Spreadsheet errors are unfortunately common. According to the recent publication, “Twenty principles for good spreadsheet practice,” as many as 90 percent of all spreadsheets used by businesses contain some kind of mistake. This is partly due to the fact that the majority of spreadsheet users are self-taught.
It is true that major spreadsheet programs like Microsoft Excel can be used by those who have limited to no formal training and wish to conduct simple data entry. However, to be used to their full potential, these programs will be put through many complex operations, where the risk of an error is quite high.
For example, one of the benefits of spreadsheet programs is the ability to input complex formulas for the computer to solve instantly. Of course, the more complicated the formula, the greater the chance that a typo or some other error could cause an entirely different result than what users are expecting. For business, this is often all it takes to lose money.
That’s why it is so important to use formula checks on spreadsheets. Keep in mind that any change to rows or columns could have unintended effects on formulas that will result in a different answer.
Businesses and other organizations need to make sure that they can use Microsoft Excel effectively. With the help of an Excel consulting firm, any organization can learn the basics and quickly move on to advanced skills that will prove invaluable in the business world, all while learning how to avoid costly mistakes.