One in five large businesses suffered notable financial losses because of mistakes in spreadsheets, according to a British report. The most common problems involve:
- Typos or bad input
- Mistakes in logic
- Copy and paste errors
- Incorrect hard-coded values
- Cell range omissions or incorrect cell ranges in calculations.
I have a similar problem with excel freezing. Office 365 Personal. My spreadsheet is linked to other spreadsheets within onedrive, every time I try to delete on insert a row it freezes. I have tried coping it to a new spreadsheet but that hasn't worked.
That’s right. When investigators examined the famous “London Whale” trading scandal of 2012, they discovered employees at the world’s largest bank had been making decisions based on bad data from a broken Excel spreadsheet. (It wasn’t the sole cause of the scandal, but it did play a role.)
A spreadsheet is a collection matrices together with some tools to visualize or the manipulate these data. Open source "Excel" replacements like "gnumeric" or "planmaker" have the advantage that they do the math correctly, but they do not solve conceptional problems of spreadsheet programs like Excel. Virtually any real programming language allows to deal with data more reliably and do that in a more modular way
It's possible that Microsoft's Excel is the most dangerous software on the planet. Yes, more dangerous than rogue code running a nuclear power plant, than the Stuxnet that was deliberately sent off to sabotage Iran's nuclear program, worse, even, than whatever rent in the fabric of space time led to the invention of Lolcats. Really, that serious.
- VULNERABLE TO FRAUD
- SUSCEPTIBLE TO TRIVIAL HUMAN ERRORS
- DIFFICULT TO TROUBLESHOOT OR TEST
- OBSTRUCTIVE TO REGULATORY COMPLIANCE
- UNFIT FOR AGILE BUSINESS PRACTICES
- NOT DESIGNED FOR COLLABORATIVE WORK
- HARD TO CONSOLIDATE
- INCAPABLE OF SUPPORTING QUICK DECISION MAKING
- UNSUITED FOR BUSINESS CONTINUITY
- SCALES POORLY
We’ve entered the age of big data, in which more and more companies are seeing the value and importance of data in many different areas of their business, from market and customer research to internal sales figures and HR analytics. But we’ve also entered big data’s awkward teenage years when more companies are getting on the data bandwagon and then using outdated tools to try to visualize and communicate that data: namely, spreadsheets (such as Microsoft's Excel).