<s>
A	O
spreadsheet	B-Application
is	O
a	O
computer	B-Application
application	I-Application
for	O
computation	O
,	O
organization	O
,	O
analysis	O
and	O
storage	B-General_Concept
of	O
data	O
in	O
tabular	B-Application
form	O
.	O
</s>
<s>
Spreadsheets	B-Application
were	O
developed	O
as	O
computerized	O
analogs	O
of	O
paper	O
accounting	O
worksheets	O
.	O
</s>
<s>
The	O
program	O
operates	O
on	O
data	O
entered	O
in	O
cells	B-General_Concept
of	O
a	O
table	O
.	O
</s>
<s>
Each	O
cell	O
may	O
contain	O
either	O
numeric	O
or	O
text	O
data	O
,	O
or	O
the	O
results	O
of	O
formulas	O
that	O
automatically	O
calculate	O
and	O
display	O
a	O
value	O
based	O
on	O
the	O
contents	O
of	O
other	O
cells	B-General_Concept
.	O
</s>
<s>
The	O
term	O
spreadsheet	B-Application
may	O
also	O
refer	O
to	O
one	O
such	O
electronic	O
document	O
.	O
</s>
<s>
Spreadsheet	B-Application
users	O
can	O
adjust	O
any	O
stored	O
value	O
and	O
observe	O
the	O
effects	O
on	O
calculated	O
values	O
.	O
</s>
<s>
This	O
makes	O
the	O
spreadsheet	B-Application
useful	O
for	O
"	O
what-if	O
"	O
analysis	O
since	O
many	O
cases	O
can	O
be	O
rapidly	O
investigated	O
without	O
manual	O
recalculation	O
.	O
</s>
<s>
Modern	O
spreadsheet	B-Application
software	I-Application
can	O
have	O
multiple	O
interacting	O
sheets	O
and	O
can	O
display	O
data	O
either	O
as	O
text	O
and	O
numerals	O
or	O
in	O
graphical	O
form	O
.	O
</s>
<s>
Besides	O
performing	O
basic	O
arithmetic	O
and	O
mathematical	O
functions	O
,	O
modern	O
spreadsheets	B-Application
provide	O
built-in	O
functions	O
for	O
common	O
financial	O
accountancy	O
and	O
statistical	O
operations	O
.	O
</s>
<s>
Such	O
calculations	O
as	O
net	O
present	O
value	O
or	O
standard	B-General_Concept
deviation	I-General_Concept
can	O
be	O
applied	O
to	O
tabular	B-Application
data	O
with	O
a	O
pre-programmed	O
function	O
in	O
a	O
formula	O
.	O
</s>
<s>
Spreadsheet	B-Application
programs	I-Application
also	O
provide	O
conditional	O
expressions	O
,	O
functions	O
to	O
convert	O
between	O
text	O
and	O
numbers	B-Operating_System
,	O
and	O
functions	O
that	O
operate	O
on	O
strings	O
of	O
text	O
.	O
</s>
<s>
Spreadsheets	B-Application
have	O
replaced	O
paper-based	O
systems	O
throughout	O
the	O
business	O
world	O
.	O
</s>
<s>
Although	O
they	O
were	O
first	O
developed	O
for	O
accounting	O
or	O
bookkeeping	O
tasks	O
,	O
they	O
now	O
are	O
used	O
extensively	O
in	O
any	O
context	O
where	O
tabular	B-Application
lists	O
are	O
built	O
,	O
sorted	O
,	O
and	O
shared	O
.	O
</s>
<s>
LANPAR	O
,	O
available	O
in	O
1969	O
,	O
was	O
the	O
first	O
electronic	O
spreadsheet	B-Application
on	O
mainframe	B-Architecture
and	O
time	B-General_Concept
sharing	I-General_Concept
computers	O
.	O
</s>
<s>
VisiCalc	B-Application
(	O
1979	O
)	O
was	O
the	O
first	O
electronic	O
spreadsheet	B-Application
on	O
a	O
microcomputer	O
,	O
and	O
it	O
helped	O
turn	O
the	O
Apple	B-Device
II	I-Device
computer	I-Device
into	O
a	O
popular	O
and	O
widely	O
used	O
system	O
.	O
</s>
<s>
Lotus	B-Application
1-2-3	I-Application
was	O
the	O
leading	O
spreadsheet	B-Application
when	O
DOS	B-Device
was	O
the	O
dominant	O
operating	O
system	O
.	O
</s>
<s>
Microsoft	B-Application
Excel	I-Application
now	O
has	O
the	O
largest	O
market	O
share	O
on	O
the	O
Windows	B-Application
and	O
Macintosh	B-Device
platforms	O
.	O
</s>
<s>
A	O
spreadsheet	B-Application
program	I-Application
is	O
a	O
standard	O
feature	O
of	O
an	O
office	B-Application
productivity	I-Application
suite	I-Application
;	O
since	O
the	O
advent	O
of	O
web	B-Application
apps	I-Application
,	O
office	B-Application
suites	O
now	O
also	O
exist	O
in	O
web	B-Application
app	I-Application
form	O
.	O
</s>
<s>
A	O
spreadsheet	B-Application
consists	O
of	O
a	O
table	O
of	O
cells	B-General_Concept
arranged	O
into	O
rows	O
and	O
columns	O
and	O
referred	O
to	O
by	O
the	O
X	O
and	O
Y	O
locations	O
.	O
</s>
<s>
X	O
locations	O
,	O
the	O
columns	O
,	O
are	O
normally	O
represented	O
by	O
letters	O
,	O
"	O
A	O
,	O
"	O
"	O
B	O
,	O
"	O
"	O
C	O
,	O
"	O
etc.	O
,	O
while	O
rows	O
are	O
normally	O
represented	O
by	O
numbers	B-Operating_System
,	O
1	O
,	O
2	O
,	O
3	O
,	O
etc	O
.	O
</s>
<s>
This	O
electronic	O
concept	O
of	O
cell	O
references	O
was	O
first	O
introduced	O
in	O
LANPAR	O
(	O
Language	O
for	O
Programming	O
Arrays	O
at	O
Random	O
)	O
(	O
co-invented	O
by	O
Rene	O
Pardo	O
and	O
Remy	O
Landau	O
)	O
and	O
a	O
variant	O
used	O
in	O
VisiCalc	B-Application
and	O
known	O
as	O
"	O
A1	O
notation	O
"	O
.	O
</s>
<s>
Additionally	O
,	O
spreadsheets	B-Application
have	O
the	O
concept	O
of	O
a	O
range	O
,	O
a	O
group	O
of	O
cells	B-General_Concept
,	O
normally	O
contiguous	O
.	O
</s>
<s>
For	O
instance	O
,	O
one	O
can	O
refer	O
to	O
the	O
first	O
ten	O
cells	B-General_Concept
in	O
the	O
first	O
column	O
with	O
the	O
range	O
"	O
A1:A10	O
"	O
.	O
</s>
<s>
LANPAR	O
innovated	O
forward	O
referencing/natural	O
order	O
calculation	O
which	O
did	O
n't	O
re-appear	O
until	O
Lotus	B-Application
123	I-Application
and	O
Microsoft	O
's	O
MultiPlan	B-Device
Version	O
2	O
.	O
</s>
<s>
In	O
modern	O
spreadsheet	B-Application
applications	O
,	O
several	O
spreadsheets	B-Application
,	O
often	O
known	O
as	O
worksheets	O
or	O
simply	O
sheets	O
,	O
are	O
gathered	O
together	O
to	O
form	O
a	O
workbook	O
.	O
</s>
<s>
A	O
workbook	O
is	O
physically	O
represented	O
by	O
a	O
file	O
containing	O
all	O
the	O
data	O
for	O
the	O
book	O
,	O
the	O
sheets	O
,	O
and	O
the	O
cells	B-General_Concept
with	O
the	O
sheets	O
.	O
</s>
<s>
Worksheets	O
are	O
normally	O
represented	O
by	O
tabs	O
that	O
flip	O
between	O
pages	O
,	O
each	O
one	O
containing	O
one	O
of	O
the	O
sheets	O
,	O
although	O
Numbers	B-Operating_System
changes	O
this	O
model	O
significantly	O
.	O
</s>
<s>
Cells	B-General_Concept
in	O
a	O
multi-sheet	O
book	O
add	O
the	O
sheet	O
name	O
to	O
their	O
reference	O
,	O
for	O
instance	O
,	O
"	O
Sheet	O
1	O
!	O
C10	O
"	O
.	O
</s>
<s>
Users	O
interact	O
with	O
sheets	O
primarily	O
through	O
the	O
cells	B-General_Concept
.	O
</s>
<s>
The	O
key	O
feature	O
of	O
spreadsheets	B-Application
is	O
the	O
ability	O
for	O
a	O
formula	O
to	O
refer	O
to	O
the	O
contents	O
of	O
other	O
cells	B-General_Concept
,	O
which	O
may	O
,	O
in	O
turn	O
,	O
be	O
the	O
result	O
of	O
a	O
formula	O
.	O
</s>
<s>
But	O
C10	O
might	O
also	O
hold	O
its	O
formula	O
referring	O
to	O
other	O
cells	B-General_Concept
,	O
and	O
so	O
on	O
.	O
</s>
<s>
The	O
ability	O
to	O
chain	O
formulas	O
together	O
is	O
what	O
gives	O
a	O
spreadsheet	B-Application
its	O
power	O
.	O
</s>
<s>
Many	O
problems	O
can	O
be	O
broken	O
down	O
into	O
a	O
series	O
of	O
individual	O
mathematical	O
steps	O
,	O
and	O
these	O
can	O
be	O
assigned	O
to	O
individual	O
formulas	O
in	O
cells	B-General_Concept
.	O
</s>
<s>
Some	O
