Thought Leadership on Business Intelligence presented by 9DOTS Management Corp, LLC
Have you been hearing a lot of CEOs and business owners talk about how much they hate Excel? We have. And we have a bone to pick with them. What all of these business people tend to forget is that it’s not Excel we can’t stand — it’s spreadsheets! They are not synonymous terms.
Microsoft Excel is a problem-solving tool used by more than 500 million people. Because so many business users are frustrated every day by tons of spreadsheets, they tend to miss out on the true power of Microsoft Excel, the world’s most popular productivity tool. Excel is a part of your entire work day. Maybe it is even the first application you open in the morning, and the last you close out at night. There is just no giving up something that familiar, reliable and useful.
There are tools out there, like the tools here at 9DOTS, that allow you to keep the familiarity and reliability of the work you do every single day, but also eliminate the stressful, rigid and hard-to-use aspects. We often discuss change with our readers, but it is really just adjusting your already familiar processes to stronger, more comprehensive ones. It’s not Excel that is holding you back, but it may be tons of spreadsheets. Here are a few reasons why:
• Human error: Incorrect numbers and calculations can cause a domino effect of mistakes. You work in a fast-paced environment, there is no time for error, and sometimes there’s no time to slow down and be as thorough as you could be. Today, your usual workday and work environment is fast-paced. You need information in real time. With a business intelligence solution that still uses the familiarity of Excel, but eliminates the chance for mistakes, you will be leaps and bounds above the competition that still uses spreadsheets, and you have an even smarter way to analyze your data.
• You can’t forecast as often: With a Business Intelligence forecasting solution that uses the power of Excel, your organization could continuously forecast at least 18-24 periods forward. Months of crunching numbers can be consolidated into days or even hours. Real-time information and managing risk with ease puts you above the rest.
• It’s challenging to add a dashboarding tool to your processes: But dashboards are actually a great, easy way to analyze data. It’s nearly impossible to view and understand multiple spreadsheets at one glance. With a dashboard, you can see charts and graphs that make all of those spreadsheets make sense, eliminating the time you’d spend to understand cells of spreadsheets.
Just like 9DOTS, Excel is a problem solver! Just remember– your problems with spreadsheets aren’t problems with Excel. With a little extra help, you can harness the power tool you have along with 500 million others, but stand out among the rest.