Options available to convert spreadsheetsThere are 3 options available to do this:Option 1: Recoding the system into another languageThis requires a full system build to replicate the underlying logic in the spreadsheet. This will require the developer to work alongside the model builder to explain the spreadsheet logic and check the results.+ Internal developer team can do it without requiring external systems– Cost is prohibitive (developer and pricing expertise required)– large volumes of models to convert which takes too much time– modelling errors are common– resources are unavailable– systems are hard and expensive to update when models changeOption 2: Use an existing commercial pricing platform to recode the spreadsheetThere are a number of software platforms that provide standard tools to help developers create pricing systems. These often have their own internal language and structures to reduce the time taken for the build, with experts on these systems needed to create and maintain the pricing system.+ commercial pricing platforms have tools that reduce the time required to recode the spreadsheet+ these tools have methods of checking for errors– Recoding spreadsheets remains difficult in these systems– The cost of the platform can be high– identifying developers who know the pricing system can be trickier than finding standard developersOption 3: Use an Excel converterAn Excel converter is new technology that allows the user to upload an Excel model and instantly convert it into a hosted system. This reduces the cost of the build and removes the need for developer involvement except for the integration to the core system.+ there is a significant reduction in the conversion time required per model (minutes rather than months per model)+ updates to the models can be done in Excel and automatically update in the system+ testing and debugging can be done against the spreadsheet while the Excel developer continues to maintain their own models– Integrating with other systems can be cumbersome as some Excel converters don’t work with all Excel models– There may be a system requirement to design screens for data inputs if not provided by the tool
Get rid of the cr…p and do something Cool!
Read the valuable insights offered by Buster Tolfree the Commercial Director – Mortgages at a Tip-Talks event co-sponsored by United Trust Bank and Optalitix.
The Magic of AI
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Next Generation of AI Described as “Too Dangerous to Release” – Now Released
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Concerns Rise Over AI Racial Bias as Facial Recognition “Predicts Criminality”
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How Is AI Helping to Fight the Impacts of COVID-19?
AI and machine learning have become key tools in helping to tackle the pandemic, not just in understanding the virus but also how to support different industries.
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Whilst AI has transformed many essential areas of society, some have also begun to use its technology for the weirder. Take a look at some odd uses of AI here.