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67-476: The FMWC held its first competition in September 2020 and currently hosts three competitions: FMWC is an annual Excel modeling competition. During the course of a season (January through November), competitors complete eight stages, and are allotted two hours over a 48-hour window to complete each stage. Each stage contains three case studies , one to five pages long, with multiple choice or fill-in questions at

134-459: A Microsoft account to open them in a browser . In addition to issues with spreadsheets in general, other problems specific to Excel include numeric precision, misleading statistics functions, mod function errors, date limitations and more. Despite the use of 15-figure precision, Excel can display many more figures (up to thirty) upon user request. But the displayed figures are not those actually used in its computations, and so, for example,

201-520: A Qualification Round, with the top 128 qualifiers advancing to a single elimination tournament . In total 377 people took part and 128 qualified for the final round. The best ranked participants of the FMWC ranking, were prequalified. The MEWC continued in 2023 with a modified format, the Qualification round was split into nine events, called "Road to Las Vegas" and one Qualification Round. However

268-433: A Windows application to control another to enable it to format or calculate data. This may take on the form of "embedding" where an application uses another to handle a task that it is more suited to, for example a PowerPoint presentation may be embedded in an Excel spreadsheet or vice versa. Excel users can access external data sources via Microsoft Office features such as (for example) .odc connections built with

335-404: A date and time are the (real) number of days after December 30, 1899, 0:00, a non-negative number less than 60 is the number of days after December 31, 1899, 0:00, and numbers with whole part 60 represent the fictional day. Excel supports dates with years in the range 1900–9999, except that December 31, 1899, can be entered as 0 and is displayed as 0-jan-1900. Pivot table A pivot table

402-462: A document can be removed instantly regardless of the Microsoft Excel version used to create the document. These types of passwords are used primarily for shared work on a document. Such password-protected documents are not encrypted , and data sources from a set password are saved in a document's header . Password to protect workbook is an exception – when it is set, a document is encrypted with

469-511: A formula counting dates between (for example) February 1, 1900 and March 1, 1900 will return an incorrect result. The bug originated from Lotus 1-2-3 , where it was deliberately implemented to save computer memory, and was also intentionally implemented in Excel for the purpose of bug compatibility . This legacy has later been carried over into Office Open XML file format. Thus a (not necessarily whole) number greater than or equal to 61 interpreted as

536-488: A grid of cells arranged in numbered rows and letter-named columns to organize data manipulations like arithmetic operations. It has a battery of supplied functions to answer statistical, engineering, and financial needs. In addition, it can display data as line graphs, histograms and charts, and with a very limited three-dimensional graphical display. It allows sectioning of data to view its dependencies on various factors for different perspectives (using pivot tables and

603-580: A limitation in the size of their data sets of 16K (2 = 16 384 ) rows. Versions 8.0 through 11.0 could handle 64K (2 = 65 536 ) rows and 256 columns (2 as label 'IV'). Version 12.0 onwards, including the current Version 16.x, can handle over 1M (2 = 1 048 576 ) rows, and 16 384 (2 , labeled as column 'XFD') columns. Up until the 2007 version, Microsoft Excel used a proprietary binary file format called Excel Binary File Format (.XLS) as its primary format. Excel 2007 uses Office Open XML as its primary file format, an XML-based format that followed after

670-422: A limited set of statistical tools. Microsoft has announced that some of these issues are addressed in Excel 2010. Excel has issues with modulo operations . In the case of excessively large results, Excel will return the error warning #NUM! instead of an answer. Excel includes February 29, 1900, incorrectly treating 1900 as a leap year , even though e.g. 2100 is correctly treated as a non-leap year. Thus,

737-671: A macro language whose statements had formula syntax and resided in the cells of special-purpose macro sheets (stored with file extension .XLM in Windows.) XLM was the default macro language for Excel through Excel 4.0. Beginning with version 5.0 Excel recorded macros in VBA by default but with version 5.0 XLM recording was still allowed as an option. After version 5.0 that option was discontinued. All versions of Excel, including Excel 2021, are capable of running an XLM macro, though Microsoft discourages their use. In 2023 Microsoft announced Excel would support

