Financial Analysis Software

Financial analysis software usually is Microsoft Excel or some other spreadsheet program. There is however other software specifically for analysis such as Hyperion that is often used to merge information from several reporting units.

The great thing about Excel is that most everyone has it on their computer and are able to look at the file you send them.
Regardless of the software used, it should provide the users with:

  • A database to store data

  • Formulas to manipulate data

  • Functions that manipulate and report data

  • Reporting features for a professional looking

A database function is necessary so that large or small amounts of data can be stored. Information can then be extracted from the database as needed. For example, if we have a list of names of people in our college English class, and next to each name the grade point each is receiving in the class, this is a simple database.

With formulas we can now easily extract information from this database. The information may be the total number of people in our class, or the average grade point.

With lookup formulas, we can extract a single piece of data from a massive database, saving the time of search for it manually.

Functions allow us to more easily manipulate data.  For example a pivot table function will allow us to summarize large amounts of data into a much smaller useful amount of data.

Finally, analysis software should have the ability to make a professional looking report.