Introduction
The modern world is full of different types of businesses that apply multiple techniques to lead their jobs smoothly and effectively. All of those techniques impact businesses positively or negatively. A spreadsheet is one of the most common and known tools for managing a company’s activity. It is an integral part of any establishment’s working process. However, it has its advantages and disadvantages that affect a business.
Discussion
A spreadsheet is a program created by Microsoft or Google and is used widely by professionals. Such departments as projects management, financial accounting, human resource management, budgeting, and inventory tracking use spreadsheets, which mainly aim to visualize, store, and analyze multiple data sets (Mooc Blog Team, 2022). Consideration of the advantages and disadvantages of this tool will help to understand its impact on companies and businesses. None of the business departments can imagine their functioning without spreadsheets because this program helps to perform formula calculations (Smith, 2019). Formulas are complicated mathematical combinations of numbers or letters, which are hard to calculate manually, so the spreadsheet is irreplaceable. Another advantage is the possibility of the tool editing the data and automatically correcting the mistakes in calculations, which is impossible to do on paper. The third advantage is the different functions that facilitate the work through automatic data filtering and sorting (Smith, 2019). All of these advantages of spreadsheets have an impact on a company. Such valuable effects as balancing of data loads, accessibility, and functionality are offered to businesses by spreadsheet, which makes the work faster, smoother, and of higher quality. After considering the positive aspects of using this program, the opposing sides have to be described.
Despite a great range of advantages of the tool offered by Microsoft Office, it includes multiple disadvantages, which must be considered. One of the most significant disadvantages is human errors (Mooc Blog Team, 2022). People are data inputters and prone to make mistakes, which may lead to significant problems for a business. Another disadvantage is a colossal database contained in a spreadsheet (Mooc Blog Team, 2022). This problem impacts the tool, and it starts to work slowly and with the breakdowns, resulting in the impossibility of handling the information. Data security represents a threat to a business when a spreadsheet may allow data to migrate, be exported, or fail in storage (Mooc Blog Team, 2022). One more disadvantage to be mentioned is a lack of advanced features, where predictive analytics play an essential role. Considering the disadvantages of the Excel spreadsheet tool, it is worth mentioning that relying heavily on this program is not safe. A business may suffer because the failures in running spreadsheets may harm shareholders and their trust in a company. After considering the disadvantages, it is found that lousy impact is revealed through different errors in data tasks that lead to a company’s malfunctioning.
Conclusion
Conclusively, a modern business cannot imagine its activities without using the essential software of spreadsheets. It is free for workers from different industries to input and analyze the data. It is accessible to users without specific training so that a company may save time and money regarding employees’ training process. One of this tool’s most significant advantages is the ability to use formulas. It positively impacts a company’s working time consumption and effectiveness. However, disadvantages such as lack of security, various errors, and human responsibility are present in a spreadsheet, which may negatively impact any business. So, with all the strengths and risks of the tool, companies have to be attentive to it, as it leads to stable functioning and significant disruptions.
References
Mooc Blog Team (2022). How important is Excel in business? Mooc.org. Web.
Smith, S. (2019). Ways spreadsheets are used I business. Azcentral. Web.