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804-461: A non-collapsible Ribbon interface). In April 2009, Microsoft released Excel Viewer 2007 Service Pack 2 (SP2). In October 2011, Microsoft released Excel Viewer 2007 Service Pack 3 (SP3). Microsoft advises to view and print Excel files for free to use the Excel Mobile application for Windows 10 and for Windows 7 and Windows 8 to upload the file to OneDrive and use Excel for the web with

871-411: A previous XML -based format called "XML Spreadsheet" ("XMLSS"), first introduced in Excel 2002. Although supporting and encouraging the use of new XML-based formats as replacements, Excel 2007 remained backwards-compatible with the traditional, binary formats. In addition, most versions of Microsoft Excel can read CSV , DBF , SYLK , DIF , and other legacy formats. Support for some older file formats

938-464: A rate of hundreds of thousands of passwords a second, which not only lets them decrypt a document but also find the original password. In Excel 2003/XP the encryption is slightly better – a user can choose any encryption algorithm that is available in the system (see Cryptographic Service Provider ). Due to the CSP, an Excel file cannot be decrypted, and thus the password to open cannot be removed, though

1005-520: A timely release would allow porting the VBA engine natively to Mac OS X . VBA was restored in the next version, Mac Excel 2011, although the build lacks support for ActiveX objects, impacting some high level developer tools. A common and easy way to generate VBA code is by using the Macro Recorder. The Macro Recorder records actions of the user and generates VBA code in the form of a macro. These actions can then be repeated automatically by running

1072-471: A variety of applications and environments other than Microsoft Excel. These include opening Excel documents on the web using either ActiveX controls, or plugins like the Adobe Flash Player . The Apache POI open-source project provides Java libraries for reading and writing Excel spreadsheet files. Microsoft Excel protection offers several types of passwords: All passwords except password to open

1139-539: A variety of interactive features allowing user interfaces that can completely hide the spreadsheet from the user, so the spreadsheet presents itself as a so-called application , or decision support system (DSS), via a custom-designed user interface, for example, a stock analyzer, or in general, as a design tool that asks the user questions and provides answers and reports. In a more elaborate realization, an Excel application can automatically poll external databases and measuring instruments using an update schedule, analyze

1206-502: A workbook. In 2015, Excel Mobile became available for Windows 10 and Windows 10 Mobile on Windows Store . Excel for the web is a free lightweight version of Microsoft Excel available as part of Office on the web, which also includes web versions of Microsoft Word and Microsoft PowerPoint. Excel for the web can display most of the features available in the desktop versions of Excel, although it may not be able to insert or edit them. Certain data connections are not accessible on Excel for

1273-454: Is a spreadsheet editor developed by Microsoft for Windows , macOS , Android , iOS and iPadOS . It features calculation or computation capabilities, graphing tools, pivot tables , and a macro programming language called Visual Basic for Applications (VBA). Excel forms part of the Microsoft 365 suite of software. Microsoft Excel has the basic features of all spreadsheets, using

1340-494: Is a table of values which are aggregations of groups of individual values from a more extensive table (such as from a database , spreadsheet , or business intelligence program ) within one or more discrete categories. The aggregations or summaries of the groups of the individual terms might include sums, averages, counts, or other statistics. A pivot table is the outcome of the statistical processing of tabularized raw data and can be used for decision-making. Although pivot table

1407-423: Is a common method to send data between applications running on Windows, with official MS publications referring to it as "the protocol from hell". As the name suggests, it allows applications to supply data to others for calculation and display. It is very common in financial markets, being used to connect to important financial data services such as Bloomberg and Reuters . OLE Object Linking and Embedding allows

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1474-650: Is a generic term, Microsoft held a trademark on the term in the United States from 1994 to 2020. In their book Pivot Table Data Crunching , Bill Jelen and Mike Alexander refer to Pito Salas as the "father of pivot tables". While working on a concept for a new program that would eventually become Lotus Improv , Salas noted that spreadsheets have patterns of data. A tool that could help the user recognize these patterns would help to build advanced data models quickly. With Improv, users could define and store sets of categories, then change views by dragging category names with

