Excel Risk HeatmapA heatmap is a graphical representation of data where the individual values are represented as colors. Heatmaps can be used to identify patterns and anomalies in large datasets, such as those created by Excel's analysis tools. An Excel Risk Heatmap is an easy way to visualize the risk levels of the data in your spreadsheet. The heat map uses colors to indicate how risky each cell value is, so you can easily identify where potential errors are hiding.