of	O
these	O
formulas	O
can	O
apply	O
to	O
ranges	O
as	O
well	O
,	O
like	O
the	O
SUM	O
function	O
that	O
adds	O
up	O
all	O
the	O
numbers	B-Operating_System
within	O
a	O
range	O
.	O
</s>
<s>
Spreadsheets	B-Application
share	O
many	O
principles	O
and	O
traits	O
of	O
databases	O
,	O
but	O
spreadsheets	B-Application
and	O
databases	O
are	O
not	O
the	O
same	O
things	O
.	O
</s>
<s>
A	O
spreadsheet	B-Application
is	O
essentially	O
just	O
one	O
table	O
,	O
whereas	O
a	O
database	O
is	O
a	O
collection	O
of	O
many	O
tables	O
with	O
machine-readable	B-General_Concept
semantic	O
relationships	O
.	O
</s>
<s>
While	O
it	O
is	O
true	O
that	O
a	O
workbook	O
that	O
contains	O
three	O
sheets	O
is	O
indeed	O
a	O
file	O
containing	O
multiple	O
tables	O
that	O
can	O
interact	O
with	O
each	O
other	O
,	O
it	O
lacks	O
the	O
relational	B-Architecture
structure	I-Architecture
of	O
a	O
database	O
.	O
</s>
<s>
Spreadsheets	B-Application
and	O
databases	O
are	O
interoperable	O
—	O
sheets	O
can	O
be	O
imported	B-General_Concept
into	O
databases	O
to	O
become	O
tables	O
within	O
them	O
,	O
and	O
database	O
queries	O
can	O
be	O
exported	O
into	O
spreadsheets	B-Application
for	O
further	O
analysis	O
.	O
</s>
<s>
A	O
spreadsheet	B-Application
program	I-Application
is	O
one	O
of	O
the	O
main	O
components	O
of	O
an	O
office	B-Application
productivity	I-Application
suite	I-Application
,	O
which	O
usually	O
also	O
contains	O
a	O
word	B-General_Concept
processor	I-General_Concept
,	O
a	O
presentation	B-Application
program	I-Application
,	O
and	O
a	O
database	O
management	O
system	O
.	O
</s>
<s>
This	O
was	O
particularly	O
an	O
advantage	O
at	O
a	O
time	O
when	O
many	O
personal	B-Device
computer	I-Device
systems	O
used	O
text-mode	O
displays	O
and	O
commands	O
instead	O
of	O
a	O
graphical	B-Application
user	I-Application
interface	I-Application
.	O
</s>
<s>
The	O
word	O
"	O
spreadsheet	B-Application
"	O
came	O
from	O
"	O
spread	O
"	O
in	O
its	O
sense	O
of	O
a	O
newspaper	O
or	O
magazine	O
item	O
(	O
text	O
or	O
graphics	O
)	O
that	O
covers	O
two	O
facing	O
pages	O
,	O
extending	O
across	O
the	O
centerfold	O
and	O
treating	O
the	O
two	O
pages	O
as	O
one	O
large	O
page	O
.	O
</s>
<s>
The	O
compound	O
word	O
'	O
spread-sheet	O
'	O
came	O
to	O
mean	O
the	O
format	O
used	O
to	O
present	O
book-keeping	O
ledgers	B-Language
—	O
with	O
columns	O
for	O
categories	O
of	O
expenditures	O
across	O
the	O
top	O
,	O
invoices	O
listed	O
down	O
the	O
left	O
margin	O
,	O
and	O
the	O
amount	O
of	O
each	O
payment	O
in	O
the	O
cell	O
where	O
its	O
row	O
and	O
column	O
intersect	O
—	O
which	O
were	O
,	O
traditionally	O
,	O
a	O
"	O
spread	O
"	O
across	O
facing	O
pages	O
of	O
a	O
bound	O
ledger	B-Language
(	O
book	O
for	O
keeping	O
accounting	O
records	O
)	O
or	O
on	O
oversized	O
sheets	O
of	O
paper	O
(	O
termed	O
'	O
analysis	O
paper	O
 '	O
)	O
ruled	O
into	O
rows	O
and	O
columns	O
in	O
that	O
format	O
and	O
approximately	O
twice	O
as	O
wide	O
as	O
ordinary	O
paper	O
.	O
</s>
<s>
A	O
batch	B-General_Concept
"	O
spreadsheet	B-Application
"	O
is	O
indistinguishable	O
from	O
a	O
batch	B-General_Concept
compiler	O
with	O
added	O
input	O
data	O
,	O
producing	O
an	O
output	O
report	O
,	O
i.e.	O
,	O
a	O
4GL	B-Language
or	O
conventional	O
,	O
non-interactive	B-General_Concept
,	O
batch	B-General_Concept
computer	B-Application
program	I-Application
.	O
</s>
<s>
However	O
,	O
this	O
concept	O
of	O
an	O
electronic	O
spreadsheet	B-Application
was	O
outlined	O
in	O
the	O
1961	O
paper	O
"	O
Budgeting	O
Models	O
and	O
System	O
Simulation	O
"	O
by	O
Richard	O
Mattessich	O
.	O
</s>
<s>
9	O
,	O
Accounting	O
and	O
Analytical	O
Methods	O
)	O
and	O
its	O
companion	O
volume	O
,	O
Mattessich	O
(	O
1964b	O
,	O
Simulation	O
of	O
the	O
Firm	O
through	O
a	O
Budget	O
Computer	B-Application
Program	I-Application
)	O
applied	O
computerized	O
spreadsheets	B-Application
to	O
accounting	O
and	O
budgeting	O
systems	O
(	O
on	O
mainframe	B-Architecture
computers	I-Architecture
programmed	O
in	O
FORTRAN	B-Application
IV	O
)	O
.	O
</s>
<s>
These	O
batch	B-General_Concept
Spreadsheets	B-Application
dealt	O
primarily	O
with	O
the	O
addition	O
or	O
subtraction	O
of	O
entire	O
columns	O
or	O
rows	O
(	O
of	O
input	O
variables	O
)	O
,	O
rather	O
than	O
individual	O
cells	B-General_Concept
.	O
</s>
<s>
In	O
1962	O
,	O
this	O
concept	O
of	O
the	O
spreadsheet	B-Application
,	O
called	O
BCL	O
for	O
Business	O
Computer	O
Language	O
,	O
was	O
implemented	O
on	O
an	O
IBM	B-Device
1130	I-Device
and	O
in	O
1963	O
was	O
ported	O
to	O
an	O
IBM	B-Device
7040	I-Device
by	O
R	O
.	O
Brian	O
Walsh	O
at	O
Marquette	O
University	O
,	O
Wisconsin	O
.	O
</s>
<s>
This	O
program	O
was	O
written	O
in	O
Fortran	B-Application
.	O
</s>
<s>
Primitive	O
timesharing	B-General_Concept
was	O
available	O
on	O
those	O
machines	O
.	O
</s>
<s>
In	O
1968	O
BCL	O
was	O
ported	O
by	O
Walsh	O
to	O
the	O
IBM	O
360/67	O
timesharing	B-General_Concept
machine	O
at	O
Washington	O
State	O
University	O
.	O
</s>
<s>
Applied	O
Data	O
Resources	O
had	O
a	O
FORTRAN	B-Application
preprocessor	O
called	O
Empires	O
.	O
</s>
<s>
In	O
the	O
late	O
1960s	O
,	O
Xerox	O
used	O
BCL	O
to	O
develop	O
a	O
more	O
sophisticated	O
version	O
for	O
their	O
timesharing	B-General_Concept
system	O
.	O
</s>
<s>
A	O
key	O
invention	O
in	O
the	O
development	O
of	O
electronic	O
spreadsheets	B-Application
was	O
made	O
by	O
Rene	O
K	O
.	O
Pardo	O
and	O
Remy	O
Landau	O
,	O
who	O
filed	O
in	O
1970	O
on	O
a	O
spreadsheet	B-Application
automatic	O
natural	O
order	O
calculation	O
algorithm	O
.	O
</s>
<s>
While	O
the	O
patent	O
was	O
initially	O
rejected	O
by	O
the	O
patent	O
office	B-Application
as	O
being	O
a	O
purely	O
mathematical	O
invention	O
,	O
following	O
12	O
years	O
of	O
appeals	O
,	O
Pardo	O
and	O
Landau	O
won	O
a	O
landmark	O
court	O
case	O
at	O
the	O
Predecessor	O
Court	O
of	O
the	O
Federal	O
Circuit	O
(	O
CCPA	O
)	O
,	O
overturning	O
the	O
Patent	O
Office	B-Application
in	O
1983	O
—	O
establishing	O
that	O
"	O
something	O
does	O
not	O
cease	O
to	O
become	O
patentable	O
merely	O
because	O
the	O
point	O
of	O
novelty	O
is	O
in	O
an	O
algorithm.	O
"	O
</s>
<s>
Its	O
uniqueness	O
was	O
Pardo	O
's	O
co-invention	O
incorporating	O
forward	O
referencing/natural	O
order	O
calculation	O
(	O
one	O
of	O
the	O
first	O
"	O
non-procedural	O
"	O
computer	O
languages	O
)	O
as	O
opposed	O
to	O
left-to-right	O
,	O
top	O
to	O
bottom	O
sequence	O
for	O
calculating	O
the	O
results	O
in	O
each	O
cell	O
that	O
was	O
used	O
by	O
VisiCalc	B-Application
,	O
SuperCalc	B-Application
,	O
and	O
the	O
first	O
version	O
of	O
MultiPlan	B-Device
.	O
</s>
<s>
Without	O
forward	O
referencing/natural	O
order	O
calculation	O
,	O
the	O
user	O
had	O
to	O
refresh	O
the	O
spreadsheet	B-Application
until	O
