Can I automate the functions found in the 'analysis ToolPak' in Microsoft Excel?

Someone asked this question in Quora and here is my answer which I think many of you will find useful:

If you use Excel on a Mac the chances are that you are not running Excel 2016 for the Mac and that your Mac does not have the ToolPak at all … I know, older versions have it and I know you can get alternatives!

In that case, I often demonstrate to Mac users how to create and automate the functions in the ToolPak: correlation matrix, regression analysis, moving averages, descriptive statistics … the others as well!

Descriptive statistics, for example, could be, for data in column A:

=AVERAGE(A:A)

=STDEV(A:A)

=KURT(A:A) …

=SKEW(A:A)

and so on.

Other answers have mentioned statistics software packages and that’s fine except they might not be free! Yes, if you are a student, your college or university is likely to have statistics software free for you to use.

How about R and R Studio, however? Open source, free, with massive amounts of support? Of course, it takes time to learn R but here is the code for some descriptive statistics using the psych package in R:

describe(order_sales_profit$Sales)

That’s it! This is what I get from my current data set, sales values: not exactly the same as the ToolPak but my point is, it is very easy to replicate. Look at the screenshot of the output from R.



By the way, as a novice or beginner level user of Excel, there is a lot to learn from manually automating what’s in the ToolPak. Moreover, if you take my next learning point, use this opportunity to set up templates for you to analyse your data sets: that means, you automate the ToolPak elements once and that is it!

Finally, many elements of the ToolPak return non volatile results which means that if you change your data, you have to run the ToolPak again. If you automate it yourself, the formulas you create will all be volatile: change the data, change the answers!

Duncan Williamson

I like such photographs

I hope you can see this photo.

DW

Top Tips: rules you really should follow

19th August 2016

I have just completed another very successful Financial Modelling course and as you know, at the end of such courses, I come here and offer something new: a new topic, a new file or some advice. In this case, it is advice: things that you really need to think about when you create and work on any Excel file.

• Tab/Sheet Names


• Links


• Dead Cells 125,433 rows created but only 831 needed/active ... files that balloon to many Mb for no real reason

Ever seen a tab name like this: FBU or OPT? I bet you have: short and sweet and probably mnemonic so easy to read and remember. How about L_P_Obasange_receivables_dont_forget_to PRINT_it_out? You think I am joking? I am serious! Just imagine you are working on your file with the large tab name and you want to link to a cell on that tab from another one: this is what will appear in your formula, by way of an example ... =IFERROR(AND(A15=45,D26="Jack",L_P_Obasange_receivables_dont_forget_to PRINT_it_out!BA154 ...

I am sure you see the point now. Keep tab names short and simple! More than that, if you do feel the need to use tabs to give instructions, colour code them to pass such messages: there are many colours to choose from so do that. Have a table of contents too. Give everyone a chance for a simple life!

Links

If you share a file with someone, make sure any links in your file are either live or delete them. If you receive a file with links that you cannot use or update, you know how frustrating it is. Think of the user before you send linked files.

Dead Cells

It is the easiest thing in the world to create a worksheet and as you work and improve what you are doing, to delete cells and ranges. We all do that. We create new ranges too, don't we! Check your work now and again though and if these happen, take a break and check your file:

• it takes 30 seconds 45 seconds or even longer for the file to open


• what seems like a small file in terms of content and complexity has ballooned in size to 20 or 30 or more Mb


• saving the file takes an age too

If these things happen, go to a worksheet and press Ctrl+End and see where that takes you. You work only in the range A1: CD831 but Ctrl+End has taken you to CG125433 ... what? How did that happen?

Even if there are not as many as an additional 1.8 million cells but just 500,000, look in those cells for formulas  that are trying to find something from somewhere that is not there ... in some of these extra cells for example. Delete all of these extra cells. I did that this week: an extra 1.8 million cells in TWO separate worksheets complete with formulas. File size down from 28 Mb to 0.8 Mb, opening time just seconds, recalculation time hardy noticeable.

They were just some of things to report on from this week. Otherwise, this group of delegates really enjoyed the work and their end of course presentations were interesting and showed that significant learning had taken place!

Duncan Williamson

 

This Week's Delegates

Here they are, the chosen few from my course in Ghana this week.

Good delegates, successful course: financial modelling.

DO

Accra Ghana Spark Page

Just take a look at this very simple Spark Page I have just created.

