Showing posts sorted by relevance for query Excel. Sort by date Show all posts
Showing posts sorted by relevance for query Excel. Sort by date Show all posts

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.
Read More


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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Tuesday, April 06, 2010

Excel in the Future

According to Nenshad Bardoliwalla (2009) of Enterprise Irregulars, Excel (Microsoft) will sustain its lead in the end-user business intelligence (BI) market through 2010 and beyond:
Excel will continue to provide the dominant paradigm for end-user BI consumption. For Excel specifically, the number one analytic tool by far with a home on hundreds of millions of personal desktops, Microsoft has invested significantly in ensuring its continued viability as we move past its second decade of existence, and its adoption shows absolutely no sign of abating any time soon. With Excel 2010’s arrival, this includes significantly enhanced charting capabilities, a server-based mode first released in 2007 called Excel Services, being a first-class citizen in SharePoint, and the biggest disruptor, the launch of PowerPivot, an extremely fast, scalable, in-memory analytic engine that can allow Excel analysis on millions of rows of data at sub-second speeds. While many vendors have tried in vain to displace Excel from the desktops of the business user for more than two decades, none will be any closer to succeeding any time soon. Microsoft will continue to make sure of that.
Excel remains my preferred financial modeling and risk analysis platform for all the reasons cited above (although the copy of Excel on my computer has been "souped-up" for professional use). Visit my website linked elsewhere on this page to learn more.

Source: Bardoliwalla, N (2009, December 1), The Top 10 Trends for 2010 in Analytics, Business Intelligence, and Performance Management, EnterpriseIrregulars.com.

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Visual Basic for Applications (VBA) 7.0

Why Spreadsheets?

Friday, April 16, 2010

From Ledgers to Electronic Spreadsheets

There was a time through the 1970’s when spreadsheets were synonymous with ledger books and paper as shown below. Of course, you can still purchase ledger paper at any office supply store, and many accountants still use ledgers for light bookkeeping and budgeting tasks.

Ledger Paper

However, by the early 1980's the world marveled as the first electronic spreadsheets found their way onto the personal computers of the day. My introduction to electronic spreadsheets began with VisiCalc (Electronic Arts). Below is a screenshot of VisiCalc as it would have appeared on my Apple //e computer back in 1983. At the time, VisiCalc amazed me with its capabilities and potential. Remarkably, VisiCalc still runs on today’s computers (follow the link below for instructions and a free download of the program).

VisiCalc

VisiCalc (Electronic Arts)

VisiCalc was soon followed by the introduction of Lotus 1-2-3 (Lotus Development), which by the mid-1980's was the best selling electronic spreadsheet program on the market. Lotus 1-2-3 (shown below) boasted improved speed and functionality over VisiCalc, as well as the addition of integrated graphing capabilities.

Lotus 1-2-3 (Lotus Development)

However, the emergence of Windows (Microsoft) in 1987 was quickly joined by the arrival of Excel (also Microsoft) as shown below. By the mid-1990's, Windows and Excel had become industry standards in the fast-growing technology sector.

Excel 2.1p (Microsoft)

The spreadsheet technology available today has certainly come a long way since VisiCalc, Lotus 1-2-3, and the early editions of Excel. The latest version of Excel (shown below) now reigns as the the most ubiquitous software application in the world, and is widely regarded to be an essential business intelligence and personal productivity tool with unparalleled capacities to support problem-solving and decision-making.

Excel 2010 (Microsoft)

I have omitted a number of other less popular spreadsheet applications from this short history. However, all spreadsheet programs (including Excel) trace their lineage to the paper ledgers of years past. Some say that spreadsheets have seen their day and will eventually be replaced by something new. Perhaps, but I suspect that whatever comes next will still somehow resemble plain old ledger paper.

Friday, April 30, 2010

Business Intelligence (BI) for the Masses Comes Alive

Microsoft is now marketing new business intelligence (BI) integrations between Excel 2010 (with PowerPivot), SharePoint Server 2010, and SQL Server 2008 R2. By tightening the integration between Excel, SharePoint, and SQL, Microsoft believes that “self-service” BI will finally become a reality resulting in a dramatic increase in the adoption rates of BI technologies.