the	O
values	O
in	O
all	O
cells	B-General_Concept
remained	O
unchanged	O
.	O
</s>
<s>
Once	O
the	O
cell	O
values	O
stayed	O
constant	O
,	O
the	O
user	O
was	O
assured	O
that	O
there	O
were	O
no	O
remaining	O
forward	O
references	O
within	O
the	O
spreadsheet	B-Application
.	O
</s>
<s>
They	O
decided	O
to	O
save	O
themselves	O
a	O
lot	O
of	O
effort	O
and	O
wrote	O
a	O
computer	B-Application
program	I-Application
that	O
produced	O
their	O
tables	O
for	O
them	O
.	O
</s>
<s>
"	O
AutoPlan	O
"	O
ran	O
on	O
GE	O
's	O
Time-sharing	B-General_Concept
service	O
;	O
afterward	O
,	O
a	O
version	O
that	O
ran	O
on	O
IBM	B-Device
mainframes	I-Device
was	O
introduced	O
under	O
the	O
name	O
AutoTab	O
.	O
</s>
<s>
(	O
National	O
CSS	O
offered	O
a	O
similar	O
product	O
,	O
CSSTAB	O
,	O
which	O
had	O
a	O
moderate	O
timesharing	B-General_Concept
user	O
base	O
by	O
the	O
early	O
1970s	O
.	O
</s>
<s>
A	O
major	O
application	B-Application
was	O
opinion	O
research	O
tabulation	B-Application
.	O
)	O
</s>
<s>
AutoPlan/AutoTab	O
was	O
not	O
a	O
WYSIWYG	B-Application
interactive	B-General_Concept
spreadsheet	B-Application
program	I-Application
,	O
it	O
was	O
a	O
simple	O
scripting	B-Language
language	I-Language
for	O
spreadsheets	B-Application
.	O
</s>
<s>
GE	O
Information	O
Services	O
,	O
which	O
operated	O
the	O
time-sharing	B-General_Concept
service	O
,	O
also	O
launched	O
its	O
own	O
spreadsheet	B-Application
system	O
,	O
Financial	O
Analysis	O
Language	O
(	O
FAL	O
)	O
,	O
circa	O
1974	O
.	O
</s>
<s>
It	O
was	O
later	O
supplemented	O
by	O
an	O
additional	O
spreadsheet	B-Application
language	O
,	O
TABOL	O
,	O
which	O
was	O
developed	O
by	O
an	O
independent	O
author	O
,	O
Oliver	O
Vellacott	O
in	O
the	O
UK	O
.	O
</s>
<s>
It	O
ran	O
on	O
an	O
IBM	B-Device
mainframe	I-Device
and	O
was	O
among	O
the	O
first	O
applications	O
for	O
financial	O
planning	O
developed	O
with	O
APL	B-Language
that	O
completely	O
hid	O
the	O
programming	O
language	O
from	O
the	O
end-user	O
.	O
</s>
<s>
Through	O
IBM	O
's	O
VM	B-Application
operating	I-Application
system	I-Application
,	O
it	O
was	O
among	O
the	O
first	O
programs	O
to	O
auto-update	O
each	O
copy	O
of	O
the	O
application	B-Application
as	O
new	O
versions	O
were	O
released	O
.	O
</s>
<s>
Compared	O
to	O
any	O
contemporary	O
alternatives	O
,	O
it	O
could	O
support	O
very	O
large	O
spreadsheets	B-Application
.	O
</s>
<s>
It	O
loaded	O
actual	O
financial	O
planning	O
data	O
drawn	O
from	O
the	O
legacy	O
batch	B-General_Concept
system	I-General_Concept
into	O
each	O
user	O
's	O
spreadsheet	B-Application
monthly	O
.	O
</s>
<s>
It	O
was	O
designed	O
to	O
optimize	O
the	O
power	O
of	O
APL	B-Language
through	O
object	O
kernels	O
,	O
increasing	O
program	O
efficiency	O
by	O
as	O
much	O
as	O
50	O
fold	O
over	O
traditional	O
programming	O
approaches	O
.	O
</s>
<s>
An	O
example	O
of	O
an	O
early	O
"	O
industrial	O
weight	O
"	O
spreadsheet	B-Application
was	O
APLDOT	O
,	O
developed	O
in	O
1976	O
at	O
the	O
United	O
States	O
Railway	O
Association	O
on	O
an	O
IBM	O
360/91	O
,	O
running	O
at	O
The	O
Johns	O
Hopkins	O
University	O
Applied	O
Physics	O
Laboratory	O
in	O
Laurel	O
,	O
MD	O
.	O
</s>
<s>
The	O
application	B-Application
was	O
used	O
successfully	O
for	O
many	O
years	O
in	O
developing	O
such	O
applications	O
as	O
financial	O
and	O
costing	O
models	O
for	O
the	O
US	O
Congress	O
and	O
for	O
Conrail	O
.	O
</s>
<s>
APLDOT	O
was	O
dubbed	O
a	O
"	O
spreadsheet	B-Application
"	O
because	O
financial	O
analysts	O
and	O
strategic	O
planners	O
used	O
it	O
to	O
solve	O
the	O
same	O
problems	O
they	O
addressed	O
with	O
paper	O
spreadsheet	B-Application
pads	O
.	O
</s>
<s>
Because	O
Dan	O
Bricklin	O
and	O
Bob	O
Frankston	O
implemented	O
VisiCalc	B-Application
on	O
the	O
Apple	B-Device
II	I-Device
in	O
1979	O
and	O
the	O
IBM	B-Device
PC	I-Device
in	O
1981	O
,	O
the	O
spreadsheet	B-Application
concept	O
became	O
widely	O
known	O
in	O
the	O
early	O
1980s	O
.	O
</s>
<s>
VisiCalc	B-Application
was	O
the	O
first	O
spreadsheet	B-Application
that	O
combined	O
all	O
essential	O
features	O
of	O
modern	O
spreadsheet	B-Application
applications	O
(	O
except	O
for	O
forward	O
referencing/natural	O
order	O
recalculation	O
)	O
,	O
such	O
as	O
WYSIWYG	B-Application
interactive	B-General_Concept
user	O
interface	O
,	O
automatic	O
recalculation	O
,	O
status	O
and	O
formula	O
lines	O
,	O
range	O
copying	O
with	O
relative	O
and	O
absolute	O
references	O
,	O
formula	O
building	O
by	O
selecting	O
referenced	O
cells	B-General_Concept
.	O
</s>
<s>
Unaware	O
of	O
LANPAR	O
at	O
the	O
time	O
PC	O
World	O
magazine	O
called	O
VisiCalc	B-Application
the	O
first	O
electronic	O
spreadsheet	B-Application
.	O
</s>
<s>
Bricklin	O
has	O
spoken	O
of	O
watching	O
his	O
university	O
professor	O
create	O
a	O
table	O
of	O
calculation	O
results	O
on	O
a	O
blackboard	B-General_Concept
.	O
</s>
<s>
When	O
the	O
professor	O
found	O
an	O
error	O
,	O
he	O
had	O
to	O
tediously	O
erase	O
and	O
rewrite	O
several	O
sequential	O
entries	O
in	O
the	O
table	O
,	O
triggering	O
Bricklin	O
to	O
think	O
that	O
he	O
could	O
replicate	O
the	O
process	O
on	O
a	O
computer	O
,	O
using	O
the	O
blackboard	B-General_Concept
as	O
the	O
model	O
to	O
view	O
results	O
of	O
underlying	O
formulas	O
.	O
</s>
<s>
His	O
idea	O
became	O
VisiCalc	B-Application
,	O
the	O
first	O
application	B-Application
that	O
turned	O
the	O
personal	B-Device
computer	I-Device
from	O
a	O
hobby	O
for	O
computer	O
enthusiasts	O
into	O
a	O
business	O
tool	O
.	O
</s>
<s>
VisiCalc	B-Application
went	O
on	O
to	O
become	O
the	O
first	O
"	O
killer	O
application	B-Application
"	O
,	O
an	O
application	B-Application
that	O
was	O
so	O
compelling	O
,	O
people	O
would	O
buy	O
a	O
particular	O
computer	O
just	O
to	O
use	O
it	O
.	O
</s>
<s>
VisiCalc	B-Application
was	O
in	O
no	O
small	O
part	O
responsible	O
for	O
the	O
Apple	B-Device
II	I-Device
's	O
success	O
.	O
</s>
<s>
The	O
program	O
was	O
later	O
ported	O
to	O
a	O
number	O
of	O
other	O
early	O
computers	O
,	O
notably	O
CP/M	B-Application
machines	O
,	O
the	O
Atari	B-Device
8-bit	I-Device
family	I-Device
and	O
various	O
Commodore	O
platforms	O
.	O
</s>
<s>
Nevertheless	O
,	O
VisiCalc	B-Application
remains	O
best	O
known	O
as	O
an	O
Apple	B-Device
II	I-Device
program	O
.	O
</s>
<s>
SuperCalc	B-Application
was	O
a	O
spreadsheet	B-Application
application	B-Application
published	O
by	O
Sorcim	O
in	O
1980	O
,	O
and	O
originally	O
bundled	O
(	O
along	O
with	O
WordStar	O
)	O
as	O
part	O
of	O
the	O
CP/M	B-Application
software	O
package	O
included	O
with	O
the	O
Osborne	O
1	O
portable	O
computer	O
.	O
</s>
<s>
It	O
quickly	O
became	O
the	O
de	O
facto	O
standard	O
spreadsheet	B-Application
for	O
CP/M	B-Application
and	O
was	O
ported	O
to	O
MS-DOS	O
in	O
1982	O
.	O
</s>
