Overconfidence is one of the most substantial causes of spreadsheet errors.
Sakal, et al (2015)
Most executives do not really check or verify the accuracy or validity of [their] spreadsheets...
Teo & Tan (1999)
Spreadsheets are more fault-prone than other software.
Kulesz & Ostberg (2013)
60% of large companies feel 'Spreadsheet Hell' describes their reliance on spreadsheets.
Murphy (2007)
Studies have shown that there is a high incidence of errors in spreadsheets.
Csernoch & Biro (2013)
Despite overwhelming and unanimous evidence... companies have continued to ignore spreadsheet error risks.
Panko (2014)
Research on spreadsheet errors is substantial, compelling, and unanimous.
Panko (2015)
Spreadsheets contain errors at an alarmingly high rate.
Abraham, et al (2005)
A significant proportion of spreadsheets have severe quality problems.
Ayalew (2007)
Spreadsheet shortcomings can significantly hamper an organization's business operation.
Reschenhofer & Matthes (2015)
Spreadsheets are extraordinarily and unacceptably prone to error.
Dunn (2010)
A lot of decisions are being made on the basis of some bad numbers.
Ross (1996)
Spreadsheets are commonly used and commonly flawed.
Caulkins, Morrison, & Weidemann (2008)
...few incidents of spreadsheet errors are made public and these are usually not revealed by choice.
Kruck & Sheetz (2001)
Your spreadsheets may be disasters in the making.
Caulkins, Morrison, & Weidemann (2006)
Spreadsheet errors have resulted in huge financial losses.
Abraham & Erwig (2007)
Spreadsheets have a notoriously high number of faults.
Rust, et al (2006)
Developing an error-free spreadsheet has been a problem since the beginning of end-user computing.
Mireault (2015)
Spreadsheets are often hard, if not impossible, to understand.
Mireault & Gresham (2015)
The quality and reliability of spreadsheets is known to be poor.
Bishop & McDaid (2007)
Errors in spreadsheets are as ubiquitous as spreadsheets themselves.
Colbenz (2005)
94% of the 88 spreadsheets audited in 7 studies have contained errors.
Panko (2008)
The software that end users are creating... is riddled with errors.
Burnett & Myers (2014)
Spreadsheets are alarmingly error-prone to write.
Paine (2001)
Spreadsheet errors are pervasive, stubborn, ubiquitous and complex.
Irons (2003)
People tend to believe their spreadsheets are more accurate than they really are.
Caulkins, Morrison, & Weidemann (2006)
Spreadsheets... pose a greater threat to your business than almost anything you can imagine.
Howard (2005)
Programmers exhibit unwarranted confidence in the correctness of their spreadsheets.
Krishna, et al (2001)
Even obvious, elementary errors in very simple, clearly documented spreadsheets are... difficult to find.
Galletta, et al (1993)
Spreadsheets are dangerous to their authors and others.
Durusau & Hunting (2015)
Spreadsheet development must embrace extensive testing in order to be taken seriously as a profession.
Bock (2016)
Spreadsheets are notoriously error-prone.
Cunha, et al (2011)
Spreadsheets can be viewed as a highly flexible programming environment for end users.
Abreu, et al (2015)
Despite being staggeringly error prone, spreadsheets are a highly flexible programming environment.
Abreu, et al (2015)
The issue is not whether there is an error but how many errors there are and how serious they are.
Panko (2007)
1% of all formulas in operational spreadsheets are in error.
Powell, Baker, & Lawson (2009)
Spreadsheets are the most popular live programming environments, but they are also notoriously fault-prone.
Hermans & van der Storm (2015)
The untested spreadsheet is as dangerous and untrustworthy as an untested program.
Price (2006)
Spreadsheet errors are still the rule rather than the exception.
Nixon & O'Hara (2010)
Every study that has looked for errors has found them... in considerable abundance.
Panko & Halverson (1996)
Every study, without exception, has found error rates much higher than organizations would wish to tolerate.
Panko (1999)
It is now widely accepted that errors in spreadsheets are both common and potentially dangerous.
Nixon & O'Hara (2010)
Untested spreadsheets are riddled with errors.
Miller (2005)
Most large spreadsheets have dozens or even hundreds of errors.
Panko & Ordway (2005)
Never assume a spreadsheet is right, even your own.
Raffensperger (2001)
The results given by spreadsheets are often just wrong.
Sajaniemi (1998)
Spreadsheets are easy to use and very hard to check.
Chen & Chan (2000)
Spreadsheet errors... a great, often unrecognised, risk to corporate decision making & financial integrity.
Chadwick (2002)
Errors in spreadsheets... result in incorrect decisions being made and significant losses incurred.
Beaman, et al (2005)
It is irrational to expect large error-free spreadsheets.
Panko (2013)

Spreadsheet bibliography

Title A survey of the use and purpose of spreadsheets in SMEs in Serbia
Authors Marton Sakal, Lazar Rakovic, & Vuk Vukovic
Year 2017
Type Article
Publication Journal of Business Economics and Management
Series Volume 65, March-April, pages 294-305
Abstract

Due to their unique simplicity and flexibility, spreadsheets are nowadays used for various purposes, from financial calculations, planning, and data aggregation, to decision making at different levels of management.

Despite being created with the intention to be of temporary character, research shows that spreadsheets tend to supply support even in key business processes in organizations, often over longer periods of time.

Starting from the related work mentioned in the paper, and prompted by issues to which articles dealing with spreadsheet errors especially drew attention, the research had the objective to answer the following questions:

  • Are spreadsheets used in SMEs and to what extent?
  • How great is the significance of spreadsheets in the respondents' regular activities?
  • In which situations and for what purpose do the respondents use spreadsheets in SMEs?

The research encompassed 213 respondents from 147 Serbian SMEs. Among others, research results have shown that more than 90% of respondents use spreadsheets to a certain extent, most frequently MS Excel. Almost three-quarters of respondents regard spreadsheets as important for performing their work.

More than two-thirds of respondents have more than four years of spreadsheet experience, using them most frequently up to one-quarter of their working hours, usually as an auxiliary tool, as follows: more than a quarter when they cannot perform the task with the existing IS, and as many as 60% when they find it easier to perform their task with spreadsheets than using the existing official IS.

Full version Available
Sample
Importance of spreadsheets in the respondents' work
Importance of spreadsheets in the respondents' work

The highest percentage of respondents think that spreadsheets are extremely important in the work they perform, while a really small percentage of them are of the opposite opinion.

After the division of grades into low (1, 2 and 3) and high (4, 5 and 6), the results have become even clearer. In particular, it can be seen that as many as 83.57% of respondents regard spreadsheets as important for performing their work.

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