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There is no better way of ‘getting under the skin’ on a problem than to simulate and model it!
Excel is an excellent platform for both, and we atThe Excel Expertsrecommend Excel for your next modelling or simulation project.Especially when paired with a Monte Carlo simulation, an Excel spreadsheet can be a simple, and powerful tool for creating just such a model.
As humans, we are not always very good at assessing risks, or the odds of certain events occurring.
A model will calculate the impact of the decisions we make (and the uncertainties in the inputs), to assess the outcomes that we care about, such as profit and loss, ROI or environmental impact for instance.
As such, simulations are often used to help companies assess the ‘likelihood of outcomes’ from taking a particular course of action or decision.
By traversing all possible decision paths, a simulation can give valuable insights into which course of action should be taken.
Advantages Of Excel Simulation & Modelling
Harness Excels mathematical abilities with minimal effort
Save development time.Use VBA and libraries such asNAG to expand on their abilities when necessary. Excel provides a powerful, feature-rich environment for creating complex mathematical models with very little effort.
Specialist Excel Simulation Knowledge
At The Excel Experts, we have specialised expertise in modelling physical, biological and business systems such as financial planning, stock control and process optimisation. Excel’s flexible structure allows us to rapidly develop Excel simulation models with greater accuracy than generic tools or bespoke programming languages.
Data Visualisation
Excel simulations are able to generate high-quality graphical representations of data for better understanding and analysis. Excel also allows the user to animate and manipulate the data for more detailed visualisation.
Analyse Data Fast!
Use Excel Pivot tables, Data Models, Formulas and Functions. Then useExcel Macrosto push your productivity to the next level.
Display your results
Then display and present your new results, in a stunning dashboard report.
Connect to data sources with ease
Excel is almost without parallel when it comes to connecting to data sources. If it can’t connect ‘out of the box’ it is usually an easy matter to write a data loader for your data.
Looking to harness the power of Excel simulations or modelling? Get in touch with The Excel Experts today and let us help you get the most out of Excel.
We provide Excel simulation solutions tailored to your needs.
Contact us today.
Ben Hiron-Grimes
Ben is the founder and Director/ Head of Data Visualisation at The Excel Experts, a data consultancy creating spreadsheet-based solutions for a range of B2B and B2C businesses. With over 15 years in the industry, Ben has extensive knowledge and skills ranging from data organisation and analysis to advanced 3D visualisation. He's also a WUMA-qualified Tai Chi instructor.
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