Prof. Patrick Noonan
Emory University, Goizueta Business School
revised: January 2011
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1
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Across all types of business problem solving, Excel is our common analytical platform.
Excel is a vast language, and nobody knows it all.
◦ Nobody should worry about knowing it all.
◦ Everybody knows a different subset of Excel, depending on where prior experience has led them.
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Tricky transition point: What to do/learn after covering the basic mechanics?
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There are hundreds of Excel books
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None of them are perfect.
Most aren’t even good.
Even the very good books (see references in Appendix 3) are limited in some ways.
There is no Excel book targeted specifically at the needs & capabilities of B-school students…
…yet!
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As with all learning: “Excel learning” comes from “Excel doing.”
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This is a time of platform fragmentation… and transition
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Windows XP  Vista  Windows 7
Office 2003 2007  2010
new Office for Mac OS
Open Office Calc, Google Docs, etc.
Look for these Excel 07 markers…
… or these Excel 03 markers
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1.
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7.
8.
9.
10.
?
Top 10
candidate
Look for the star marker that indicates a likely “Top 10” candidate.
Build your own, personal “Top 10” Excel skills agenda.
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3
What You Should Expect
• Over the next 3 hours we will:
– explore a wide variety of Excel tools & techniques, chosen for their relevance and value in
team-oriented business problem-solving projects, organized by process steps
– review a few Excel foundations along the way
• Together, we will see how we might work a project from beginning to end:
– create an integrated workbook to aid problem-solving and business case development,
using best practices of spreadsheet organization & layout
– import and organize data & assumptions in a spreadsheet
– use Excel formulas to help draw conclusions
– test findings with sensitivity analysis and error checking
– format spreadsheets and charts to enhance communication with teams and clients
– integrate Excel with other parts of the Microsoft Office suite
– make our Excel work interactive… but more idiot-proof
• Our simulated project case is just a jumping off point for your further practice and mastery of
these new ideas and tools. Use your own “Top 10” list to revisit key items more carefully!
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Our Case – the Source of Some of Today’s Examples
• Our team is investigating the near-term prospects for our “client,” Global Warming, Ltd., an
EU-based manufacturer of an industrial-grade heat pump.
• GWL sells its pump world-wide through 6 distributors. Each one is responsible for a major
region in the world (Western Europe, Latin America, Africa-Middle East, etc.).
• Based on some recent information provided about sales, operating economics, and expected
future trends, our team must create some financial pro forma statements for the next three
years.
• In addition to some general projections, we are concerned about some specific questions:
– Which region will contribute the most revenues—and profits—over the 3 years?
– When (or whether?) will Latin America become profitable?
– How might a new quantity discount plan affect operating profits?
– Which trend assumptions might need to be refined further?
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I. Getting Organized
0
1
2
III.
Getting
Value
II. Getting Answers
& Insights
3
4
5
6
7
8
Eight Phases of Project Work
• 0. Sharpening the Tools
• 1. Planning the Work
• 2. Gathering Facts & Assumptions
• 3. Organizing the Inputs
• 4. Building the Analysis
• 5. Checking & Testing the Work
• 6. Interpreting the Results
• 7. Communicating the Ideas
• 8. Sharing & Using the Work
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6
I. Getting Organized
Chapter/
Phase:
Intro/0
Introduction
Planning the
Work
2
Gathering
Facts &
Assumptions
3
Organizing the
Inputs
Focus Area
Focus Area
Focus Area
Focus Area
Focus Area
• Why another
Excel book?
• Making Excel a
productive &
reliable
workspace
• Using hygiene
best practices
• Getting data &
assumptions into
Excel
• Organizing data &
assumptions
• Understanding
Excel’s role in
project and team
work
• Getting ready &
getting around
• Anticipating &
exploiting Excel’s
demands &
features
Key Issues
Key Issues
Key Issues
Key Issues
Key Issues
• Why you should
care about Excel
• Getting to know
your tools
• Problem
Definition
• Basic data
concepts
• Overview of this
book & its
intended use
– our objectives
– how to use this
book /CD
• Excel 2010 vs. 07
vs. Mac, free
(web) vs. paid
(full) versions,
solo vs. team
authoring
• Keeping
assumptions
flexible
• Expectations for
readers:
– Excel
requirements
– Excel
prerequisites
• Using non-Excel
spreadsheet
applications
• Model structure:
– visual flows to
decompose a
problem
– hard-coding vs.
dynamic, what-if
models
• Hygiene principles
for data and
assumptions
• Intro to business
modeling:
– recognizing
problems that
call for sprdsht
modeling
– understanding
& representing
business logic
• The nature &
challenges of
project & team
work
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Sharpening the
Tools
1
• Intro process
framework
• Customizing your
environment:
– analogy of
adjusting a car,
maximizing
performance
– controlling
defaults &
options
– add-ins & other
useful 3rd-party
tools, plug-ins
and applications
• Keyboard
shortcuts & tips
• Editing formulas
• Iteration:
prototyping &
improving models
• Version control;
master file vs.
working files
• Setting up a
workbook
• Visual elements:
– formatting to
convey purpose,
function
– Drawing Tools
– Themes
• Documenting a
model using:
– Tabs
– Comments
• Applying manual
& electronic input
methods
effectively
• Getting ready for
analysis
• Using text
formulas
• Defining data
requests, data
maps, assessing
assumptions,
interviewing
• Sort (including
Custom lists)
• Building data &
assumption tabs
• Named Ranges
• Manual entry &
user input tools:
– Data Forms
– AutoFill
– Data Validation
• AutoFilter
• Lists
• Working with
dates & times
• Restructuring data
sets: combining &
consolidating
• Electronic entry
tools
• Parsing and
cleaning data
• Importing data
• Testing and
validating data
(error checking &
descriptive
statistics)
• Linking to external
data sources
continued
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II. Getting Answers & Insights
Chapter/
Phase:
continued
4
Building the Analysis
5
Checking &
Testing the
Work
III. Getting Value
6
Interpreting
the Results
7
8
Communicating
the Ideas
Sharing & Using
the Work
Focus Area
Focus Area
Focus Area
Focus Area
Focus Area
• Building the
worksheet
machinery, i.e.
the calculations
• “Getting it right”:
verifying integrity
of the work
• Getting “so what”
insights from the
model
• Thinking visually
• Delivering complete,
business-ready model
• Validating results
• Increasing clarity &
impact
• Sanity checking
model
• “Keeping it right”:
maintaining integrity
of work
Key Issues
Key Issues
Key Issues
Key Issues
Key Issues
• Model building
tips & tricks
• Testing a model:
– data & assns
– calc’n logic
– output
• Checking
“business logic”:
– using industry
benchmarks &
client “rules of
thumb”
– linking back to
prob defn
– starting with
“the answer”
• What outputs are
needed… really
• Inheriting a model
• Building
calculation tabs
• Basic calculation
concepts:
– order of
operations
– take advantage
of relative and
absolute cell
references
• SUMPRODUCT
• From IFs to
LOOKUPs
• Using logical
values & fns
(True/False, 0/1,
OR/AND, etc.)
• Key families of
formulas
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• Interacting w/Excel,
integrating w/teams
and end users
• Sensitivity of key
variables
• Data Tables
• Conditional
Formatting
• Auditing
• Pivot Tables
• GoTo Special/F5
• Database
formulas
• Watch Window
• Goal Seek
• Pointers to
resources for
specialized
analytical
techniques :
– Statistical
analyses
–Financial
analyses
– Optimization
(using Solver)
– Simulation
(using RAND)
• Explaining
assumptions &
conclusions
• Building output tabs
• Creating effective
tables, charts &
graphs
• Charts & graphs:
– cleaning up
Excel’s default
chart formats
– changing &
creating types &
Templates
– Scatter plots
– Trend lines
– histograms
– chart tricks, tips
• Creating idiot-proof
turn-key models:
– training & guidance
– demos
– documentation
• Hyper-linking for
internal navigation
• Hiding elements:
– sheets, columns,
rows, etc.
• Protecting elements
–encryption
– file passwords
• Sharing workbooks
– Shared wkshts
– Tracking Changes
• Pivot Charts
• Form Controls for
interactivity
• Printing options,
tricks & tips
• Using Scenarios to
simplify sensitivity
• Exporting &
integrating into
other applications &
documents
• Creating & using
Templates
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I. Getting Organized
0
1
2
II. Getting Answers & Insights
3
4
5
6
III. Getting Value
7
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Eight Phases of Project Work
• 0. Sharpening
the Tools the Tools
0. Sharpening
• 1. Planning the Work
• 2. Gathering Facts & Assumptions
• 3. Organizing the Inputs
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0
Main Issues in Phase 0
[see Appendices 1 & 2 for specific Excel steps]
• Making Excel a Productive & Reliable Workspace
• Getting Ready (and Getting Around)
• configuring Excel for appearance & functionality
• learning to navigate expertly within Excel workspaces
Excel techniques and tools for Phase 0
• Invest some time to get to know your tools!
• Customizing Excel to suit needs & preferences, for example:
– controlling editing & data entry options
– enabling AutoComplete
– making keyboard shortcuts & ScreenTips visible
– controlling the default font
– controlling behavior of cell comments
– controlling display of grid lines & zeros
– switching between Auto and Manual recalculation
– activating Data Analysis ToolPak “Add Ins” (and Solver, etc.)
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10
I. Getting Organized
0
1
2
II. Getting Answers & Insights
3
Eight Phases of Project Work
•
•
•
•
0. Sharpening the Tools
1. Planning the Work
2. Gathering Facts & Assumptions
3. Organizing the Inputs
4
5
6
III. Getting Value
7
8
Customize your environment
Control appearance & functionality
Activate key add-in packages
Learn keyboard & editing shortcuts
• 4. Building the Analysis
• 5. Checking & Testing the Work
• 6. Interpreting the Results
• 7. Communicating the Ideas
• 8. Sharing & Using the Work
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1
Main Issues in Phase 1
• Developing a plan of attack
• sketching a strategy for structuring the Excel work
• using good functional design and layout
• anticipating & exploiting Excel’s demands and features
Excel techniques and tools for Phase 1
• Using “hygiene” best practices
– dynamic, “what-if friendly” formulas (vs. hard-coded formulas) 10
– modular design
– making good use of visual elements to convey purpose & function
10
– documentation using tabs & comments
• Iterative development process
– master file vs. working file
– prototyping a model & incrementally improving it
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1
10
The Principles of “Dynamic Business Modeling” (simplified)
• The unique value-added of a spreadsheet program is the ability to ask, “What if?”
• We must anticipate this value, if we want to be prepared to exploit it.
• Rich, real world problems…
– …tend to have multiple sections, which tend to interact with each other in nonobvious ways.
– …are tackled by teams, and over extended periods of time.
• This means that Excel best-practices usually include:
– avoiding “hard coding” values into any formulas, in favor of placing every
assumption value in a visible cell of its own (“dynamic business modeling”).
– breaking a problem into “chunks” or modules, and using separate worksheet tabs
for different chunks of a problem.
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1
Using a “What-if Friendly” Approach (vs. hard-coded formulas)
• In the hard-coded approach, all the assumptions are buried inside a cell.
• The dynamic approach is facilitates identifying - and changing – assumptions.
• Rule of Thumb: “Never put a number inside a formula.”
Watch footer area for
names of example files
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To explore this example, see file: What If.xlsx
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1
Breaking the Problem into Pieces
Inputs
Calculations
Outputs
Problem Parameters:
Data = hard
•solid facts
•often about the past
•unlikely to change
Assumptions = changeable
•beliefs & estimates
•often about the future
•uncertain or variable
•sometimes controllable
•the focus of “What if?”
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Decisions & Action!
Controllable Variables
•our primary choices
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1
This case breaks easily into at least 5 “chunks.”
Data:
2004 sales by region
2004 pricing sample
Assumptions:
Unit cost
Growth rates
- sales by region
- base price
- variable cost
- fixed cost by region
Proposed discount plan
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Calculations
Outputs
2005-07 values for:
sales volume by region
base price 
discount level 
net price
sales revenues by reg.
variable costs
total contribution by reg.
Summary pro formas
Latin America results
Mix of profit by region
Discount levels in effect
etc.
etc.
Decisions & Action!
Inputs
fixed costs
net income by region
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1
Anticipated Excel Structure: 5 separate worksheet tabs
• If the quantity and size of the modules are small…
• Multiple modules can share the same worksheet.
• Turn off grid lines to emphasize modules and their relationship, not the default grid.
• If, as in this case, the modules are expected to be large…
• Put separate modules on separate worksheet tab.
• Double-click on a tab to give it a name.
• Right-click on a tab to format its color (or move, copy or delete it).
• You can always change things later, as your model evolves!
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1
Excel formats can be pushed in infinite ways. We need to have a direction!
• Windows can be:
– tiled, cascaded and hidden
– duplicated, scrolled together, split & frozen
– zoomed or fit to the screen
– named & saved for future use (/View/WorkbookViews/Custom Views)
• Columns & rows can be:
– resized (manually & automatically)
– formatted, hidden, cleared
• Cells can be
– styled (individually, as part of tables, or overall using worksheet themes)
– formatted
•
•
•
•
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Other Excel
“objects”
(charts,
graphical
elements,
etc.) also
have a wide
variety of
formatting
options.
decorated using font type, size, color, borders, fill shading & patterns
aligned, text wrapped, and aimed in any direction
number formatted, using standard or elaborate custom formats
protected or hidden
18
1
Hygiene Best Practices for Spreadsheet Modeling
• Edward Tufte, the “Leonardo da Vinci of data” (New York Times), commands us to:
– Increase the data/ink ratio!
– Avoid “Chart-junk”!
• For simplicity and clarity (and productivity):
– Turn off grids (except for large rectangles of data).
– Turn off display of zeros.
Illustrative Color Coding Palette
– Apply differentiation… but with a light touch!
• for example, minor color & size changes
• bold headers, etc.
data (hard coded)
assumptions (hard coded)
• Color-code cells by function…
or “handling instructions.”
• Tabs, too, can and should be color-coded!
outputs from other sheets
(do not change!)
key outputs
check formulas: All OK
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check formulas: Error message
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1
Anticipate an Iterative Process
•
•
•
•
Except for the simplest examples, models evolve. Plan for it.
Prototype your model, and incrementally improve it as your understanding improves.
Keep a master file (a backup) and experiment on a working copy. Periodically update.
Document what you do.
• Even if no one else looks at your model, you will, sometimes far in the future.
• Your memory is not as good as you think it is.
• Sticky notes get lost and separated from the Excel work.
• The Excel workbook itself can be a good home for its own documentation.
• tabs for documentation
• cell comments
• Start documenting from the beginning of your work, while you still remember!
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1
10
Right-click, or use the ribbon.
Comments can be formatted, resized, repositioned and auto-hidden.
/Review/Comments/…
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21
I. Getting Organized
0
1
2
II. Getting Answers & Insights
3
Eight Phases of Project Work
•
•
•
•
0. Sharpening the Tools
1. Planning the Work
2. Gathering Facts & Assumptions
3. Organizing the Inputs
4
5
6
III. Getting Value
7
8
Use dynamic modeling approach
Align structure with problem modules
Use visual elements with intention
Iterate: Prototype and improve
Distinguish working file vs. master file
Document your work from the start
• 4. Building the Analysis
• 5. Checking & Testing the Work
• 6. Interpreting the Results
• 7. Communicating the Ideas
• 8. Sharing & Using the Work
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2
Main Issues in Phase 2
• Getting hard data & changeable assumptions into Excel
• Applying manual & electronic input methods effectively
Excel techniques and tools for Phase 2
10
•
•
•
•
•
•
•
•
Paste from MS Word (.doc) file
Cut & paste from MS Office content
Import & convert data from plain text (.txt) file
AutoFill
AutoComplete
AutoCorrect
Data Forms
Data Validate
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2
What are the Client Executives’ Best Guesses for 2005-07?
• 2004 sales data are accurate.
• Annual sales growth rates by region will be, in %:
2.1, 4.5, -3.0, 5.0, 0.0, and 7.0 (using a company-standard order for listing the regions)
• Sample of 100 contracts is representative of pricing overall.
• Annual base price growth will be 2.0%.
• Our variable costs were $6.20 per unit in 2004, growing at 4.0% per year.
• Annual fixed costs for doing business in each region are (in $000):
20, 12, 31, 11, 18, 10 (using company-standard order for listing regions)
No increases in fixed costs are expected during 2005-2007
• We will move to an emerging standard in our industry, a quantity discount plan for regional distributors.
• Distributors that sell more than 5000 units in a year will be awarded a 5% rebate for the year (on
all units, not just those above 5000).
• The rebate for distributors exceeding 10,000 units will be 10% of our sales revenues.
What Data do we Have?
• Team Sales.doc
– client email containing sales data (by region) for 4 most recent quarters
• Sample of Prices.txt
– an MIS department-generated report containing information from a random sample of 100 contracts
from last year
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2
Illustrative Solution
for Assumptions Tab
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2
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Excel can communicate with a wide variety of data files (some more easily
and naturally than others).
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MS Office (.xls, .doc, .ppt … and now .xlsx, .docx, .pptx and so forth)
Other spreadsheets (.wk1, .wq1, .wks)
Various pure text formats (.txt, .csv, .prn)
Web pages (.htm, .html, others)
Access (.mdb, .mde)
Other databases (.dbf, .slk, .dif, .odc, .udl, others)
Query files (.iqy, .dqy, others)
Also can conduct dynamic Web & other queries.
Office 2007 introduced a completely new, XML-based file format!
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2
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From many applications, simple cut & paste works perfectly.
◦ Office and other Microsoft applications play together very nicely!
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Your can import sections of web pages using IE (and other browsers!)
◦ drag & drop
◦ cut & paste