<a class="asp-embed-link" href="https://spark.adobe.com/page/rdgNxpzgPBQ5R/"><img src="https://spark.adobe.com/page/rdgNxpzgPBQ5R/embed.jpg?buster=0" alt="Accra Ghana" style="width:100%" border="0" />Duncan's Accra Spark Page</a>

I hope you like it.

DW

Boeing 787 ... 3 out of 10

I don't normally talk about aeroplanes and flying but sometimes ... You have probably heard of the Boeing 787 Dreamliner and how marvellous it is. I have just flown on it for the umpteenth time and again I come away wracked! The seats are bone hard and the economy cabin is cramped: they cram us in. For anyone in the first row in any cabin in economy, they have put the TV remote at hip level within the seat AND it's non removable. That means you need to be a contortionist to use it and if you are even slightly on the large side you will not be able to see it let alone use it. I firmly believe that this aeroplane was designed and built by people who never fly in it or never fly economy in it. In my opinion, it's an insult although I know the airlines love it because it runs cheaply compared to other planes. Well, here you are Boeing: 3 out of 10. DW

In the Current Climate

As I was about to get to the passport control desk at DXB, a man in the queue behind me pointed out to one of the staff that there was an unattended bag in the middle of the floor. There was!

The staff member suggested that someone had probably left the bag there as he went round and round the queue system to save having to carry it.

The man responded with. I realise that but no one should leave their bag like that in the current climate.

The man was absolutely right but I loved his use of the phrase, in the current climate!

DW

Fungus is here

These just grew in the garden!

DW

Fascinating Story

Read this story if you can. Very interesting in every way!

The Iraqi who saved Norway from oil - http://www.ft.com/cms/s/0/99680a04-92a0-11de-b63b-00144feabdc0.html

Champion Burnley FC

Well done Burnley FC,  promoted to the Premier League for next season. A 23 game unbeaten game run in too.

Let's hear it for the team and for the manager Sean Dyche.

Of course, Burnley has never been a fashionable team so the response of the media to their achievement has been grossly understated.

How to Erect a Pillar Perfectly

They have erected the support pillars for our new venture and they are perfectly vertical.  To get them vertical they used two pieces of string, a plumb line and two bits of wood to adjust them if necessary.

Fantastic skills.

DO

The Start of a new Project

Here is the ceremony to celebrate the start of a new building and a new venture.  The ceremony went well and I hope the project does too.

DW

And She's Off!

Daughter Abi will be 10 months old tomorrow and already she is standing for a short time without holding on. She's also taking steps or trying to.

Good progress

DW

Business Intelligence

Are you interested in using BI? Do you already use it?

Did you know that BI is free to create?

I will be adding some BI resources here this week ... but there are already some here! Take a look at Power Query and Power Pivot for a start.

Back soon and if there's something you want me to write about, let me know.

Duncan Williamson

SUMDIVIDE ... sort of

A delegate asked me today if there was such a function as SUMDIVIDE. There isn't of course, but I found a way to simulate it.

What would SUMDIVIDE do? SUMDIVIDE would have array 1 divided by array 2 and the results then added together: in the same way that SUMPRODUCT multiplies and then adds.

This is how it works: imagine A1:A5 contains array 1 and B1:B5 contains array 2 then the SUMPRODUCT function to divide them will be =SUMPRODUCT(A1:A5,1/B1:B5). Simple, eh? Who'd have thought it would be so simple.

