Financial Model in QubeXL versus Excel
Financial Model in QubeXL versus Excel
QubeXL file size is a lot smaller than Excel workbook file. For example, QubeXL file is 5 MB and Excel workbook with same financial model is 73MB.
Much faster to work with and open QubeXL than it is an Excel workbook with same financial model.
Saving financial model is much faster than in Excel.
QubeXL uses a simple hierarchy of data frames and organizes things under Objects; each Object has Tables and each Table has it’s Columns. In contrast to Excel which has just a flat collection of worksheets.
QubeXL simplifies things by having formulae and calculations per column, table and object instead of per cell as in Excel. This allows for simpler and auditable models which are easily verified and extended. This also prevents any errors from occurring by accidentally overwriting a formula in a cell for example as in Excel.
QubeXL uses the most popular scripting language in the world: Javascript for all its scripting and calculations. The formulae and calculations specified with this language are much more human readable and meaningful than the way formulae are specified in Excel. Making it easy to understand immediately what a formula is doing and verify that it is correct.
QubeXL has a list and structure of all your calculation dependencies and precedents making these easily traceable.
Because QubeXL uses data frames borrowed from data science systems it can handle millions of rows per table and calculate these in times incomparable with traditional Excel models.
QubeXL is very navigable. Your model is organized in a Tree Structure that you can move through very dynamically. It is easy to find columns, tables that you are interested in etc. This is in contrast to Excel where you have to go search through a sheet to see where a column is.
For every item in your model, there is documentation available with it, so you can document what each part of your model is, making it meaningful and useful.
QubeXL will not let any error go by in the model. When your model calculates you know everything is working out. This is in contrast to Excel where errors can slip through in some cells that you might miss. If there is an error in the model, QubeXL will give an exact report on what the error is and enable you to easily navigate straight to where the error lies in your model so you can fix it.
Despite these differences, data in QubeXL is easily copied out or exported to Excel.