3 Signs Excel Spreadsheets Are a Great Long-Term Bet

Yet another businessperson speaks up for spreadsheets, while survey and user data show Excel’s longevity is a given. 

Daniella Borg has so many daughters you could almost picture her using Microsoft Excel to keep track of them all.

“If you want to survive as a business owner in this industry (or any other for that matter), you’d better love Excel spreadsheets – big, complicated ones – not just cost reports.”

A single mother overseeing the lives of nine (count ‘em) girls ranging in age from 12 to 27, Borg and her brood are the stars of Family Rules, a recently launched reality TV program broadcast in Australia. Her world is obviously busy — maybe almost as busy as Renee Kennedy, one of the show’s producer.

In a diary-style piece on Mumbrella where she walked through a typical day in her life, Kennedy noted that the work she and her producing partner Cody do is not all fun and games.

Kennedy might not work in a finance department, but her deep attachment to Excel — and her willingness to take on complex analysis, using Excel as a database — is telling. As she pointed out, spreadsheets are a foundational piece of business in all kinds of markets. TV production is just the latest example.

“Cody and I have a deep love of Excel spreadsheets,” she said. “If you want to survive as a business owner in this industry (or any other for that matter), you’d better love Excel spreadsheets – big, complicated ones – not just cost reports.”

Financial services, on the other hand, is where you might expect Excel to be as popular as e-mail. And you’d be right. Banking Exchange recently published stats from a survey that shows 86% of total financial services respondents use spreadsheets to supplement their company’s core system, and 75% use spreadsheets for additional modeling and analysis.

“They still like having this familiar standby at hand to supplement more modern analytical tools. What handyman doesn’t have a favorite screwdriver or wrench?” the article said. “Banking’s iron grip on Excel and the like is not just a matter of preference, however. It gets at what banks and other organizations increasingly wish to do with the data they have—and data they know they have to find.”

The allegiance to Excel doesn’t mean its evolution has stalled. In fact, WinBuzzer posted news from researcher 7Park Data that revealed Excel on mobile racked up a higher number of monthly active users last year than Google Sheets for the first time. The analysts weren’t surprised:

“Excel’s steady growth over time suggests an opportunity for Microsoft to claim its place as a leader in office and productivity apps on mobile. The trick is to not just transfer everything one can do using Excel on a desktop to mobile, but also identify different needs and habits of users on-the-go and new opportunities they can bring.”

A lot of what you see on reality TV may be less than true, but the ongoing testimonials, survey data and user growth across different devices are facts you can’t ignore.

The post 3 Signs Excel Spreadsheets Are a Great Long-Term Bet appeared first on Blog | Vena Voice | Vena Solutions.

About the Author

George Papayiannis

As Chief Technology Officer, George directs all aspects of product development, research, engineering and delivery of Vena’s solutions. Prior to co-founding Vena, George gained considerable experience in the software and technology industry in a variety of roles including development, consulting, architecture and design. In his most recent role as an Enterprise Software Architect at IBM, George led complex software architecture engagements for many Fortune 500 companies and managed a large, globally distributed development team based in Brazil, Beijing and France. George is seen as a thought leader in technology, speaking at numerous conferences on topics ranging from web architecture and design to the future of mobile web development. George holds a Bachelor of Engineering degree from McMaster University, specializing in Software Engineering, along with a major in Finance, focusing on Banking and Capital Markets.

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