Actuarial Outpost
 
Go Back   Actuarial Outpost > Actuarial Discussion Forum > Careers - Employment
FlashChat Actuarial Discussion Preliminary Exams CAS/SOA Exams Cyberchat Around the World Suggestions

Browse Open Actuarial Jobs

Life  Health  Casualty  Pension  Entry Level  All Jobs  Salaries


View Poll Results: Amount of time Excel has left
It already is 9 4.71%
less than a year 0 0%
1-5 years 4 2.09%
5-10 years 11 5.76%
10+ years 70 36.65%
Never 80 41.88%
42 years 17 8.90%
Voters: 191. You may not vote on this poll

Reply
 
Thread Tools Search this Thread Display Modes
  #71  
Old 08-11-2013, 05:10 PM
campbell's Avatar
campbell campbell is offline
Mary Pat Campbell
SOA AAA
 
Join Date: Nov 2003
Location: NY
Studying for duolingo and coursera
Favorite beer: Murphy's Irish Stout
Posts: 82,943
Blog Entries: 6
Default

That is just trying too hard.

Maybe I should make a like for that.
__________________
It's STUMP

LinkedIn Profile
Reply With Quote
  #72  
Old 08-12-2013, 08:51 AM
Love Actuarially Love Actuarially is offline
Member
CAS
 
Join Date: May 2011
Favorite beer: Allagash
Posts: 1,289
Default

Quote:
Originally Posted by Vorian Atreides View Post
Excel will become obsolete once =RAND() stops giving the right answers.

Spoiler:


It's too bad the CAS doesn't teach the =RAND() reserving method on any of their exams. The SOA could exploit that hole in the syllabus and put it on their GI track for a competitive edge.
Reply With Quote
  #73  
Old 08-12-2013, 12:45 PM
BG5150's Avatar
BG5150 BG5150 is offline
Member
Non-Actuary
 
Join Date: Jan 2009
Favorite beer: the one you're buying me
Posts: 20,192
Default

Does anyone use Open Office? How does it compare?
Reply With Quote
  #74  
Old 08-12-2013, 01:39 PM
SlowMotionWalter's Avatar
SlowMotionWalter SlowMotionWalter is offline
Member
CAS
 
Join Date: Jun 2013
Posts: 12,208
Default

Quote:
Originally Posted by BG5150 View Post
Does anyone use Open Office? How does it compare?
If you're just doing things at home and don't need to send files to anyone else/can convert to pdf before sending, it's not bad for free.

If your entire company is using it and you never need to send/receive files from outside the company, it's not bad.

For everything else, it's not worth the headaches of double-checking everything to make sure it changed formats ok.

On the plus side, i've used it in the past to remove sheet-level passwords from Excel files (it completely crapped on the rest of the document and I had to fix the parts it changed, but it got the PW off).
Reply With Quote
  #75  
Old 08-12-2013, 04:40 PM
Ron Weasley's Avatar
Ron Weasley Ron Weasley is offline
Member
CAS AAA
 
Join Date: Oct 2001
Studying for naught.
Favorite beer: Butterbeer
Posts: 8,623
Default

Quote:
Originally Posted by BG5150 View Post
Does anyone use Open Office? How does it compare?
Roughly, it's like Excel, but before the ribbon. Works just fine for typical home usage.
__________________
“Fantasy is escapist, and that is its glory. If a soldier is imprisioned by the enemy, don't we consider it his duty to escape?. . .If we value the freedom of mind and soul, if we're partisans of liberty, then it's our plain duty to escape, and to take as many people with us as we can!”
― J.R.R. Tolkien
Reply With Quote
  #76  
Old 08-12-2013, 04:41 PM
Colonel Smoothie's Avatar
Colonel Smoothie Colonel Smoothie is offline
Member
CAS
 
Join Date: Sep 2010
College: Jamba Juice University
Favorite beer: AO Amber Ale
Posts: 47,318
Default

Quote:
Originally Posted by SlowMotionWalter View Post
If you're just doing things at home and don't need to send files to anyone else/can convert to pdf before sending, it's not bad for free.

If your entire company is using it and you never need to send/receive files from outside the company, it's not bad.

For everything else, it's not worth the headaches of double-checking everything to make sure it changed formats ok.

On the plus side, i've used it in the past to remove sheet-level passwords from Excel files (it completely crapped on the rest of the document and I had to fix the parts it changed, but it got the PW off).
Yeah I'm not sure why they added that silly little feature in the first place. Should have had full encryption. Go big or go home.
__________________
Recommended Readings for the EL Actuary || Recommended Readings for the EB Actuary

Quote:
Originally Posted by Wigmeister General View Post
Don't you even think about sending me your resume. I'll turn it into an origami boulder and return it to you.
Reply With Quote
  #77  
Old 11-22-2017, 11:35 AM
Colonel Smoothie's Avatar
Colonel Smoothie Colonel Smoothie is offline
Member
CAS
 
Join Date: Sep 2010
College: Jamba Juice University
Favorite beer: AO Amber Ale
Posts: 47,318
Default

Quote:
Stop Using Excel, Finance Chiefs Tell Staffs
Ubiquitous spreadsheet software that revolutionized accounting hasn’t kept up, CFOs say

Adobe Inc.’s . finance chief Mark Garrett says his team struggles keeping track of which jobs have been filled at the software company.

The process can take days and requires finance staff to pull data from disparate systems that house financial and human-resources information into Microsoft Corp.’s Excel spreadsheets. From there they can see which groups are hiring and how salary spending affects the budget.

“I don’t want financial planning people spending their time importing and exporting and manipulating data, I want them to focus on what is the data telling us,” Mr. Garrett said. He is working on cutting Excel out of this process, he said.