Microsoft believes the future of enterprise BI is about making everyone a BI practitioner with familiar and affordable tools…. Microsoft hopes to push BI further into the enterprise… by giving end users easier access to the information they need and connecting it to the decision-making process through collaboration tools. The company seeks to do this by integrating SQL Server 2008 R2 with two tools that most users already feel comfortable using: Microsoft Excel 2010 and Microsoft SharePoint Server 2010…. Upgrading to SQL Server 2008 R2 will enable the company to eliminate some third-party BI tools it had previously been trying to use, saving hundreds of thousands of dollars in licensing fees per year, as well as the cost of managing complicated packages that were less efficient…. Today’s release is a step toward bringing BI to the masses. Some 500 million people currently use Microsoft Office, which means 500 million potential BI users. If Microsoft is able to penetrate just 5 percent of this market, that is 25 million new BI practitioners. With SQL Server 2008 R2, PowerPivot for Excel, and PowerPivot for SharePoint Server, Microsoft is making businesses more agile and productive, ultimately allowing end users to drive better business decisions.
Given the ubiquity of Excel, the ingenuity of SharePoint Services, and the arrival of a more versatile version of SQL Server, it seems that Microsoft is now a real contender for leadership in the BI marketplace. The truth is that most people already use one or more of these application already. Moreover, the layered simplicity of Microsoft's upgraded offerings holds strong appeal for CIO's eager to control costs.

Nevertheless, Microsoft's goals are ambitious, particularly if it intends to confront and reverse the current low-adoption rates for BI technologies to date. I'll be keeping an eye on the comments of new BI users to see if Microsoft's solutions are making headway. More to follow...

Source: Microsoft Brings Business Intelligence Deep into the Enterprise with SQL Server 2008 R2 (2010, April 21), Microsoft News Center.

Friday, September 20, 2013

Tatsuo Horiuchi: Excel Spreadsheet Artist

Meet Tatsuo Horiuchi, the 73-year old computer artist who uses Excel (Microsoft) as his palette to create world-class artworks.

Tatsuo Horiuchi (1940- ) standing behind some of his many Excel creations

Follow the link below to learn more about Tatsuo Horiuchi's life and artistic endeavors, as well as to download original Excel files of his acclaimed works.

Read More

Below is an example from Tatsuo Horiuchi's Excel files.

"Cherry Blossoms at Jogo Castle" by Tatsuo Horiuchi (2006)

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Thursday, November 24, 2011

Understanding US Debt via Excel + PowerPivot

For those interested in gaining a deeper understanding of the US national debt, I commend Tyler Chessman's new book, Understanding the United States Debt (2011) and its companion website. Excel (Microsoft) and PowerPivot (Microsoft) users in particular will want to follow the link below to download a free copy of the PowerPivot-enabled Excel workbook (requires Excel 2010 with PowerPivot installed).

Companion Website


To order a copy of the book, follow the link below.

Order Book

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Sunday, March 11, 2012

NodeXL: Open-Source Network Graphing for Excel

Introducing NodeXL, an open-source template for Excel (Microsoft) 2007 and 2010 that makes it easy to explore network graphs. With NodeXL, you can enter a network edge list in a worksheet, click a button and see your graph, all in the familiar environment of the Excel window. Follow the link below to download a copy and learn more.

NodeXL Download Page


The business intelligence tools for Excel just keep getting better. The NodeXL project is sponsored by the Social Media Research Foundation, a group of researchers dedicated to creating open tools, generating and hosting open data, and supporting open scholarship related to social media.

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Tuesday, December 03, 2013

Tabular versus Multidimensional Modeling

According to Microsoft TechNet (2012), the distinction between tabular versus multidimensional modeling is operationally significant for analysts:
Multidimensional modeling, introduced with SQL Server 7.0 OLAP Services and continuing through SQL Server 2012 Analysis Services, enables BI professionals to create sophisticated multidimensional cubes using traditional online analytical processing (OLAP).

