Mitigating Spreadsheet Risk in Complex Multi-Dimensional Models in Excel

TL;DR

This paper introduces a PivotModel solution to reduce errors and risks in complex, multi-dimensional Excel models used for planning and analysis, enhancing control and reliability.

Contribution

It presents a novel PivotModel approach that extends Excel's capabilities to better manage complex, multi-dimensional models and mitigate spreadsheet risks.

Findings

Reduces spreadsheet errors in complex models

Enhances control over multi-dimensional data

Improves reliability of Excel-based analysis

Abstract

Microsoft Excel is the most ubiquitous analytical tool ever built. Companies around the world leverage it for its power, flexibility and ease of use. However, spreadsheets are manually intensive and prone to error, making it difficult for companies to control spreadsheet risk. The following solution is designed to mitigate spreadsheet risk for a set of problems commonly addressed in a spreadsheet defined as "complex multi-dimensional models". "Complex" referring to certain types of applications that require functionality such as sophisticated algorithms, challenging hierarchies and database write-back (i.e. planning, forecasting, etc.) and "multi-dimensional" referring to providing capabilities such as reporting, data input forms and ad hoc analysis on the different attributes associated with the resulting model. The solution is defined as a "PivotModel" because it works similarly to a PivotTable but is designed to leverage the robust capabilities of the Microsoft Excel platform.