formulas from natural language descriptions and provides insights and recommendations based on data. Its free version only allows for limited queries per day. 

Best for: AI-powered Excel insights and formula recommendations

Key Features:

  • GPTExcel is an AI Excel plug-in that generates formulas and analyzes data
  • No technical knowledge is required, it uses natural language descriptions to create formulas
  • Cuts back on time by identifying patterns in datasets and offering actionable insights
  • It also assists with financial calculations, data cleaning, and forecasting

Example:
You have a sales dataset and want to calculate the monthly growth rate. Instead of figuring out the formula yourself, just type:

“Calculate monthly sales growth rate in Excel”

4. AI Excel Formula Generator by ChatGPT

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This free AI tool for Excel analyzes user input and understands the context of the problem at hand. Then, ChatGPT generates tailored Excel formulas that address specific needs and requirements.

Best for: Context-aware formula creation

Key Features:

  • It understands the full context of a problem before generating an Excel formula
  • Uses ChatGPT’s advanced reasoning to ensure accuracy
  • This tool helps to create nested formulas, financial modeling, and lookup functions
  • It works via the web and requires no installation

Example:
If you want to find the second highest value in a dataset. Enter: “Find the second largest number in a list”

ChatGPT will generate: =LARGE(A1:A100, 2)

5. PromptLoop

excel AI tools

Promptloop is one of the free AI tools for Excel analysis that generates Excel formulas and VBA code from text prompts, supports a wide range of formula types, and provides step-by-step explanations.
Best for: AI-generated Excel formulas and VBA code

Key Features:

  • Generates complex Excel formulas, VBA macros, and regex
  • Works with structured and unstructured data
  • Provides step-by-step explanations
  • Integrates seamlessly with Google Sheets

Example:
You can automate email alerts in Excel when stock levels drop below a set threshold. PromptLoop will generate:

  • A VBA script to send email alerts
  • A conditional formatting formula to highlight low stock

6. Excelly-AI

This is a Text-to-Excel tool that generates formulas in a browser or Slack, uses GPT-3.5-turbo to compute complex formulas, provides explanations for each formula, and supports Excel and Google Sheets. The free plan offers 10 queries per month

Best for: AI-powered Excel automation inside Slack and web browsers
Key Features:

  • Generates Excel formulas from English prompts 
  • Supports Excel, Google Sheets, and Slack integration
  • Uses GPT-3.5-turbo to generate advanced formulas
  • Offers built-in explanations for each formula

Example:
You can generate a formula for calculating ROI. Just type:

“Calculate ROI using initial investment and revenue”

Excelly-AI will generate:

=(Revenue – Cost) / Cost

7. Excel Formularizer

This is one of the top free AI tools for Excel. It converts text instructions into Excel formulas and supports various instructions and regular expressions. 

Best for: Quick text-to-formula conversion

Key Features:

  • It converts text descriptions into Excel formulas
  • Excel Formularizer supports various formula types, including lookup, text manipulation, and math functions
  • It works as a browser-based tool with no installation required

Example:
To concatenate text with a space but don’t remember the function. Just type:

“Combine first and last names with a space”

It generates: =A1 & ” ” & B1

8. Formula Dog

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This best Excel AI tool generates Excel formulas, VBA code, and regex from text instructions, translates code, formulas, and SQL into English, and is user-friendly and intuitive. 

Best for: Advanced formula generation, code translation, and SQL conversion

Key Features:

  • Skilled at generating Excel formulas, VBA code, and regex from text prompts
  • Translates Excel formulas, SQL, and VBA code into simple English
  • It provides detailed explanations for better understanding

Example:
If you’re working with SQL but need an equivalent Excel formula, Formula Dog can convert:

SQL: SELECT SUM(Sales) FROM Table WHERE Month=”January”

into:

Excel Formula: =SUMIF(A:A, “January”, B:B)

9. AI Excel Bot

This is one of the AI tools for Excel analysis that helps users create complex Excel formulas in seconds. It uses simple English prompts and is designed to be user-friendly and intuitive. Although a free tool, it provides limited access. 

Best for: Creating complex formulas using simple prompts
Key Features:

  • AI Excel Bot generates Excel formulas from text prompts
  • It performs data analysis, lookups, and automation 
  • It has a user-friendly interface suited for both beginners and advanced users

Example:

“Find the average sales in column B where region is ‘North'”

AI Excel Bot will generate: =AVERAGEIF(A:A, “North”, B:B)

10. Google Bard

AI tools for excel

Gemini is Google’s answer to ChatGPT. It features a conversational format and advanced text generation for complicated spreadsheet formulae. Plus, it is free for all users with an unlimited number of questions.