Tabular modeling, introduced with PowerPivot for Microsoft Excel 2010, provides self-service data modelling capabilities to business and data analysts. The tabular modeling experience is more accessible to these users, many who have spent years working with data in desktop productivity tools like Excel and Microsoft Access. In SQL Server 2012, tabular modeling has been extended to enable BI professionals to create tabular models in Analysis Services or to import a tabular model from PowerPivot into Analysis Services. Note that a PowerPivot model cannot be imported into an Analysis Services multidimensional model.
Read More

[click to expand]

Business intelligence (BI) analysts who have not yet done so will want to become conversant about PowerPivot for Excel, PowerPivot for SharePoint Services, Analysis Services Tabular, and Analysis Services Multidimensional. Follow the link below to learn more.

Source: Raja, N (2012, May 3). Choosing a Tabular or Multidimensional Modeling Experience in SQL Server 2012 Analysis Services. Microsoft TechNet.

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Sunday, November 20, 2011

Five Attractions of OLAP for Excel Users

Online analytic processing (OLAP) is attractive to Excel (Microsoft) users for five major reasons:
  1. OLAP offers one version of the truth
  2. Fast report development
  3. Immediate spreadsheet updating
  4. Independence from IT
  5. Reduced errors
Follow the link below to learn more about why Excel users are attracted to OLAP.

Read More


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Wednesday, November 09, 2011

Federal Reserve Economic Data (FRED) for Excel

The Federal Reserve Bank of St Louis has released a new Federal Reserve Economic Data (FRED) add-in accessory for Excel (Microsoft). The FRED add-in provides direct access to over 30,000 free data series from a variety of sources (e.g., BEA, BLS, Census, & OECD) directly from Excel. Other key features include:
  • One-click instant download of economic time series.
  • Browse the most popular data and search the FRED database.
  • Quick and easy data frequency conversion and growth rate calculations.
  • Instantly refresh and update spreadsheets with newly released data.
  • Create graphs with NBER recession shading and an auto update feature.
The video below provides a quick summary of features.



Follow the link below to download a copy of the FRED add-in software or to learn more.

FRED

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Monday, July 04, 2011

ModelRisk 4.1 Upgrade Now Available

ModelRisk 4.1 upgrade is now available -- follow the link below to download and install this newest version -- note that ModelRisk 4.1 Standard is free software!


ModelRisk 4.1 is the best in class risk modeling and analysis software add-in for Excel (Microsoft). Every serious Excel user will want to have ModelRisk 4.1 Standard installed on their business computer. Join the thousands of other users from around the world who have adopted ModelRisk 4.1 as their primary risk analysis platform. Follow the link below to download your free copy now...

ModelRisk 4.1

PS: Please help me to get the word out about this free software release by reposting or forwarding this article to your friends and colleagues who use Excel, thanks!

Friday, April 22, 2011

Happy Easter

Here is a quick and easy Excel VBA (Microsoft) user-defined function for determining the calendar date upon which Easter falls during any given year.

Public Function EasterDate(Yr As Integer) As Date
   Dim d As Integer
   d = (((255 - 11 * (Yr Mod 19)) - 21) Mod 30) + 21
   EasterDate = DateSerial(Yr, 3, 1) + d + (d > 48) + 6 - ((Yr + Yr \ 4 + d + (d > 48) + 1) Mod 7)
End Function

To find the date for Good Friday during any specific year, save the above code in your Excel VBA editor and then enter the function in an Excel worksheet. For example, =EasterDate(2011) returns 40657 which converts to 4/24/2011 when the cell is formated for dates. Likewise, =EasterDate(2011)-2 returns the date for Good Friday as 4/22/2011 (as in today).

Happy Easter!