<s>
The	O
acceptance	O
of	O
the	O
IBM	B-Device
PC	I-Device
following	O
its	O
introduction	O
in	O
August	O
1981	O
,	O
began	O
slowly	O
because	O
most	O
of	O
the	O
programs	O
available	O
for	O
it	O
were	O
translations	O
from	O
other	O
computer	O
models	O
.	O
</s>
<s>
Things	O
changed	O
dramatically	O
with	O
the	O
introduction	O
of	O
Lotus	B-Application
1-2-3	I-Application
in	O
November	O
1982	O
,	O
and	O
release	O
for	O
sale	O
in	O
January	O
1983	O
.	O
</s>
<s>
Since	O
it	O
was	O
written	O
especially	O
for	O
the	O
IBM	B-Device
PC	I-Device
,	O
it	O
had	O
a	O
good	O
performance	O
and	O
grew	O
in	O
popularity	O
.	O
</s>
<s>
Lotus	B-Application
1-2-3	I-Application
drove	O
sales	O
of	O
the	O
PC	O
due	O
to	O
the	O
improvements	O
in	O
speed	O
and	O
graphics	O
compared	O
to	O
VisiCalc	B-Application
on	O
the	O
Apple	B-Device
II	I-Device
.	O
</s>
<s>
Lotus	B-Application
1-2-3	I-Application
,	O
along	O
with	O
its	O
competitor	O
Borland	O
Quattro	B-Application
,	O
soon	O
displaced	O
VisiCalc	B-Application
.	O
</s>
<s>
Lotus	B-Application
1-2-3	I-Application
was	O
released	O
on	O
January	O
26	O
,	O
1983	O
,	O
started	O
outselling	O
then-most-popular	O
VisiCalc	B-Application
the	O
very	O
same	O
year	O
,	O
and	O
for	O
several	O
years	O
was	O
the	O
leading	O
spreadsheet	B-Application
for	O
DOS	B-Device
.	O
</s>
<s>
Microsoft	O
released	O
the	O
first	O
version	O
of	O
Excel	B-Application
for	O
the	O
Macintosh	B-Device
on	O
September	O
30	O
,	O
1985	O
,	O
and	O
then	O
ported	O
it	O
to	O
Windows	B-Application
,	O
with	O
the	O
first	O
version	O
being	O
numbered	O
2.05	O
(	O
to	O
synchronize	O
with	O
the	O
Macintosh	B-Device
version	O
2.2	O
)	O
and	O
released	O
in	O
November	O
1987	O
.	O
</s>
<s>
The	O
Windows	B-Application
3.x	O
platforms	O
of	O
the	O
early	O
1990s	O
made	O
it	O
possible	O
for	O
Excel	B-Application
to	O
take	O
market	O
share	O
from	O
Lotus	O
.	O
</s>
<s>
By	O
the	O
time	O
Lotus	O
responded	O
with	O
usable	O
Windows	B-Application
products	O
,	O
Microsoft	O
had	O
begun	O
to	O
assemble	O
their	O
Office	B-Application
suite	O
.	O
</s>
<s>
By	O
1995	O
,	O
Excel	B-Application
was	O
the	O
market	O
leader	O
,	O
edging	O
out	O
Lotus	B-Application
1-2-3	I-Application
,	O
and	O
in	O
2013	O
,	O
IBM	O
discontinued	O
Lotus	B-Application
1-2-3	I-Application
altogether	O
.	O
</s>
<s>
Notable	O
current	O
web-based	B-Application
spreadsheet	B-Application
software	I-Application
:	O
</s>
<s>
Collabora	B-General_Concept
Online	I-General_Concept
Calc	I-General_Concept
is	O
a	O
free	B-Application
,	O
open-source	B-Application
and	O
cross-platform	B-Operating_System
enterprise-ready	O
edition	O
of	O
LibreOffice	O
.	O
</s>
<s>
is	O
a	O
simple	O
open-source	B-Application
collaborative	O
spreadsheet	B-Application
that	O
runs	O
in	O
browsers	O
.	O
</s>
<s>
ExecuCalc	O
,	O
from	O
Parallax	O
Systems	O
,	O
Inc.	O
:	O
Released	O
in	O
late	O
1982	O
,	O
ExecuCalc	O
was	O
the	O
first	O
mainframe	B-Architecture
"	O
visi-clone	O
"	O
which	O
duplicated	O
the	O
features	O
of	O
VisiCalc	B-Application
on	O
IBM	B-Device
mainframes	I-Device
with	O
3270	O
display	O
terminals	O
.	O
</s>
<s>
Notable	O
current	O
spreadsheet	B-Application
software	I-Application
:	O
</s>
<s>
Apache	B-Application
OpenOffice	I-Application
Calc	I-Application
is	O
a	O
free	B-Application
and	O
open-source	B-Application
.	O
</s>
<s>
Collabora	B-General_Concept
Online	I-General_Concept
Calc	I-General_Concept
for	O
mobile	O
and	O
desktop	B-Application
apps	I-Application
are	O
free	B-Application
,	O
open-source	B-Application
,	O
cross-platform	B-Operating_System
enterprise-ready	O
editions	O
of	O
LibreOffice	O
.	O
</s>
<s>
Gnumeric	B-Language
is	O
free	B-Application
and	O
cross-platform	B-Operating_System
,	O
it	O
is	O
part	O
of	O
the	O
GNOME	B-Application
Free	B-Application
Software	I-Application
Desktop	O
Project	O
.	O
</s>
<s>
LibreOffice	B-Operating_System
Calc	I-Operating_System
is	O
free	B-Application
,	O
open-source	B-Application
and	O
cross	B-Operating_System
platform	I-Operating_System
.	O
</s>
<s>
Numbers	B-Operating_System
is	O
Apple	O
Inc.	O
'	O
s	O
spreadsheet	B-Application
software	I-Application
,	O
part	O
of	O
iWork	B-Application
.	O
</s>
<s>
Discontinued	O
spreadsheet	B-Application
software	I-Application
:	O
</s>
<s>
Several	O
companies	O
have	O
attempted	O
to	O
break	O
into	O
the	O
spreadsheet	B-Application
market	O
with	O
programs	O
based	O
on	O
very	O
different	O
paradigms	O
.	O
</s>
<s>
Lotus	O
introduced	O
what	O
is	O
likely	O
the	O
most	O
successful	O
example	O
,	O
Lotus	B-Device
Improv	I-Device
,	O
which	O
saw	O
some	O
commercial	O
success	O
,	O
notably	O
in	O
the	O
financial	O
world	O
where	O
its	O
powerful	O
data	B-Application
mining	I-Application
capabilities	O
remain	O
well	O
respected	O
to	O
this	O
day	O
.	O
</s>
<s>
Spreadsheet	B-Language
2000	I-Language
attempted	O
to	O
dramatically	O
simplify	O
formula	O
construction	O
,	O
but	O
was	O
generally	O
not	O
successful	O
.	O
</s>
<s>
The	O
main	O
concepts	O
are	O
those	O
of	O
a	O
grid	O
of	O
cells	B-General_Concept
,	O
called	O
a	O
sheet	O
,	O
with	O
either	O
raw	O
data	O
,	O
called	O
values	O
,	O
or	O
formulas	O
in	O
the	O
cells	B-General_Concept
.	O
</s>
<s>
Values	O
are	O
general	O
numbers	B-Operating_System
,	O
but	O
can	O
also	O
be	O
pure	O
text	O
,	O
dates	O
,	O
months	O
,	O
etc	O
.	O
</s>
<s>
Extensions	O
of	O
these	O
concepts	O
include	O
logical	B-Language
spreadsheets	I-Language
.	O
</s>
<s>
Various	O
tools	O
for	O
programming	O
sheets	O
,	O
visualizing	O
data	O
,	O
remotely	O
connecting	O
sheets	O
,	O
displaying	O
cells	B-General_Concept
 '	O
dependencies	O
,	O
etc	O
.	O
</s>
<s>
An	O
array	O
of	O
cells	B-General_Concept
is	O
called	O
a	O
sheet	O
or	O
worksheet	O
.	O
</s>
<s>
It	O
is	O
analogous	O
to	O
an	O
array	O
of	O
variables	O
in	O
a	O
conventional	O
computer	B-Application
program	I-Application
(	O
although	O
certain	O
unchanging	O
values	O
,	O
once	O
entered	O
,	O
could	O
be	O
considered	O
,	O
by	O
the	O
same	O
analogy	O
,	O
constants	O
)	O
.	O
</s>
<s>
In	O
most	O
implementations	O
,	O
many	O
worksheets	O
may	O
be	O
located	O
within	O
a	O
single	O
spreadsheet	B-Application
.	O
</s>
<s>
A	O
worksheet	O
is	O
simply	O
a	O
subset	O
of	O
the	O
spreadsheet	B-Application
divided	O
for	O
the	O
sake	O
of	O
clarity	O
.	O
</s>
<s>
Functionally	O
,	O
the	O
spreadsheet	B-Application
operates	O
as	O
a	O
whole	O
and	O
all	O
cells	B-General_Concept
operate	O
as	O
global	O
variables	O
within	O
the	O
spreadsheet	B-Application
(	O
each	O
variable	O
having	O
'	O
read	O
 '	O
access	O
only	O
except	O
its	O
containing	O
cell	O
)	O
.	O
</s>
<s>
Computer	O
scientist	O
Alan	O
Kay	O
used	O
the	O
term	O
value	O
rule	O
to	O
summarize	O
a	O
spreadsheet	B-Application
's	O
operation	O
:	O
a	O
cell	O
's	O
value	O
relies	O
solely	O
on	O
the	O
formula	O
the	O
user	O
has	O
typed	O
into	O
the	O
cell	O
.	O
</s>
<s>
–	O
Value	O
Rule	O
The	O
formula	O
may	O
rely	O
on	O
the	O
value	O
of	O
other	O
cells	B-General_Concept
,	O
but	O
those	O
cells	B-General_Concept
are	O
likewise	O
restricted	O
to	O
user-entered	O
data	O
or	O
formulas	O
.	O
</s>
<s>
In	O
the	O
context	O
of	O
programming	O
languages	O
,	O
this	O
yields	O
a	O
limited	O
form	O
of	O
first-order	O
functional	B-Language
programming	I-Language
.	O
</s>
<s>
A	O
standard	O
of	O
spreadsheets	B-Application
since	O
the	O
1980s	O
,	O
this	O
optional	O
feature	O
eliminates	O
the	O
need	O
to	O
manually	O
request	O
the	O
spreadsheet	B-Application
program	I-Application
to	O
recalculate	O
values	O
(	O
nowadays	O
typically	O
the	O
default	O
option	O
unless	O
specifically	O
'	O
switched	O
off	O
 '	O
for	O
large	O
spreadsheets	B-Application
,	O
usually	O
to	O
improve	O
performance	O
)	O
.	O
</s>
<s>
Some	O
earlier	O
spreadsheets	B-Application
required	O
a	O
manual	O
request	O
to	O
recalculate	O
since	O
the	O
recalculation	O
of	O
large	O
or	O
complex	O
spreadsheets	B-Application
often	O
reduced	O
data	O
entry	O
speed	O
.	O
</s>
<s>
Many	O
modern	O
spreadsheets	B-Application
still	O
retain	O
this	O
option	O
.	O
</s>
<s>
Recalculation	O
generally	O
requires	O
that	O
there	O
are	O
no	O
circular	B-Language
dependencies	I-Language
in	O
a	O
spreadsheet	B-Application
.	O
</s>
<s>
Dependency	O
graphs	B-Application
without	O
circular	B-Language
dependencies	I-Language
form	O
directed	O
acyclic	O
graphs	B-Application
,	O
representations	O
of	O
partial	O
orderings	O
(	O
in	O
this	O
case	O
,	O
across	O
a	O
spreadsheet	B-Application
)	O
that	O
can	O
be	O
relied	O
upon	O
to	O
give	O
a	O
definite	O
result	O
.	O
</s>
<s>
This	O
feature	O
refers	O
to	O
updating	O
a	O
cell	O
's	O
contents	O
periodically	O
with	O
a	O
value	O
from	O
an	O
external	O
source	O
—	O
such	O
as	O
a	O
cell	O
in	O
a	O
"	O
remote	O
"	O
spreadsheet	B-Application
.	O
</s>
<s>
For	O
shared	O
,	O
Web-based	B-Application
spreadsheets	B-Application
,	O
it	O
applies	O
to	O
"	O
immediately	O
"	O
updating	O
cells	B-General_Concept
another	O
user	O
has	O
updated	O
.	O
</s>
<s>
All	O
dependent	O
cells	B-General_Concept
must	O
be	O
updated	O
also	O
.	O
</s>
<s>
Once	O
entered	O
,	O
selected	O
cells	B-General_Concept
(	O
or	O
the	O
entire	O
spreadsheet	B-Application
)	O
can	O
optionally	O
be	O
"	O
locked	O
"	O
to	O
prevent	O
accidental	O
overwriting	O
.	O
</s>
<s>
Typically	O
this	O
would	O
apply	O
to	O
cells	B-General_Concept
containing	O
formulas	O
but	O
might	O
apply	O
to	O
cells	B-General_Concept
containing	O
"	O
constants	O
"	O
such	O
as	O
a	O
kilogram/pounds	O
conversion	O
factor	O
(	O
2.20462262	O
to	O
eight	O
decimal	B-Architecture
places	I-Architecture
)	O
.	O
</s>
<s>
Even	O
though	O
individual	O
cells	B-General_Concept
are	O
marked	O
as	O
locked	O
,	O
the	O
spreadsheet	B-Application
data	O
are	O
not	O
protected	O
until	O
the	O
feature	O
is	O
activated	O
in	O
the	O
file	O
preferences	O
.	O
</s>
<s>
Some	O
cell	O
formats	O
such	O
as	O
"	O
numeric	O
"	O
or	O
"	O
currency	O
"	O
can	O
also	O
specify	O
the	O
number	O
of	O
decimal	B-Architecture
places	I-Architecture
.	O
</s>
<s>
Depending	O
on	O
the	O
capability	O
of	O
the	O
spreadsheet	B-Application
application	B-Application
,	O
each	O
cell	O
(	O
like	O
its	O
counterpart	O
the	O
"	O
style	O
"	O
in	O
a	O
word	B-General_Concept
processor	I-General_Concept
)	O
can	O
be	O
separately	O
formatted	O
using	O
the	O
attributes	B-General_Concept
of	O
either	O
the	O
content	O
(	O
point	O
size	O
,	O
color	O
,	O
bold	O
or	O
italic	O
)	O
or	O
the	O
cell	O
(	O
border	O
thickness	O
,	O
background	O
shading	O
,	O
color	O
)	O
.	O
</s>
<s>
To	O
aid	O
the	O
readability	O
of	O
a	O
spreadsheet	B-Application
,	O
cell	O
formatting	O
may	O
be	O
conditionally	O
applied	O
to	O
data	O
;	O
for	O
example	O
,	O
a	O
negative	O
number	O
may	O
be	O
displayed	O
in	O
red	O
.	O
</s>
<s>
A	O
cell	O
's	O
formatting	O
does	O
not	O
typically	O
affect	O
its	O
content	O
and	O
depending	O
on	O
how	O
cells	B-General_Concept
are	O
referenced	O
or	O
copied	O
to	O
other	O
worksheets	O
or	O
applications	O
,	O
the	O
formatting	O
may	O
not	O
be	O
carried	O
with	O
the	O
content	O
.	O
</s>
<s>
In	O
most	O
implementations	O
,	O
a	O
cell	O
,	O
or	O
group	O
of	O
cells	B-General_Concept
in	O
a	O
column	O
or	O
row	O
,	O
can	O
be	O
"	O
named	O
"	O
enabling	O
the	O
user	O
to	O
refer	O
to	O
those	O
cells	B-General_Concept
by	O
a	O
name	O
rather	O
than	O
by	O
a	O
grid	O
reference	O
.	O
</s>
<s>
Names	O
must	O
be	O
unique	O
within	O
the	O
spreadsheet	B-Application
,	O
but	O
when	O
using	O
multiple	O
sheets	O
in	O
a	O
spreadsheet	B-Application
file	O
,	O
an	O
identically	O
named	O
cell	O
range	O
on	O
each	O
sheet	O
can	O
be	O
used	O
if	O
it	O
is	O
distinguished	O
by	O
adding	O
the	O
sheet	O
name	O
.	O
</s>
<s>
Another	O
reason	O
is	O
that	O
formulas	O
with	O
named	O
variables	O
are	O
readily	O
checked	O
against	O
the	O
algebra	O
they	O
are	O
intended	O
to	O
implement	O
(	O
they	O
resemble	O
Fortran	B-Application
expressions	O
)	O
.	O
</s>
<s>
The	O
use	O
of	O
named	O
variables	O
and	O
named	O
functions	O
also	O
makes	O
the	O
spreadsheet	B-Application
structure	O
more	O
transparent	O
.	O
</s>
<s>
Most	O
cell	O
references	O
indicate	O
another	O
cell	O
in	O
the	O
same	O
spreadsheet	B-Application
,	O
but	O
a	O
cell	O
reference	O
can	O
also	O
refer	O
to	O
a	O
cell	O
in	O
a	O
different	O
sheet	O
within	O
the	O
same	O
spreadsheet	B-Application
,	O
or	O
(	O
depending	O
on	O
the	O
implementation	O
)	O
to	O
a	O
cell	O
in	O
another	O
spreadsheet	B-Application
entirely	O
,	O
or	O
a	O
value	O
from	O
a	O
remote	O
application	B-Application
.	O
</s>
<s>
The	O
alternative	O
"	O
R1C1	O
"	O
reference	O
style	O
consists	O
of	O
the	O
letter	O
R	O
,	O
the	O
row	O
number	O
,	O
the	O
letter	O
C	O
,	O
and	O
the	O
column	O
number	O
;	O
relative	O
row	O
or	O
column	O
numbers	B-Operating_System
are	O
indicated	O
by	O
enclosing	O
the	O
number	O
in	O
square	O
brackets	O
.	O
</s>
<s>
Most	O
current	O
spreadsheets	B-Application
use	O
the	O
A1	O
style	O
,	O
some	O
providing	O
the	O
R1C1	O
style	O
as	O
a	O
compatibility	O
option	O
.	O
</s>
<s>
A	O
cell	O
on	O
a	O
different	O
sheet	O
of	O
the	O
same	O
spreadsheet	B-Application
is	O
usually	O
addressed	O
as	O
:	O
</s>
<s>
=	O
SHEET2	O
!	O
A1	O
(	O
that	O
is	O
;	O
the	O
first	O
cell	O
in	O
sheet	O
2	O
of	O
the	O
same	O
spreadsheet	B-Application
)	O
.	O
</s>
<s>
Some	O
spreadsheet	B-Application
implementations	O
in	O
Excel	B-Application
allow	O
cell	O
references	O
to	O
another	O
spreadsheet	B-Application
(	O
not	O
the	O
currently	O
open	O
and	O
active	O
file	O
)	O
on	O
the	O
same	O
computer	O
or	O
a	O
local	O
network	O
.	O