Best for: Conversational AI-driven Excel assistance
Key Features:

  • Gemini can generate and explain complex Excel formulas in a chat-based format
  • Offers detailed formula breakdowns and alternative suggestions

If you need an Excel formula for dynamic row highlighting, just ask Gemini, and it will generate the best approach. 

Read Also: The Best AI Excel Formula Generator To Try Out

Top 10 AI Plugins for Excel

1. Datarails

This is one of the best plugins that offers an AI-powered FP&A platform that seamlessly integrates with Excel. It automates repetitive processes, reduces errors, and provides actionable insights from data.

It supports data consolidation, financial reports, scenario analysis, and more. This makes it ideal for finance professionals and data analysts.

Best for: Financial planning, analysis, and reporting

Key Features:

  • Datarails offers scenario analysis tools to visualize different financial scenarios. Users can then use that data to predict outcomes and assess risks.
  • It provides actionable insights from large data sets through its advanced reporting capabilities. 
  • It works hand-in-hand with Excel’s built-in functions to cater to complex financial analysis.

How to Use Datarails:

  • Download and install the Datarails add-in from the Excel Store.
  • Link Datarails to your financial data sources such as ERP systems or Excel files.
  • Use Datarails to automate financial reporting by selecting the financial metrics and Use the scenario analysis feature to model various financial scenarios, adjusting assumptions based on current data.
  • Datarails will automatically analyze your data and generate key insights for better decision making. 

Note: Datarails is not a free tool. 

2. MonkeyLearn

ai plugins for excel

MonkeyLearn is an AI plugin for Excel that focuses on text analysis. It allows users to extract valuable insights from textual data in Excel, such as customer feedback and social media comments. It offers a free tier with limited functionality

Best for: Text analytics and sentiment analysis
Key Features:

  • MonkeyLearn uses Natural Language Processing (NLP) to analyze and extract insights from text data in Excel.
  • Employs sentiment analysis to determine the tone of feedback (positive, negative, or neutral).
  • It will extract key phrases, classify text, and identify trends in customer data.
  • MonkeyLearn provides actionable insights from customer feedback, social media comments, surveys, and emails.

How to Use MonkeyLearn:

  • Organize your text data (such as customer feedback or survey responses) into an Excel spreadsheet.
  • Download and install the MonkeyLearn plug-in from the Excel Store.
  • Select the type of analysis you want to perform, such as sentiment analysis or keyphrase extraction.
  • MonkeyLearn will automatically process the text and return categorized insights, such as sentiment scores or key phrases.
  • Use the insights to adjust marketing strategies, address customer concerns, or improve your products. 

3. Tableau

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Tableau is known for its data visualization capabilities, enabling users to create interactive and insightful visual representations of data directly within Excel.

Best for: Data visualization and dashboard creation

Key Features:

  • Tableau provides data visualization tools for creating interactive dashboards and charts directly within Excel.
  • It helps users create data visuals, such as graphs, heat maps, and scatter plots.
  • Tableau offers real-time collaboration features. This allows teams to interact with visualizations and adjust strategies based on current data.

How to Use Tableau:

  • Install the Tableau plugin from the Excel Store.
  • Import your data from Excel into Tableau using the built-in connection feature.
  • Choose a visualization type that best suits your data (e.g., bar chart, pie chart, or line graph).
  • Create your dashboard by dragging and dropping your data into Tableau’s workspace. Adjust filters, colors, and axes to create your desired visualization.
  • After building your visualization, publish it to Tableau Server or Tableau Public, and share it with your team for collaboration and decision-making.

4. Kutools for Excel

If you know Kutools for Excel, you’d know it’s one of the best AI plugins for Excel. It enhances Excel’s functionality by providing a wide range of tools and utilities to simplify tasks, improve productivity, and streamline workflows. You can take advantage of the 30-day free trial to explore the tool before a financial commitment. 

Best for: Simplifying repetitive Excel tasks and workflow optimization 

Key Features:

  • Kutools allows for batch operations (e.g., deleting blank rows, merging cells without losing data)
  • It simplifies data management (sorting, filtering, and splitting columns)
  • It makes room for text manipulation. It also has advanced formatting tools
  • Kutools allows users to optimize workflows and save time by automating repetitive tasks and simplifying complex Excel operations.