Sunday, November 29, 2009

ModelRisk 3.0: Best in Class Solution for Excel-Based Risk Analysis

I have been a practicing risk modeler and analyst now for over fifteen years, and during that time, I have worked and trained with a variety of popular spreadsheet-based software tools, including Crystal Ball (Oracle) and @Risk (Palisade). Each of these applications enables users of Excel (Microsoft) to incorporate simulations and optimizations into models. However, neither Crystal Ball nor @Risk offers a comprehensive software solution that combines simulation and optimization with stochastic object modeling, time-series forecasting, and multivariate correlation. ModelRisk 3.0 from Vose Software (Ghent, Brussels) combines all of these features into a single application that works seamlessly with Excel.
The tools and techniques made available in ModelRisk have been developed from Vose Consulting’s experience in assessing risk in a broad range of industries over many years, and goes far beyond the Monte Carlo simulation tools currently available. ModelRisk has been designed to make risk analysis modeling simpler and more intuitive for the novice user, and at the same time provide access to the most advanced risk modeling techniques available. (Press release, Vose Software, May 11, 2009)
The latest version of ModelRisk is the most advanced spreadsheet-based risk-modeling platform ever developed and currently stands as the best in class software solution for quantitative risk analysis, forecasting, simulation, and optimization. ModelRisk enables users to build complex risk analysis models in a fraction of the time required to develop custom-coded applications. Open database connectivity further extends the business intelligence capabilities of this integrated platform by enabling access to essentially any data warehousing system in use today.
“Good risk analysis modeling doesn’t have to be hard, but the tools just weren’t there to make it easy and intuitive. So we asked, “If we could start from the beginning, what would the ideal risk analysis tool be like?” says David Vose, Technical Director of Vose Software. “ModelRisk is the result. Users of competing spreadsheet risk analysis tools will find all the features they are familiar with in ModelRisk, but ModelRisk throws open the doors to a far richer world of risk analysis modeling. Better still, ModelRisk has many visual tools that really help the user understand what they are modeling so they can be confident in what they do, and ModelRisk costs no more than the older tools available. We also have a training program second-to-none: the people teaching our courses are risk analysts with years of real-world experience, not just software trainers.”
ModelRisk 3.0 now includes:
  • Over 100 distribution types
  • Stochastic ‘objects’ for more powerful and intuitive modeling
  • Time-series forecasting tools such as ARMA, ARCH, GARCH, and more
  • Advanced correlations via copulas
  • Distribution fitting of time-series data, including correlation structures
  • Probability measures and reporting
  • Integrated optimization using the most advanced, proven methods available
  • Multiple visual interfaces for ModelRisk functions
  • User library for organizing models, assumptions, references, simulation results, and more
  • Direct linking to external databases
  • Extreme-value modeling
  • Advanced data visualization tools
  • Expert elicitation tools
  • Mathematical tools fors numerical integration, series summation, and matrix analysis
  • Comprehensive statistical analytics
  • World class help file
  • Developers’ kit for programming using ModelRisk’s technology
Currently, no other competing software package on the market offers the same comprehensive list or range of features found in ModelRisk 3.0, which is now my primary risk modeling, forecasting, and business intelligence platform. For more information, follow the link below.

Learn More

Wednesday, December 29, 2010

Power Excel 2010

Anyone seeking to learn Excel 2010 (Microsoft) as quickly as possible should consider using the Power Excel 2010 video training linked below:

Thursday, May 19, 2011

ModelRisk 4.0 Standard Available Free

ModelRisk 4.0 Standard (Vose) is now available free – that’s right – free! ModelRisk was already the best-in-class decision modeling and risk analytics add-in accessory for Excel (Microsoft). However, the latest update, ModelRisk 4.0 Standard, is now available for free download as well.


Every serious Excel user will want to download and install ModelRisk 4.0 Standard onto their personal computers in order to activate the following advanced analytical functions in Excel:
  • Stochastic (Monte Carlo) simulations
  • Sensitivity analysis
  • Scenario analysis
  • Bounded, shifted distributions
  • Correlations between distributions
  • One-click function views
  • ModelRisk functions searches and formatting tool
  • Capacity to run external macros before, during, and after simulations
  • VBA and C++ calls to ModelRisk functions
  • Graphical simulation reporting
  • Descriptive statistical reporting
  • Capacity to view and simulation results as worksheets and workbooks
  • Versatile exporting tools
  • Unrestricted speed and model size
  • Capacity to save results in a sharable Results Viewer format
  • Conversion capabilities from other Monte Carlo add-ins tools
  • Extensive help files with example models and literature references covering every feature of ModelRisk 4.0 in detail
Graduate students in particular will find ModelRisk 4.0 Standard to be especially useful for analytics research and coursework -- the fact that ModelRisk 4.0 Standard is now free software (with a perpetual license) makes the case for adding ModelRisk 4.0 to your analytics workstation overwhelming.

Follow the link below to download a free and fully functional copy of ModelRisk 4.0 Standard now.

