never mind big data: we're still living in the era of big spreadsheet
Post on 27-Jan-2015
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Data Analytics for Microsoft Excel
Microsoft Excel is a trademark of Microsoft Corporation www.InformationActive.com
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Big Data – Projected to Drive IT Growth
• Gartner Inc. projects that “big data” will drive $232 Billion in IT spending – 2016
• Includes spending on• Storage• Business intelligence• Database• Middleware platforms
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Big Data – Top Sources Today?
• Machine-generated information• Sensors, geo-enabled mobile devices
• User-generated information• Social media, web transactions, social
networks, apps• Have defined how we talk about
information and content management in 2012-13
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But…What About In-House Data?
• Externally generated data is often a shiny object• Pundits and vendors look at big data as
way to transform business, get better insights into customer behavior and buying patterns
• But what about internal patterns and data sources? Often neglected.
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Spreadsheets: The Original User-Generated Content
• Spreadsheets may be unglamorous, but are the original user-generated content to have a material impact on business• Spreadsheets in mainstream use for
over 30 years• Few organizations have applied data
analytics or mined the intelligence held in spreadsheets
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Risks of Neglecting Data Held in Spreadsheets
1. Risk of ignoring the information needed to make consistent decisions
2. Risk of allowing errors and non-compliance proliferate in the dark of untested formulas, rows and columns
Big Data May Get All the Hype Today…But Business Are Run by Big Spreadsheets
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Spreadsheets By the Numbers
• 99.7% of businesses use spreadsheets• 70% of businesses have “heavy” reliance
on spreadsheets for critical business activities
• Yet…only 42% of companies paid attention to spreadsheets as part of risk reporting and assessment
Source: (Deloitte 2009 Study)
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Spreadsheets By the Numbers
• Estimated 90 million computer users in the US workplace…• 60% - 55 million – will use spreadsheets
or simple databases for work
Source: Carnegie Mellon University
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Spreadsheets By the Numbers
• Spreadsheets have an average 5 year lifespan
• Used by 13 different business analysts• Financial analysts spend average 3 hours
a day in spreadsheets
Source: Delft University of Technology
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Spreadsheets By the Numbers
• Errors persist in most spreadsheets and can be hidden sources of risk
• 2-5% of formulae are incorrect• Consistent for both beginner and expert
users• Up to 5% of errors can be material to
business operations and financial health
Source: Professor R. Panko
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How to Reduce the Risks?
• Recommendation #1:• Understand where critical business data
is held – odds are it is in a spreadsheet• Learn how it is being exported,
crunched, analyzed• Inventory and apply information
management principles to essential spreadsheets
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How to Reduce the Risks?
• Recommendation #2:• Invest in analytic tools that can be
understood by typical business workers• Seek out easy-to-use spreadsheet
governance tools that don’t require big IT investment• ActiveData for Excel may be the right
solution for your firm•
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How to Reduce the Risks?
• Recommendation #3:• Don’t pin hopes on big data alone for
improved productivity and operational insights
• Do the analysis and quality assurance on your existing “big spreadsheet” data
• Find historical context to supplement new real-time understanding
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Read More on This Topic
• FierceContentManagement• Article – Nov 5, 2012 “Never Mind Big
Data, We’re Still Coping with the Era of Big Spreadsheets”
• InformationActive Network• Blog Post – Oct 20, 2012 “Big Data
Gets the Hype, But We Still Live in the Era of Big Spreadsheet”
Who is InformationActive Inc.?Founded in 2003, flagship product
ActiveData has Tens of Thousands of users
in over 70 countries.
ActiveData est disponible en
français
InformationActive.com/fr
Download a Free 30-day Trial :
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Online Tutorial Videos :
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