In the fifth Data Analytics Series BIGcast, Sorting Socks: A Data Automation Conversation with Graham Goble, John Best speaks with Graham Goble of BankBI about financial performance management, reporting, and business intelligence.
The Excel Curse
One primary point of discussion during the podcast is about the use of spreadsheets in comparison to data automation. “The Excel Curse” is certainly not unique to credit unions, but it is absolutely a problem across the industry that requires action. Excel is a powerful tool and serves a number of purposes very well, but advanced analytics for financial institutions is not one of them. Even for a spreadsheet guru, there a several fatal flaws in using such a software as a primary reporting tool in credit unions: