Palisade's DecisionTools Suite - the complete risk and decision analysis package for Excel - has been adopted by top MBA schools around the country. Four leading management science textbooks from Duxbury Press - Practical Management Science, Making Hard Decisions with DecisionTools, Managerial Statistics, and Data Analysis & Decision Making - incorporate extensive examples, case studies, and exercises using the tools in the DecisionTools Suite.
|
As a result, the DecisionTools Suite is currently being taught at such prominent institutions as the University of Pennsylvania, Cornell University, Northwestern University, Yale University, Columbia University, the University of Michigan, the Massachusetts Institute of Technology, and dozens of others.
With
greater business and industrial reliance on quantitative methods to assess risk and
analyse decision processes, most students in business courses are expected to master
these techniques. About 40,000 MBA students currently use the DecisionTools Suite in
conjunction with the Duxbury Press textbooks. Widespread adoption of the Suite is expected
to accelerate the growing trends toward using techniques like Monte Carlo simulation
and decision trees throughout corporate America.
According
to Curt Hinrichs, Publisher of management science and applied statistics texts at Duxbury
Press, "The DecisionTools Suite adds a level of functionality and learning that
take the concepts presented in the books to a new level. Several of these books have
been tried and true references in graduate business curricula for years. By giving
today's students the opportunity to work through real-life examples using the analytical
techniques DecisionTools offers, we have opened up a whole new level of risk and decision
analysis that will make the next generation of business leaders more savvy than ever
before."
The DecisionTools Suite includes:
Analysing
Uncertainty: @RISK 4.5. Monte Carlo simulation is the most widely used computational
technique to simulate processes in which there is uncertainty--in other words in
almost any everyday decision. When it comes to Monte Carlo simulation software, @RISK
has become the gold standard for its flexibility of application and capacity to handle
complex inputs and large data sets.
Decision Trees and Influence Diagrams: PrecisionTree®. PrecisionTree creates influence diagrams and decision trees in existing spreadsheets. Influence diagrams are used to see the relationships among components of a problem, and decision trees make use of this information to model a sequence of events. PrecisionTree generates a full statistical report and risk profile graphs and includes Sensitivity Analysis and other features.
Distribution Fitting: BestFit®. Many statistical computations are based on distribution curves, and fitting distributions to data focuses analyses, saves time and avoids costly errors. BestFit is a visual distribution-fitting tool that does exactly what its name promises. Powerful enough to accommodate multiple data sets and up to 100,000 data points, BestFit can use data from a text file, Excel or any Windows application to identify distributions according to "goodness of fit."
Distribution Viewing: RISKview™. RISKview is a popular interactive graphical tool for viewing and assessing probabilities. It allows the user to view, review, and redraw probability distribution functions. The new version features an Office-style interface, presentation quality graphics, overlay distribution graphs, and an improved Distribution Artist for user-specified distribution curves.
What If Analysis: TopRank®. For any spreadsheet TopRank automatically determines which cells affect simulation results the most and ranks them in order of importance. Results can be displayed as Tornado graphs and in a full statistical report. Advanced features include a What-if Wizard, Multi-Way What-if Analysis, and support for data tables.
Other colleges and universities using the DecisionTools Suite include:
 Arizona
State University Boston
University Carnegie
Mellon University Duke University Georgetown
University Indiana
University Michigan
State University New York
University |
Purdue
University Rice University Rutgers
University Texas A&M
University University
of Texas Austin University
of California Berkeley University
of Connecticut University
of Florida |
University
of Kansas University
of Maryland University
of Pittsburgh University
of South Carolina University
of Southern California University
of Utah University
of Wisconsin ...and
many others. |
Click on one of the topics below for more information.
