Spreadsheets. We use them because they’re easy. Getting started, setting up, inputting data—the simplicity is alluring. But within the simplicity of spreadsheets lies so many failure points—many of them costly, time consuming, and embarrassing.
“. . . while it is incredibly easy to get started making spreadsheets, it’s also incredibly easy to make mistakes that cost companies millions or even billions of dollars.”
-InsightsSquared
Nearly 1 in 5 large businesses has suffered financial losses due to spreadsheet errors, and 1 in 3 large businesses report poor decision making as a result of spreadsheet problems (Forbes).
It’s easy to laugh or shake our heads at such blunders, most of which are caused by human error within a single spreadsheet cell. A missing negative sign. An extra zero. One out-of-place decimal. While it’s possible and recommended to use data validation features, it’s humans that account for errors found in over 88% of spreadsheets.
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