Is Access the right tool?

[WLHagen]

I am a financial analyst at a small, local financial institution and responsible for tracking LOTS of data on a monthly/quarterly/annual basis for the executive team. This data involves deposit accounts (checking accounts, savings accounts, certificates, etc) and loan accounts (car loans, mortgages, personal loans, equity loans, etc) both in the "new accounts" and "existing accounts". I get files every month with information on both existing accounts (balance, opening date, interest rate, next due date for payment, maturity date for certificate etc) and new accounts opened in the previous business month (open date, opening amount, who opened it at what branch, etc). I report to my superiors information such as "number of new loans written last month by loan officer and branch", "amount of new loans by Loan officer and branch", "amount of new deposit accounts by type and branch and opening balance", as well as from our exisiting portfolio - delinquent loans by type of loans, days of delinquency, branch of loan, etc.

The "existing accounts"data is fairly similar on a month-to-month basis (think of your own checking account and/or loan - your account number, the date you opened it and the interest rate is the same every month, but the ending balance and next due date on your loan would change).
I've been manipulating this data in Excel for a long time, mostly because "that's what I know". However, now I've taken a few Access courses, and am wondering if I'm using the right tool for the job. The class used the "Northwind Traders" Access database for the class, and I really like the way the data is presented (Interactive graphs and tables). I'm wondering if perhaps Access is the "right tool".

HOWEVER, my institution doesn't have licenses for Access, and I don't want to have them purchase a license for the institution (we are <$300MM in assets and <100 employees) - only to find out that the "right tool for the job" was Excel all along. Therefore, I'm coming to my experts here @ Mr Excel to ask....

1. Do you think Excel is the "right tool for the job"?
2. If you think Access is the "right tool for the job" - and I start building this in Open Office, is there a huge "conversion difference" with converting the file from Open Office to MS Access?
3. If Open Office/Access is the 'right tool' - would you suggest different tables for each month's loan/deposit information, or would you just have one large table - just appending the month end date of the file as a field in each record each month to be able to do calculations?

 

[bkelly]

Just to be sure: The entry fee for creating a database is far higher than for an spread sheet. The reason is that the toolset of the database is much richer. Said another way: It much more complex. If you have taken courses or read books, then you must know that by know. As was noted earlier, by nature, it is more difficult to maintain than a spreadsheet.

Hint: Figure out your budget for creating your database. Possibly in time: hours, days, etc. Then spend half your budget designing the database before creating tables, forms, and writing any code. Lay out some dummy forms and get them reviewed by some of the people that will actually use them.

A slightly different slant on the question. Is your data set more about numbers and their values, or more about information and pieces of information that must go together in a certain order to become the whole? That is the difference between spreadsheets and databases.


Learning Access is a rich journey that I have just started myself.

Edit

Access is generally great at what you are describing ... but takes a lot more careful design up front, which could be days, weeks, or months depending on your skill and how much time you have to build a reporting database. It's also not as easy to dump on someone else since many people know nothing about Access. If this is intended for other users or might need to be transitioned to someone else, it has to be even more carefully designed so that employees not skilled in Access can still use it (via forms and menus).

I am certain you read Zenou's post, but please read it again. It definitely merits a quote and reference. Any database requires much more planning than a spreadsheet. Again, because it is much more complex, but much more powerful.

Do you have MS Office? Access comes with Office.

 

[WLHagen]

Thanks, Bryan - I really appreciate all the thought that has gone in to the answers I've gotten here.

I have MS Office at my work , but Access did not come with it (I bought the MS Student edition for home use, and it also did not come with Access).

As I posted earlier, I took a few Access classes, and admittedly, I'm the Excel expert at my office - and I can barely do Pivot Tables and macros! Yet, I'm intrigued to learn what Access has to offer - and I have a great support group here @ MrExcel!

In a nutshell, I'm looking to create a DB similar in structure to the "Northwinds Traders" sample database that comes with the MSAccess program. It will probably be split eventually to a "front end" and "back end" type DB, so that the Executives in my office can look at the information they want, when they want (similar to that "Home page" that is interactive, of sorts.

ANYway, thanks again for reinforcing my decision!