Excel forecast models using spreadsheet files are easy to share and are easily opened and read by the majority of MS Office users. MS Excel file format interchangeability is high and widely used. It is used both for private and business purposes by small and large organizations. It has been recognized as a primary business analysis tool and for many years one of the most affordable. Most users are familiar with its interface and functionality. Today it has over 750 million users worldwide. Performance and scalability limitationsĮxcel is still in the game and is a great personal productivity tool Availability and high user adoption.Inconveniences and security issues when used in large teams.Does not have its underlying built-in database.Highly prone to human mistakes and error.Limited multi-user collaboration capabilities.Weak performance in working with online and real-time data.Data collection and preparation is time-consuming and challenging.Decent security features for personal use.A highly flexible and versatile tool in the hands of a power user.One of the best personal productivity tools on the market.Availability of the most common data analysis tools and functions.Easy to visualize and format data to improve readability.
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