How Excel Simulation & Modelling Speeds Up Data Analysis

Modelling-and-simulating-in-Excel

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 at  The Excel Experts recommend 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.

Excel simulation and modelling

Advantages Of Excel Simulation & Modelling

Harness Excels mathematical abilities with minimal effort

Save development time. Use VBA and libraries such as NAG 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 use Excel Macros to 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.


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