How to Use Kutools:

  • Download and install the Kutools plug-in from the Excel Store.
  • Access the Kutools ribbon and choose from over 300 available tools for tasks like removing duplicates, splitting cells, or combining ranges.
  • Automate repetitive tasks, such as batch delete blank rows or merge cells without overwriting data.
  • Use Kutools to sort, filter, and clean data to improve its organization.

5. XLSTAT

XLSTAT is a statistical analysis software that integrates with Excel. It offers advanced data analysis tools and functions for users working with complex datasets.

Best for: Advanced statistical analysis and data modeling

Key Features:

  • Regression analysis, time series analysis, and factor analysis
  • Multivariate analysis and quality control charts
  • Cluster analysis and decision trees
  • XLSTAT is ideal for users working with complex data sets and performing in-depth statistical analysis directly within Excel.

How to Use XLSTAT:

  • Download and install the XLSTAT plugin from the Excel Store.
  • Organize your data in Excel, ensuring it’s in a clean and structured format.
  • Choose from XLSTAT’s wide range of tools for regression analysis, ANOVA, or clustering based on your needs.
  • Apply the chosen analysis method to your data. XLSTAT will process the data and display results in Excel.
  • Review the statistical outputs, which may include tables, charts, and significance tests. Use the insights to make data-driven decisions.

6. Power Query

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Power Query is a powerful data connectivity and transformation tool that allows users to import, transform, and combine data from various sources directly in Excel.

Tell me why this shouldn’t make it to the list of top AI plugins for Excel.

Best for: Data transformation, connection, and automation

Key Features:

  • Automated data extraction from external databases and web sources
  • Data transformation (e.g., cleaning, merging, reshaping)
  • Automatic refresh for data updates based on user-defined rules

How to Use Power Query:

  • Open Power Query from the Data tab in Excel.
  • Use Power Query to import data from external sources like CSV files, databases, and web pages.
  • Apply transformations like removing duplicates, changing data types, and splitting columns to clean your data.
  • Use Power Query to merge or append data from various sources into a unified table.
  • Set up automatic data refresh intervals so that your Excel sheets stay up-to-date without manual intervention.

7. Zapier

Zapier is an automation AI plugin for Excel that connects different apps and services, enabling users to automate workflows and integrate Excel with other platforms seamlessly. Zapier has a free plan that includes 100 tasks per month. 

Best for: Automating workflows and integrating with third-party apps
Free Plan: Includes 100 tasks per month

Key Features:

  • Zapier connects Excel with over 2,000 apps, allowing users to automate workflows and integrate Excel with external platforms.
  • Trigger actions in one app based on changes in another, such as automatically updating an Excel sheet when new data is added to a Google Sheet.

How to Use Zapier:

  • Install the Zapier add-in from the Excel Store.
  • Set up a “Zap” by selecting a trigger event in another app (e.g., when a form is submitted in Google Forms).
  • Choose Excel as the action app and define what should happen in the spreadsheet (e.g., adding a new row of data).
  • Once the Zap is created, turn it on, and let it run automatically without further intervention.
  • Check the Zapier dashboard for updates on completed tasks and automation history.

8. Ajelix

Ajelix simplifies formula creation, automates tasks, and generates VBA scripts. It efficiently translates text into Excel formulas, aids in data cleansing, and empowers data analysis through statistical testing and report generation.

Best for: Simplifying formula creation and automating tasks

Key Features:

  • Ajelix provides text-to-formula generation
  • It automatically generates complex formulas for functions
  • It has VBA automation for repetitive tasks

How to Use Ajelix:

  • Download and install the Ajelix plugin from the Excel Store.
  • Write a description of the task you want to automate or the formula you need.
  • Ajelix will generate the required Excel formula or script based on your description.
  • Use the generated formula directly in Excel, and test it to ensure it meets your needs.
  • Create VBA scripts for repetitive tasks to save time and reduce manual work.

9. Arcwise AI

Arcwise AI offers AI-generated formula suggestions, data cleaning, and automation of tasks like data sorting and summarization. It provides chat-based support for spreadsheet tasks and facilitates the creation of charts and graphs.

Best for: AI-generated formulas, data cleaning, and task automation
Key Features:

  • Arcwise AI offers AI formula suggestions, data cleaning, and automation features to streamline your spreadsheet tasks.
  • It helps with data sorting, summarization, and cleaning, making complex data sets easier to manage.
  • It provides chat support that guides users through tasks, simplifying the process of building reports, charts, and graphs.

How to Use Arcwise AI:

  • Add the Arcwise plugin through the Excel Store.
  • Organize your data in a structured format to ensure Arcwise can effectively clean and process it.
  • Use Arcwise’s AI-powered formula generator by typing your needs into the chat interface. The AI will suggest relevant formulas.
  • UseArcwise AI to automatically clean your data by removing duplicates or invalid entries and sorting it by specific columns.
  • Use Arcwise to build visualizations and reports based on the clean data, generating graphs and charts that summarize your findings.

