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Evon Ilyana May 24, 2021 Spreadsheet

In a well-designed spreadsheet, any output can be calculated from the raw data. However, that‘s not always enough. Sometimes the output is fixed and the raw data is variable. Let‘s say you run an investment company and want to offer your clients a fixed return. An Excel expert could create a very complex model to calculate the likely return on investments over a fixed period. You could then calculate the internal rate of return being offered to clients. The problem is that you‘re not interested in the return offered to clients; that is, after all, fixed. Instead you‘re concerned with how much money you expect to draw from the investment fund, whilst still offering your investors a satisfactory return. If you have \$1 and owe investors a quarter, you can calculate your profits using a simple formula.

”Happy crapola!” he exclaimed, rising from the rollered chair and scooping accordion folds of printouts into his tattered briefcase. He snatched his worn black suit coat from a hanger on the back of the office door, switched off the fluorescent overheads, and walked to the executive offices in the adjoining building. When his audit week ended, Lester typically teamed with Lance Lott for a tour of the local watering holes. Lance was a marketing guy he‘d met when he first worked the Bourgeois account. Lance also was single, and resembled Keanu Reeves on a bad hair day. Lester considered him a ”chick magnet,” and although he himself never got lucky on their semi-annual expeditions, the other always disappeared with a babe on his arm. Lester decided, tonight would be HIS night.

Whilst Excel cannot clean or structure all of your data for you it does come with some useful functionality for manipulating and analysing clean and structured data sets. This in-built functionality includes pivot tables, sorting and filtering. Filtering alone is a powerful tool and can help to quickly isolate data based on specified criteria. But what happens if your data is clean but not very structured (a common problem). For instance what if you, a client or your team is using colours, fonts or some kind of formatting to classify data in an Excel spreadsheet. In short, you wont be able to filter the data, because Excel‘s in-built filtering logic requires rules based on numbers, dates and text only. It will not perform filtering based on formats. In addition Excel filtering only applies down rows. It will not perform filtering across columns.

Most planners are good at multi-tasking and have no problems designing a simple spreadsheet to handle a basic budget or designing a form to handle registration. So, you spend your time designing and stressing out. You end up with a variety of forms that each handle a specific need like registration, exhibits, food expenses and budget. The forms are not connected and do not work together. Hence, you end up having to do additional work merging the information from the various forms into your budget. Why do this when there is a Budget Spreadsheet for Meetings on the market that will tie your history, individual forms and budget together? It is so easy that all you have to do is enter the information. The spreadsheet does the rest.

Microsoft Excel is a phenomenally powerful calculator. You can create spreadsheets with 10,000 lines of data and calculate subtotals instantly. Indeed, if you change your data, any totals will get automatically updated. Arguably that‘s not too impressive. If we have quarterly revenues of \$1m, and we secure another \$20k, we can update our subtotal without summing revenues from scratch. So it‘s more impressive that Excel can do the same thing with statistical functions. If you‘ve ever plotted a chart on Excel, you may be aware that you can add a best fit line. These best fit lines are calculated using a method known as regression. Basically, you have to calculate the distance of every single point from the line, and minimise the sum. The maths is a little more sophisticated but the key point is that, every time you change the data, you need to perform the analysis all over again.

It does have one severe limitation. Goal seek is not a formula. It does not permanently reside in the spreadsheet or the selected cells. Therefore you have to re-run Goal Seek each and every time you change the spreadsheet. Often this is acceptable because you have created a model specifically to calculate that one parameter. Having said that, there will be occasions where this is inadequate. What are the plans for your meeting or convention this year? Does it start with a budget or did you even do one last year? If you did one, did you do it the easy way with a Budget Spreadsheet for Meetings? Let us discuss your needs and see what forms and budgets can be facilitated the easy way. If approached correctly, you can cut your ”Hassle Factor” by more than half with the right event template.

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