The problem is that those who are developing complex Excel models are not necessarily taking into account the need for solid design, rigorous testing and model validation. The quant generally building an Excel model is generally thinking "how can I get this model built and running as quickly as possible?" Whereas, a software developer who is used to bugs, and the negative impact they cause, might take a more guarded and gradual pace - with the realization of the importance of testing.
Neither Excel nor the quants that use it in a fast, ad-hoc basis are going away. And so I believe the solution involves application of good design, QA and validation to the Excel modeling process.
The problem is that those who are developing complex Excel models are not necessarily taking into account the need for solid design, rigorous testing and model validation. The quant generally building an Excel model is generally thinking "how can I get this model built and running as quickly as possible?" Whereas, a software developer who is used to bugs, and the negative impact they cause, might take a more guarded and gradual pace - with the realization of the importance of testing.
Neither Excel nor the quants that use it in a fast, ad-hoc basis are going away. And so I believe the solution involves application of good design, QA and validation to the Excel modeling process.