</s>
<s>
It	O
may	O
also	O
refer	O
to	O
a	O
cell	O
in	O
another	O
open	O
and	O
active	O
spreadsheet	B-Application
on	O
the	O
same	O
computer	O
or	O
network	O
that	O
is	O
defined	O
as	O
shareable	O
.	O
</s>
<s>
In	O
a	O
spreadsheet	B-Application
,	O
references	O
to	O
cells	B-General_Concept
automatically	O
update	O
when	O
new	O
rows	O
or	O
columns	O
are	O
inserted	O
or	O
deleted	O
.	O
</s>
<s>
These	O
techniques	O
,	O
after	O
many	O
spreadsheet	B-Application
recalculations	O
,	O
(	O
usually	O
)	O
converge	O
on	O
the	O
correct	O
values	O
for	O
those	O
cells	B-General_Concept
.	O
</s>
<s>
Likewise	O
,	O
instead	O
of	O
using	O
a	O
named	O
range	O
of	O
cells	B-General_Concept
,	O
a	O
range	O
reference	O
can	O
be	O
used	O
.	O
</s>
<s>
Reference	O
to	O
a	O
range	O
of	O
cells	B-General_Concept
is	O
typical	O
of	O
the	O
form	O
(	O
A1:A6	O
)	O
,	O
which	O
specifies	O
all	O
the	O
cells	B-General_Concept
in	O
the	O
range	O
A1	O
through	O
to	O
A6	O
.	O
</s>
<s>
A	O
formula	O
such	O
as	O
"	O
=	O
SUM( 	O
A1:A6	O
)	O
"	O
would	O
add	O
all	O
the	O
cells	B-General_Concept
specified	O
and	O
put	O
the	O
result	O
in	O
the	O
cell	O
containing	O
the	O
formula	O
itself	O
.	O
</s>
<s>
In	O
the	O
earliest	O
spreadsheets	B-Application
,	O
cells	B-General_Concept
were	O
a	O
simple	O
two-dimensional	O
grid	O
.	O
</s>
<s>
A	O
formula	O
assigns	O
values	O
to	O
a	O
cell	O
or	O
range	O
of	O
cells	B-General_Concept
,	O
and	O
typically	O
has	O
the	O
format	O
:	O
</s>
<s>
references	O
to	O
other	O
cells	B-General_Concept
,	O
such	O
as	O
,	O
e.g.	O
,	O
A1	O
for	O
a	O
single	O
cell	O
or	O
B1:B3	O
for	O
a	O
range	O
;	O
</s>
<s>
When	O
a	O
cell	O
contains	O
a	O
formula	O
,	O
it	O
often	O
contains	O
references	O
to	O
other	O
cells	B-General_Concept
.	O
</s>
<s>
If	O
that	O
cell	O
in	O
turn	O
references	O
other	O
cells	B-General_Concept
,	O
the	O
value	O
depends	O
on	O
the	O
values	O
of	O
those	O
.	O
</s>
<s>
The	O
available	O
options	O
for	O
valid	O
formulas	O
depend	O
on	O
the	O
particular	O
spreadsheet	B-Application
implementation	O
but	O
,	O
in	O
general	O
,	O
most	O
arithmetic	O
operations	O
and	O
quite	O
complex	O
nested	O
conditional	O
operations	O
can	O
be	O
performed	O
by	O
most	O
of	O
today	O
's	O
commercial	O
spreadsheets	B-Application
.	O
</s>
<s>
</s>
<s>
</s>
<s>
</s>
<s>
A	O
spreadsheet	B-Application
does	O
not	O
have	O
to	O
contain	O
any	O
formulas	O
at	O
all	O
,	O
in	O
which	O
case	O
it	O
could	O
be	O
considered	O
merely	O
a	O
collection	O
of	O
data	O
arranged	O
in	O
rows	O
and	O
columns	O
(	O
a	O
database	O
)	O
like	O
a	O
calendar	O
,	O
timetable	O
,	O
or	O
simple	O
list	O
.	O
</s>
<s>
Because	O
of	O
its	O
ease	O
of	O
use	O
,	O
formatting	O
,	O
and	O
hyperlinking	O
capabilities	O
,	O
many	O
spreadsheets	B-Application
are	O
used	O
solely	O
for	O
this	O
purpose	O
.	O
</s>
<s>
Spreadsheets	B-Application
usually	O
contain	O
several	O
supplied	O
functions	O
,	O
such	O
as	O
arithmetic	O
operations	O
(	O
for	O
example	O
,	O
summations	O
,	O
averages	O
,	O
and	O
so	O
forth	O
)	O
,	O
trigonometric	O
functions	O
,	O
statistical	O
functions	O
,	O
and	O
so	O
forth	O
.	O
</s>
<s>
In	O
Microsoft	B-Application
Excel	I-Application
,	O
these	O
functions	O
are	O
defined	O
using	O
Visual	B-Language
Basic	I-Language
for	I-Language
Applications	I-Language
in	O
the	O
supplied	O
Visual	O
Basic	O
editor	O
,	O
and	O
such	O
functions	O
are	O
automatically	O
accessible	O
on	O
the	O
worksheet	O
.	O
</s>
<s>
In	O
the	O
figure	O
,	O
the	O
name	O
sq	O
is	O
user-assigned	O
,	O
and	O
the	O
function	O
sq	O
is	O
introduced	O
using	O
the	O
Visual	O
Basic	O
editor	O
supplied	O
with	O
Excel	B-Application
.	O
</s>
<s>
Name	O
Manager	O
displays	O
the	O
spreadsheet	B-Application
definitions	O
of	O
named	O
variables	O
x	O
&	O
y	O
.	O
</s>
<s>
However	O
,	O
in	O
Microsoft	B-Application
Excel	I-Application
,	O
subroutines	O
can	O
write	O
values	O
or	O
text	O
found	O
within	O
the	O
subroutine	O
directly	O
to	O
the	O
spreadsheet	B-Application
.	O
</s>
<s>
The	O
y	O
column	O
contains	O
no	O
formula	O
because	O
its	O
values	O
are	O
calculated	O
in	O
the	O
subroutine	O
,	O
not	O
on	O
the	O
spreadsheet	B-Application
,	O
and	O
simply	O
are	O
written	O
in	O
.	O
</s>
<s>
Whenever	O
a	O
reference	O
is	O
made	O
to	O
a	O
cell	O
or	O
group	O
of	O
cells	B-General_Concept
that	O
are	O
not	O
located	O
within	O
the	O
current	O
physical	O
spreadsheet	B-Application
file	O
,	O
it	O
is	O
considered	O
as	O
accessing	O
a	O
"	O
remote	O
"	O
spreadsheet	B-Application
.	O
</s>
<s>
The	O
contents	O
of	O
the	O
referenced	O
cell	O
may	O
be	O
accessed	O
either	O
on	O
the	O
first	O
reference	O
with	O
a	O
manual	O
update	O
or	O
more	O
recently	O
in	O
the	O
case	O
of	O
web-based	B-Application
spreadsheets	B-Application
,	O
as	O
a	O
near	O
real-time	O
value	O
with	O
a	O
specified	O
automatic	O
refresh	O
interval	O
.	O
</s>
<s>
Many	O
spreadsheet	B-Application
applications	O
permit	O
charts	O
and	O
graphs	B-Application
(	O
e.g.	O
,	O
histograms	B-Algorithm
,	O
pie	B-Application
charts	I-Application
)	O
to	O
be	O
generated	O
from	O
specified	O
groups	O
of	O
cells	B-General_Concept
that	O
are	O
dynamically	O
re-built	O
as	O
cell	O
contents	O
change	O
.	O
</s>
<s>
To	O
create	O
an	O
Excel	B-Application
histogram	B-Algorithm
,	O
a	O
formula	O
based	O
on	O
the	O
REPT	O
function	O
can	O
be	O
used	O
.	O
</s>
<s>
In	O
the	O
late	O
1980s	O
and	O
early	O
1990s	O
,	O
first	O
Javelin	O
Software	O
and	O
Lotus	B-Device
Improv	I-Device
appeared	O
.	O
</s>
<s>
Unlike	O
models	O
in	O
a	O
conventional	O
spreadsheet	B-Application
,	O
they	O
utilized	O
models	O
built	O
on	O
objects	O
called	O
variables	O
,	O
not	O
on	O
data	O
in	O
cells	B-General_Concept
of	O
a	O
report	O
.	O
</s>
<s>
These	O
multi-dimensional	O
spreadsheets	B-Application
enabled	O
viewing	O
data	O
and	O
algorithms	O
in	O
various	O
self-documenting	O
ways	O
,	O
including	O
simultaneous	O
multiple	O
synchronized	O
views	O
.	O
</s>
<s>
In	O
these	O
programs	O
,	O
a	O
time	O
series	O
,	O
or	O
any	O
variable	O
,	O
was	O
an	O
object	O
in	O
itself	O
,	O
not	O
a	O
collection	O
of	O
cells	B-General_Concept
that	O
happen	O
to	O
appear	O
in	O
a	O
row	O
or	O
column	O
.	O
</s>
<s>
Variables	O
could	O
have	O
many	O
attributes	B-General_Concept
,	O
including	O
complete	O
awareness	O
of	O
their	O
connections	O
to	O
all	O
other	O
variables	O
,	O
data	O
references	O
,	O
and	O
text	O
and	O
image	O
notes	O
.	O
</s>
<s>
Calculations	O
were	O
performed	O
on	O
these	O
objects	O
,	O
as	O
opposed	O
to	O
a	O
range	O
of	O
cells	B-General_Concept
,	O
so	O
adding	O
two-time	O
series	O
automatically	O
aligns	O
them	O
in	O
calendar	O
time	O
,	O
or	O
in	O
a	O
user-defined	O
time	O
frame	O
.	O
</s>
<s>
This	O
permits	O
actions	O
later	O
used	O
in	O
pivot	B-Application