You can import from external databases (and web sites!) using /Data/Get
ExternalData/…
◦ tables of data on web pages
◦ Microsoft Access files, SQL servers and other databases
◦ For some enterprise data sources, you may need to have installed Microsoft Query, which is
included with most Excel installation kits.
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2
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2
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2
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2
Using /OB/Open (or, from within Excel 2010 or 2003, using /File/Open)
• To see non-Excel files such as Sample of Prices.txt, you must instruct Excel to list all file types.
• Opening any .TXT file launches an “Import Wizard” tool.
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2
Text Import Wizard, step 1
• Are the fields of fixed length… or delimited (separated by symbols, such as tabs or commas)?
• Select one, then hit Next.
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2
Text Import Wizard, step 2
• Experiment with delimiting symbol(s), and see preview below of resulting columns. Then hit Next.
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2
Text Import Wizard, step 3
• Set the format for each column, if desired. (We can always do this later.) Finish.
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2
Text Import Wizard, step 4
• Final results need reformatting. Hit “select all” button, then double click between any two column headers.
• Don’t forget to save the file in Excel format when you’re done, or you’ll have to do this again next time!
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2
What about Using Cut & Paste, as with the MS Word Table?
• Copying & pasting makes a (fixable) mess - everything in a single column!
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2
After Pasting, use Text to Columns wizard
• First select the entire range of data, then use the menu selection /Data/Data Tools/Text to Columns.
• Series of dialog boxes is same as for Text Import Wizard!
• This wizard is useful for splitting up columns of text in many other settings, too.
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2