10. AI-aided Excel Formula Generator

AI-aided is an AI plugin for Excel that helps create formulas by integrating AI functions with GPT-4 technology. It enhances data analysis by automating tasks and providing insights.

Best for: Formula generation using AI and GPT-4 technology
Free Plan: Available with some limitations on the number of formulas

Key Features:

  • The AI-aided Excel Formula Generator integrates GPT-4 technology to assist users in creating formulas with ease.
  • It automates formula generation based on plain text input, reducing the need for users to memorize complex Excel functions.
  • Helps with tasks like data analysis, report generation, and statistical operations through intelligent formula suggestions.
  • Supports advanced calculations without needing an in-depth knowledge of Excel’s formula language.

How to Use AI-aided Excel Formula Generator:

  • Download and install the AI-aided Formula Generator from the Excel Store.
  • In the plugin interface, type a description of the formula or function you want to generate (e.g., “sum the sales figures from column A where the region is North”).
  • The AI, powered by GPT-4, will analyze the input and generate an appropriate formula for your request.
  • Insert the generated formula into the relevant cell in your spreadsheet.
  • Test the formula by applying it to your data. The AI will provide suggestions for improvements if necessary, and you can modify the output based on your needs.

Case Studies Demonstrating the Effectiveness of AI Tools for Excel Analysis

Case Study 1: Datarails Helps Finance Team Streamline Reporting

Datarails, an AI-powered FP&A platform, was implemented by the finance team at a large retail company to streamline their reporting processes.

Before using Datarails, the team spent significant time manually consolidating data from multiple sources into Excel spreadsheets for reporting.

After integrating Datarails with Excel, the finance team was able to:

  • Automatically consolidate data from various ERP systems and data sources into a centralized Excel-based platform
  • Quickly create financial reports and perform scenario analysis using AI-powered features
  • Reduce reporting time from 10 days to just 2 days per month
  • Improve data accuracy and consistency across the organization

The AI capabilities in Datarails enabled the finance team to work more efficiently, make faster decisions, and provide higher-quality insights to the business.

Case Study 2: Ajelix Helps Analysts Translate Business Questions into Excel Formulas

A financial analyst at an investment firm used Ajelix, an AI-powered Excel plugin, to help translate complex business questions into Excel formulas.

The analyst was tasked with analyzing customer churn data to identify key drivers and predict future churn rates.

Using Ajelix, the analyst was able to:

  • Quickly generate Excel formulas to clean, transform, and analyze the churn data
  • Explain the formulas in plain English to share insights with the team
  • Automate repetitive data preparation tasks to save time
  • Collaborate with colleagues to refine the analysis and build interactive dashboards

The AI capabilities in Ajelix empowered the analyst to work more productively, gain deeper insights from the data, and communicate findings more effectively to stakeholders.

The Bottom Line

The integration of AI tools with Excel represents a significant advancement in data analysis and automation.

By leveraging advanced algorithms and machine learning capabilities, Excel becomes more than just a spreadsheet software. It becomes an intelligent assistant that empowers users to extract deeper insights from their data, make informed decisions, and drive business success.

FAQs

1. Is there an AI tool for Excel?

Yes, there are AI tools specifically designed for Excel, such as Numerous.ai, GPT Excel, and Ajelix, that enhance productivity, automate tasks, and provide advanced functionalities within Excel

2. Is GPT Excel free?

GPT Excel offers a free tier that includes features like Formula Generator for Excel and Sheets, Formula Explainer, with limited access to customer support and 4 requests per day. There is also a Pro plan available for more advanced features and increased usage limits

3. Is there a ChatGPT for Excel?

While there isn’t a specific ChatGPT tool designed exclusively for Excel, AI tools like Numerous.ai and GPT Excel integrate AI capabilities, including ChatGPT intelligence, to enhance Excel functionalities and streamline tasks within the spreadsheet software

4. How to use GPT Excel?

To use GPT Excel, you can sign up for a free account or opt for a Pro plan. The tool assists in generating and understanding formulas, creating automation scripts, simplifying SQL queries, and more. Users can leverage its AI capabilities to boost productivity and streamline tasks in Excel, Google Sheets, and Airtablemore. Users can leverage its AI capabilities to boost productivity and streamline tasks in Excel, Google Sheets, and Airtable

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Contributor & AI Expert