Why do people in finance use this shitty program so much?

Techpill
Techpill

Why do people in finance use this shitty program so much?

All urls found in this thread:
http://www.practicalstats.com/xlsstats/excelstats.html
Sharpcharm
Sharpcharm

@Techpill

You must be 18+ to post here.

Skullbone
Skullbone

@Techpill
OP cant afford it

Evilember
Evilember

@Sharpcharm
I am over 18 and thus I realize this isn't acceptable

http://www.practicalstats.com/xlsstats/excelstats.html

WebTool
WebTool

Finance guy here. Excel is fine. Finance never has to deal with anything to more than four decimal places and I have never in all my years seen an actual business document use anything more complicated than multiplication and division. The vast majority of Excel documents that even do math are just addition and subtraction. Probably a majority of spreadsheets in the workplace though don't even do math. Excel just gives a tidy format for making lists of things and opens CSV files nicely.

Businesses choose Excel because it plays nice with the rest of the Microsoft Office and SharePoint suite, and new employees are likely to have experience with how to use it.

Finance isn't a laboratory. If your lab needs something more accurate or whizz-bang than Excel then by all means, use that, but this is like complaining that FedEx ships packages in trucks instead of Ferraris.

VisualMaster
VisualMaster

@Skullbone
He pays for software

Illusionz
Illusionz

@VisualMaster
not a poorfag like most of (((biz)))

Dreamworx
Dreamworx

from my experience in corporate america, excel gets the job done.

There is little to no coding needed to be effective, your process can be easily documented, and the program is pretty universal among all businesses.

FastChef
FastChef

@Illusionz
trying to use a meme that you don't understand

girlDog
girlDog

@Techpill
Why do people in finance use this shitty program so much?

Stop complaining like some shifty kike.
Instead learn Excel & VBA. Learn python (Python for Data Analysis from Wes McKinley is a perfect start) and be the fucking greatest hero in the office.

People will come from afar to bask in your data analysis skills. Trust me. Knowing this shit is more important than your five years of university business degree.

Emberburn
Emberburn

People use Excel because it does the job, is the most likely known spreadsheet software and is compatible with the sector's common file formats. You should know .xls, .csv, .xlsx, .pdf and .txt broadly account for up to 98% of the files found in such companies. Frankly, you must have never worked to ask this question. Financially speaking, Microsoft licenses cost nothing. We throw away more than $1,000,000 in data providers alone, and half as much in useless tools. I remember a $30,000 license for poorly converting .pdf to .xls. You don't need anything but VBA and Excel skills in the financial sector. Any additional language would never be solicited.

TalkBomber
TalkBomber

I work in finance I've never heard of this "ex cell"

WebTool
WebTool

@girlDog
Learn both. Normies can "use" Excel, so VBA is a natural fit.

There's very little point in programming if you're still stuck doing all the work after you've automated it.

StonedTime
StonedTime

@girlDog
learned excel/VBA
now all the boomers in the office come to me for IT related problems that I don't know how to fix because I'm not fucking IT

Fucking boomers

whereismyname
whereismyname

@StonedTime
you have to play it subtle.

You can never allow to give the "computer nerd" vibe. Or every old guy fart comes to you to clean up his porn internet history.

Big threat.
But if you play it right, at the right kind of office youre just the excel-pro who is 20% more efficient than everyone else.

Fried_Sushi
Fried_Sushi

why do people use vlookup instead of index match?

Soft_member
Soft_member

@Fried_Sushi
Because vlookup is a meme. Everyone has heard of them and they all think it's fucking magic.

massdebater
massdebater

How do i know when i achieve expert excel status?

iluvmen
iluvmen

@massdebater
when you learn vlookup

kizzmybutt
kizzmybutt

Whats wrong with using pic related instead?

Methshot
Methshot

@iluvmen
i still dont clearly understand how vlookup works, i just select random parts of data and keep on trying until it works. i use excel everyday...

TreeEater
TreeEater

@kizzmybutt
Its support for VBA used to be really spotty so it didn't fit into workflows designed with Office.

StonedTime
StonedTime

@Methshot

Wew lad

Vlookup(look for this value, within this range, when you find it go this many over, false exact match or true something close to it)

FastChef
FastChef

excel is awesome wtf

JunkTop
JunkTop

@StonedTime
vlookup
Wew lad. Learn to index + match

Nude_Bikergirl
Nude_Bikergirl

@JunkTop
this

Lunatick
Lunatick

So i'm a finance major and my school does an okay job at teaching us Excel, but I still feel iffy on it.

What reads / textbooks do you guys recommend that combine financial analysis and building financial models with excel? I'm hungry to learn but don't want to waste money on a textbook that sucks..