Tip for entering items into a rectangular range of data:
◦
◦
◦
◦

Select the range of cells first.
Use the Enter or Tab keys, and cursor will stay within the selected cell range.
Hold Shift+ to reverse direction.
Ctrl+Enter enters value into all selected cells, simultaneously!
Reminder: In the Formulas & Advanced sections of /OB/Options/Advanced
/Editing Options, you can:
◦ control the direction of cursor selection upon hitting Enter.
◦ enable AutoComplete.
 Excel scans column for matching entries:
 Excel makes suggestion for completing a cell; or
 Right-click to select from drop-down pick list.
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2

/OB/ExcelOptions/Proofing/
AutoCorrect Options
/Tools/AutoCorrect
◦ allows shorthand entry
◦ helps Excel correct common text errors


/Data/DataTools/DataValidation lets you
specify what kind of entry must occur in
each cell, reducing entry errors.
Excel 2003’s /Data/Form allowed formbased data entry.
◦
◦
◦
◦
◦
/Data/DataValidation
/Data/Form
No longer in the tool ribbon!
Must add to quick access toolbar (QAT), as follows:
/OB/ExcelOptions/QuickAccessToolbar/
Choose commands from:/
Commands not in the ribbon/Form
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39
2
Using AutoFill
10
• We need to create ordered list of Regions in several places.
– Suppose we already have the ordered list in Data 1 tab. Can just Cut & Paste
– Also we will learn to create Custom List… both AutoFill and Data Sort can exploit custom orderings.
• The lower right of an active cell or range is marked with the AutoFill handle
• Dragging the AutoFill handle and releasing tells Excel to fill the range automatically:
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2
More AutoFill Capabilities
• AutoFill can use horizontal or vertical fill directions.
• AutoFill looks for edges – ride the “double click express.”
• AutoFill can recognize more than simple counting:
– numerical sequences (counting by 2s, 10s, etc.)
– months of the year, days of week, quarters
– more…
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2
“Hidden” AutoFill Options
• Right-click while dragging
• On release, new options appear.
• For example, with dates, can
complete series using only
weekdays (i.e. skip Western
weekends).
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2
AutoFill and Custom Lists
• As we have seen, Excel somehow knows about
days, months, etc. These are built-in Custom Lists.
• Enter any item from a Custom List, drag as usual;
Excel will fill using that list.
• Stay tuned! We will learn to create additional
Custom Lists.
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43
I. Getting Organized
0
1
2
II. Getting Answers & Insights
3
4
5
6
III. Getting Value
7
8
Eight Phases of Project Work
•
•
•
•
0. Sharpening the Tools
1. Planning the Work
2. Gathering Facts & Assumptions
3. Organizing the Inputs
• 4. Building the Analysis
• 5. Checking & Testing the Work
• 6. Interpreting the Results
• 7. Communicating the Ideas
• 8. Sharing & Using the Work
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Distinguish data and assumptions
Build area for flexible assumptions
Define clear data requests
Enter data (spreadsheet file, cut &
paste, import, query, manual)
Text file conversion wizards
AutoFill
AutoComplete
AutoCorrect
Data Forms
Data Validate
44
3
Main Issues in Phase 3
• Getting ready for analysis
• organizing data & assumptions
• “cleaning” the data – testing & verifying
Excel techniques and tools for Phase 3
10
10
•
•
•
•
•
•
•
•
•
•
Text formulas (for cleaning names, etc.)
Named Ranges
10
Data Sort, including Custom Lists 10
AutoFilter
Lists (automatic resizing, quick access to sorting & filtering)
Formulas for dates & times
Combining & consolidating data sets
Some special formulas for data detective work
Formulas for basic descriptive statistics (SUM, AVERAGE, COUNT, etc.)
Review: Replacing formulas with values, using /Paste Special/Values
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3






Document data using comments & tabs: Source? Changes? Interpretations?
Create separate sheets for each major data set.
Use flat, rectangular form: row = observation, column = variable
Don’t just passively
Sort the variables & observations logically.
accept what the
Create clean labels for variables & observations.
source of the data
decided for these
Use consistent, clear formatting.
features! You choose!
• “Freeze” row and column headers.
• Avoid using blank rows or columns. Excel likes rectangles.
• Keep gridlines visible helps the eye follow rows & columns.
• Convert formulas to values
(/Home/Clipboard/Paste/PasteSpecial/Values) when
temporary calculations (e.g. unit conversions, sums, ratios)
are complete. Unnecessary formulas can only hurt.
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Data sections are
different from the
dynamic sections of
the model
46
3
10

LEFT/RIGHT return the leftmost/rightmost characters of a cell.
MID returns a specified number of characters from a specified start point.

LEN returns the number of characters in a text string.

TEXT converts a number to text that looks like a number.
FIXED converts a number to text, using a given number of decimals.
VALUE converts text that looks like a number to an actual number.





UPPER/LOWER convert to all upper/lower case.
PROPER capitalizes initial letters of each word in a string.
…more text formulas on next page…
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3


REPT repeats a specified string of text a given number of times.
CONCATENATE joins text strings (same as formula character “&”).

TRIM removes extra spaces from a text string.
CLEAN strips non-printable characters from a string.

SEARCH/FIND return the position of one string within another.

◦ (not case sensitive/case sensitive)




REPLACE replaces characters within a string.
SUBSTITUTE replaces an old string with a new string.
CODE returns the numeric code for the first character in a string.
CHAR returns the character associated with a given numeric code.
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48
3
Using Text Formulas
• How to extract the Region name from the Zone & Region field?
• Excel has formulas that can manipulate the contents of text cells, for example:
LEFT(G2,3)
returns the 3 leftmost characters from cell G2.
RIGHT(G2,F2)
returns rightmost characters from G2… but how many?
The # of characters returned depends on current value of cell F2.
LEN(G2)
returns the length of the text in cell G2.
etc.
• Zone takes up the first 10 characters (count the spaces, too!): Zone_xx_-_
• Region is everything to the right of those first 10 characters:
– LEN(cell) counts the total number of characters in the cell.
– LEN(cell) - 10 counts the number of characters used by the Region.
– We need that many characters, taken from the right.
Total # characters
• Therefore: Use this fancy combination of text formulas: =RIGHT(cell,LEN(cell)-10)
# characters used for Region
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3
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3
10
How can we sort by our new column, Region?
• Select the entire range of data (including the header row containing labels, or simply select a single
cell within the rectangle.
• Then use the ribbon selection /Data/Sort&Filter/Sort.
/Data/Sort
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3
The Sort Dialog
• We can choose the first
sort “key” from the
drop-down list.
• Excel has automatically
detected that first row
contains header labels.
This makes it easier to
select the column on
which to sort.
• By default, Excel wants
to sort alphabetically
by the values in the
cells… but we do have
some other, more
advanced options.
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3
Completing the
Sort Dialog
• Hit Add Level to create a
second sort key.
• Here, we sort first by Region,
then by Order Date within
each Region.
• Note how Excel detects the
type of information in a
column and adjusts its Order
options.
• We can use the up and down
arrows (and other options at
the top of the box) to manage
the keys.
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53
3
Excel 2007 offers
more sorting power
& flexibility
•
•
•
•
Improved interface
More self-explanatory
More levels of sorting
Easy to manage and
change the order of
the sort keys
• Excel 2003 could sort
by only three or fewer
keys at a time.
• Custom Lists now can
be used on any sort
level.
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10
Creating Custom Lists
• In the /File/Options/Advanced/General
dialog, select Edit Custom Lists.
• Note how Excel already understands
days of the week, months of the year!
• New lists can be added and edited
manually, or by importing a list from a
range of cells that is already in the
desired order.
/OB/Options/Popular/
TopOptions/EditCustomLists
/Tools/Options
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3
Sorting by a Custom List
• Set up Sort as before.
• Select custom order from drop-down Order list.
• (In Excel 2003, we can use a Custom List only for the first sort key.)
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3
• Select a cell in a rectangle of data, then /Insert/Tables/Table (or Ctrl+L).
• Excel guesses range and presence of header row, offers confirmation dialog box.
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To explore this example, see file: Other Examples.xls
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3
10

/Data/Sort&Filter/Filter changes the appearance of a data set (but not the
underlying contents!) by permitting display only those observations (rows)
that meet criteria you set for each variable (column).
To explore this example, see file: Other Examples.xls
/Data/Filter/AutoFilter
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3



Some rows are temporarily hidden (remaining row headers turn blue to signal this).
Remove filter by selecting “all” from pull-down arrow.
Multiple criteria, advanced filtering techniques also are supported.
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To explore this example, see file: Other Examples.xls
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3



Sorting and AutoFiltering features accessible by arrows in header row.
New columns and rows are automatically included in the List if adjacent to the List.
Unlimited number of designated lists are allowed in a worksheet.
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To explore this example, see file: Other Examples.xls
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3
Right-Click on a Selected Range to Name it.
• Range names can apply to individual sheets or the entire workbook.
• Range names can be used various ways, for example navigation (e.g. F5 GoTo)… and even inside formulas!
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3
To explore this example, see file: NEW Examples - Dates and Times.xlsx
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62
3
To explore this example, see file: NEW Examples - Dates and Times.xlsx
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3

You can combine/extract from/restructure existing Excel content:
◦ /Home/Clipboard/Paste/PasteSpecial
 to add, etc. while overlaying sets of data; or
◦ /Data/DataTools/Consolidate
 to combine structured tables; or
◦ /Insert/PivotTable
 to create summaries of data – more later!
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3
Example: two tables of sales data
by month & segment, one for
each region (North & South)
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To explore this example, see files: Region1.xls, etc.
65
3
/Home/Clipboard/Copy the
North table; select identical
cell on South table; then
/Home/Clipboard/Paste/
PasteSpecial/Operation-Add
/Edit/Paste/Special/Operation-Add
Resulting table contains no formulas –
just the cell-by-cell sums of the two
original tables.
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3



Create new worksheet, then complete /Data/DataTools/Consolidate dialog.
Option to create links to source data, i.e. create dynamic formulas.
Excel can match using labels, so tables do not need to be identical.
/Data/Consolidate
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3


Check ranges of each individual variable, looking for outliers and nonsensical values:
=MIN(cells) and =MAX(cells)
Check consistency of related variables.
◦ For example, create new temporary variables that:
 check whether percentages of MECE variables actually add to 100%;
 check whether variables that are logically greater than (or less than) other variables
actually are so;
 etc.



