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If you are ever modeling something and you have a standard contract or something you are building up with very granular, but differentiated information, creating a template and using an indirect to add in or take out different tabs (representing contracts, clients or whatever) its useful. You can really see what drives different customer level data and inputs for very granular modeling.
If you've spread comps in different sheets for each company, you use indirect to aggregate the data by linking to the tab name.
We use it when we do a trial balance reconciliation. We grab all the monthly trial balances and move them into one workbook. We then use the indirect function when we want to pull the data from each individual sheet.
they slow down model because they make it harder for excel to know what changed in between f9s
You can resolve some of the adding rows / columns problem by nesting index(match()) and address() in the indirect but you will confuse everyone else
Best way to get around the row issues is to have row 1 and column A be numbers and letters referencing each row and column. Then you can link to the indirect you're trying to pull.
George do you mind writing out the formula so I can understand?
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