what are The advantages of using the electronic spreadsheet from manual spreadsheet?

Question

Computer subject: Microsoft excel

Answer 1

This is coming from a Certified Financial Manager and Cost/Price Estimator who is now RETIRED ...

When I first started in the Financial field -- there were no computers, calculators were very expensive (and only had +, -, *, / ... and if you were lucky ... sq rt functions) ... we used paper products and slide rules ...

These were TIME INTENSIVE ... you had to make sure that your handwriting was VERY, VERY CLEAR (no sloppy letters, no mistaking columns, line everything up correctly). MULTIPLE Runs of totals to make sure that what you got on the bottom line was what it SHOULD BE ... (because you needed at least 3-4 trial totals and subtotals), when you needed to submit a typed copy of your financial records -- the typist you had assigned to you had to make sure that EVERY NUMBER was PERFECTLY TYPED in the Correct order ... and that numbers lined up so that the results were what was determined by the paper and pencil/pen copy .. and then again ... trial balances run on the bottom line and intermediate points ... all math done by paper/pencil or slide rules ... and check, re-check, double check ... producing a CLEAN COPY (typewritten) was a process that could (in Actuality!) take MONTHS to accomplish -- and you needed so many clerks, typists, dictation specialists and accounting clerks that it wasn't funny.

WHEN computers (and databases) started showing up ... that was when we started being able to produce our financial estimates/analyses and summaries much faster ... the typed out copy ( meaning starting with the dot-matrix printer) wasn't bad -- but could be misinterpreted because numbers were difficult to read ... and you could only do simple calculations.

As computers (and software) got better (and you could FINALLY do more complicated mathematics -- and we progressed into using Calculus and beyond for determining estimates of cost/price on building any product) .. then we could leave that army of clerks, typists behind ... and lost our secretaries too.

Now the FInancial Manager has to design their spreadsheets from the ground up, program in the analytic tools that they use, and program in the checks/balances that help that financial manager determine whether the results are what is determined by the use in the daily workworld. The range of mathematical functions is so much greater than 20-30 or more years ago .. the science of using Advanced Mathematics in Financial Predictions/Pricing/Analysis has advanced by leaps and bounds, and we produce what once took six months or more in the matter of a week or two at this time!

So the advantage of using Electronic Spreadsheets is a savings in manpower and time ... but .. if you have someone who does not have the knowledge to program their analytic information in correctly (or how to do the analysis in the first place) .. then the results are:

EITHER you have completely correct financial analyses quickly, your checks are accomplished automatically (after all, you programmed in the intermediate checks to make sure that your work is correct) ...

OR ... you have a tremendous mess that can't be corrected at all ... and ... like ENRON (and other companies who hired the 'wrong' people or committed acts of criminal intent) ... you are going to have a company in Financial Collapse and a big, big, big mess (and people are going to jail) in the end of it all.

Answer 2

The biggest advantages are:
(this applies to MS excel and OpenOffice's Calc spreadsheet apps.)

1. Automatic calculations, less chance for human error.

2. When entering data its easier to make corrections or to add to the spreadsheet. e.g. adding/removing rows or columns.

3. Ablity to creat multi-layered spreadsheets

4. Ablity to pull data from spreadsheets to create charts and graphs automatically saving loads of time over doing this manually!

5. Ablity to quickly and easily reproduce copies of spreadsheets as needed as well as ablity to e-mail them too!

6. Storage, electronic ones reside on a hard drive not a filing cabinet.

Answer 3

Do you mean Microsoft Excel vs. Paper and Pencil? I think that you are just kidding us.

With Microsoft Excel, you can develop a speadsheet to get quality results, using formulas. You can also PLUG in "What IF" variables, so you can experiement and make informed decisions. Of course, you have to carefully proof-read your entries.

With paper and pencil, there is always a chance of math errors and mistakes. I hope that you have a good erasure.

Good luck and Happy Computing!

Answer 4

Electronic is easier and if you make mistakes you can just delete and replace whereas the manual spreadsheet can be messy when you make little mistakes.

Answer 5

Time. They are so much easier to fix mistakes. Once you change a number in one cell, it changes the whole spreadsheet. You can also figure different scenarios such as, "what if i paid a different amount for an item, what would my profit be". Much better, once you learn them.

Answer 6

You don't have to write in electronic spreadsheet hence if your hardwriting is bad you don't have to give explanation to your boss.

Answer 7

Electronics Spreadsheet