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Matthew Turner
Unit 42 Assignment 1
22.09.2014
Task 1 Your line manager has asked you to write a report explaining how spreadsheets can be used to solve complex problems.
(P1)
There are many different things that can be done with spreadsheets especially when it comes to solving complex problems, and are fairly easy to use for a person who doesn’t have much experience.There are endless amounts of functions and formulae that can be used for math and trig, financial, engineering and lots more, these functions include finding the average of a set of data, adding, subtraction, mode, percentage percentage and more. You can also customize the data that you input by changing the font size and colour to make certain information stand out if it’s important. You can input this data in the form of a chart to make important data easier to see as a visual aid. You can use spreadsheets to find trends and then possibly use this information to make forecasts. Types of professions that could use spreadsheets
Accountants - keep track of money, calculate profits, predict performance of business, and calculate staff wages.
Schools/college - keep track of grades and take register
Scientists - record experiment results, analyze results, and make predictions.
Engineers- solving complex calculations
Furthermore discuss how organizations can use interpretation methods to analyze data. (D1)
Organisations use interpretation methods such as data mining to analyse data. Data mining is when you receive data from other people, to analyse patterns and trends. For example, you can see what product is popular as you can check how many times the product is being sold. There are other ways originations can use interpretation methods to analyze data, these methods are used so the organisations know know where they stand in terms of staff attendance, payroll and knowing where they stand in competition against other organisations. When the data is present there are two primary methods used for analyzing the data.
Matthew Turner
Unit 42 Assignment 1
22.09.2014
1. Trend analysis
Trend analysis is usually used to display trends in data over a period to time to try and predict future sales etc... It is usually displayed in the form of a chart because the variables don’t change instantly, so
putting the data in a chart makes it easier to recognize a trend. 2. Comparison of totals
When you have a set of data you can use functions to compare the totals. These include using the SUM function to add all the data in a row o r Colum, the MAX and MIN function to then find out the range and the SUMIF function which will only add the values which have to be added based on your criteria. Spreadsheet models are usually based on real life situations, so they can be used in many different ways and get many results these can include: Cash Flow Forecasting
Can be used to try and figure out what might happen in the future, this can only happen if you have enough reliable information and the tools to help you process this data. You have to have formulae that could work and help you and then you can use it to calculate the values for future preferences. As time then goes on you can check the accuracy of your forecast. Comparison tools are used to make calculations to solve this problem. Cash flow forecasting is important for organisations to help them to see if they have enough resources to survive that year. What-IF-Scenarios
A what if function can be used to try and see what may happen if you change one value to see what might happen to another one in your spreadsheet. There are three types of what if scenarios that come with excel these are scenarios, data tales and goal seek. Scenarios and data tables use sets of input values and work out possible outcomes. Sales Forecasting
Sales forecasting is a very useful tool for any organisation. It can keep the sales employees motivated and wanting to achieve more sales if they gain commission, and the management team need to know that they can pay all employees their salary.