tables	I-Application
,	O
except	O
that	O
flexible	O
manipulation	O
of	O
report	O
tables	O
,	O
was	O
but	O
one	O
of	O
many	O
capabilities	O
supported	O
by	O
variables	O
.	O
</s>
<s>
Spreadsheets	B-Application
that	O
have	O
a	O
formula	O
language	O
based	O
upon	O
logical	O
expressions	O
,	O
rather	O
than	O
arithmetic	O
expressions	O
are	O
known	O
as	O
logical	B-Language
spreadsheets	I-Language
.	O
</s>
<s>
Such	O
spreadsheets	B-Application
can	O
be	O
used	O
to	O
reason	O
deductively	O
about	O
their	O
cell	O
values	O
.	O
</s>
<s>
Just	O
as	O
the	O
early	O
programming	O
languages	O
were	O
designed	O
to	O
generate	O
spreadsheet	B-Application
printouts	O
,	O
programming	O
techniques	O
themselves	O
have	O
evolved	O
to	O
process	O
tables	O
(	O
also	O
known	O
as	O
spreadsheets	B-Application
or	O
matrices	B-Architecture
)	O
of	O
data	O
more	O
efficiently	O
in	O
the	O
computer	O
itself	O
.	O
</s>
<s>
Spreadsheets	B-Application
are	O
a	O
popular	O
end-user	O
development	O
tool	O
.	O
</s>
<s>
EUD	O
denotes	O
activities	O
or	O
techniques	O
in	O
which	O
people	O
who	O
are	O
not	O
professional	O
developers	O
create	O
automated	O
behavior	O
and	O
complex	O
data	O
objects	O
without	O
significant	O
knowledge	O
of	O
a	B-Language
programming	I-Language
language	I-Language
.	O
</s>
<s>
Many	O
people	O
find	O
it	O
easier	O
to	O
perform	O
calculations	O
in	O
spreadsheets	B-Application
than	O
by	O
writing	O
the	O
equivalent	O
sequential	O
program	O
.	O
</s>
<s>
This	O
is	O
due	O
to	O
several	O
traits	O
of	O
spreadsheets	B-Application
.	O
</s>
<s>
Though	O
this	O
user-friendliness	O
is	O
benefit	O
of	O
spreadsheet	B-Application
development	O
,	O
it	O
often	O
comes	O
with	O
increased	O
risk	O
of	O
errors	O
.	O
</s>
<s>
Modern	O
spreadsheets	B-Application
allow	O
for	O
secondary	B-General_Concept
notation	I-General_Concept
.	O
</s>
<s>
Extensions	O
that	O
allow	O
users	O
to	O
create	O
new	O
functions	O
can	O
provide	O
the	O
capabilities	O
of	O
a	O
functional	B-Language
language	I-Language
.	O
</s>
<s>
Spreadsheets	B-Application
are	O
versatile	O
.	O
</s>
<s>
Spreadsheets	B-Application
can	O
store	O
relational	B-Architecture
data	I-Architecture
and	O
spreadsheet	B-Application
formulas	O
can	O
express	O
all	O
queries	O
of	O
SQL	B-Language
.	O
</s>
<s>
There	O
exists	O
a	O
query	O
translator	O
,	O
which	O
automatically	O
generates	O
the	O
spreadsheet	B-Application
implementation	O
from	O
the	O
SQL	B-Language
code	O
.	O
</s>
<s>
A	O
"	O
spreadsheet	B-Application
program	I-Application
"	O
is	O
designed	O
to	O
perform	O
general	O
computation	O
tasks	O
using	O
spatial	O
relationships	O
rather	O
than	O
time	O
as	O
the	O
primary	O
organizing	O
principle	O
.	O
</s>
<s>
It	O
is	O
often	O
convenient	O
to	O
think	O
of	O
a	O
spreadsheet	B-Application
as	O
a	O
mathematical	O
graph	O
,	O
where	O
the	O
nodes	O
are	O
spreadsheet	B-Application
cells	B-General_Concept
,	O
and	O
the	O
edges	O
are	O
references	O
to	O
other	O
cells	B-General_Concept
specified	O
in	O
formulas	O
.	O
</s>
<s>
This	O
is	O
often	O
called	O
the	O
dependency	O
graph	O
of	O
the	O
spreadsheet	B-Application
.	O
</s>
<s>
References	O
between	O
cells	B-General_Concept
can	O
take	O
advantage	O
of	O
spatial	O
concepts	O
such	O
as	O
relative	O
position	O
and	O
absolute	O
position	O
,	O
as	O
well	O
as	O
named	O
locations	O
,	O
to	O
make	O
the	O
spreadsheet	B-Application
formulas	O
easier	O
to	O
understand	O
and	O
manage	O
.	O
</s>
<s>
Spreadsheets	B-Application
usually	O
attempt	O
to	O
automatically	O
update	O
cells	B-General_Concept
when	O
the	O
cells	B-General_Concept
depend	O
on	O
change	O
.	O
</s>
<s>
The	O
earliest	O
spreadsheets	B-Application
used	O
simple	O
tactics	O
like	O
evaluating	O
cells	B-General_Concept
in	O
a	O
particular	O
order	O
,	O
but	O
modern	O
spreadsheets	B-Application
calculate	O
following	O
a	O
minimal	O
recomputation	O
order	O
from	O
the	O
dependency	O
graph	O
.	O
</s>
<s>
Later	O
spreadsheets	B-Application
also	O
include	O
a	O
limited	O
ability	O
to	O
propagate	O
values	O
in	O
reverse	O
,	O
altering	O
source	O
values	O
so	O
that	O
a	O
particular	O
answer	O
is	O
reached	O
in	O
a	O
certain	O
cell	O
.	O
</s>
<s>
Since	O
spreadsheet	B-Application
cell	O
formulas	O
are	O
not	O
generally	O
invertible	O
,	O
though	O
,	O
this	O
technique	O
is	O
of	O
somewhat	O
limited	O
value	O
.	O
</s>
<s>
Many	O
of	O
the	O
concepts	O
common	O
to	O
sequential	O
programming	O
models	O
have	O
analogs	O
in	O
the	O
spreadsheet	B-Application
world	O
.	O
</s>
<s>
For	O
example	O
,	O
the	O
sequential	O
model	O
of	O
the	O
indexed	B-Language
loop	I-Language
is	O
usually	O
represented	O
as	O
a	O
table	O
of	O
cells	B-General_Concept
,	O
with	O
similar	O
formulas	O
(	O
normally	O
differing	O
only	O
in	O
which	O
cells	B-General_Concept
they	O
reference	O
)	O
.	O
</s>
<s>
Spreadsheets	B-Application
have	O
evolved	O
to	O
use	O
scripting	B-Language
programming	I-Language
languages	I-Language
like	O
VBA	B-Language
as	O
a	O
tool	O
for	O
extensibility	O
beyond	O
what	O
the	O
spreadsheet	B-Application
language	O
makes	O
easy	O
.	O
</s>
<s>
While	O
spreadsheets	B-Application
represented	O
a	O
major	O
step	O
forward	O
in	O
quantitative	O
modeling	O
,	O
they	O
have	O
deficiencies	O
.	O
</s>
<s>
Research	O
by	O
ClusterSeven	O
has	O
shown	O
huge	O
discrepancies	O
in	O
the	O
way	O
financial	O
institutions	O
and	O
corporate	O
entities	O
understand	O
,	O
manage	O
and	O
police	O
their	O
often	O
vast	O
estates	O
of	O
spreadsheets	B-Application
and	O
unstructured	O
financial	O
data	O
(	O
including	O
comma-separated	O
values	O
(	O
CSV	O
)	O
files	O
and	O
Microsoft	O
Access	O
databases	O
)	O
.	O
</s>
<s>
One	O
study	O
in	O
early	O
2011	O
of	O
nearly	O
1,500	O
people	O
in	O
the	O
UK	O
found	O
that	O
57%	O
of	O
spreadsheet	B-Application
users	O
have	O
never	O
received	O
formal	O
training	O
on	O
the	O
spreadsheet	B-Application
package	O
they	O
use	O
.	O
</s>
<s>
72%	O
said	O
that	O
no	O
internal	O
department	O
checks	O
their	O
spreadsheets	B-Application
for	O
accuracy	O
.	O
</s>
<s>
Only	O
13%	O
said	O
that	O
Internal	O
Audit	O
reviews	O
their	O
spreadsheets	B-Application
,	O
while	O
a	O
mere	O
1%	O
receive	O
checks	O
from	O
their	O
risk	O
department	O
.	O
</s>
<s>
Spreadsheets	B-Application
can	O
have	O
reliability	O
problems	O
.	O
</s>
<s>
Research	O
studies	O
estimate	O
that	O
around	O
1%	O
of	O
all	O
formulas	O
in	O
operational	O
spreadsheets	B-Application
are	O
in	O
error	O
.	O
</s>
<s>
Despite	O
the	O
high	O
error	O
risks	O
often	O
associated	O
with	O
spreadsheet	B-Application
authorship	O
and	O
use	O
,	O
specific	O
steps	O
can	O
be	O
taken	O
to	O
significantly	O
enhance	O
control	O
and	O
reliability	O
by	O
structurally	O
reducing	O
the	O
likelihood	O
of	O
error	O
occurrence	O
at	O
their	O
source	O
.	O
</s>
