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Researchers found out that88% of all spreadsheets used in business contained errors. (!) An enormous business risk. The advantage of the flexibility of Excel is seen as more important as the disadvantage of (un)controllability and error risks. http://w.marketwatch.com/story/88-of-spreadsheets-have-errors- How do you limit the risks of Excel? - tight control mechanisms? - limiting the use of excel? - replacing Excel by BI tools? - or other measures. ??
Simple re write the formullas. No point in correcting88% errors.
How can you be sure you have not missed any error.
My suggestion are as follows:
by debugging the formula we can remove the errors.
I think that this always the case when you try to use Excell to perform functions which involve decision making and business rules. Such an attempt leads to complicated interconnected sheets which leads to high error rates.
I suggest that if you use system designed to perform such functions and use Excell for what it can do best will get you pass such error rates.
we can use the IF function to control data entry. And lots more count If, average If sum If or access conditional formatting
Best Practice that recreate spreadsheet from ZERO
Limiting the use of excel only for simple cases,using other advanced measuers or systems implementation is the best on a changing work inputs,processes....budget or other variables related to work in order to get the right reports
Excel is good for Analysis, Presentation and User Freindly . To Avoid error there chould be control mechanism. Reporting in excel should be in atleast two format. And Linking tool should be used to control betweeen two spreadsheet.
ERP has its own advantages and disadvantages. And Spread sheets too has its advantages. But Comparision of ERP and Spreadsheet is not so correct
i dont think so , its better to leave Excel , just because it Will Result in human errors, its depend upon the person who control the sheet and he Can contol that erors,
i go with opinion of Tight control mechanisms because every application have some inherent limitation,
limiting the use of Excel not good idea as well as Replaceing , however a debate can be made on other measuers , and depend upon which measure and procedure , used to avoid these risks.
-Using conditional functions ( if , sumif, countif,etc.. ) to control data entry
-Using conditional formatting to highlight errors
-Using data validation
Excel spreadsheets give errors when you use external link or someone delete rows and columns which use in any formula.
Excel is very powerfull tool for analysis and creating dashboard. When you design any dashboard protect your cells and avoid to use external link. I would suggest you to write VBA code instead of complex formula.