Count missing values, i.e. blank cells: =COUNTBLANK(cells)
Count the zeros in a range: =COUNTIF(cells,“=0”)
To count instances of other situations,
Related formulas include:
put other criteria (also in quotes)
◦ COUNT, COUNTA,COUNTIFS
in this position, e.g. “<0” or “>10”
◦ SUM, SUMIF, SUMIFS
◦ AVERAGE, AVERAGEIF, AVERAGEIFS
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3
Measures of…
Location
Spread
Shape
Association
=AVERAGE ( cells )
gives the mean
= STDEV (cells )
for a sample,
or
= STDEVP (cells)
for a population
=SKEW ( cells )
gives the skewness
=CORREL ( cells1, cells2 )
gives coefficient of
correlation between
variables 1 & 2
= MEDIAN (cells )
=MAX ( cells )-MIN (cells)
gives the range
= PERCENTILE
(cells, p )
th
gives the p percentile,
e.g., p=0.50 gives median
=INTERCEPT (
= MODE ( cells )
=PERCENTILE ( cells, .75)
-PERCENTILE ( cells, .25)
gives IQR (inter-quartile range)
See also: AVERAGEA,
GEOMEAN,
HARMEAN,
TRIMMEAN
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See also:
AVEDEV, DEVSQ,
MAX, MAXA, MIN,
MINA, STDEVA, VAR,
VARP, VARA
See also:
FREQUENCY, KURT, LARGE,
SMALL, PERCENTILERANK,
QUARTILE, RANK
cells1,cells2 )
and
=SLOPE ( cells1, cells2 )
give components of trend
line
See also:
COVAR,
PEARSON,
RSQ
69
I. Getting Organized
0
1
2
II. Getting Answers & Insights
3
Eight Phases of Project Work
•
•
•
•
0. Sharpening the Tools
1. Planning the Work
2. Gathering Facts & Assumptions
3. Organizing the Inputs
• 4. Building the Analysis
• 5. Checking & Testing the Work
• 6. Interpreting the Results
4
5
6
III. Getting Value
7
8
Organize text using text formulas
Data Sort, possibly using Custom Lists
AutoFilter
Lists give quick access to Sort, Filter
Named Ranges
Using dates & times
Combine & Consolidate data sets
Clean & verify data (detective work)
Summarize using statistical formulas
Paste Special/Values
• 7. Communicating the Ideas
• 8. Sharing & Using the Work
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70
I. Getting Organized
0
1
2
II. Getting Answers & Insights
3
4
5
6
III. Getting Value
7
8
Eight Phases of Project Work
• 4. Building the Analysis
• 5. Checking & Testing the Work
• 6. Interpreting the Results
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71
4
Main Issues in Phase 4
• Making calculations & drawing conclusions
• building the worksheet machinery
Excel techniques and tools for Phase 4
10
•
•
•
•
•
•
•
Review: remember the “order of operations”
Review: exploit absolute vs. relative cell references
The SUMPRODUCT formula
The IF formula, and nested IF formulas
VLOOKUP and related table formulas
10
Logical expressions & formulas
Other families of formulas
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10
72
4
• We must determine, for each of the years 2005-2007 (plus 3-year totals), and
for each region (plus world-wide totals):
• sales volume = growth rate applied to 2004 base
• base prices = growth rate applied to 2004 base
• discount rate (rebate %) = depends on regional volume for given year
• net price = base price less applicable rebate %
• sales revenues = sales volume x net price
• unit variable cost = growth rate applied to 2004 base
• total variable cost = unit VC x unit volume
• total contribution = sales revenues - total VC
• fixed cost = growth rate applied to 2004 base
• net income = total contribution - fixed cost
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73
Illustrative Solution for
Calculations Tab
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74
4
Use parentheses for clarity… or to force a different order of calculations
()
^
*
/
+
-
Exponentiation
Multiplication
Division
Addition
Subtraction
(English-speaking) mnemonic for remembering the
sequence of calculations in complex formulas:
“Please excuse my dear Aunt Sally”
Parentheses

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4
10
Saving Time, Reducing Mistakes
• Copying formulas can be much quicker than creating them one-by-one.
• BUT we must indicate how cell references are to be interpreted when a cell is copied!
• For example, consider possible references to cell A1 found in a formula located in cell D11:
=A1
a relative reference
meaning: “point to the cell that is 10 rows higher,
and 3 columns to the left of where you copy me”
=$A$1
an absolute reference
meaning: “no matter where you copy me,
point back to A1!”
=$A1
column-absolute, row-relative
meaning: “point to the cell that is in column A,
but 10 rows above where you copy me”
=A$1
column-relative , row-absolute
meaning: “point to the cell that is in row 1,
but 3 columns to the left of where you copy me”
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Pressing the function key F4
cycles through all 4 combinations!
76
4
10
A Common Financial Calculation: Taking a Weighted Sum or Average
• Consider this calculation: Revenues = Volume x Price, summed over three years
• Multiple ways to perform this common form of calculation:
– explicitly calculate Revenue for each year, then sum across years
– jump directly to formula for three years, e.g. =C3*H3+D3*I3+E3*J3
• saves steps and spreadsheet space, but awkward, error prone formula
– use equivalent but easier formula, =SUMPRODUCT(C3:E3,H3:J3)
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To explore this example, see file: SumProduct.xls
77
4
Using the IF formula… and nested IFs
• In our case, the net price is contingent on unit volume.
• The IF formula is useful for determining contingent values.
• General syntax:
=IF(statement, what value to return if statement is true, what value if it’s false)
– values to be returned can be numbers, or other formulas to evaluate
• In this case:
= IF(cell containing region’s unit volume>5000,0.05,0)
• But wait! There are two levels of rebate, so we need to nest another IF inside the first:
= IF(cell containing region’s unit volume>5000, ,0)
IF(cell containing region’s unit volume>10000,0.10,0.05)
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78
4
Using VLOOKUP tables
•
•
•
•
10
VLOOKUP (and its cousins, HLOOKUP, INDEX, MATCH) use rectangles of data as directories, i.e. lookup tables.
Think of VLOOKUP as a multi-level, scalable IF formula.
Place index values (to be looked up) and corresponding return values in a table.
For example, consider the formula VLOOKUP(volume,C31:D33,2)
– volume refers to a cell containing a region’s annual volume
– The formula looks for volume in the first column of the range C31:D33
– When it finds volume, the formula looks to the indicated column (here = 2, the second column of the
table) and returns the value it finds there
=VLOOKUP(2511,C31:D33,2) would return 0.0%,
=VLOOKUP(12500,C31:D33,2) would return 10.0%, etc.
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4

In this example, the VLOOKUP formula:
◦
◦
◦
◦
looks for the value “Jyrki” in first column of the database range B2:O44
4th argument = 0, which means Excel must find an exact match for “Jyrki”
It finds “Jyrki,” looks across and returns the value in the 3rd column.
Formula returns value: 85
4th argument optional.
Set as 0 (or FALSE) to
require an exact match.
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To explore this example, see file: Other Examples.xls
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4
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81
I. Getting Organized
0
1
2
II. Getting Answers & Insights
3
4
5
6
III. Getting Value
7
8
Eight Phases of Project Work
•
•
•
•
0. Sharpening the Tools
1. Planning the Work
2. Gathering Facts & Assumptions
3. Organizing the Inputs
• 4. Building the Analysis
• 5. Checking & Testing the Work
• 6. Interpreting the Results
Remember the order of operations
Exploit relative/absolute references
SUMPRODUCT
IFs, nested IFs, and VLOOKUPs
Logical expressions & formulas
Other families of formulas
• 7. Communicating the Ideas
• 8. Sharing & Using the Work
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82
5
Main Issues in Phase 5
• “Getting it Right”: verifying the integrity of the work
• Validating results
• Sanity checking the model
Excel techniques and tools for Phase 5
• Sensitivity analysis
– manual
10
– using Data Tables
• Checking for errors using
– Conditional Formatting
– /GoTo/Special
10
– Auditing features
– Watch Window
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10
83
5
Testing a Model Manually
• Validate your work using simple logic and consistency checks.
– For example:
•
•
•
•
Change all growth rates to 0%. Do the associated variables remain flat?
Set prices to 0. Do revenues go to zero?
Now move price up to $1. Do the revenues (and costs and profits) move as expected?
etc.
• Build some intuition for the main drivers of the output.
– Which input assumptions, when swept through reasonable ranges of possible
values, have the biggest impact on the outputs?
– For which (if any) values of the input assumptions would the resulting
recommendation change?
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84
5
10
Testing a Model Automatically using Data Tables
• Manual process
– Plug in value for assumption(s).
– Write down resulting value of output cell(s).
– Repeat until start to go crazy.
• Using data tables, can automate process:
– Set up appropriate table structure, including:
• range of values to plug in for assumptions(s)
• cells that track resulting output cell(s)
– Use /Data/DataTools/WhatIfAnalysis/DataTable to indicate where to
plug in the inputs.
– Marvel at the instant, tidy results.
– If desired, create charts, drive other analyses, etc.
/Data/DataTable
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85
5
One-Way Data Tables
• Consider this very simple income model.
• Given Price, Units and Fixed Costs, we can calculate Revenues and Profit.
• Set up One-Way table to test sensitivity to Units:
– List values to try, along left edge of table.
– Create simple “pointer cells” along top of table. Here we track Revenues and Profit.
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To explore this example, see file: DataTable.xls
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5
Completing the One-Way Table
•
•
•
•
Select entire area of table, including left column and one header row.
Select /Data/DataTools/WhatIfAnalysis/DataTable
Use Column Input Cell to instruct Excel where to plug in values found in left column.
OK! Result is a table containing the values for the formulas at top, given values at left.
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5
Two-Way Data Tables
• Using same model, set up Two-Way table to test sensitivity to Units and Price:
– List values to try, along left edge and top row of table.
– Create a single “pointer cell” in upper left; here we track Profit.
• Use /Data/DataTools/WhatIfAnalysis/DataTable, specify cells for Row Input and Column input.
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88
Illustrative Sensitivity Application:
Latin America Net Profit, 2007,
as a function of PAGR
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89
5
10
/Format/ConditionalFormatting
Making Appearance Dynamic: Controlling Cell Attributes using Content
• In Excel 2003, /Home/Styles/Conditional Formatting can alter font, border and shading based on cell
values -- or even based on true-false formulas relating to other cells in the worksheet!
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90
5
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91
5
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5
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5
10
/Tools/Auditing
Checking the “Wiring” of the Spreadsheet
• Select a cell, then /Formulas/FormulaAuditing; use Trace Precedents and Trace Dependents
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5
/Edit/GoTo
Looking for (or Selecting) Certain Types of Cells
•
•
•
•
Excel has the usual Search & Replace features found in Word and PowerPoint.
Also: GoTo (function key F5, or Ctrl+G, or /Home/Editing/Find&Select/GoToSpecial)
Normally used to move cursor to specified cell.
Using Special button, also can select all cells of a certain type. Good for targeted bulk formatting, too!
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95
I. Getting Organized
0
1
2
II. Getting Answers & Insights
3
4
5
6
III. Getting Value
7
8
Eight Phases of Project Work
•
•
•
•
0. Sharpening the Tools
1. Planning the Work
2. Gathering Facts & Assumptions
3. Organizing the Inputs
• 4. Building the Analysis
• 5. Checking & Testing the Work
• 6. Interpreting the Results
• 7. Communicating the Ideas
• 8. Sharing & Using the Work
© 2011 Patrick S. Noonan NOT
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Test the logic & integrity of the work
Manual sensitivity analysis
Automated SA using Data Tables
Conditional Formatting
Auditing formulas
GoTo Special
Watch Window
96
6
Main Issues in Phase 6
• Getting “so what?” insights from the model
• exercising the model for general insights
• conducting specific analyses for specific answers
Excel techniques and tools for Phase 6
10
10
•
•
•
•
Pivot Tables
Database counting formulas (DSUM, etc.) 10
Goal Seek
Specialized analytical techniques:
• statistical analyses: Analysis ToolPak
• financial analyses
• optimization: Solver
• decision & risk analysis: @RISK, PrecisionTree
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6
10
/Insert/Tables/PivotTable
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To explore this example, see file: Other Examples.xls
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6
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To explore this example, see file: Other Examples.xls
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6
Double-click on
items dragged
inside the table to
select the desired
summary measure
 Count
 Average
 Sum
 Etc.
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To explore this example, see file: Other Examples.xls
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6