1541-403: Is chosen from this drop-down list ("Black" in this example), then the table that would be visible will contain only the data from those rows that have the "Color of Item= Black". Column labels are used to apply a filter to one or more columns that have to be shown in the pivot table. For instance if the "Salesperson" field is dragged to this area, then the table constructed will have values from

1608-509: Is on average better than one would expect from simple fifteen digit precision, but that can be worse. See the main article for details. Besides accuracy in user computations, the question of accuracy in Excel-provided functions may be raised. Particularly in the arena of statistical functions, Excel has been criticized for sacrificing accuracy for speed of calculation. As many calculations in Excel are executed using VBA, an additional issue

1675-413: Is the accuracy of VBA, which varies with variable type and user-requested precision. The accuracy and convenience of statistical tools in Excel has been criticized, as mishandling situations when data is missing, as returning incorrect values due to inept handling of round-off and large numbers, as only selectively updating calculations on a spreadsheet when some cell values are changed, and as having

1742-597: The Python programming language directly. As of January 2024, Python in Excel is available in the Microsoft 365 Insider Program. Excel supports charts , graphs , or histograms generated from specified groups of cells. It also supports Pivot Charts that allow for a chart to be linked directly to a Pivot table. This allows the chart to be refreshed with the Pivot Table. The generated graphic component can either be embedded within

1809-408: The scenario manager ). A PivotTable is a tool for data analysis . It does this by simplifying large data sets via PivotTable fields. It has a programming aspect, Visual Basic for Applications , allowing the user to employ a wide variety of numerical methods, for example, for solving differential equations of mathematical physics, and then reporting the results back to the spreadsheet. It also has

1876-505: The 128 final-participants will still be competing in a 1v1 grid. The final of the top 8 will be hosted in Las Vegas . In total 377 people took part and 128 qualified for the final round. The best ranked participants of the FMWC ranking, were prequalified. The 2023 edition had a different format for the last three rounds. The knockout format was used for the first four rounds. The eight participants that won their Round of 16 match qualified for

1943-794: The FMWC Open, an Excel Esports tournament. The competition was a standalone event that did not impact the Financial Modeling World Cup Rankings in regular seasons. The tournament consisted of a Qualification Round, with the top 128 qualifiers advancing to a single elimination tournament . Qualification rounds began on November 13, and continued into December. The last three rounds of the FMWC Open competition were held on December 11, 2021, and were broadcast on FMWC YouTube channel and ESPN3 . Andrew Ngai (now representing Australia), Anup Agarwal (India), and Michael Jarman (Canada) returned as quarterfinals qualifiers, and Harry Gross from

2010-539: The Insert tab and select "Pivot Table" (or "Pivot Chart"). The user then has the option of either inserting the pivot table into an existing sheet or creating a new sheet to house the pivot table. A pivot table field list is provided to the user which lists all the column headers present in the data. For instance, if a table represents sales data of a company, it might include Date of sale, Sales person, Item sold, Color of item, Units sold, Per unit price, and Total price. This makes

2077-576: The Microsoft Windows version of Improv appeared. Early in 1994 Microsoft Excel  5 brought a new functionality called a "PivotTable" to market. Microsoft further improved this feature in later versions of Excel: In 2007 Oracle Corporation made PIVOT and UNPIVOT operators available in Oracle Database 11g. For typical data entry and storage, data usually appear in flat tables, meaning that they consist of only columns and rows, as in

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2144-545: The Office Data Connection file format. Excel files themselves may be updated using a Microsoft supplied ODBC driver. Excel can accept data in real-time through several programming interfaces, which allow it to communicate with many data sources such as Bloomberg and Reuters (through addins such as Power Plus Pro ). Alternatively, Microsoft Query provides ODBC-based browsing within Microsoft Excel. Programmers have produced APIs to open Excel spreadsheets in

2211-496: The Pivot table. This table will not have any numerical values, as no numerical field is selected, but when it is selected, the values will automatically get updated in the Row of "Grand Total". This usually takes a field that has numerical values that can be used for different types of calculations. However, using text values would also not be wrong; instead of Sum, it will give a count. So, in

