Question

"While basic knowledge about spreadsheets is usually assumed in business, spreadsheet skills and spreadsheet modeling skills are not the same. Effective education in business modeling begins with training in how to use a spreadsheet to build and analyze models."

Make sure to use your own words and post a three paragraph essay. Also, make proper citation if you referenced any sources.

Answer 1

It is true that spreadsheet skills and modelling in spreadsheets are different capabilities. For example, a spreasheet skill may be to simply maintain data in the spreadsheet and update the database depending on the changing scenario.

Spreadsheet modelling on the other hand involves modelling the business inputs and outputs on a spreadsheet, understanding the impact of various inputs on the outputs and then running various sensitivities to ensure that the analysis is complete and various business scenarios can be explained.

This modelling skill involves setting up the spreadhseet and separating inputs and outputs and creating simulations to generate scenarios and understand output.