Read Example1 and explain your take away. Add additional information. Your document should include minimum 200 words plus credible references.
Spreadsheets have excellent tools used to input, track, analyze, andstore data. The advantages of excel are organizing data, streamlinecalculations and multiple user access. It gives a place for allinformation to be neatly entered into rows, columns, and sort theinformation type. Even when using big data, the raw data can be easilyconverted to visual presentations such as pie charts, graphs, etc. Thestreamline calculations are straightforward and reduce repetitive work.Natter (2019), Once a formula is written and the program has a setcommand, complex calculations can easily be computed for the relateddata that has been input. This allows users to ask what if types ofquestions and to easily get the answers they need without the need torework the calculations. Also, the multiple user access is handy as thesame document can be changed and shared with multiple users; however,only one user can make changes at one time. The disadvantages are thefollowing:
- Lack of control and security
- Susceptible to human errors
- Difficult to troubleshoot or test
- Regulatory compliance challenges
- Hard to manage data security
As an auditor, tools such as visualization of data in different typesof graphs, charts, etc. are essential. Real-time collaboration is alsoan added value, along with the advanced features like pivoting thatworks best for the task is a consideration for an auditor.
If I were to sell the idea of an alternative to Excel, I would try toexplain the advantages of the choice, such as google sheets. This is acloud service and has similar features to Excel. In the time of cloudservices, this would be an excellent option to look into. The servicewill be efficient and user-friendly and easy access.
McCormick, M. (2016). 11 Disadvantages Of Using Excel To Manage Your Pricing. BlackCurve
Natter, E. (2019). The advantages & disadvantages of spreadsheets. Small Business
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