Chapter 5 Business Intelligence

Lab 3

Assignment: Excel Ch5 Formulas

Files necessary for assignment:

1. MIS-Ch5.xlsx

Special Instructions:

There are two worksheets that need to be completed. They are in the same file and can be accessed via tabs at the bottom of the spreadsheet window.

1. Arithmetic Operations
   1. You are required to open the starter file MIS-Ch5 and navigate to Arithmetic Operations Tab
   2. Write down the correct formula in front of the designated column. It should reflect the correct values, based on the sample data provided.
2. Ted's Cost Spreadsheet
   1. The instructions for this spreadsheet are present in the starter file.

Tips:

While writing the formulae, do not forget to start with = symbol

There are 128 fluid ounces in one gallon.

Objective: The objective of this activity is to help you understand that while spreadsheets are powerful, an interconnected workbook is even more so. You will learn how to write formulae that use information contained in different cells to help tie the worksheet together.

Chapter Connection: Even though the opening case makes the point that spreadsheets are antiquated and often not able to keep up with the vast amounts of data needed to run an organization, spreadsheets still occupy an important place in smaller organizations. This activity brings business intelligence to the smaller mom-and-pop organizations

Activity: As you have seen, Business Intelligence is a huge concept. It can, however, also apply in much smaller ways to everyday business. Business Intelligence can help small "Mom and Pop" organizations in tremendous ways. Consider the following example.

Ted is a 45-year old full-time Accountant. He loves his job and has had quite a successful career. He also takes great pride in working with his hands. Specifically, he has always enjoyed working with wood and making small rocking horses for children. For years he just made these for family and friends, but lately he has decided to start selling his work. The accountant side of him has kept detailed records of his inventory, costs, sales, hours, profits, losses, etc. Now it is time to take his workbook and create business intelligence out of it.

Ted's spreadsheet has some basic information but no formulas. It has notes in it to describe what he has done and the decisions he wants to make out of it. Specifically, Ted wants to know how much he has invested in each rocking horse. His time, materials, advertising, and other costs will definitely make a difference in his final price. Keep in mind that the point of this spreadsheet is to provide business intelligence. While spreadsheet skills are required, they are the means to an end of helping Ted set appropriate prices.

Deliverables: The nal product will be a spreadsheet with Teds data calculated to provide business intelligence in a small business scenario as well as the Arithmetic Operations tab completed.