The aggregate value is a mathematical phrase for the total of several smaller values. Typically, the word is used when a person or group must analyse data from various data sources. The aggregate value is heavily utilised by accountants, statisticians, economists, and financial analysts in their daily job.
Accountants utilise aggregate values to reflect a client’s total deposits from numerous accounts or total expenses from multiple categories. Governments use the aggregate numbers derived from statistical surveys to establish tax rates and allocate funding.
Using aggregate supply curves, economists illustrate the relationship between a nation’s total price level and the quantity of goods and services produced by its suppliers. Aggregate demand curves illustrate the amount of domestically produced products and services that entities are willing to acquire within a given period.
The aggregate values are used by financial analysts to assess which product or service generates the most profit for a client. Due to the prevalence of aggregate value usage, most commercially available spreadsheet software includes an aggregate function. In a spreadsheet, the aggregate function operator returns a single value based on numerous rows of data.