Duncan Williamson

When the TV Doesn't Work

I flew from Bangkok to Dubai last night and even though I have lost my gold status with them, I chose to fly with Emirates. As long as I can I suppose I would always choose to fly with Emirates. I can't use their lounges across the world now and I don't get welcomed onto the plane with a special greeting any more. When something goes wrong on an Emirates flight, I take it personally: I always have and I don't know why. With some service providers, if something goes wrong, I think how typical it is or that I am glad I don't use THEM all of the time. Yesterday, I settled into my seat, said hello to the couple next to me as their 13 month old daughter made herself known to everyone! I started to see what ICE had to offer. I made a few mental notes of what I might watch. Then it turned from ICE to ICE Lite ... the service you get on ICE on a rickety old crate flying to somewhere not so glamorous. Half a dozen films, almost no music, four or five TV programmes and virtually no radio programmes. That is a far cry from the thousands of normal choices. Instead of the ICE home screen I had ICE Lite with Alvin and the Chipmunks as my home screen. I looked around and it seemed to be just my TV that had gone wrong. I asked one of the cabin crew to help me to sort it out. She seemed to understand the problem, took a note of my seat number and went away. The TV stayed with Alvin. I had some things to watch on my iPad so I watched them. Then I saw another cabin crew member and asked him for his help: 2.5 hours to go to Dubai. He looked at the screen and made a call for them to do a full reset of my screen. 10 minutes, he said, is what it would take. I waited 10 minutes as I was wondering if I had time to watch my film of choice. 10 minutes came and went and the screen went black as the handset stayed ICE Lite. I decided to do some work, reading my papers for the coming week then I watched something on my phone this time and with 90 minutes to go I saw on the handset that ICE had come back. I thought at least I could listen to some of my favourite UK Number One Hits. So I opened the screen and started browsing. I found the first of the songs I wanted. Click! Waiting ... waiting ... waiting ... I chose a different song. Click! Waiting ... waiting ... waiting. I left that idea and tried to start a film and as I found the new James Bond, Spectre, Alvin and the Chipmunks came back with their ICE Lite. As far as I could tell this was only my problem. That's why I take these things personally: only me me me! So, a relatively long flight without the possibility of entertainment of any kind is a very old concept isn't it? On other airlines I have been given a DVD player to offset the loss of the TV. In this case, one cabin crew member did something and the other one MIGHT not have: what neither of them did was follow up on my problem. They both left me and didn't return. So, I felt let down by my number one choice of airline. DW

Are you Following me?

Time is just flying by and although I've got so many things to share time is against me.

In addition to this blog you might want to follow me on LinkedIn too ... I don't accept everyone there but if you tell me you subscribe to this blog I guarantee acceptance.

I am working in Dubai this week: presenting a three day course on Financial Modelling and Business Intelligence. Then a two day course on Budgeting and Cost Control.

With my courses you get a tool box of functions and techniques. You also get one to one time with me as I solve your problems ... financial modelling etc! You take away all of my notes and PowerPoint slides as well as all of my fully worked Excel files.

I use real world data in my models and demonstrations. You get full explanations from me. I am also honest: if you ask me something I will give you the right answer, even if it means I have to do further research or ask a friend!

Find out where I am working and what I am doing and who knows, you might even join me one day. Invite me to speak where you are and maybe we can get together that way.

Duncan Williamson

Let me try 23 Mbps!

See my previous story about my wifi connection.

We found out by accident that the router in the sales office of our new wifi provider pumps out 20+ Mbps speeds. I thought, I'd like to see what that's like.

I set my phone to download a 330 Mb video and stood outside the wifi provider's showroom. Nothing. It didn't start!! I waited a while then checked the speed ... very slow at about 1 Mbps.  I thought: ah! It hasn't connected properly yet. I went away for a while and then returned. The same.

Anyway, having checked download speeds again I concluded that the office had not turned on their cable router! So I was using their ordinary system from outside this building.

End of my experiment!

DW

Monopoly Broken

I have been suffering for 18 months or so from a monopolist wifi supplier. Variable connections. Breaks in connections for as long as two weeks. 18 breaks in service in a January alone. February started with the first 6 days dead.

I searched in vain for an alternative all of this time and became most frustrated and angry when I realised that these people were managing my business and private life. I need a decent connection for work and for my relaxation, entertainment and so on.

A friend told us about a router they had bought in Switzerland ... good solution but very expensive to buy. It sowed a seed, though.

Then a chance conversation sent us to a local provider of service who offered 4G pocket routers.  Really? We looked at their brochure and asked questions. While 4G doesn't reach to our village, it will soon.

I thought about it for a while: it would cost us the same as our current provider per month and the pocket router came free!

I said, I want to take the risk: there's a chance that this will be better ... we did it. We came away with the router and some hope.

We got it home and it works. At times we can get speeds of 5 to 6 Mbps. As importantly, after 5 days, service has been unbroken and because it is a pocket router, we can take it with us wherever we go.

I stopped paying for the old service immediately. They are no more.

Since I have been sending the old providers an sms whenever there has been a significant break of service, I said: they will realise something is different when they realise I have stopped texting them!! After all, we didn't tell them we were leaving since they never told us that their service had stopped. I felt no loyalty to them.

After 5 days they asked how things were going and we told them we no longer needed them. They said oh!

Incidentally I used to send tweets to the head office of our old provider: they never replied.

Another case of monopoly madness.

Reward or Retard?

I wrote a long and solidly constructed piece for this post then I lost it, in the spirit of this weekend.

Bottom line: I did a job that should have brought me £0.50 per unit. I have been paid £0.04 per unit. It's a matter of control over channels in the same way that I have no control over the awful broadband connection I suffer from here.

So, shit happens as they say :)

DW