How to Calculate TAT in Excel Excluding Weekends and Holidays
Tracking Time to Approval (TAT) is an essential metric for any organization to measure the efficiency of its processes. However, when calculating TAT, it’s crucial to exclude weekends and holidays to get an accurate representation of the time taken for the process. In this article, we will guide you through the steps to calculate TAT in Excel, ensuring that weekends and holidays are not factored into the calculation.
Step 1: Collect Data
The first step in calculating TAT is to gather the necessary data. You will need the start date, end date, and the dates of any holidays or weekends that should be excluded from the calculation. Ensure that you have this information for each instance you want to calculate TAT for.
Step 2: Create a Date Range
To exclude weekends and holidays, you need to create a date range that only includes weekdays. You can do this by using the “WEEKNUM” and “WEEKDAY” functions in Excel. The “WEEKNUM” function returns the number of the week for a given date, and the “WEEKDAY” function returns the day of the week for a given date. By combining these functions, you can create a list of all weekdays in your desired date range.
Step 3: Identify Holidays
Next, you need to identify the holidays that should be excluded from the TAT calculation. You can do this by creating a separate column for holidays and using the “IF” function to check if a given date is a holiday. If it is, you can exclude that date from the TAT calculation.
Step 4: Calculate TAT
Now that you have a list of all weekdays and have identified the holidays, you can calculate the TAT. To do this, subtract the start date from the end date, then exclude any weekends and holidays. You can use the “DAYS” function to calculate the number of days between two dates, and the “NETWORKDAYS” function to exclude weekends and holidays.
Here’s an example formula to calculate TAT in Excel:
“`
=NETWORKDAYS(start_date, end_date, holidays)
“`
Replace “start_date” and “end_date” with the actual dates, and “holidays” with the range of dates that represent the holidays.
Step 5: Create a Formula for Each Instance
To calculate TAT for multiple instances, you can create a formula for each one by copying the formula from the first instance and adjusting the “start_date” and “end_date” cells accordingly.
Step 6: Analyze and Present the Results
Once you have calculated the TAT for each instance, you can analyze the data to identify trends and areas for improvement. You can also present the results in a visually appealing format, such as a chart or graph, to make it easier for stakeholders to understand the performance of your processes.
By following these steps, you can calculate TAT in Excel, excluding weekends and holidays, to gain a more accurate understanding of your organization’s efficiency.