2278-645: The UK, Jason Moore from the US, Joseph Palisoc from the US, Sameer Jagetia from the US, and Tim Roberts from the UK also qualified. The final round, entitled "Knights and Warriors", had contestants, each representing a fictional nation, send fictional warriors to conquer each other. Ngai defeated Jarman 734–280, with a maximum of 1,000 points per side. The FMWC Open was rebranded as the Microsoft Excel World Championship (MEWC). Like its predecessor, it also consisted of

2345-453: The VBA module directly by the programmer. Advanced users can employ user prompts to create an interactive program, or react to events such as sheets being loaded or changed. Macro Recorded code may not be compatible with Excel versions. Some code that is used in Excel 2010 cannot be used in Excel 2003. Making a Macro that changes the cell colors and making changes to other aspects of cells may not be backward compatible. VBA code interacts with

2412-486: The Visual Basic Editor (VBE), which includes a window for writing code, debugging code, and code module organization environment. The user can implement numerical methods as well as automating tasks such as formatting or data organization in VBA and guide the calculation using any desired intermediate results reported back to the spreadsheet. VBA was removed from Mac Excel 2008, as the developers did not believe that

2479-473: The brute-force attack speed remains quite high. Nevertheless, the older Excel 97/2000 algorithm is set by the default. Therefore, users who do not change the default settings lack reliable protection of their documents. The situation changed fundamentally in Excel 2007 , where the modern AES algorithm with a key of 128 bits started being used for decryption, and a 50,000-fold use of the hash function SHA1 reduced

2546-412: The column "Sales Person", i.e. , one will have a number of columns equal to the number of "Salesperson". There will also be one added column of Total. In the example above, this instruction will create five columns in the table — one for each salesperson, and Grand Total. There will be a filter above the data — column labels — from which one can select or deselect a particular salesperson for

2613-408: The column "Salesperson", i.e. , one will have a number of rows equal to the number of "Sales Person". There will also be one added row of "Grand Total". In the example above, this instruction will create five rows in the table — one for each salesperson, and Grand Total. There will be a filter above the data — row labels — from which one can select or deselect a particular salesperson for

2680-565: The columns, add comments, and create charts. It cannot add columns or rows except at the edge of the document, rearrange columns or rows, delete rows or columns, or add spreadsheet tabs. The 2007 version has the ability to use a full-screen mode to deal with limited screen resolution, as well as split panes to view different parts of a worksheet at one time. Protection settings, zoom settings, autofilter settings, certain chart formatting, hidden sheets, and other features are not supported on Excel Mobile, and will be modified upon opening and saving

2747-537: The current sheet or added as a separate object. These displays are dynamically updated if the content of cells changes. For example, suppose that the important design requirements are displayed visually; then, in response to a user's change in trial values for parameters, the curves describing the design change shape, and their points of intersection shift, assisting the selection of the best design. Additional features are available using add-ins . Several are provided with Excel, including: Versions of Excel up to 7.0 had

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2814-531: The data more readily accessible. The fields that would be created will be visible on the right hand side of the worksheet. By default, the pivot table layout design will appear below this list. Pivot Table fields are the building blocks of pivot tables. Each of the fields from the list can be dragged on to this layout, which has four options: Some uses of pivot tables are related to the analysis of questionnaires with optional responses but some implementations of pivot tables do not allow these use cases. For example

2881-583: The decimal, the difference when 1 is subtracted from this displayed value is three 0's followed by a string of eleven 1's. However, the difference reported by Excel in the third line is three 0's followed by a string of thirteen 1's and two extra erroneous digits. This is because Excel calculates with about half a digit more than it displays. Excel works with a modified 1985 version of the IEEE 754 specification . Excel's implementation involves conversions between binary and decimal representations, leading to accuracy that

2948-462: The difference of two numbers may differ from the difference of their displayed values. Although such departures are usually beyond the 15th decimal, exceptions do occur, especially for very large or very small numbers. Serious errors can occur if decisions are made based upon automated comparisons of numbers (for example, using the Excel If function), as equality of two numbers can be unpredictable. In