Each cell inside the table shows the Average of the variable Quality for the
specific combination of Region and Grade found on the table margins.
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To explore this example, see file: Other Examples.xls
101
6

/Insert/Tables/PivotTable
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6
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6
10

DCOUNT, DSUM, DAVERAGE, etc. require setting up criteria range tables, but permit
more complex types of conditions for whether a cell should be included in a count,
sum, average, etc. Further, these are “live” Excel formulas and completely flexible.
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To explore this example, see file: Other Examples.xls
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6
10


Data
Table
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A Data Table lets us
determine the
output value of
contribution
(profit) that would
result from each
value of an input.
Goal Seek lets us
reverse the
process: it tries to
find an input value
that would lead to
a specified output
value.
To explore this example, see file: NEW Price-Quantity Determination.xlsx
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6
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To explore this example, see file: NEW Price-Quantity Determination.xlsx
106
6


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Goal Seek cannot
tell us what the
best output value is
– it can only work
back from an
output value we
provide it.
Some questions
have multiple
answers, as in this
example (we can
get zero profits at
two different
prices). Goal Seek
will not tell us this
important fact
automatically !
To explore this example, see file: NEW Price-Quantity Determination.xlsx
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6
/Data/Analysis/DataAnalysis
/Tools/DataAnalysis
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6
Date & Time formulas
Math formulas
EDATE, EOMONTH
NETWORKDAYS
WEEKNUM
WORKDAY
YEARFRAC
ISEVEN, ISODD
GCD
LCM
MROUND
MULTINOMIAL
QUOTIENT
RANDBETWEEN
SERIESSUM
SQRTPI
Financial formulas
Engineering formulas
ACCRINT, ACCRINTM
AMORDEGRC, AMORLINC
COUPDAYBS, COUPDAYS, COUPDAYSNC, COUPNCD, COUPNUM,
COUPPCD
CUMIPMT, CUMPRINC
DISC, DOLLARDE, DOLLARFR
DURATION, EFFECT
FVSCHEDULE, INTRATE
MDURATION, NOMINAL
ODDPRICE, ODDFYIELD, ODDLPRICE, ODDLYIELD
PRICE, PRICEDISC, PRICEMAT
RECEIVED
TBILLEQ, TBILLPRICE, TBILLYIELD
XIRR, XNPV
YIELD, YIELDDISC, YIELDMAT
BESSELI, BESSELJ, BESSELK, BESSELY
BIN2DEC, BIN2HEX, BIN2OCT
COMPLEX
CONVERT
DEC2BIN, DEC2HEX, DEC2OCT
DELTA
ERF, ERFC
FACTDOUBLE
GESTEP
HEX2BIN, HEX2DEC, HEX2OCT
IMABS, IMAGINARY, IMARGUMENT, IMCONJUGATE, IMCOS,
IMDIV, IMEXP, IMLN, IMLOG10, IMLOG2, IMPOWER,
IMPRODUCT, IMREAL, IMSIN, IMSQRT, IMSUB, IMSUM
OCT2BIN, OCT2DEC, OCT2HEX
Information formulas
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I. Getting Organized
0
1
2
II. Getting Answers & Insights
3
4
5
6
III. Getting Value
7
8
Eight Phases of Project Work
•
•
•
•
0. Sharpening the Tools
1. Planning the Work
2. Gathering Facts & Assumptions
3. Organizing the Inputs
• 4. Building the Analysis
• 5. Checking & Testing the Work
• 6. Interpreting the Results
Pivot Tables and Database formulas
Goal Seek
Specialized analyses (ToolPak, etc.)
• 7. Communicating the Ideas
• 8. Sharing & Using the Work
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I. Getting Organized
0
1
2
II. Getting Answers & Insights
3
4
5
6
III. Getting Value
7
8
Eight Phases of Project Work
• 7. Communicating the Ideas
• 8. Sharing & Using the Work
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7
Main Issues in Phase 7
• Thinking visually, to increase clarity and impact
• Building the output tab(s)
• selecting key outputs
• using good visual design to increase clarity & impact of insights
• improving the appearance of the work
Excel techniques and tools for Phase 7
10
•
•
•
•
•
•
Improving chart hygiene (cleaning up Excel’s default table & chart formats)
Histograms
10
Scatter plots & simple trend lines
Pivot Charts
Additional printing settings & options
Exporting & integrating Excel results into Word and PowerPoint documents
– static pasted objects
– dynamic embedded spreadsheets
– automatically updating links between files
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7
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Illustrative Solution for
Summary Graphs
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114
7
10
Before…
… and After
To explore this example, see file: Scatter.xls
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7
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7
…or Making it Worse?
• Excel allows easy insertion of a wide variety of
graphical objects
• The Drawing Toolbar controls appearance, and
also has an assortment of customizable shapes
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7
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7


10
Start by finding Min and Max values, and number of observations (Count).
AutoSum tool can find all three of these values.
In this example:
• Min = 27
• Max = 96
• Count = 42
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To explore this example, see file: Other Examples.xls
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7


Create evenly-spaced break points from (roughly) the min to the max.
Start with roughly Sqrt(Count) bins; will probably adjust number for 2nd try.
In this example:
• Sqrt(Count) = 6
or 7
Off to the right of the
data, used AutoFill to
create bins ranging
from 25 to 95, spaced
by intervals of 10
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To explore this example, see file: Other Examples.xls
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7

Select /Tools/Data Analysis/Histogram to get histogram dialog box.
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7
The data we’re trying to chart
Check this only if both the data and bin
ranges contain a label in their first row
The bin range we just built
Where to put
the results
Calculate the
cumulatives
Tip: Select this
field by clicking
on it. Excel
doesn’t do it for
you.
Create a chart
With categorical data, sometimes it makes sense to sort the results
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7
This table is what Excel calculates
from the data
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This is the result of asking for a chart output
of that table. Ouch!
124
7
Excel found no observations below 25; 3
between 25-35, etc.
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From the cleaned-up chart, we can judge
whether we need more or fewer bins.
125
7
10



Select the data ranges
(use Ctrl to select nonadjacent ranges)
Leftmost column will be
assigned to X
(horizontal) axis
Later can switch X and Y
axes in dialog box for
/Chart/SourceData
Can add trend lines, etc.
Scatter of Prices vs. 3-month Previous Prices
Price 3 months earlier

