Financial modelling- these use speadsheets and mathimatical calculations to process and display data. They have lots of useful features:
- Formulas- these preform calculations on the data and then update automatically when the data is changed.
- functions- these are standard rountines and are built in to the spreadsheet system, and are used to create more complex formulas, and claculate more complicated calculations.
- Varibles- these are identifiers and can be a name of a cell like A3, they are used in formulas, functions and what if analysis.
- logical arrangment of data in rows and columns.
- formulas can be easily replicated by copying and pasting or by dragging the formula across.
These features allow 'what if ' analysis of data. This is when the user can change certain varibles which allow them to predict the end outcome and see what effect these changes have on the end outcome.
object modelling- these create a vertual representation of an object, it can be used to model things like buildings and planes.
- for example, if the user wanted to test a new model of a plane he could change the length of the wings and the shape and see…