Learn More

PS: Please help me to get the word out about this exciting free edition of ModelRisk 4.0 Standard by forwarding this post to the expert analysts you work with using the sharing tools below, thanks...

Tuesday, April 26, 2011

Sunday, November 20, 2011

Self-Service Business Intelligence with Excel 2010

For those who have not yet taken a moment to experience the new self-service business intelligence features in Excel (Microsoft) 2010, here's a great overview of those capabilities in action.



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Sunday, February 06, 2011

How to Setup a Football Pool

Have you ever wondered how to setup a football pool at your office or for a party? In fact, setting up an office or party pool is easier than you might think. Simply follow the steps below:

1. Open the Excel spreadsheet template linked at the bottom of this article, and print the contents of the file using a personal computer printer. Your grid will resemble that shown below.


2. Prepare your numbers by writing the numbers 1 through 10 on individual slips of paper. Place the ten slips of paper into a bowl (or hat). Set the bowl aside until after you complete steps 3 through 5.

3. Determine the buy-in amount preferred by your participants (for example, $1 per square to buy-in, which creates a $100 pool).

4. Upon establishing the buy-in amount, decide how much the payouts will be based on game events and record these amounts and events somewhere in the margin space of the grid sheet you created in step 1. Below is a sampling of potential payouts that may be proffered assuming all squares sell for $1 each creating a $100 total pool:
  • End of Q1: $20
  • End of Q2 (half-time): $20
  • End of Q3: $20
  • End of Q4: $20
  • Final score in the event of overtime: $10; if no overtime, Q4 winner wins this as well.
  • Reverse Score: $10
5. Sell all 100 squares for the buy-in amount determined in step 3 and hold the proceeds in safekeeping. As each buy-in is received, record the name of the participant in one of the boxes in the white ara of the grid.

6. Once you have sold all 100 squares (and before the game kicks-off), write the name of either team in the space at the top of the grid sheet created in step 1, followed by the name of the opposing team along the left side of the grid in the space provided. Begin to draw slips from the bowl you created in step 2 above and record the number from each slip in the shaded area along the top of the grid from left to right. After you have filled in all ten spaces across the top, return the slips to the bowl and repeat this procedure filling in the spaces along the left of the grid from top to bottom. You may discard the slips of paper once you finish.

7. Your 10-by-10 grid should now have a team name at the top and at the side. You should also have a number recorded in each box across the top and down the left side of the grid. Finally, you should have the name of one participant in each of the 100 cells contained in the grid.

8. Record the official score at the end of the 1st quarter, the half, the third quarter and the final score.

9. Cross reference the last digit of each team's score at each event using your grid to determine which of your participants wins each payout determined in step 4.

Good luck and have fun!

Excel 10x10 Football Pool Template

PS: Keep in mind that public gambling is a regulated industry in most states.

Tuesday, August 16, 2011

R Project is Real

R Project (or simply, R) has become the analytical software of choice for many data scientists around the world. According to the R website:
R is an integrated suite of software facilities for data manipulation, calculation and graphical display. It includes:
  • an effective data handling and storage facility,
  • a suite of operators for calculations on arrays, in particular matrices,
  • a large, coherent, integrated collection of intermediate tools for data analysis,
  • graphical facilities for data analysis and display either on-screen or on hardcopy, and
  • a well-developed, simple and effective programming language which includes conditionals, loops, user-defined recursive functions and input and output facilities.
For Excel (Microsoft) users, an R interface/add-in called RExcel is available and offers an integration path for analysts who use Excel. I tested RExcel on my personal workstation and found the add-in extensions to be reliable and useful.


R is available as "Free Software" under the terms of the Free Software Foundation's GNU General Public License in source code form. R compiles and runs on a wide variety of UNIX platforms and similar systems (including FreeBSD and Linux), Windows and MacOS.

Analysts and data scientists in all fields who have no yet evaluated R should do so at their earliest convenience. Follow the link below to learn more.

R Project

Thursday, November 25, 2010

Onwards to 64-bit Excel...

Well, it's official -- I leaped from 32-bit to 64-bit Excel earlier today -- I have a client project underway that requires the spreadsheet space, so the move was mandatory -- no looking back...