Excel Spreadsheets Facts and Stats
Here’s a shocking statistic: Almost 90% of Excel spreadsheets have errors in them!
The actual figure stands at 88%, but that’s still a crazily high number for a piece of software used by more than a billion people around the world.
If the odds of a ship sinking while on a cruise were 88%, how many of you would take holidays in anything but a car or plane?
Problems with Excel Spreadsheets
Only a few years ago, a well to do bank in London lost investors billions of dollars, which led to one Forbes reporter to claim, “Microsoft Excel might be the most dangerous software on the planet”.
Not really an accolade to aim for in business, and one that’s hard to forget.
Unbelievably, the bank was simply copying and pasting data from one spreadsheet to another, and that’s how the issue occurred.
Even a simple Google search for “Problems with Excel” displays over 19 million results!
Ouch. Talk about a house of cards!
Why are Excel Spreadsheets so Popular?
More and more often, Excel spreadsheets plague small business operators the world over because of a few simple reasons:
- They’re easy to use
- They come bundled with office software
- They’ve been available for what seems like forever
- Everyone uses them
You might think your business is in the clear and, if you use only one or two spreadsheets with a couple of tabs, you could be all right (although statistics indicate you probably aren’t).
Consider for a minute the incorrect calculations you entered, the exports from multiple business software systems that contain incorrect figures, and the time wasted with staff duplicating data.
Think about how it’s a recipe for disaster. Your business can’t afford it, and you shouldn’t have to.
Alternative to Excel Spreadsheets & Data Duplication
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Spreadsheets are great for beginners but, when it comes time to save money and use real business software, you need a real business solution.
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