3015-468: The end. Contrary to what the name suggests, not all case studies are financial modeling based; Many are business modeling or data modeling based. Stage points are available for: Each stage winner's score is normalized to 1,000 points, and the score of all other competitors are normalized accordingly. FMWC rankings and final standings are based on points scored across each competitor's top 6 stages (bottom 2 stages are dropped). The MEWC began in 2021 as

3082-544: The example above, if the "Units sold" field is dragged to this area along with the row label of "Salesperson", then the instruction will add a new column, "Sum of units sold", which will have values against each salesperson. Pivot tables or pivot functionality are an integral part of many spreadsheet applications and some database software , as well as being found in other data visualization tools and business intelligence packages. Programming languages and libraries suited to work with tabular data contain functions that allow

3149-464: The example above, the first datum is 66. This number was obtained by finding all records where both Region was East and Ship Date was 2005-01-31 , and adding the Units of that collection of records ( i.e. , cells E2 to E7) together to get a final result. Pivot tables are not created automatically. For example, in Microsoft Excel one must first select the entire data in the original table and then go to

3216-425: The example here, let us ask, "How many Units did we sell in each Region for every Ship Date? ": A pivot table usually consists of row , column and data (or fact ) fields. In this case, the column is ship date , the row is region and the data we would like to see is (sum of) units . These fields allow several kinds of aggregations , including: sum, average, standard deviation , count, etc. In this case,

3283-411: The figure, the fraction 1/9000 is displayed in Excel. Although this number has a decimal representation that is an infinite string of ones, Excel displays only the leading 15 figures. In the second line, the number one is added to the fraction, and again Excel displays only 15 figures. In the third line, one is subtracted from the sum using Excel. Because the sum in the second line has only eleven 1's after

3350-412: The following portion of a sample spreadsheet showing data on shirt types: While tables such as these can contain many data items, it can be difficult to get summarized information from them. A pivot table can help quickly summarize the data and highlight the desired information. The usage of a pivot table is extremely broad and depends on the situation. The first question to ask is, "What am I seeking?" In

3417-463: The implementation in LibreOffice Calc since 2012 is not able to process empty cells. Report filter is used to apply a filter to an entire table. For example, if the "Color of Item" field is dragged to this area, then the table constructed will have a report filter inserted above the table. This report filter will have drop-down options (Black, Red, and White in the example above). When an option

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3484-537: The in-person Finals in Las Vegas, where 8 more players would join them in a last-chance qualification round. FMWC also holds other events (typically Excel Esports battles). Some events have granted automatic qualification to the MEWC playoff rounds. Some events are livestreamed and can be viewed by the public. These events include (but are not limited to): Microsoft Excel Microsoft Excel

3551-428: The intended file extension for this format is .xml , the program also correctly handles XML files with .xls extension. This feature is widely used by third-party applications (e.g. MySQL Query Browser ) to offer "export to Excel" capabilities without implementing binary file format. The following example will be correctly opened by Excel if saved either as Book1.xml or Book1.xls : Microsoft Excel 2007, along with

3618-490: The macro. The macros can also be linked to different trigger types like keyboard shortcuts, a command button or a graphic. The actions in the macro can be executed from these trigger types or from the generic toolbar options. The VBA code of the macro can also be edited in the VBE. Certain features such as loop functions and screen prompt by their own properties, and some graphical display items, cannot be recorded but must be entered into

3685-555: The mouse. This core functionality would provide the model for pivot tables. Lotus Development released Improv in 1991 on the NeXT platform. A few months after the release of Improv, Brio Technology published a standalone Macintosh implementation, called DataPivot (with technology eventually patented in 1999). Borland purchased the DataPivot technology in 1992 and implemented it in their own spreadsheet application, Quattro Pro . In 1993

3752-455: The object "WorksheetFunction" and 44 have the same names as VBA functions. With the introduction of LAMBDA, Excel became Turing complete . The Windows version of Excel supports programming through Microsoft's Visual Basic for Applications (VBA), which is a dialect of Visual Basic . Programming with VBA allows spreadsheet manipulation that is awkward or impossible with standard spreadsheet techniques. Programmers may write code directly using

