Issues arise concerned with consilidating departments
Additions or deletions made to some versions but not others can also create variances."Sometimes the differences between spreadsheets are not all that important, or you can work around them, but in many cases it's important not to waste time trying to resolve whose spreadsheet is right, because they could all be wrong," Kugel said.But while spreadsheet errors can certainly cause monumental problems -- Kugel pointed to J. Morgan's .2 billion trading losses that resulted from errors in spreadsheets used for analysis -- he acknowledged that most are fairly innocuous.
Reasons for addressing the social determinants of an issue include: If you want to solve or prevent a problem for the long term, you have to deal with its root causes.
"Spreadsheets bog down processes in many different ways that have a noticeable impact on how long it takes to get work done," Kugel said.
"They're fast [and] easy to set up, but when they're used in collaborative, repetitive enterprise processes, they become time wasters." "Individuals can immediately translate their thoughts about what to present and how to present it in a format that makes sense to them; they can update and modify it whenever they wish, and the change is instantaneous," he said.
Although using Excel often saves time up front because people are familiar with the program and therefore do not need to be trained, Kugel said using spreadsheets for finance processes is incredibly time-consuming in the long run.
Survey respondents said they spent approximately 12 hours each month "consolidating, modifying and correcting the spreadsheets they collaborate on with others and reuse frequently," which Kugel said equals about one and a half business days. Kugel said the majority of time users spend with spreadsheets isn't for doing complex work -- they're simply trying to find and correct errors, another weakness of the tool.