Because if your forecast is built on guesswork, you might as well be panning for gold in the lunchroom sink.
The Crucial Role of Data Reliability in Mining Forecasts
In mining, unreliable data is a bit like a dodgy drill bit — you might get the job done, but you’ll waste a lot of time, energy, and diesel along the way.¹²
Data reliability isn’t a buzzword. It’s the bedrock of every profitable operation. When your data is accurate, consistent, and current, your forecasts start working for you — not against you. You can plan confidently, react faster, and actually trust the numbers flashing up in those endless management meetings.³
Without reliable data, though, forecasting becomes part science, part séance. Decisions get made on “gut feel,” and suddenly your five-year plan looks more like a five-minute guess.
Reliable data turns spreadsheets into strategy. Without it, you’re basically trying to navigate a haul truck through the pit — in the dark — using last month’s pit design.¹²
The Hidden Cost of Missed Opportunities
Poor data doesn’t just cause headaches; it quietly drains millions in lost opportunity — and no one notices until it’s too late.¹
A global survey by BlackLine found that less than a third of executives actually trust their financial data⁶. That means two-thirds are signing off on million-dollar plans they secretly don’t believe.
In mining, that’s a dangerous gamble. Picture approving a new pit expansion or delaying an equipment fleet upgrade based on a spreadsheet typo. It’s like mistaking pyrite for gold — looks good under the lights, but it’ll burn you later.
One mid-tier miner we know discovered a single mislinked Excel formula that overstated haulage costs by nearly 10%.⁴⁵ It took weeks to find, hours to fix, and months to regain trust in the numbers.
Why Excel Is Showing Its Age Underground
Excel was brilliant when mining operations were simpler — one pit, one schedule, one scenario. But modern mining doesn’t live in a single tab anymore. You’re juggling multiple mine plans, fluctuating commodity prices, new deposits, contractor models, and “what-if” scenarios.
That’s when Excel starts groaning under the weight — version control chaos, broken links, “final_FINAL_v7” files, and late-night copy-paste marathons. By the time you’ve reconciled the numbers, the geology — and the market — have already changed.⁴⁵
The Case for Specialized Software Solutions
Specialized software is built for the complexities Excel can’t handle. It thrives on multi-scenario models, integrates live data, and delivers a single source of truth. No more duplicate spreadsheets or late-night reconciliation sprints.
Imagine being able to model three costed mine plans before lunch instead of one before the next quarter.
The benefits are hard to ignore:
📊 One source of truth – everyone’s finally looking at the same numbers.
⚙️ Automated updates – no more death-by-copy-paste.
💡 Scenario agility – “what-if” analyses in minutes, not months.
⏱️ Faster decisions – from the pit to the boardroom, everyone’s on the same page.
It’s the digital equivalent of upgrading from a manual haul truck to a fully autonomous fleet — same destination, radically different efficiency.
From Spreadsheets to Speed: Real-World Results
A mid-tier gold miner that recently transitioned from Excel to a specialized forecasting platform reported outstanding results and no desire to go back.
Within weeks, they were running multiple mine plan scenarios in hours, not days. They could model manning options, adjust budgets, and test “what-if” scenarios before the coffee went cold.
Management stopped waiting for reports and started acting on insights. Forecast meetings turned from arguments over numbers into discussions about outcomes.
Steps to Implementing Advanced Software — Without
the Heartburn
Switching from Excel to specialized software doesn’t need to feel like performing open-heart surgery on your data systems. A few smart steps make all the difference:
1. Assess your data reality. Where are the cracks, the delays, and the workarounds hiding?
2. Define your must-haves. Real-time data? Scenario modeling? Executive dashboards?
3. Pick your platform wisely. Choose a tool built for mining, not just “mining adjacent.”
4. Start small. A pilot project shows value fast and builds internal confidence.
5. Lean on vendor support. The good ones don’t just sell software — they help you make it sing.
6. Iterate and optimize. Once live, refine it as your operations evolve.
The goal isn’t to digitize your old spreadsheets — it’s to revolutionize how you forecast, plan, and perform.
The Bottom Line
In mining, every tonne, every dollar, every decision counts. Relying on outdated tools and unreliable data is like trying to hit nameplate production with a busted loader — you’ll work twice as hard for half the result.
Reliable data and modern software don’t just make your life easier — they make your operation smarter, faster, and more profitable.
Because in the end, the real treasure isn’t buried in the orebody — it’s buried in your data.
About Ramesys Global
For many years our budgeting, forecasting and reporting software has been providing finance and operations teams with clarity and confidence in their data to enable stakeholders to make better decisions, faster.
References
1.Redman, T.C. (2016) ‘Bad data costs the U.S. $3 trillion per year’, Harvard Business Review.
2. International Organization for Standardization (ISO) (2015) ISO 8000-61: Data quality management – Process reference model.
3. Gartner (2021) The business value of data quality. Gartner Research.
4. Panko, R.R. (2015) ‘What we know about spreadsheet errors’, Journal of End User Computing
5. Powell, S.G., Baker, K.R. and Lawson, B. (2009) ‘Impact of errors in operational spreadsheets’, Decision Support Systems
6. BlackLine. (2025). The state of financial data trust: Global survey of finance executives.
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