This document discusses errors that commonly occur in Excel spreadsheets. It notes that over 1% of formula cells contain errors, 88% of Excel spreadsheets contain errors, and large spreadsheets have more than 12 errors on average. Even renowned economists have made mistakes by incorrectly selecting columns in Excel that had substantial effects. Functional programming is presented as an alternative that offers benefits like type safety, testability and auditability to reduce errors.
3. FPDAYS 2012
Creator of Tsunami
(F# IDE)
Big Data / Machine Learning
Applied Researcher
Business Intelligence
Process Engineering
Social
@tsunamiide
tsunami.io
Earthquake Enterprises
15.
Risk Management was modelled in Excel
Run manually through copy / paste
One of the errors
Sum instead of Average -> halved reported
risk
Social
@tsunamiide
tsunami.io
Earthquake Enterprises
16. “Just because we’re stupid doesn’t
mean everybody else was.”
– Jamie Diamond
Social
@tsunamiide
tsunami.io
Earthquake Enterprises
17.
Even renowned Harvard Economist make
mistakes
“Growth in a Time of Debt” Reinhart and Rogoff
Failed to manually select the correct columns
Substantial effect on the outcome of the study
Incorrect advice given to government policy
makers
Social
@tsunamiide
tsunami.io
Earthquake Enterprises