330
320
310
300
290
280
270
260
250
240
230
y = 0.6405x + 94.976
220
210
200
190
190 200 210 220 230 240 250 260 270 280 290 300 310 320 330
Price ($C per 1000 bd ft)
To explore this example, see file: Scatter.xls
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7
To explore this example, see file: Scatter.xls
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7
Created using
“XY Chart Labeler,”
by Rob Bovey
FREE on the Web:
appspro.com
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To explore this example, see file: Scatter.xls
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7
Adding a Trend Line
/Chart/AddTrendLine
• Select the chart, then go to /ChartTools/Layout/Trendline
• On the Options tab, ask to display the equation and the R-squared value
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7
/PageLayout/PageSetup/…
Print Dialog Box
• In addition to specifying printer, page
range and number of copies, we also can
tell Excel to:
– print only an already-selected range
of cells.
– print the active sheet (default).
– print the entire workbook, that is, all
worksheets including all chart
sheets.
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7
Page Setup—Page Tab
• On the Page tab, don’t overlook:
– The Landscape orientation is
often the more useful
– specifying the desired number of
pages wide or tall. In this case,
the entry for tall is intentionally
set to blank. Excel must choose a
scaling to fit the print range into 1
page wide, but it can take as
many pages in length as required.
This allows Excel the flexibility to
make the scale as large as
possible.
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7
Page Setup—Margin Tab
• On the Margin tab, don’t
overlook:
– You can independently
choose centering for
horizontal or vertical.
– Margins can be set
visually—and generally
more easily—using the
Print Preview. Numerical
margins are more useful
only when specific edge
requirements must be used.
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7
Page Setup—Header/Footer Tab
• On the Header/Footer tab, don’t overlook:
– You can select default headers or footers, or
create custom ones.
– Custom headers/footers contain 3 zones.
– You can mix formatted type with special items:
page, total pages, date & time stamps, file name,
worksheet tab name.
– Headers & footers are helpful documentation
tools!
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7
Page Setup—Sheet Tab
• On the Sheet tab, don’t overlook:
– Indicate which rows (if any) you want
to appear at the top of every page,
and which columns should appear at
the left of every page.
– Comments can be made invisible
when printing (default), or they can
be made to appear as on screen, or
at the end of the printout.
– This is where we can control print
range, and whether we see grid lines
or column headings.
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7
Other Printing Tips
• To force a page break, position the cursor below the desired break and use /Insert/Page
Break.
• Hidden columns and rows are not printed.
• If a chart is embedded in a worksheet, it will print as part of the worksheet.
– To prevent a chart from printing as part of the worksheet, right-click the chart, select
Format Print Area/Properties, and uncheck the box marked Print Object.
– To print the chart on its own, select it first before starting to print.
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7
Page Setup—Chart Tab
• When printing a selected chart,
the fourth tab is a Chart tab.
• Better to select “Scale to fit page”
than default “Use full page”:
– This makes chart as large as
possible without changing
relative dimensions.
– Default setting fills sheet,
even if it requires distorting
proportions of chart.
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137
Illustrative Solution
for Printouts and
Other Output
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138
Illustrative Solution
for Printouts and
Other Output
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7
Many Options for Placing Excel Content in other Office applications
• Copying range of cells into Word; using /Paste Special, can paste as:
– unformatted text, the raw cell contents)
– RTF (rich text format), a nicely formatted table
– bitmap image, a static picture of the range
– embedded workbook object, a worksheet within the Word document
• Copying Excel chart into Word; using /Paste Special, can paste as:
– picture, a static image of the chart
– Excel chart object, a customizable chart within the Word document
• Also can link the Word copy to the original file, so that it updates whenever the Excel
source file is changed.
• PowerPoint options are similar.
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7
Excel 2003: Obscure (Hidden?) Feature: Copying as Image
• Sometimes we need a static image of a worksheet or chart, not actual content.
• This is especially the case for pasting into non-Office applications.
• To copy as a picture, first hold down the Shift key, then pull down the Edit menu.
– It’s a different list of choices!
– Copy Picture converts selected range/objects into a graphic.
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141
I. Getting Organized
0
1
2
II. Getting Answers & Insights
3
4
5
6
III. Getting Value
7
8
Eight Phases of Project Work
•
•
•
•
0. Sharpening the Tools
1. Planning the Work
2. Gathering Facts & Assumptions
3. Organizing the Inputs
• 4. Building the Analysis
• 5. Checking & Testing the Work
• 6. Interpreting the Results
• 7. Communicating the Ideas
• 8. Sharing & Using the Work
© 2011 Patrick S. Noonan NOT
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Select key outputs for output tab(s)
Communicate insights visually
Use good chart hygiene
Histograms
Scatter Plots & Trend Lines
Pivot Charts
Additional printing options
Exporting & integrating w/ other apps
142
8
Main Issues in Phase 8
• Creating a “turn key,” idiot-proof model
• Interacting with Excel
• Integrating the work with teams & end users
• “Keeping it right”: maintaining the integrity of the work
Excel techniques and tools for Phase 8
10
•
•
•
•
•
•
Hyper-linking for internal navigation
Protecting & hiding elements
Sharing Workbooks & Tracking Changes
Using Forms Controls for interactivity
Using Scenarios to simplify sensitivity analyses
Creating & using Templates
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143
8
Protecting your Work: Safeguarding Some or All Elements in a Workbook
• To safeguard cells or other elements, hide them… or use worksheet (or workbook) protection.
• Individual cells can be hidden/unhidden, locked/unlocked using /Home/Font [expand]/Protection.
• Protection feature also must be turned on globally using /Review/Changes/Protect Sheet, etc.
/Tools/Protection/Protect Sheet
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8
10
Facilitating Multiple, Simultaneous Users
/Tools/Share Workbook
• /Review/Changes/TrackChanges permits multiple users and tracking of all edits and changes.
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8
Shared Workbooks Display Changes
• Changed cells display a blue triangle in the upper left, and reveal change information when the
mouse is passed over them.
• Shared workbooks also display [Shared] in their title bars.
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8
Controlling the Display of Changes
• / Review/ Changes / Track Changes controls how and where changes are displayed.
• / Review / Changes / Accept or Reject Changes facilitates a targeted review and resolution of
changes (when, where, and by whom).
/Tools/Track Changes/Highlight Changes
/Tools/Track Changes/Accept or Reject…
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147
8
10
/View/Toolbar/Forms
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To explore this example, see file: Using Forms.xls
148
8
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To explore this example, see file: Using Forms.xls
149
8
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150
8
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151
I. Getting Organized
0
1
2
II. Getting Answers & Insights
3
Eight Phases of Project Work
•
•
•
•
0. Sharpening the Tools
1. Planning the Work
2. Gathering Facts & Assumptions
3. Organizing the Inputs
4
5
6
III. Getting Value
7
8
Customize your environment
Control appearance & functionality
Activate key add-in packages
Learn keyboard & editing shortcuts
• 4. Building the Analysis
• 5. Checking & Testing the Work
• 6. Interpreting the Results
• 7. Communicating the Ideas
• 8. Sharing & Using the Work
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152
I. Getting Organized
0
1
2
II. Getting Answers & Insights
3
Eight Phases of Project Work
•
•
•
•
0. Sharpening the Tools
1. Planning the Work
2. Gathering Facts & Assumptions
3. Organizing the Inputs
4
5
6
III. Getting Value
7
8
Use dynamic modeling approach
Align structure with problem modules
Use visual elements with intention
Iterate: Prototype and improve
Distinguish working file vs. master file
Document your work from the start
• 4. Building the Analysis
• 5. Checking & Testing the Work
• 6. Interpreting the Results
• 7. Communicating the Ideas
• 8. Sharing & Using the Work
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153
I. Getting Organized
0
1
2
II. Getting Answers & Insights
3
4
5
6
III. Getting Value
7
8
Eight Phases of Project Work
•
•
•
•
0. Sharpening the Tools
1. Planning the Work
2. Gathering Facts & Assumptions
3. Organizing the Inputs
• 4. Building the Analysis
• 5. Checking & Testing the Work
• 6. Interpreting the Results
• 7. Communicating the Ideas
• 8. Sharing & Using the Work
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Distinguish data and assumptions
Build area for flexible assumptions
Define clear data requests
Enter data (spreadsheet file, cut &
paste, import, query, manual)
Text file conversion wizards
AutoFill
AutoComplete
AutoCorrect
Data Forms
Data Validate
154
I. Getting Organized
0
1
2
II. Getting Answers & Insights
3
Eight Phases of Project Work
•
•
•
•
0. Sharpening the Tools
1. Planning the Work
2. Gathering Facts & Assumptions
3. Organizing the Inputs
• 4. Building the Analysis
• 5. Checking & Testing the Work
• 6. Interpreting the Results
4
5
6
III. Getting Value
7
8
Organize text using text formulas
Data Sort, possibly using Custom Lists
AutoFilter
Lists give quick access to Sort, Filter
Named Ranges
Using dates & times
Combine & Consolidate data sets
Clean & verify data (detective work)
Summarize using statistical formulas
Paste Special/Values
• 7. Communicating the Ideas
• 8. Sharing & Using the Work
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155
I. Getting Organized
0
1
2
II. Getting Answers & Insights
3
4
5
6
III. Getting Value
7
8
Eight Phases of Project Work
•
•
•
•
0. Sharpening the Tools
1. Planning the Work
2. Gathering Facts & Assumptions
3. Organizing the Inputs
• 4. Building the Analysis
• 5. Checking & Testing the Work
• 6. Interpreting the Results
Remember the order of operations
Exploit relative/absolute references
SUMPRODUCT
IFs, nested IFs, and VLOOKUPs
Logical expressions & formulas
Other families of formulas
• 7. Communicating the Ideas
• 8. Sharing & Using the Work
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156
I. Getting Organized
0
1
2
II. Getting Answers & Insights
3
4
5
6
III. Getting Value
7
8
Eight Phases of Project Work
•
•
•
•
0. Sharpening the Tools
1. Planning the Work
2. Gathering Facts & Assumptions
3. Organizing the Inputs
• 4. Building the Analysis
• 5. Checking & Testing the Work
• 6. Interpreting the Results
• 7. Communicating the Ideas
• 8. Sharing & Using the Work
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Test the logic & integrity of the work
Manual sensitivity analysis
Automated SA using Data Tables
Conditional Formatting
Auditing formulas
GoTo Special
Watch Window
157
I. Getting Organized
0
1
2
II. Getting Answers & Insights
3
4
5
6
III. Getting Value
7
8
Eight Phases of Project Work
•
•
•
•
0. Sharpening the Tools
1. Planning the Work
2. Gathering Facts & Assumptions
3. Organizing the Inputs
• 4. Building the Analysis
• 5. Checking & Testing the Work
• 6. Interpreting the Results
Pivot Tables and Database formulas
Goal Seek
Specialized analyses (ToolPak, etc.)
• 7. Communicating the Ideas
• 8. Sharing & Using the Work
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158
I. Getting Organized
0
1
2
II. Getting Answers & Insights
3
4
5
6
III. Getting Value
7
8
Eight Phases of Project Work
•
•
•
•
0. Sharpening the Tools
1. Planning the Work
2. Gathering Facts & Assumptions
3. Organizing the Inputs
• 4. Building the Analysis
• 5. Checking & Testing the Work
• 6. Interpreting the Results
• 7. Communicating the Ideas
• 8. Sharing & Using the Work
© 2011 Patrick S. Noonan NOT
FOR FURTHER DISTRIBUTION
Select key outputs for output tab(s)
Communicate insights visually
Use good chart hygiene
Histograms
Scatter Plots & Trend Lines
Pivot Charts
Additional printing options
Exporting & integrating w/ other apps
159
I. Getting Organized
0
1
2
II. Getting Answers & Insights
3
4
5
6
III. Getting Value
7
8
Eight Phases of Project Work
•
•
•
•
0. Sharpening the Tools
1. Planning the Work
2. Gathering Facts & Assumptions
3. Organizing the Inputs
• 4. Building the Analysis
• 5. Checking & Testing the Work
• 6. Interpreting the Results
• 7. Communicating the Ideas
• 8. Sharing & Using the Work
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“Idiot-proofing” & “turn-keying”
Protecting and hiding elements
Sharing Workbooks, Tracking Changes
Forms Controls for interactivity
Scenarios for simple sensitivity
Creating & using Templates
160
10 Basic Concepts & Skills
1.
2.
3.
4.
5.
6.
7.
8.
9.
10.
…plus… 10 “Next Step” Tools
Dynamic modeling
vs. “hard coded” formulas
Relative & absolute cell references
Documenting & discussing
via cell comments
Activating & managing Add-ins
AutoFill
Data Sort
SUMPRODUCT
Auditing
Histograms
Scatter plots & trend lines
10
© 2011 Patrick S. Noonan NOT
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1.
2.
3.
4.
5.
6.
7.
8.
9.
10.
AutoFilter
Text formulas
Data Tables
Conditional Formatting
VLOOKUP
Custom Lists
Goal Seek
Pivot Tables
Database statistical formulas
Forms Controls
+10
161

