Harness The Power of Excel 07 – Optimising your analysis
Paula Turk
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INTRODUCTION
“Time is more valuable than money. You can always get more money, but you cannot get more time.” Wise words from the great Jim Rohn.
Here in the context of Excel, we strongly focus on time – and also the added aspects of efficiency and effectiveness.
EXPENSIVE TIME DELAYS
It is a sad and common reality that all senior managers are busy doing all of their current tasks, and they simply do not have time to create an effective spreadsheet portfolio development strategy and plan.
You would be amazed how many companies totally neglect the simple task of getting data out of their systems.
The real value in your business is in your data – and a major crux is in getting that data to convey the messages that are showing up in your business.
Tell me more about systems
Having an integrated approach between sales and finance is a strong starting point to deliver a better sales strategy – and this is where a consultant operates best.
Once your managers get a firm grip on the systems and processes that lie behind the data, they can tailor your data extracts to really focus on the core requirements of the executives and Board.
Data extraction has a cost too
You may ask why we do not extract huge reams of data and then analyse it all in Excel. There are three main reasons for this.
DATA EXTRACTION AND VISUALISATION
Why everyone needs to plan
In any data extraction strategy, the most crucial requirement is planning. This is not just at the strategic level, but is required at operational levels too.
As with many things associated with planning, which includes simply reviewing where we are today, that time can be viewed as poor value.
Best practices of superlative Excel reporting
CEOs and CFOs instinctively know what is happening – and seek the evidence that backs up their gut feel.
Brain-storming sessions where all the best practices are laid out is a crucial stage in shaking up your Excel delivery.
When the ideas dry up, an external consultant can sow seeds which will then germinate into new ideas being put forward. Then the Brain-storming continues once more.
Efficient working is not always effective working
Does the current format really allow your highly paid managers to explain to the board what is going on in their area in the most succinct way?
The 4 screen approach is highly effective and visually stimulating, containing just enough information without it being too demanding on attention spans, or conversely, too distracting on attention spans. It is the staple layout of many a PowerPoint presentation.
Giving your employees creative flexibility will pay huge dividends – it empowers them and helps you, as CEO, to understand their messages better.
Qu - Is your current format allowing your managers to speak as clearly and loudly as they can?
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REPORTING EFFICIENTLY
Efficient reporting all stems from a definitive spreadsheet strategy, and by applying an iterative process of continual design development.
The necessary Excel roadmap planning to take your reporting timescales to the next level requires engagement with all areas of the business.
Your Excel consultant can present this holistic view – and even more importantly, can help you to formulate a strategy and to develop plans that will rapidly accelerate your reporting cycle.
End users must make better use of data and use Excel to handle it more efficiently – this will naturally free up employee time to develop a strategy for improvement to reporting timescales.
The value can be multiplied several times over when facilitated by an Excel expert from outside the organisation.
CONCLUSION
As in most things, balance is the biggest key in agreeing the best format for board reports.
Internal resource is incredibly useful – and readily available. Sometimes, these improvements are best facilitated by working with an experienced external consultant, who can enhance the internal feedback processes.
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? Paula Turk 2025 - All Rights Reserved
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1 个月So much good stuff in this - from the value in your data to effective use of data that frees up time. Thank you.