AXIS Formula Tables allow the user to program their own algorithms and develop table data while maintaining compatibility with AXIS - even as you upgrade to newer versions of the system. They are a part of your Dataset, and are not a part of the AXIS source code (which is maintained by GGY in C++). For this reason, Formula Tables contain specific output fields supported by AXIS which will be used by the system in calculating the AXIS results. These output fields ensure that there are no problems when transferring data or converting to new versions, as AXIS will use the Formula Table results in the same way it does a stored table value.  AXIS Formula Tables allow table contents to be dynamically defined using AXIS script (VBA) code.

GGY has introduced Formula Tables at specific points in the system to improve the flexibility of the system. For example - an extremely powerful Formula Table has been developed to support the Dynamic Valuation feature. It can be selected in the Dataset Parameters Scenario tab, and currently supports over 50 special vendor functions in addition to all the built in AXIS Script functions.

While AXIS supports Formula Tables in selected assumption table fields, it is important to remember that a Formula Table may not be the most efficient or desirable solution for all your applications and, as such, should be used with care. If not used correctly, a Formula Table may slow down processing since the Formula Table results have to be processed at run time by an interpretive processor.

If the formula generated values are not dynamic, (dependant on values calculated during the run, dependant on the valuation scenario or part of a rebasing in reserve recalculation) a more efficient process would be to solve for the table values and save in a traditional table instead of a Formula Table. In cases where a dynamic table is required the Formula Table will allow for the table values to be generated as the system processes.