Question

Explain the difference between static data consolidation and dynamic data consolidation as it relates to multiple workbooks or worksheets. Provide an example of each type that you would use in a career that relates to your field of study. Be specific as to why you would use each type in each example.

Answer 1

Static Data Consolidation

Dynamic Data Consolidation

In Static consolidation, data from multiple worksheets/workbooks are consolidated. And when we make changes to the original data, the consolidated data doesnot reflect the change. In this, there are no links/formulas between these worksheets or workbooks. Example : An accountant tries to combine his multiple workbooks into a single one which contains payments of different months. But changing one month's record shouldnot affect the other records. So he uses "Static consolidation"

In Dynamic consolidation, data from multiple worksheets/workbooks are consolidated. And when we make changes to the original data, the consolidated data does reflect the change. In this, there are links/formulas between these worksheets or workbooks which makes the update in the consolidated data. Example : An analyst tries to combine his multiple workbooks into a single one which contains duplicate records of a record. So, when he tries to update one record, the updation will be reflected in other records as well. So he uses "dynamic consolidation".