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Survey Highlights 'Spreadsheet Risk'

Neil Baker | June 6, 2011

Over half of all UK corporate spreadsheet users have never received any formal training in the software and nearly three quarters (72%) say no internal department checks the accuracy of their spreadsheets, according to a new survey.

ClusterSeven, the data management company behind the study, said companies were putting undue trust in the integrity of the analysis captured in their spreadsheets.

“Organizations are systemically failing to properly control the way in which spreadsheets are being used and managed,” said Ralph Baxter, the company's chief executive.

The research also found that 47% of users made between one and four errors on their spreadsheets, with 12% making between five and 10 errors.

“It is clear that the prospects for serious errors occurring within spreadsheets are very likely,” said Baxter. “Currently no department is charged with reviewing and securing spreadsheets, leaving this process entirely in the hands of the end-user. As our research has shown, this needs to change.”

The company surveyed 1498 spreadsheet users.