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Stop Using Excel, Finance Chiefs Tell Staffs

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Re: Stop Using Excel, Finance Chiefs Tell Staffs

#431

Earlier quoted context omitted.

I used to be a Lotus Notes specialist, and one interesting thing I noticed is that from the earliest versions it was designed specifically to be a "step up" from a spreadsheet (Lotus of course also made Lotus 1-2-3, which was the original killer-app spreadsheet before Excel took over). Notes still let you see data as rows and columns and had very spreadsheet-like functions, many of which could be transferred directly…

As a Lotus specialist I can see why you'd think Lotus 1-2-3 was the original killer app spreadsheet and as someone who worked retail at the time selling UNIX and Microsoft machines I'd have to say we sold a ton of Lotus 1-2-3. But we have to give Dan Bricklin and Bob Frankston their dues because Visicalc is the original killer app spreadsheet in the literal sense: people used to say they didn't know if Visicalc sold…

You're right - my mistake!

Re: Stop Using Excel, Finance Chiefs Tell Staffs

#432
Excel is remarkable, yes, but I'd argue that given its nature pretty much every reasonably complex workbook can be expected to have at least one bug. Having worked with them a lot in many different contexts, I've seen just how easily errors are introduced and I think they should never be used for research or finance where the cost of errors is high. At it's core the issue is that it's really hard to create variations and tests which can tell you if something is wrong... Much harder than it is to do this in a normal programming paradigm. Yes, the barrier to entry is lower, but the trade-off is much increased error rate and ongoing brittleness. Even if it's "right" at one point there's no guarantee it will be right in the future. What if someone copies/pastes data into a crucial worksheet and misses a column? It's so incredibly easy to screw up!

Re: Stop Using Excel, Finance Chiefs Tell Staffs

#433

Earlier quoted context omitted.

Maybe I did not appreciate it properly, but I remember using Lotus Notes at my work a few years ago, and I can remember it being the most awful piece of software I have ever used. Admittingly I am not a specialist, more an employee trying to use it to do my job.

> I can remember it being the most awful piece of software I have ever used Many people seem to say the same thing but the only problem I could ever see (in occasional use) was a non-standard UI which non-technical users had trouble grasping. What made it so awful?

Bloaty when I used it. Crappy ui. Crashed a lot. (Circa 2007 or so for me)

Re: Stop Using Excel, Finance Chiefs Tell Staffs

#435
post #423

Earlier quoted context omitted.

Excel is an incredible swiss army knife when dealing with one person in one location on one computer, but the warts start showing up when any of those assumptions break. One computer: once you decide you want to use your smartphone, for all but the most basic sheets there are problems with Excel mobile preview, even with Microsoft's official apps. One location: Excel's lack of a universal time (showing different time…

Add another 'one': one point in time. What I mean is that Excel is essentially a write-only language. It's very quick to prototype something for a semi-technical person, but auditing / code-reviewing an Excel sheet later is essentially impossible. The ubiquitous manual loop unrolling doesn't help readability either.

From my experience, this is more dependent on the team/process than Excel. I've worked in investments for several years and auditing Excel sheets was a core, well-run process at several companies I worked for. It was quite easy for smart, non-technical folks to follow formulas and equations to track down why their checks weren't passing.

It also scaled fine to thousands of employees.

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