Spreadsheet Errors Slides Nick Silver

Errors occur in more than 1% of cells in spreadsheets and studies show errors in 20-40% of spreadsheets. Errors go undetected due to a lack of formal testing and transparency. There are different types of spreadsheet errors including mechanical errors from incorrect data entry, logical errors from faulty reasoning, and omissions of important data. The rate of errors and their detection increases based on the type of error, with mechanical errors being most easily detected and logical errors being hardest to find. Having more people review spreadsheets reduces the number of errors found.