Another week, another embarrassing spreadsheet error. Two Harvard professors conceded that they made a spreadsheet “coding error” in analysis that formed the basis for their recent book.
James Kwak, in an article where he describes spreadsheet modeling problems at JPMorgan, said (of Excel)
Because it’s so easy to use, the creation of even important spreadsheets is not restricted to people who understand programming and do it in a methodical, well documented way.
For more spreadsheet disasters, have a look at the recent Fortune article titled “Damn Excel! How the ‘most important software application of all time’ is ruining the world”.
We’ve written about this before—and, sadly, probably will again.
Every organisation that’s abusing spreadsheets needs to clean house. Now.