Excel Toronto Meetup - Monte Carlo Methods in Python in Excel - George Mount
Session recorded live on Sept 18
The MS Excel Toronto Meetup group was founded in May 2019 and has had monthly sessions since then. Sessions are currently offered for free online, with a different topic presented by an Excel Expert each month. Members are from all over the world, totaling more than 4,300.
ATTEND THE MS EXCEL TORONTO MEETUP GROUP SESSIONS LIVE 👇
Register for free as a member of the group: https://www.meetup.com/MSExcelToronto
ACCESS THE EXERCISE FILES shared by the presenter are available to the group members on the Meetup website 👇
Access the discussions pane. The exercise files are also sent by email to the members who register to attend the session.
The MS Excel Toronto Meetup group sessions are organized and run by
Celia Alves - / celiajordaoalves
Gráinne Dugan - / grainneduggan1
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About this session:
Monte Carlo methods are powerful statistical techniques used to model and simulate the probability of different outcomes in complex processes. They are invaluable in business for risk assessment, financial modeling, and decision-making under uncertainty.
In this session, we will explore how Python in Excel is a game-changer for Monte Carlo methods. Python's robust libraries and Excel's widespread accessibility create a dynamic duo for performing sophisticated analyses without the need for expensive software.
We'll start by demonstrating how to generate synthetic data using the Faker package, providing a foundation for our simulations. Then, we'll leverage packages like NumPy and Matplotlib to build and visualize real-world business simulations. Whether you’re assessing project risks or predicting market trends, this webinar will equip you with practical skills to enhance your analytical toolkit.
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About the Speaker: George Mount
George Mount is the founder and Stringfest Analytics, where he focuses on Excel training and consulting for analytics. He is the author of Advancing into Analytics: From Excel to Python and R (O’Reilly Media, 2021) and Modern Data Analytics in Excel: Using Power Query, Power Pivot and More for Enhanced Data Analytics (O’Reilly Media, 2024). George is also a recipient of the Microsoft Most Valuable Professional (MVP) award for exceptional technical expertise and community advocacy in the field of Excel.
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Find more about George Mount work and connect with him:
Website: https://stringfestanalytics.com/
LinkedIn: Linkedin.com/in/gjmount
Twitter: https://x.com/gjmount
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Timestamps
00:00:00 - Celia Alves MS Excel Toronto news and upcoming events
00:10:25 - Celia Introduces George Mount
00:13:30 - George Mount introduces himself and the presentation
00:19:35 - Visualizations in Copilot such as scatter plots
00:31:00 - Generating synthetic data with Faker and using seeds
00:50:40 - Simulating profit distribution & sales trends with Monte Carlo simulations
01:06:00 - Questions
01:23:00 - Wrap up