What is a model? If you favor brevity, a model:
predicts the outcome of a business issue, based on certain assumptions.
If, however you favor verbosity, a model is:
an algebraic equivalence, recorded on a spreadsheet, that predicts how an entity, or a transaction, will react to certain input (driver) conditions. It connects the inputs (assumptions) to the outputs (expectations or results). By definition, the model is predictive and quantifies what is expected to happen (outputs) based on certain assumptions (inputs).
A model offers a fact-based spreadsheet solution to a business issue.
A model allows for improvements in your decision-making process by changing from a “seat of the pants” approach to a “model development” approach. Improved decision-making leads to improved results.
The following represents a partial list of some Excel-based models which may be useful in helping you work through some of your business issues. Screenshots of these models are shown in the model screenshots section.
Range of Excel-Based Models for the SEGC: