In 2010, economists Carmen Reinhart and Kenneth Rogoff made a pivotal claim in their work on austerity, only to discover a significant Excel error that miscalculated economic growth.
Fannie Mae's 2003 accounting errors, totaling over $1bn, were traced back to a faulty Excel formula, raising serious concerns about their internal financial controls.
MI5 reported that a spreadsheet formatting error led them to tap 134 incorrect phone numbers in 2010, highlighting the potential consequences of data inaccuracies.
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