3819-531: The other products in the Microsoft Office 2007 suite, introduced new file formats. The first of these (.xlsx) is defined in the Office Open XML (OOXML) specification. Windows applications such as Microsoft Access and Microsoft Word, as well as Excel can communicate with each other and use each other's capabilities. The most common is Dynamic Data Exchange : although strongly deprecated by Microsoft, this

3886-406: The password to open is converted to a 16-bit key that can be instantly cracked. In Excel 97/2000 the password is converted to a 40-bit key, which can also be cracked very quickly using modern equipment. As regards services that use rainbow tables (e.g. Password-Find), it takes up to several seconds to remove protection. In addition, password-cracking programs can brute-force attack passwords at

3953-426: The pivot table. This table will not have any numerical values as no numerical field is selected but when it is selected, the values will automatically get updated in the column of "Grand total". Row labels are used to apply a filter to one or more rows that have to be shown in the pivot table. For instance, if the "Salesperson" field is dragged on this area then the other output table constructed will have values from

4020-456: The results, make a Word report or PowerPoint slide show, and e-mail these presentations on a regular basis to a list of participants. Microsoft allows for a number of optional command-line switches to control the manner in which Excel starts. Excel 2016 has 484 functions. Of these, 360 existed prior to Excel 2010. Microsoft classifies these functions into 14 categories. Of the 484 current functions, 386 may be called from VBA as methods of

4087-430: The speed of brute-force attacks down to hundreds of passwords per second. In Excel 2010 , the strength of the protection by the default was increased two times due to the use of a 100,000-fold SHA1 to convert a password to a key. Excel Mobile is a spreadsheet program that can edit XLSX files. It can edit and format text in cells, calculate formulas, search within the spreadsheet, sort rows and columns, freeze panes, filter

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4154-753: The spreadsheet through the Excel Object Model , a vocabulary identifying spreadsheet objects, and a set of supplied functions or methods that enable reading and writing to the spreadsheet and interaction with its users (for example, through custom toolbars or command bars and message boxes ). User-created VBA subroutines execute these actions and operate like macros generated using the macro recorder, but are more flexible and efficient. From its first version Excel supported end-user programming of macros (automation of repetitive tasks) and user-defined functions (extension of Excel's built-in function library). In early versions of Excel, these programs were written in

4221-456: The standard password "VelvetSweatshop", but since it is known to the public, it actually does not add any extra protection to the document. The only type of password that can prevent a trespasser from gaining access to a document is the password to open a document . The cryptographic strength of this kind of protection depends strongly on the Microsoft Excel version that was used to create the document. In Microsoft Excel 95 and earlier versions,

4288-424: The total number of units shipped is displayed here using a sum aggregation. Using the example above, the software will find all distinct values for Region . In this case, they are: North , South , East , West . Furthermore, it will find all distinct values for Ship date . Based on the aggregation type, sum , it will summarize the fact, the quantities of Unit , and display them in a multidimensional chart. In

4355-594: The viewer in April 2018 with the last security update released in February 2019 for Excel Viewer 2007 (SP3). The first version released by Microsoft was Excel 97 Viewer. Excel 97 Viewer was supported in Windows CE for Handheld PCs . In October 2004, Microsoft released Excel Viewer 2003. In September 2007, Microsoft released Excel Viewer 2003 Service Pack 3 (SP3). In January 2008, Microsoft released Excel Viewer 2007 (featuring

4422-415: The web, including with charts that may use these external connections. Excel for the web also cannot display legacy features, such as Excel 4.0 macros or Excel 5.0 dialog sheets. There are also small differences between how some of the Excel functions work. Microsoft Excel Viewer was a freeware program for Microsoft Windows for viewing and printing spreadsheet documents created by Excel. Microsoft retired

4489-481: Was removed in Excel 2007. The file formats were mainly from DOS-based programs. OpenOffice.org has created documentation of the Excel format. Two epochs of the format exist: the 97-2003 OLE format, and the older stream format. Microsoft has made the Excel binary format specification available to freely download. The XML Spreadsheet format introduced in Excel 2002 is a simple, XML based format missing some more advanced features like storage of VBA macros. Though

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