Saturday, March 03, 2012

Subject Matter Experts Prefer Excel

Charley Kyd of ExcelUser writes that subject matter experts (SME's) prefer Excel (Microsoft) over third-party alternatives for the following reasons:
  1. Excel allows SME's to begin with their own assumptions, and then build on them. Excel doesn’t force SME's to adapt to a system created by anonymous programmers on a tight schedule.
  2. Excel offers the ability to create more sophisticated models than most third-party packages offer.
  3. SME's typically help their careers more by learning Excel well than by occasionally using one of dozens of competing budgeting and analytical packages.
  4. Small companies and divisions only can afford Excel. And that represents the majority of locations where budgeting happens.
  5. Several excellent tools exist for enhancing Excel for budgeting and forecasting, rather than replacing it.
  6. In this challenging economy, forecasts and budgets often should include data from beyond a company’s four walls. But most third-party tools rely on data controlled by the IT Department, which typically prohibits most third-party data.
  7. Excel is more flexible than dedicated budgeting and forecasting software.
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For the record, this SME has no intention of abandoning Excel anytime soon, if ever...

Source: Kyd, C (2012, February 18), Will Your Company Replace Excel with a Dedicated Budgeting Program? ExcelUser.

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