15. The most common mistakes people make while using excel is to write numbers within a formula. Although it may be easy to put numbers into your calculations initially, if that number changes then you are going to have a lot of work backtracking and changing formulas
16. When you have all that set up properly even the most complex spreadsheets will readjust themselves automatically to a change in any key inputs (try playing with the data and assumptions spreadsheet in the supplement to see how it works.
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19. When you need to take certain rows or columns of data or want to sort the data, you should always use links to the original data instead of manipulating the original data
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23. After you paste the links you can rearrange them however you like to
34. Now that you have the add-in you can start using data analysis in the data tab
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36. Where there is no real target (as is in the supplementary excel spreadsheet) you can either choose on of the variables as the target cell
37. It is also possible to leave the target cell blank, as long as there are enough constraints
38. The “by changing cells” specifies to solver which cells should be changed in order to meet the criteria for the target cell
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40. There are five options you can use within the constraints. The most commonly used are the first three
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42. In this case the constraints are more complicated. There are two logical statements in the question. Both require one variable to be equated to another. In this case you may be able to build the logical statement into a cell and then equate them within the constraints
43. In the above screen shot, the two parts of the logical statements were created in separate cells
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46. You can also split up work between multiple people and then recombine the work into one workbook as long as each person’s work does not depend on the other’s when they are working separately
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49. In the example above, the cell B1 has been named “WACC”. When entering a formula, by typing in WACC you can reference straight to that cell. If the cell named WACC is in another worksheet within the same workbook, you will still be able to refer to the cell by simply typing “WACC”
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51. The second way is a bit longer. You can define the name of a cell by clicking on the formula tab and choosing “define name”
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55. Using the formula auditing functions within excel it is possible to quickly either find which cells need to be checked, or trace mistakes within a spreadsheet to its root cause
57. Trace precedents will show you all the cells which the selected cell has depended on to come to the final outcome. Pressing the button again will trace the precedents of those precedent cells and so on
58. The trace dependents will show all the cells which use the selected cell in order to reach their final outcome. Pressing the button again will trace the dependents one level further and so on
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60. The below is an example of the use of the trace dependents function
63. A good layout will make your excel spreadsheets understandable and easily read. This will increase the value of your work exponentially
64. Also when doing competitions such as the UBS Investment Banking Challenge, you will have to give the judges your spreadsheet. The better it looks and the easier it is to understand the better your chances of doing well