Feedback on this pilot session is most welcome – it will help us adapt the
materials to target the specific needs & capabilities of new B-school students.
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162
Appendix
“Getting Ready & Getting Around” – Operating System & Microsoft Office
• Print and review the pages in Appendix 1.
• Make sure you know the names of the major features of your Excel
environment (either 2010 or 2007 or 2003 or Mac OS).
• Review the fundamental techniques for navigation and editing, both
for Microsoft Office in general, and Excel in particular.
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163
QAT
(Quick Access Toolbar)
Office
Button
(OB)
Title Bar
Ribbon
(showing
Home tab &
its groups)
This is the Formula Bar
Name Box
Select All Cells
Active Cell
Column Headings
Scrollbars
(horizontal & vertical)
Row Headings
Tab Scroll Buttons & Worksheet Tabs
Zoom control
Insert Worksheet
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This is the Status Bar
164
File menu replaces
Office Button
(OB)
QAT
(Quick Access Toolbar)
Title Bar
Ribbon
(showing
Home tab &
its groups)
This is the Formula Bar
Name Box
Select All Cells
Active Cell
Column Headings
Scrollbars
(horizontal & vertical)
Row Headings
Tab Scroll Buttons & Worksheet Tabs
Zoom control
Insert Worksheet
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This is the Status Bar
165
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166
“+” sign means:
•hold down 1st key
(such as Shift, Ctrl,
Alt), while…
•pressing the 2nd
Here we would hold
down the Ctrl
(“control”) key and
press the letter X.
“/” indicates menu items:
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Here, we would select the Home menu tab,
then the Clipboard group on that tab,
and then the Cut item within that group
167
“Getting Ready & Getting Around” – Operating System & Microsoft Office
•
•
•
•
•
•
Basic operation of your Windows operating system
Basic operation of the main components of the Office suite (Excel, Word & PowerPoint)
Using the mouse (left-click, right-click, double-click, drag)
Reminder:
Using Alt+Tab to switch quickly between open windows
Here’s where to find
these in Office 2003
Finding Help using the “function key” F1 (or Help menu)
Standard file management steps
/File/New
• Creating a new file (Ctrl+N or /OB/New)
/File/Open
• Opening an existing file (Ctrl+O or /OB/Open)
/File/Save
• Saving a file (Ctrl+S or /OB/Save; sometimes as /OB/SaveAs)
• Standard editing steps
/Edit/Cut
• Cutting (Ctrl+X or /Home/Clipboard/Cut)
• Copying (Ctrl+C or /Home/Clipboard/Copy)
/Edit/Copy
• Pasting (Ctrl+V or /Home/Clipboard/Paste)
/Edit/Paste
• Using the Alt key to access toolbar shortcuts (e.g. Alt+F accesses the File menu)
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“Getting Ready & Getting Around” – Excel-specific
/Edit/Undo
• More editing steps
/Edit/Redo
– Undo (Ctrl+Z)
– Redo or Repeat (Ctrl+Y)
/Edit/Find
– Find (Ctrl+F) and Replace (Ctrl+H)
/Edit/Replace
• Selecting cells
• singly: click with mouse
• ranges: drag mouse; or click at opposite corner while holding Shift
• disconnected cells or ranges: click or drag repeatedly while holding Ctrl
• Moving to desired cells
/Edit/GoTo
– GoTo (Ctrl+G, or F5)
– Arrow keys, PgDn and PgUp
– Various “express” combinations using Shift, Tab, End, Home
• Locking-in header rows & columns using /View/Window/FreezePanes
• Creating and using multiple worksheet tabs within a file
/Window/FreezePanes
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In Your Excel Work, the
Numbers - and Your Formula
Syntax - May Look Different!
• In this deck, numbers will use
– period ( . ) as the decimal
– comma ( , ) as the separator
• Formulas will use
– colon ( : ) for ranges
– comma ( , ) as the separator
• If your Windows is configured to a
different national or language
standard, you may need to convert
these to your own local conventions
when you try to apply our examples
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Appendix
Customizing Your Excel Environment for B-School & Project Work
• Print and review the pages in Appendix 2.
• Familiarize yourself with some of the most important customization
options listed in the pages relating to your Excel environment
(2010 or 2007 or 2003 or Mac OS).
• You may want to adjust your settings to match what is depicted here.
• You definitely should activate the Add-Ins.
• Following section is organized as:
• a few instructions for all Windows versions of Excel
• additional, specific instructions organized by…
• Office 2010
• Office 2007
• Office 2003
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Introduction
10
The Solver and Analysis ToolPak add-ins are part of a standard Excel installation.
◦ You probably have these add-ins installed… but not “turned on.” Look at the /Data/Analysis
menu group. If Data Analysis or Solver do not appear, you must modify your Excel installation
to activate these standard Add-ins.
/Tools/DataAnalysis or /Tools/Solver
◦ Activating an add-in is a one-time procedure! Once you do this, they are activated and will
automatically load every time to launch Excel.

The Analysis ToolPak add-ins contain many helpful tools, of three general types:
◦ functions for use in cell formulas
◦ procedures (think: macros) that run a variety of statistical analyses
◦ VBA objects for advanced programming
◦ Note: If you use any of the special ToolPak functions in your formulas, non-Toolpak users who open that
spreadsheet will see this error message in those cells: #NAME?

