When there are multiple transactions, activities processed by large firms, it gets difficult for them to check the accuracy and quality of those data sets because it is almost impossible to monitor each transactions/activity when it comes to large data sets. Hence Data analyst uses the method of Random Sampling and they pick few data samples as per their policy and perform the audits for them.
This helps the business to know the direction and gives the inferences about the population/data sets however Random sampling should be done by automated software or it should be logical as random sampling can be biased because of the human behavior.
So Excelsirji is going to help you with this free automated utility which is easy to download on any Windows based system
What is Random Row Selector Tool?
Random Row Selector is an MS Excel based tool which can be used to pick random or stratified samples from a set of records available in the Excel.
The tool support following features:
- It supports Random and Stratified Sampling
- The tool is fully dynamic, it can support any data format in Excel
- The codes are written to provided fast results within minimum time
- Samples are marked and filtered for easy identification
What is Random Sampling?
Random sampling is a method to pick certain number of records from a population of records randomly. For example, a teacher picks 4 students randomly from a class of 20 students.
What is Stratified Sampling?
Stratified sampling is a method to pick certain number of records from each population sub-group randomly. You must be able to categorize the population in one or more stratification or classification. For example, a teacher picks 2 girls and 2 boys randomly from a class of 20 students. Here gender is the stratification method.
Why Sampling is Important?
In the modern business, there are millions of transactions processed every day. To ensure the accuracy of the transactions, each business picks few transactions and audit them as per defined checklist or audit parameters. Picking the right samples is also a big task, you must follow basic rules to pick the samples:
- The samples must not be biased. For example, picking samples of a specific agent or country and not including other agents or countries in the samples
- Samples should be picked randomly and not in a specific order. For example, picking samples of a specific date instead of picking from entire month
- Samples should be picked with a defined rule so that it represents entire population
How Random Rows Selector Tool helps you?
This tool helps to mitigate all the issue which may occur if you manually pick the samples. And the best part is, it is truly random. Just try to use the tool and we are sure that you would love it for its simplicity and high performance.
How to use this tool:
Step 2: Unzip the file and open
Step 3: Paste your data from which you want to pick the samples in the ‘Home’ sheet
- Please keep column A and B empty, these columns are used by the tool for calculations
- Column C should not have any empty records
- You are free to rename or add new columns in the sheet
Step 4: Click on ‘Open Tool’ button
Step 5: Random Selection: If you want to pick random records from the data, enter the number of records to you want to pick and click on ‘Pick Samples’ button
Step 6: Tool will pick the samples from the data and filter them for you
Step 7: Stratified Selection: If you want to pick random records from the data but wants to ensure that at least few records are picked from each category (such as Country). Enter the number of records to you want to pick from each category and select the category name. Once done, click on ‘Pick Samples’ button
Step 8: Tool will pick the samples from the data and filter them for you
Step 9: Stay tuned with Excelsirji.com for more free tools and templates