The course is presented in four parts.

First, the course introduces a business case of a “system updating” model that unintentionally includes all the hurdles to prevent fast update from the financial system. The model takes a staff 3+ hour to update the Excel reports for just 1 round of changes from the system, and what’s worse, system changes are twice or three times per day! So how to design the system updating model so that we can get “instant” updates from the system to the final presentation!

Second, the course will demonstrate how the author has overhauled the old model so that it:

  • Reduces the system updating time from 2 hours to 1 min, and
  • Reduces the presentation updating time from 1 hour to 2 minutes!

Third, the course explains 4 ways of reporting from a Financial System, but focuses on last 2 of them:

  • Extract “reports” from the System
  • Extract “data” from the System

Finally, we demonstrate the 6 Do's and Don’ts in building system-updating and presentation-updating models. Some of the best practices are:

  • Do NOT extract “individual report” from the system, opening the can of worms of huge manual work. Rather, DO extract the complete “data” from the system for automated reporting
  • Do NOT copy/paste source data into the reporting file
  • Do NOT cleanse data manually before calculation
  • Do NOT manually key in entity name to generate report

 

Course Key Concepts: Data extract, Drop-down list, Pivot table, Slicer, Paste Link.

Learning Objectives
  • Identify 4 ways of reporting out of a financial system.
  • Discover and understand when and how to cleanse data during extracting data.
  • Recognize the pros and cons of extracting tables or extracting data from a financial system.
  • Identify 4 best practices of building an “update” model based on financial system.
  • Discover 2 best practices of building a dynamic “presentation” model based on source Excel file.
Last updated/reviewed: August 10, 2023
4 Reviews (42 ratings)

Reviews

4
Anonymous Author
Very informative and it continues from the previous course I have taken by the instructor. I do like how he makes you click on the next section to learn more

5
Anonymous Author
Lenny makes me want to put everything he talks about into practice. I'm excited to see how this course will help me in my daily work.

5
Anonymous Author
Great way to bridge the gap and increase speed and accuracy for Powerpoint presentations.

5
Anonymous Author
Great ideas on how to automate reporting for multiple entities from one source o data.

Prerequisites
Course Complexity: Intermediate

Basic Excel and Power Query knowledge.
Example: be able to open one Excel file and connect to external data files, etc.
Prerequisite: Power Query: Ultimate Data Transformation
It is recommended to take other Excel Model Makeover courses by Lenny Wu.
Excel Model Makeover: Reducing Prep Time from 1 Hour to 1 Minute
Excel Model Makeover 2: Reducing Data Entry from 2 Hours to 2 Minutes

Education Provider Information
Company: Illumeo, Inc., 75 East Santa Clara St., Suite 1215, San Jose, CA 95113
Contact: For more information regarding this course, including complaint and cancellation policies, please contact our offices at (408) 400- 3993 or send an e-mail to .
Instructor for this course
Course Syllabus
INTRODUCTION AND OVERVIEW
  Introduction to Excel Model Makeover 3: Reducing Update Time from 3 Hours to 3 Minutes0:37
  Real Business Case: How to Report from the System?1:54
  Before and After of the Makeover1:26
  Instructor Introduction 1:12
  Comparison with Other Similar Courses 1:18
  What you will get from this course?0:40
How to Report from a Financial System?
  First 2 ways of Reporting from a Financial System1:34
  Extracted Report from the System6:23
  Extracted Data from the System6:51
  Reporting from Financial System Wrap-up0:22
System Reporting: 4 Best Practices
  Best Practice No. 11:36
  Best Practice No. 21:27
  Best Practice No. 32:38
  Best Practice No. 41:48
PowerPoint update: 2 Best Practices
  Best Practice No. 5 6:19
  Best Practice No. 62:53
  Before and After of the Makeover - A Revisit2:29
BONUS VBA
  VBA Macro5:37
CONCLUSION
  Takeaways 1:32
  Next Course & Q&A0:29
CONTINUOUS PLAY
  Excel Model Makeover 3: Reducing Update Time from 3 Hours to 3 Minutes49:04
SUPPORTING MATERIAL
  Slides: Excel Model Makeover 3: Reducing Update Time from 3 Hours to 3 MinutesPDF
  Excel Model Makeover 3: Reducing Update Time from 3 Hours to 3 Minutes Glossary/ IndexPDF
  Workbook: Excel Model Makeover 3: Reducing Update Time from 3 Hours to 3 MinutesXLSM
  Workbook: Detailed Statement ExtractCSV
REVIEW AND TEST
  REVIEW QUESTIONSquiz
 FINAL EXAMexam