<s>
The	O
practical	O
expressiveness	O
of	O
spreadsheets	B-Application
can	O
be	O
limited	O
unless	O
their	O
modern	O
features	O
are	O
used	O
.	O
</s>
<s>
Graphs	B-Application
can	O
be	O
used	O
to	O
show	O
instantly	O
how	O
results	O
are	O
changed	O
by	O
changes	O
in	O
parameter	O
values	O
.	O
</s>
<s>
The	O
spreadsheet	B-Application
can	O
be	O
made	O
invisible	O
except	O
for	O
a	O
transparent	O
user	O
interface	O
that	O
requests	O
pertinent	O
input	O
from	O
the	O
user	O
,	O
displays	O
results	O
requested	O
by	O
the	O
user	O
,	O
creates	O
reports	O
,	O
and	O
has	O
built-in	O
error	O
traps	O
to	O
prompt	O
correct	O
input	O
.	O
</s>
<s>
Research	O
shows	O
that	O
spreadsheet	B-Application
auditors	O
who	O
check	O
numerical	O
results	O
and	O
cell	O
formulas	O
find	O
no	O
more	O
errors	O
than	O
auditors	O
who	O
only	O
check	O
numerical	O
results	O
.	O
</s>
<s>
Specifically	O
,	O
spreadsheets	B-Application
typically	O
contain	O
many	O
copies	O
of	O
the	O
same	O
formula	O
.	O
</s>
<s>
In	O
the	O
process	O
,	O
it	O
is	O
often	O
necessary	O
to	O
move	O
other	O
cells	B-General_Concept
around	O
to	O
make	O
room	O
for	O
the	O
new	O
columns	O
or	O
rows	O
and	O
to	O
adjust	O
graph	O
data	O
sources	O
.	O
</s>
<s>
In	O
large	O
spreadsheets	B-Application
,	O
this	O
can	O
be	O
extremely	O
time-consuming	O
.	O
</s>
<s>
The	O
spreadsheet	B-Application
as	O
a	O
paradigm	O
forces	O
one	O
to	O
decide	O
on	O
dimensionality	O
right	O
of	O
the	O
beginning	O
of	O
one	O
's	O
spreadsheet	B-Application
creation	O
,	O
even	O
though	O
it	O
is	O
often	O
most	O
natural	O
to	O
make	O
these	O
choices	O
after	O
one	O
's	O
spreadsheet	B-Application
model	O
has	O
matured	O
.	O
</s>
<s>
Collaboration	O
in	O
authoring	O
spreadsheet	B-Application
formulas	O
can	O
be	O
difficult	O
when	O
such	O
collaboration	O
occurs	O
at	O
the	O
level	O
of	O
cells	B-General_Concept
and	O
cell	O
addresses	O
.	O
</s>
<s>
Other	O
problems	O
associated	O
with	O
spreadsheets	B-Application
include	O
:	O
</s>
<s>
Many	O
spreadsheet	B-Application
software	I-Application
products	O
,	O
such	O
as	O
Microsoft	B-Application
Excel	I-Application
(	O
versions	O
prior	O
to	O
2007	O
)	O
and	O
OpenOffice.org	B-Application
Calc	I-Application
(	O
versions	O
prior	O
to	O
2008	O
)	O
,	O
have	O
a	O
capacity	O
limit	O
of	O
65,536	O
rows	O
by	O
256	O
columns	O
(	O
216	O
and	O
28	O
respectively	O
)	O
.	O
</s>
<s>
Lack	O
of	O
auditing	O
and	O
revision	B-Architecture
control	I-Architecture
.	O
</s>
<s>
Lack	O
of	O
revision	B-Architecture
control	I-Architecture
greatly	O
increases	O
the	O
risk	O
of	O
errors	O
due	O
to	O
the	O
inability	O
to	O
track	O
,	O
isolate	O
and	O
test	O
changes	O
made	O
to	O
a	O
document	O
.	O
</s>
<s>
Spreadsheets	B-Application
lack	O
controls	O
on	O
who	O
can	O
see	O
and	O
modify	O
particular	O
data	O
.	O
</s>
<s>
Because	O
they	O
are	O
loosely	O
structured	O
,	O
it	O
is	O
easy	O
for	O
someone	O
to	O
introduce	O
an	O
error	O
,	O
either	O
accidentally	O
or	O
intentionally	O
,	O
by	O
entering	O
information	O
in	O
the	O
wrong	O
place	O
or	O
expressing	O
dependencies	O
among	O
cells	B-General_Concept
(	O
such	O
as	O
in	O
a	O
formula	O
)	O
incorrectly	O
.	O
</s>
<s>
The	O
results	O
of	O
a	O
formula	O
(	O
example	O
"	O
=	O
A1*B1	O
"	O
)	O
applies	O
only	O
to	O
a	O
single	O
cell	O
(	O
that	O
is	O
,	O
the	O
cell	O
the	O
formula	O
is	O
located	O
in	O
—	O
in	O
this	O
case	O
perhaps	O
C1	O
)	O
,	O
even	O
though	O
it	O
can	O
"	O
extract	O
"	O
data	O
from	O
many	O
other	O
cells	B-General_Concept
,	O
and	O
even	O
real-time	O
dates	O
and	O
actual	O
times	O
.	O
</s>
<s>
This	O
means	O
that	O
to	O
cause	O
a	O
similar	O
calculation	O
on	O
an	O
array	O
of	O
cells	B-General_Concept
,	O
an	O
almost	O
identical	O
formula	O
(	O
but	O
residing	O
in	O
its	O
own	O
"	O
output	O
"	O
cell	O
)	O
must	O
be	O
repeated	O
for	O
each	O
row	O
of	O
the	O
"	O
input	O
"	O
array	O
.	O
</s>
<s>
This	O
differs	O
from	O
a	O
"	O
formula	O
"	O
in	O
a	O
conventional	O
computer	B-Application
program	I-Application
,	O
which	O
typically	O
makes	O
one	O
calculation	O
that	O
it	O
applies	O
to	O
all	O
the	O
input	O
in	O
turn	O
.	O
</s>
<s>
With	O
current	O
spreadsheets	B-Application
,	O
this	O
forced	O
repetition	O
of	O
near-identical	O
formulas	O
can	O
have	O
detrimental	O
consequences	O
from	O
a	O
quality	O
assurance	O
standpoint	O
and	O
is	O
often	O
the	O
cause	O
of	O
many	O
spreadsheet	B-Application
errors	O
.	O
</s>
<s>
Some	O
spreadsheets	B-Application
have	O
array	O
formulas	O
to	O
address	O
this	O
issue	O
.	O
</s>
<s>
Trying	O
to	O
manage	O
the	O
sheer	O
volume	O
of	O
spreadsheets	B-Application
that	O
may	O
exist	O
in	O
an	O
organization	O
without	O
proper	O
security	O
,	O
audit	O
trails	O
,	O
the	O
unintentional	O
introduction	O
of	O
errors	O
,	O
and	O
other	O
items	O
listed	O
above	O
can	O
become	O
overwhelming	O
.	O
</s>
<s>
While	O
there	O
are	O
built-in	O
and	O
third-party	O
tools	O
for	O
desktop	O
spreadsheet	B-Application
applications	O
that	O
address	O
some	O
of	O
these	O
shortcomings	O
,	O
awareness	O
,	O
and	O
use	O
of	O
these	O
is	O
generally	O
low	O
.	O
</s>
<s>
Spreadsheet	B-Application
risk	O
is	O
the	O
risk	O
associated	O
with	O
deriving	O
a	O
materially	O
incorrect	O
value	O
from	O
a	O
spreadsheet	B-Application
application	B-Application
that	O
will	O
be	O
utilized	O
in	O
making	O
a	O
related	O
(	O
usually	O
numerically	O
based	O
)	O
decision	O
.	O
</s>
<s>
The	O
risk	O
may	O
arise	O
from	O
inputting	O
erroneous	O
or	O
fraudulent	O
data	O
values	O
,	O
from	O
mistakes	O
(	O
or	O
incorrect	O
changes	O
)	O
within	O
the	O
logic	O
of	O
the	O
spreadsheet	B-Application
or	O
the	O
omission	O
of	O
relevant	O
updates	O
(	O
e.g.	O
,	O
out	O
of	O
date	O
exchange	O
rates	O
)	O
.	O
</s>
<s>
Because	O
spreadsheet	B-Application
risk	O
is	O
principally	O
linked	O
to	O
the	O
actions	O
(	O
or	O
inaction	O
)	O
of	O
individuals	O
it	O
is	O
defined	O
as	O
a	O
sub-category	O
of	O
operational	O
risk	O
.	O
</s>
<s>
Despite	O
this	O
,	O
research	O
carried	O
out	O
by	O
ClusterSeven	O
revealed	O
that	O
around	O
half	O
(	O
48%	O
)	O
of	O
c-level	O
executives	O
and	O
senior	O
managers	O
at	O
firms	O
reporting	O
annual	O
revenues	O
over	O
£50m	O
said	O
there	O
were	O
either	O
no	O
usage	O
controls	O
at	O
all	O
or	O
poorly	O
applied	O
manual	O
processes	O
over	O
the	O
use	O
of	O
spreadsheets	B-Application
at	O
the	O
firms	O
.	O
</s>
<s>
In	O
2013	O
Thomas	O
Herndon	O
,	O
a	O
graduate	O
student	O
of	O
economics	O
at	O
the	O
University	O
of	O
Massachusetts	O
Amherst	O
found	O
major	O
coding	O
flaws	O
in	O
the	O
spreadsheet	B-Application
used	O
by	O
the	O
economists	O
Carmen	O
Reinhart	O
and	O
Kenneth	O
Rogoff	O
in	O
Growth	O
in	O
a	O
Time	O
of	O
Debt	O
,	O
a	O
very	O
influential	O
2010	O
journal	O
article	O
.	O
</s>