CFOs at companies including P.F. Chang’s China Bistro Inc., ABM Industries Inc. ABM +0.74% and Wintrust Financial Corp. WTFC -0.56% are on a similar drive to reduce how much their finance teams use Excel for financial planning, analysis and reporting.

Finance chiefs say the ubiquitous spreadsheet software that revolutionized accounting in the 1980s hasn’t kept up with the demands of contemporary corporate finance units. Errors can bloom because data in Excel is separated from other systems and isn’t automatically updated.

Older versions of Excel don’t allow multiple users to work together in one document, hampering collaboration. There is also a limit to how much data can be pulled into a single document, which can slow down analysis.

“Excel just wasn’t designed to do some of the heavy lifting that companies need to do in finance,” said Paul Hammerman, a business applications analyst at Forrester Research Inc.

Instead, companies are turning to new, cloud-based technologies from Anaplan Inc., Workiva Inc., Adaptive Insights and their competitors.

The newer software connects with existing accounting and enterprise resource management systems, including those made by Oracle Corp. or SAP SE. This lets accountants aggregate, analyze and report data on one unified platform, often without additional training.

Adobe switched to Anaplan early last year and many of the tasks previously performed in spreadsheets are now done in the system, maintaining “one source of truth,” Mr. Garrett said.

Reports, including about head count, are compiled faster, he said.

P.F. Chang’s finance chief Jim Bell said he switched the company to Adaptive Insights from Excel because it fosters collaboration and cuts down on administrative tasks.

Mr. Bell said he was examining how kitchen staff cuts at the company’s Boston restaurants affected profitability while on a flight from Spokane, Wash., to Phoenix in early October. The company’s northeast regional manager followed along from his office across the country.

“If I was trying to do this on a spreadsheet, it just wouldn’t happen,” Mr. Bell said.

A year ago, Mr. Bell’s team spent hours distributing hundreds of Excel spreadsheets to regional and unit leaders each month for planning and performance tracking of the company’s 415 U.S. restaurants, he said. Now the same process takes minutes.

Excel has been evolving to better serve its many groups of specialized customers, including in the financial community, said Brian Jones, head of Microsoft’s Excel product strategy.

The latest version, launched this summer, allows multiple users to collaborate in a single document, crunch more than 100 million rows of data and comes with automated tools that find trends and suggest visualization, he said.

And while many finance-industry customers might graduate to more specialized software as their needs evolve, most of these solutions have an “export to Excel” button, Mr. Jones said.

“You’re still going to use Excel for the things you’re not using a tailored solution for,” he said.

Excel also has broad reach. Office 365, which includes Excel, has more than 120 million monthly users, said Ron Markezich, Microsoft’s corporate vice president of Office 365.

The company wouldn’t comment on what share of these customers are using the program for financial analysis and accounting.

Wintrust Financial, which operates 15 chartered community banks in Illinois and Wisconsin, dropped Excel in favor of Workiva because of high error rates.

“The CFO would ask: can you tell me how many loans were paid off and how many did you refinance in the last quarter, and we got different answers from different teams,” said Anita Chakravarthy, senior vice president of performance measurement.

Workiva has automatic consolidation at the department level that helps reduce errors and tracks who made changes to the data for easy auditing, Ms. Chakravarthy said.

Kayla Davis, who runs financial planning at ABM Industries, relied on Excel to pull data from a motley of disparate accounting systems, accumulated over decades of mergers and acquisitions.

Since switching to Anaplan in May, her team can give the CFO information more quickly because it doesn’t require as much verification, she said.

“If a job is losing money, you can quickly see what [happens] if we exit that job, what does that do to my entire portfolio,” Ms. Davis said.
https://news.ycombinator.com/item?id=15756062
__________________
Recommended Readings for the EL Actuary || Recommended Readings for the EB Actuary

Quote:
Originally Posted by Wigmeister General View Post
Don't you even think about sending me your resume. I'll turn it into an origami boulder and return it to you.
Reply With Quote
  #78  
Old 11-22-2017, 11:50 AM
ScottKelly's Avatar
ScottKelly ScottKelly is offline
Member
SOA
 
Join Date: Jul 2012
Posts: 301
Default

I'm curious as to how much of a block box these "replacements" for Excel are. I'm skeptical they are superior in ways beyond the program management that was mentioned.
Reply With Quote
  #79  
Old 11-22-2017, 11:52 AM
ScottKelly's Avatar
ScottKelly ScottKelly is offline
Member
SOA
 
Join Date: Jul 2012
Posts: 301
Default

I could see using programs with Excel could become the norm, like using Tableau for dash boarding/automation of reports
Reply With Quote
  #80  
Old 11-22-2017, 11:57 AM
Avi's Avatar
Avi Avi is offline
Wiki Contributor
Site Supporter
Site Supporter
CAS AAA
 
Join Date: Aug 2002
Location: NY
Studying for the rest of my life.
College: Alumnus - Queens College - CUNY
Favorite beer: Stone Ruination IPA
Posts: 14,011
Blog Entries: 3
Default

Excel still remains a very serviceable arithmetic and algebraic scratchpad. In that vein it probably will never disappear.
__________________
All scientists defer only to physicists
Physicists defer only to mathematicians
Mathematicians defer only to G-d!

--with apologies to Dr. Leon Lederman
Reply With Quote
Reply

Thread Tools Search this Thread
Search this Thread:

Advanced Search
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off


All times are GMT -4. The time now is 04:56 AM.


Powered by vBulletin®
Copyright ©2000 - 2018, Jelsoft Enterprises Ltd.
*PLEASE NOTE: Posts are not checked for accuracy, and do not
represent the views of the Actuarial Outpost or its sponsors.
Page generated in 6.18024 seconds with 12 queries