Microsoft Excel is a widely used tool with many uses. It is very good at making spreadsheets and displaying graphs and charts of data. It is easy to use with a little practice and has many advanced tools for advanced users. It can be used as a Grading Tool but does have some shortcommings.
Overall, Microsoft excel gives a good framework for grading, but is overly complicated to set up yourself.
Good Features:
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Easy to use and is supported on most Operating Systems
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Has a good spreadsheet system to organize grades
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Can graph data into histograms, pie charts, and bell curves
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Can import data from many sources
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Can have multiple tabs open at once
Bad Features:
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Is not specifically designed to be a grader
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Some of the tools need I high level of knowledge to use
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Must make the entire grading scheme from scratch includes calculations, layout, extra credit, everything
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Importing system not designed for grading
Missing Features:
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Easy sharing of info over internet
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Restricting access to certain viewers