Spamalot
Spamalot

@Lunatick
You will learn more about excel in an accounting/finance place in 3 days than you will in all of any business degree

I thought I knew everything about excel because uni taught us it in my finance major, I was in for a suprise

massdebater
massdebater

@Spamalot

Yep

iluvmen
iluvmen

Is knowing excel a marketable skill?
How can I make money using excel?
Can I do freelance job knowing excel + vba?

likme
likme

@FastChef

Wtf i hate vlookup now

TreeEater
TreeEater

@iluvmen

You can make calculations on large amounts of data, model it.

Flameblow
Flameblow

Who here /montecarlo/?

GoogleCat
GoogleCat

@iluvmen
Saying 'proficient in excel' is not marketable. Being able to do Vlookup, Hlookup,Pivot tables etc., and on the more advanced side being familiar with macros and so on is definitely a marketable skill in accounting and finance - even from professionals higher up in the role they will almost always tell you that the most useful thing you can learn for your business career is excel.

Need_TLC
Need_TLC

@WebTool
$1,000 MicroShillings has been deposited into your account

Inmate
Inmate

@Illusionz
Jesus christ, this is just sad.

Soft_member
Soft_member

@girlDog

IT guy here lurking in Veeky Forums. I fucking hate it when people come to me with their issues with VBA errors. luckily our company outsources a lot of Office how-to shit so I have a phone number to give them. i'd love for our company to have people like that in their branches.

TreeEater
TreeEater

@WebTool
What do you mean there is no use? If you automate it then you can shitpost in the saved time, even if you can't leverage it into a promotion.

I agree with those saying its better than a 4 year degree. I got a 3 month internship with a geology degree out of college. Barely knew excel. Geology internship. Learn excel, and vlookup tables after much frustration of copypastin and sorting. Vlookup tables = fulltime lowpaying job. Then business changes, no need for geologist, i'm kept on for operating out databases. Next I move to Access, this brings up pay by 33% and not I am setting up the data infrastructure for the company's well operations. Could lead to big things.

Learn Excel and Access, Profit.

kizzmybutt
kizzmybutt

@GoogleCat
This. I'm the hiring head in my office's Workforce, Forecasting, and BI Analytics team.

Someone says they're proficient with Excel, my immediate question is "How do you perform a vLookup?" VLookup is really the lowest of the 'advanced' commands in Excel, and it's simple as hell (as others have put in, indexing is only marginally more challenging, and less error prone.) If you can't do that, then you really can't do Excel.

Now, you start talking SQL integration, VBA, hell, even Access integration, then you'll pique my interest. Anything shy of that, and I'm going to assume you're going to need help filtering.

Spazyfool
Spazyfool

@Flameblow
In what cases do you use it?
How well does it work in excel?

Im more of a python guy, so im curious.

BlogWobbles
BlogWobbles

It's a bureaucracy thing, not really a finance thing.

In the navy people will type up documents and format them in excel. No I don't know why they don't just use Word. Also excel is never used for any kind of calculations or anything, instead its for fancy table formatting, again, not just using Word.

All training documents are in powerpoint. Even when they'd be better as just a simple word document. Then the powerpoints are printed out 4 slides to a page and carried around for when you're away from the computer, so you can squint at the bullet points.

I've never had my mind blown as hard as my first few weeks doing real navy work.

VisualMaster
VisualMaster

@BlogWobbles
I'm sorry for you but this doesn't happen in finance. Excel is used for calculation—not advanced one, though—as well as Word for documents, and Powerpoint for “real” presentation.

happy_sad
happy_sad

@WebTool
Finance guy
4 decimals not 6
doesn't even mention regression, scenario analysis, forecasting, bond pricing, time value, embedded formulas
all his years

Interesting. I don't think being a cashier is really finance, but to each his own

Raving_Cute
Raving_Cute

Does anyone knows how to get a good webrip of Excel? As a poorfag student, I don´t want to feed the Microjew my money.

5mileys
5mileys

@TreeEater
If you automate shit in a way that normies can't operate you are stuck with the responsibility of doing it and you just get more related shitwork handed to you.

You just become a robot whose job is to process mundane data.

If you create a program that no one can run after you leave is also a stupid thing.

If you are automating personal tasks, then it doesn't matter.

Methshot
Methshot

@Raving_Cute
if you can't afford excel, i think you have other problems on your hand

cum2soon
cum2soon

@Illusionz
buy Winzip as well

Emberburn
Emberburn

@Raving_Cute
Students are usually eligible for free Microsoft Office, look into it.

