If there is a stat for the most pervasive, used and abused analytical method I bet the linear regression would come at the top. No surprise in that - this method has same features as AK47 - simple, easy to use, reliable in most of its application, low entry level knowledge. It may not be the proper tool for some applications but still does a good job. Similarly to a weapon, it should be used with caution. Linear regression may not have the lethality of an AK47 but could cause significant damage if not used wisely.
The debates related to Obama Care together with a project related to healthcare market I took part in revealed that healthcare costs in US are extremely high compared to other developed countries. Among the blizzard of who-said-what articles and media coverage on the topic perhaps many asked themselves the question of why are the costs so high on the first place. As soon I had a couple of hours I made a quick research and here is what I found.
Sometimes I get "You did that because you know the Excel formulas". I beg to disagree. Excel formulas knowledge alone does not make a good solution in the same way as the guitar does not make Clapton or the painting techniques alone did not make Van Gogh. There is something more.
Love it or hate it but MS Excel is an organic part of the business landscape. Tons of spreadsheets cross the space from one user to another to deliver data, information, dashboards and everything else that might come to mind. Excel is convenient, available, affordable and versatile. However, mindlessly sticking to it does not always pays back and hampers operations, information flow and decision making not to mention the timeliness and accuracy of data.
One of the challenges with dashboards and reporting in Excel is the formatting of its components. Combining charts, tables and text of various size requires fine tuning of row heights, column widths, fonts and alignment of multiple objects. Often this is difficult and painstaking process that need to be redone every time a new requirement comes in and a piece of the dashboard needs to be added, removed or reformatted. A cure for saving a good portion of it comes with the use of linked picture feature in Excel.