Solver is an advanced tool used in optimization analysis, e.g. automatically having
Excel find the values to enter into decision cells (say, price or production quantity) that
would maximize or minimize the value of an objective cell (say, profit or cost).
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Introduction
/Tools/Add-Ins
Controlling your Add-In applications
• Select /OB/Excel Options
/Add-Ins.
• Then select Excel Add-ins in
the Manage pull-down menu.
• Check the two entries for
Analysis ToolPak, as well as the
Solver entry, in the resulting
Dialog Box.
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Appendix
Specifying which features are visible
• In the Excel 2007 /View/ShowHide
menu group (/View/Show in Excel
2010), make sure the following are
checked:
– Formula Bar
– Headings
– Gridlines
• Or, in Excel 2003, use /View and /View/Toolbars,
make sure that the following are checked:
– Formula Bar
– Status Bar
– Standard
– Formatting
– Drawing
/View/Toolbars
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Controlling Miscellaneous Features
*Excel 2007 & 2003 users:
Skip ahead to specialized
pages for your versions
• Select /File/Options /General.
• Select all the offered options by
checking these boxes.
• Select a Color Scheme and Font that
suits your professional style!
• Showing “feature descriptions”
provides automatic reminders and
descriptions about the meaning of
toolbar icons - just let the pointer
linger over one [see inset below].
• Tell Excel your name, so it can keep
track of who is creating and editing
items.
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Introduction
Controlling your Formula Defaults
• Select /File/Options
/Formulas.
• Specify Automatic
calculation, and almost all of
the formula and errorchecking options.
• Do not check the box for
R1C1 reference style!
• This is a relic from the early
days of spreadsheets that
would make column
headings appear as numbers
(1-2-3-…) instead of the
standard letters (A-B-C-…).
• Cell references would be
more complicated: Instead
of simply referring to, say,
“G4,” we would have to
refer to cell “R4C7.”
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Introduction
Controlling your Text Defaults
• Select /File/Options
/Proofing.
• These check-box options
control when all of the
Office applications “jump in”
to detect errors in text that
you type.
• You may choose later to
adjust Excel’s level of
intervention, depending on
the kinds of text words that
you tend to use.
• For example, if you use
uppercase for regular words
and sentences, you may not
want Excel to ignore
uppercase words.
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Introduction
Controlling your AutoCorrect Defaults
• Select /File/Options
/Proofing.
• Click the button for
AutoCorrect Options.
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178
Introduction
Controlling your File Defaults
• Select /File/Options /Save.
• Enable AutoRecover, so that
Excel automatically keeps a
copy of your updates every
10 minutes.
• Indicate a default location
for saving files, in case you
do not wish to specify a
special location for a new
file.
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Introduction
Controlling your “Advanced” Defaults
• Select /File/Options /Advanced.
• These are not really “advanced” at all – they
include many very common and useful
operations and settings!
• Control how Excel operates when you are
entering and editing cells.
• Control how Excel marks decimal points and
separators in numbers.
• Control what Excel displays in and around the
Excel window. For example, selecting “Show
all windows in the Taskbar” makes it easier to
move from one open Excel file to another
using the Windows taskbar, usually at the
bottom of your display.
• Showing Comments automatically [just below
bottom of screen shot] displays any working
notes that are added to the worksheet.
(These can be hidden later.)
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Introduction
Making the Developer Tab Visible
• Select /File/Options
/Customize Ribbon
• Here is where you can
managed which tabs appear in
the ribbon.
• To get access to advanced
spreadsheet features, we
check the box to activate the
Developer tab.
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Introduction
Controlling your Quick Access Toolbar
• Select /File/Options
/QuickAccessToolbar.
• Here is where you can
managed the items that will
appear in the QAT, the Quick
Access Toolbar, which appears
in the Title Bar to the right of
the Office Button.
• You will learn which menu
items you use often and would
like to access quickly – you
might want to start with the
set indicated here.
• Note that some Excel
operations are not even
available on through the
Ribbon menus, and must be
used via the QAT!
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*Excel 2003 users: Skip ahead
to specialized pages for 2003.
Controlling Miscellaneous Features
• Select /OB/Excel Options /Popular.
• Select all the offered options by
checking these boxes.
• Select a Color Scheme and Font that
suits your professional style!
• Showing feature descriptions
provides automatic reminders and
descriptions about the meaning of
toolbar icons - just let the pointer
linger over one [see inset box].
• Tell Excel your name, so it can keep
track of who is creating and editing
items.
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183
Introduction
Controlling your Formula Defaults
• Select /OB/Excel Options
/Formulas.
• Specify Automatic
calculation, and almost all of
the formula and errorchecking options.
• Do not check the box for
R1C1 reference style!
• This is a relic from the early
days of spreadsheets that
would make column
headings appear as numbers
(1-2-3-…) instead of the
standard letters (A-B-C-…).
• Cell references would be
more complicated: Instead
of simply referring to, say,
“G4,” we would have to
refer to cell “R4C7.”
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/Tools/Options, then select the General tab
184
Introduction
Controlling your Text Defaults
• Select /OB/Excel Options
/Proofing.
• These check-box options
control when all of the
Office applications “jump in”
to detect errors in text that
you type.
• You may choose later to
adjust Excel’s level of
intervention, depending on
the kinds of text words that
you tend to use.
• For example, if you use
uppercase for regular words
and sentences, you may not
want Excel to ignore
uppercase words.
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Introduction
Controlling your AutoCorrect Defaults
• Select /OB/Excel Options
/Proofing.
• Click the button for
AutoCorrect Options.
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186
Introduction
Controlling your File Defaults
• Select /OB/Excel Options
/Save.
• Enable AutoRecover, so that
Excel automatically keeps a
copy of your updates every
10 minutes.
• Indicate a default location
for saving files, in case you
do not wish to specify a
special location for a new
file.
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Introduction
Controlling your “Advanced” Defaults
• Select /OB/Excel Options /Advanced.
• These are not really “advanced” at all – they include
many very common and useful operations and
settings! (Maybe someone at Microsoft got lazy, late
in the process of updating Excel to 2007, and dumped
all these into a single category???)
• Control how Excel operates when you are entering
and editing cells.
• Control how Excel marks decimal points and
separators in numbers.
• Control what Excel displays in and around the Excel
window. For example, selecting “Show all windows in
the Taskbar” makes it easier to move from one open
Excel file to another using the Windows taskbar,
usually at the bottom of your display.
• Showing Comments automatically displays any
working notes that are added to the worksheet.
(These can be hidden later.)
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Introduction
Controlling your Quick Access Toolbar
• Select /OB/Excel Options
/Customize.
• Here is where you can
managed the items that will
appear in the QAT, the Quick
Access Toolbar, which appears
in the Title Bar to the right of
the Office Button.
• You will learn which menu
items you use often and would
like to access quickly – you
might want to start with the
set indicated here.
• Note that some Excel
operations are not even
available on through the
Ribbon menus, and must be
used via the QAT!
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Appendix
Enhancing Toolbar Appearance
• Select /Tools/Customize, then select the Options tab
in the resulting Dialog Box.
• Setting the Standard and Formatting toolbars to
appear in the same row (space permitting) can free up
more screen area for the worksheet itself; uncheck
this box.
• Always showing full menus will make it easier to find
the toolbar item you need.
• Showing ScreenTips on toolbars provides automatic
reminders about the meaning of toolbar icons - just
let the pointer linger over one. For example:
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Appendix
Creating a Common Look
• Select /Tools/Options, then select the General tab
in the resulting Dialog Box.
• Do not check the box for R1C1 reference style! This
is a relic from the early days of spreadsheets. It
would make the column headings appear as
numbers (1-2-3-…) instead of the standard letters
(A-B-C-…). Therefore, cell references would become
more complicated; instead of simply referring to
cell, say, “G4,” we would have to refer to cell
“R4C7.”
• Use any professional looking font & size you like.
However, for a display that most closely matches
the materials, specify Arial 10 (Excel 2003) or
Calibri 11 (Excel 2007).
• Tell Excel your name, so it can keep track of who is
creating and editing items.
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Appendix
Increasing Editing Flexibility
• Select Tools/Options, then select the Edit tab in the
resulting Dialog Box.
• The primary Edit settings (directly in cell, drag-anddrop) provide some fast ways to make changes in cell
content.
• Enabling automatic percent entry lets us type “20.5”
into a cell that has been given Percentage format, and
have Excel automatically recognize it as the number
20.5%, or 0.205
• When AutoComplete is enabled, Excel automatically
looks for other cell values that begin the same way as
a cell being typed, and offers to complete the cell. This
speeds up typing (and can reduce typing errors) when
some text cells (labels, for example) appear more than
once in a worksheet.
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Appendix
Setting Other Appearance Options
• Select /Tools/Options, then select the View tab in the
resulting Dialog Box.
• Selecting Windows in Taskbar makes it easier to move
from one open Excel file to another using the
Windows taskbar, usually at the bottom of a display
(example below).
• Showing Comments automatically displays any
working notes that are added to the worksheet.
(These can be hidden later.)
• The remaining Window Options complete our
standard environment. (Later we will turn off some of
these features; some types of work benefits from a
cleaner display.)
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Appendix
Ensuring Automatic Calculation
• Select /Tools/Options, then select the Calculation
tab in the resulting Dialog Box.
• Automatic Calculation means all formulas are
automatically recalculated every time the
worksheet is changed in any way. (It also
recalculates when you save the file.)
• This ensures that anyone who looks at the display
is seeing an accurate, up-to-date representation
of the underlying model.
• Only for special, advanced situations does it
make sense to turn off automatic calculation and
require manual calculation for a given file.
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Appendix
Making Keyboard Shortcuts Visible
• Underlined letters in Title Bar items allow quick menu
selections, using the Alt key.
• If they are not visible, use the Start button to adjust
Control Panel/Display/Appearance/Effects. Uncheck
the “Hide underlined letters” box, as shown here.
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What Else Can Excel Do?
Where Can I Go for More Information?
• Reference books by John Walkenbach [Excel 2003 still available; Excel 2010 versions now out]
– Excel 2007 Bible
– Favorite Excel Tips & Tricks
– Excel 2007 Formulas
– Excel Charts
– Excel Power Programming with VBA
• “For Dummies” series
– Excel 2007 [etc.] for Dummies
– Excel Charts for Dummies
– Excel Formulas & Functions for Dummies
– Excel Data Analysis for Dummies
– Excel VBA Programming for Dummies
• Other recommended titles
– Excel Hacks: 100 Industrial-Strength Tips & Tools
– Excel Best Practices for Business
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A sampler of web sites containing Excel resources, tips & examples









John Walkenbach’s The Spreadsheet Page http://spreadsheetpage.com/
Allen Wyatt’s Excel Tips http://excel.tips.net/
Daily Dose of Excel http://www.dicks-blog.com/
Bill Jene’s Ask Mr. Excel http://mrexcel.com/
Excel Hacks – Examples
http://www.ozgrid.com/BookExamples/excel-hack-examples.htm
Joseph Rubin’s ExcelTip.com http://www.exceltip.com/
David McRitchie My Excel Pages http://www.mvps.org/dmcritchie/excel/excel.htm
Jon Peltier Technical Services http://www.peltiertech.com/
Chip Pearson Software Consulting http://cpearson.com/excel.htm
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Edward Tufte on Graphical Excellence
• books
– The Visual Display of Quantitative Information (1983; 2nd edition, 2001)
– Envisioning Information (1990)
– Visual Explanations (1997)
– Beautiful Evidence (2006)
• essay
– The Cognitive Style of PowerPoint (2006)
• web site
– http://www.edwardtufte.com/tufte/index
Coming later 2011!
• The B-School Bookshelf series: “The Excel Project Companion”
by Patrick S. Noonan, Kevin Collins & Daniel Valente
• “Decision & Information Analysis,” by Patrick S. Noonan
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