Supergrass
Supergrass

Guys do I have to know math in able to be proficient in excel or I can survive with basic addition substraction division and multiplication making the program do all the math job for me using formulas?

massdebater
massdebater

@Supergrass
VLOOKUP()
IFERROR()
SUM()
IF()

You'll be find knowing these. You can also combine them such as
=IFERROR(VLOOKUP(IF(x=y,x,y),A:B,2),"")

@Techpill
We use excel a huge amount in aerospace. They use it because
a) it's cheap and everyone has it
b) 99.5% of people don't know what SQL is

It creates it's own problems. Because excel is the only database in use, files of 80k + lines are generated, requiring writing VBA to sort and find. Now when you write it, you not only have to make it accessible for the people populating the data, you also have to lock it down so some idiot doesn't add another column or change a sheet name from "ThisSheet" to " ThisSheet" (note the space). It's a fucking nightmare.

Inmate
Inmate

@5mileys
If you are automating personal tasks, then it doesn't matter.
What kind of retarded comment is this? It's lightening up your workload.

CouchChiller
CouchChiller

@Techpill
Corporate resistance to change. Its just been used for so long and there are so many retards that work in finance that have no interest in improving there own skills or understanding anything about data

I worked with my proff on a small fund, and everything was done with mysql, R, and C++. It made it a lot easier when everyone understood it.

I couldn't imaging having to create a financial model in excel after using R

VisualMaster
VisualMaster

@massdebater
It's a fucking nightmare

I absolutely know how this feels. People sharing and working on huge datasets in excel across multiple files is awful. There's so much potential for error and trying to understand anyone elses work or decipher their model is next to impossible.

ZeroReborn
ZeroReborn

@massdebater
God damn, that last paragraph really hits home

ZeroReborn
ZeroReborn

@5mileys
It's happened a few times at my work that someone has made some sort of system or software that has become widely used by a lot of people, but no one else knows how it really works, and when they've left the company or been made redundant they soon get offered a lot more money than they were on to come back and help them use it again.

haveahappyday
haveahappyday

@massdebater

When you know all the excel shortcuts.

In investment banking it is a must, you have to progressively learn them all. Otherwise you're fucked

5mileys
5mileys

@massdebater
@iluvmen

When you know them, let's just say you are at an bottom-low average level. Not advance. You are nearer beginner than advance level. Wtf

CodeBuns
CodeBuns

@kizzmybutt
give me a job

Stupidasole
Stupidasole

@Techpill
Same reason they use Windows for an OS.

Illusionz
Illusionz

work at a shit bank
no reporting system
the wagecucks dump million line data sets directly from the erp system
do a pivot table

5mileys
5mileys

@Techpill
I agree. Vlookup is for faggots why not just press ctrl+f

JunkTop
JunkTop

I use excel , r, and minitab

iluvmen
iluvmen

@5mileys

Dude what?

You think you're smart but youre actually quite dumb

Inmate
Inmate

Doing an MBA just means you weren't smart enough for a STEM

TreeEater
TreeEater

@happy_sad
4 decimals not 6
Banks work to four digits. Disbelieve me if you must but I work with this stuff every day.

doesn't even mention regression, scenario analysis, forecasting, bond pricing, time value, embedded formulas
If you are doing this shit in a spreadsheet on your personal computer you are too pleb to be worth the time of day. All this stuff is done on mainframes.

inb4itroluhurrhurr

Fuzzy_Logic
Fuzzy_Logic

@5mileys
Kek you have no idea what you're talking about

Dreamworx
Dreamworx

first time i hear about vlookup... so, it's basically a gimped sumproduct() for text or am i missing something? i'd have figured people in finance mostly deal with numbers in their tables, not text.

still quite handy. i'm using complex sumproduct() formulas every day. so when i sometimes encounter text strings i've so far just cobbled together my own version using sumproduct() to locate the cell to find it's row/column which i then plug into index() to read the cell. never really bothered to look for an out of the box function. now i feel stupid...

Need_TLC
Need_TLC

Excel is a pretty good application but most people are too dumb to use it

cum2soon
cum2soon

@happy_sad
doesn't even mention regression, scenario analysis, forecasting, bond pricing, time value, embedded formulas
who does this in excel?

takes2long
takes2long

@cum2soon

Undergraduates

Emberburn
Emberburn

@Techpill
bc they are afraid of snakes

SniperGod
SniperGod

@massdebater
What? Can't people just look up those 4 functions on google in 20 minutes?

w8t4u
w8t4u

@girlDog
learn VBA

Literally no point if you can use pandas and numpy, famalam.

You're spot-on other than that. Analyst here btw.

In answer to OP, excel is useful garbage, It's shitty, crashes a lot, and the syntax is a clusterfuck, but it's relatively easy for normies (read: old HR ladies) to use somewhat.

Having to do basic Excel shit for normies because they're too lazy to learn is terrible though.

Excel IS good for extremely detail-orientated work on small datasets, but anything serious and you'd want to use python

lostmypassword
lostmypassword

@massdebater
iferror

U wot m8

Why would you ever need error handling for a vlookup.

Also
no countif

Disable AdBlock to view this page

Disable AdBlock to view this page