--- title: 2 out of 3 Companies Use Spreadsheets for Commodity Analytics [New Research] description: Results from a recent poll of commodity executives show the pressing need for a new breed of commodity analytics solutions. image: http://info.ekaplus.com/hubfs/spreadsheets-poll-results.png --- [![Eka - Power of One](https://blog.eka1.com/hs-fs/hubfs/Logo-On-White-RGB.png?width=9601&height=5401&name=Logo-On-White-RGB.png "Eka - Power of One")](http://ekaplus.com) - [PLATFORM](https://www.ekaplus.com/platform/) - SOLUTIONS - [CTRM & ETRM](https://www.ekaplus.com/solutions/trading-and-risk-management/) - [Commodity Analytics](https://www.ekaplus.com/solutions/commodity-analytics/) - Supply Chain & Ops - [Eka CSM](https://www.ekaplus.com/solutions/eka-commodity-site-manager/) - [Eka Control Systems](https://www.ekaplus.com/solutions/eka-control-systems) - [Eka QMS](https://www.ekaplus.com/solutions/eka-quality-management-system) - Collaboration - [Eka Connect](https://www.ekaplus.com/solutions/eka-connect) - [Farmer Connect](https://www.ekaplus.com/app/farmer-connect/) - [Supplier Connect](https://www.ekaplus.com/app/supplier-connect/) - [Customer Connect](https://www.ekaplus.com/app/customer-connect/) - Digital Transformation - [Eka AI](https://www.ekaplus.com/app/customer-connect/) - [Eka Blockchain](https://www.ekaplus.com/solutions/eka-blockchain/) - [Eka Source](https://www.ekaplus.com/solutions/eka-source) - [Eka App Store](https://www.ekaplus.com/solutions/eka-app-store) - INDUSTRIES - [Agriculture](https://www.ekaplus.com/agriculture/) - [Metals & Mining](https://www.ekaplus.com/metals-and-mining/) - [Energy](https://www.ekaplus.com/energy) - [Crude Oil & Refined](https://www.ekaplus.com/energy/crude-and-refined/) - [Natural Gas & LNG](https://www.ekaplus.com/energy/natural-gas-lng/) - [Power](https://www.ekaplus.com/energy/power/) - [Manufacturing](https://www.ekaplus.com/manufacturing/) - [CUSTOMERS](https://www.ekaplus.com/customer-directory/) - [COMPANY](https://www.ekaplus.com/company) - [RESOURCES](https://www.ekaplus.com/resource-center/) - [News](https://www.ekaplus.com/news/) - [Blog](http://blog.ekaplus.com/blog) - [Events](https://www.ekaplus.com/event-center/) - [App Sheets](https://www.ekaplus.com/appsheets/) - [Brochures](https://www.ekaplus.com/brochures/) - [Case Studies](https://www.ekaplus.com/casestudies/) - [Whitepapers](https://www.ekaplus.com/whitepapers/) - [Webinars](https://www.ekaplus.com/webinars/) - [PLANS](https://www.ekaplus.com/plans/) - [Contact](https://www.ekaplus.com/contact/) - [GET STARTED](https://www.ekaplus.com/get-started/) - [GET STARTED](https://www.ekaplus.com/get-started/) [EKA](http://ekaplus.com/) > 2 out of 3 Companies Use Spreadsheets for Commodity Analytics \[New Research\] April 29, 2016 # 2 out of 3 Companies Use Spreadsheets for Commodity Analytics \[New Research\] [![](http://info.ekaplus.com/hubfs/spreadsheets-poll-results.png)](https://blog.eka1.com/blog/two-out-of-three-commodities-companies-use-spreadsheets-for-commodity-analytics) ![Commodity Analytics](http://info.ekaplus.com/hubfs/spreadsheets-poll-results.png "Commodity Analytics") Eka recently polled 50 executives at commodities companies in the agriculture, chemicals, oil, natural gas, and power industries asking the research question “What system/tool do you mainly use for commodity data analysis?” The results show the pressing need for a new breed of analytics solutions. - 66% use spreadsheets - 12% use BI/analytics tools - 12% use CTRM/ETRM software - 6% use ERP - 4% use other tools ## Spreadsheets Not Built for Purpose Companies exposed to commodity risk continue to rely on spreadsheets for data analysis. We believe this is not due to a lack of recognition of the value of advanced analytics, but rather that the available options are less than ideal. Michael Schwartz, EVP & CMO at Eka, made the observation that, “It is not surprising that our survey reveals only 12% of commodities companies are using corporate BI tools for analysis, since generic BI tools do not fit the needs of commodities companies. Likewise, because CTRM and [ETRM software](https://www.ekaplus.com/etrm-software) was designed to manage commodity transactions, not analytics, the low use rate reflects its poor suitability to provide data blending and advanced analytics.” In a previous post, “*[4 Reasons to Give Up Spreadsheets for CTRM Software](http://blog.ekaplus.com/blog/4-reasons-to-give-up-spreadsheets-for-ctrm-software)*,” we described why spreadsheets are no longer an adequate solution for running a trading operation. Spreadsheets have no means to formally link deals with their costs in a timely manner, and offer very limited capability for accurate reconciliations and tracking of trends. They do not offer real-time responsiveness or enterprise-wide visibility, or support comprehensive risk mitigation, reporting, and audit requirements. CTRM and ETRM systems have helped to solve some of these challenges, however they do not provide all the analytics and decision support tools needed by commodities companies today.  ## Next-Generation Commodity Analytics Companies need advanced analytics solutions built specifically for commodities businesses, and Eka’s solution brings commodity specific analytics to all business users – the right data, in the right hands, at the right time. Eka's [Commodity Analytics Cloud](https://www.ekaplus.com/analytics/commodity-analytics-cloud-overview.aspx) solution delivers industry-specific apps that cover P&L, procurement, risk, and supply chain. Harnessing data from both internal and external sources, Commodity Analytics Cloud brings all the data needed together in one place to answer the most important questions for commodities companies. 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