Excel VS SQL as Database - My view as a Financial Controller

Рет қаралды 9,977

Жыл бұрын

In this video, I'm sharing my thoughts on using Excel and SQL as a database for financial analysis and management. As a Financial Controller, I've had extensive experience with both Excel and SQL and have seen the pros and cons of each approach.
I'll be discussing the benefits and limitations of using Excel as a database, including its ease of use, flexibility, and powerful data analysis tools. However, I'll also highlight the challenges of managing large datasets in Excel and the risks of errors and inconsistencies in data entry.
On the other hand, I'll also explore the advantages and drawbacks of using SQL as a database, including its scalability, security, and efficiency. But I'll also discuss the learning curve and complexity involved in setting up and maintaining an SQL database.
Ultimately, I'll provide my view on which approach is better suited for financial analysis and management and share my recommendations based on my experience as a Financial Controller.
I hope this video provides valuable insights and helps you make an informed decision on choosing the right database approach for your financial needs. Don't forget to like, comment, and subscribe for more finance and data analysis content!
#Database #DatabaseForFinance #ExcelVSSQL #CompareExcelSQL
MY FAVOURITE GEAR
💻 My Personal Laptop, Legion 5 Pro - amzn.to/3nZrn1I
✈️ My Travel Companion, Macbook Air M1 - amzn.to/43jLLuE
📷 My Camera Gear, Sony ZV-E10 - amzn.to/40T7uIj
🤝 BE MY FRIEND:
🐦 Twitter - / joelting92
🏢 Linkedin - / joel-ting
🙎🏻‍♂️ WHO AM I:
I'm Joel, an analyst working in Singapore. I make videos about technology, automation and productivity .
📧 GET IN TOUCH:
If you'd like to talk, I would love to hear from you. Email me directly at joelting92@gmail.com would be the quickest way to get a response. I will try my best to reply to your email as soon as possible.

Пікірлер: 23

@JustaNotherGirl-ec1cm Ай бұрын

Wow, so clear and easy to understand your points - and your demos to highlight those points are done perfectly - nothing superfluous. Thank you!

@Thr4sheRGRP Жыл бұрын

Thank you so much for your effort!! I’ll be waiting for the coming up videos about this topic, as is very useful for data analysis process Keep sharing your knowledge 💪💪

@vijaybharadwaj3816 Жыл бұрын

Can you please make a complete training on SQL or Python from the scratch? Im really want to learn and very much liked your way or style of presenting

@JoelTing Жыл бұрын

Thanks for the kind words! I'll work towards it. Have been quite caught up with my day work recently

@AS-td9rj Жыл бұрын

Thanks, joel for simple explaination, i was confused weather i should learn sql or not!!

@JoelTing Жыл бұрын

It's good to have some knowledge on it. I managed to maintain my own SQLite database and use that as a source for PowerBI.

@Jupiter1423 7 ай бұрын

I had a cash flow model at my last job and accidentally put the wrong period in my qtq % change. My manager was so pissed and i just remember thinking the model had so many effing formulas in it that it was just a matter of time that id make a mistake.

@JoelTing 7 ай бұрын

Thanks for sharing your experience! Financial models including cashflow can indeed be quite complex, , especially with numerous formulas involved and if updates are needed every month so that the calculation works correctly.

@LuisSanchez-fy4he Жыл бұрын

Hola amigo que buen video sigue publicando videos , son de mucha ayuda saludos desde Perú

@kingdoggie5231 6 ай бұрын

I’ll be honest I only wanna do this to look cool in front of my boss

@JoelTing 6 ай бұрын

That's a pretty good motivation to learn things 😎🤣

@saichandu5965 6 ай бұрын

very much intrested to leran sql with comlex data in pf&a

@JoelTing 6 ай бұрын

Learning SQL will help, but for you to leverage SQL, you need your data to be in SQL. Usually, in the Finance department, we rely on Excel to store our data. You need to think of how to build a database and a data pipeline to feed the data automatically (Python will help). Else, it will be hard to maintain.

@saichandu5965 6 ай бұрын

@@JoelTing so need to learn phyton and SQL both Cn you suggest anything basics or intermediate on this

@cryptowithkunal6740 Жыл бұрын

I thought you were an IT expert. How is life as a financial controller?

@JoelTing Жыл бұрын

I am more of a Finance guy. I picked up some skills along the way to help with my analysis of financial data. Life's good so far! 😀

@latestupdatedeepsingh8771 Жыл бұрын

Sir how can I take my output massage from SAP to Excel by VBA Like, VT02N tcode I am updating transporter name And massage is showing "Shipment has been changed" So output massage is "Shipment has been changed" I want to pick this massage from SAP by VBA code Please help me Give me VBA code please

@JoelTing Жыл бұрын

You can try "session.findById("sbar").text" to grab text in the status bar (I'm assuming that is what you are referring to).

@fakhrullnoor4102 Жыл бұрын

Hi Joel, do you mind if i email you regarding my VBA project?

@JoelTing Жыл бұрын

Hi there. Sure, I'll what I can help.

@fakhrullnoor4102 Жыл бұрын

@@JoelTing i open multi login sap then i select "continue with this logon and end any other logon system" then there will be a pop up of "back-end session closed by system" how can i do the script to close the popup? had any idea?

@mathijs9365 Жыл бұрын

U can use power query. SQL is not available to everyone. Certainly not for finance ppl. U need to install it and company policy wont allow it. Finance ppl mostly arnt database admin. They are only interested in period closing, analyse financial data. Thats why they master excel.

@JoelTing Жыл бұрын

Hi there. Thanks for the comment. Usually if there's a business case, the IT department will happily help to install the programs required. Actually SQLite does not require any installation that requires IT admin privileges. If the company laptop comes together with Python, then SQLite DB can simply be created using Python sqlite3 library. I agree Finance people are very unfamiliar with SQL. For me, I'm just importing my data into the DB so that I can query them more effectively. Usually I get data from SAP BW, but if it exceed more than 50k lines, it will take a long time to load (usually that's the case when I'm trying to do trend analysis across multiple years and it's just not feasible). I'm still exploring. Thanks for your insights!