Resources
In Part I, combining simulation and decision tree analysis techniques was introduced. But what does that actually give you? What meaningful results are created to justify the work? Obviously there are good things to come, or I wouldn’t be bringing it up! A regular spreadsheet model can produce a distribution of outcomes like this: But […]
First of all, what is Monte Carlo simulation? Monte Carlo simulation is a computerized mathematical technique that allows people to account for variability in their process to enhance quantitative analysis and decision making. The technique is used by professionals in such widely disparate fields as finance, project management, energy, manufacturing, engineering, research and development, insurance, […]
When using @RISK (risk analysis software for conducting Monte Carlo simulations in Microsoft Excel), one of the output graphs is a tornado graph. Such graphs have their most direct interpretation for linear models with independent input distributions, such as in most typical cost budgeting models. In these cases, the regression coefficients provide a measure of […]
@RISK is used to assess the relative benefits of different drilling strategies for Lundin, a small exploration company, for field development. Click here to read the article.
A discussion of how modelling software is having an impact on monitoring the spread of global diseases. An example using @RISK to combat avian flu is included. Click here to read the article.
Researchers at the University of the Pacific’s Thomas J. Long School of Pharmacy and Health Sciences used Palisade’s NeuralTools to assist in the evaluation of both the impact of pathological processes and their implications for drug therapy. Click here to read the article.
According to a recent Harvard Business School study, higher IT capability directly correlates with superior revenue growth. Nearly all IT managers (at more than 150 large enterprises) surveyed for the study said they plan to increase outsourcing, particularly in the areas of application development and IT infrastructure. This article features PrecisionTree to evaluate outsourcing decisions. […]
This is the first in a series of articles that will examine some of the most commonly used decision-making methods for the selection or rejection of individual projects throughout the project portfolio management process. These methods determine whether or not a given project (either proposed or in process) should be included in your next capital […]
Palisade's Mirek Janusz provides a summary of the methodology and applications of neural networks software, including Palisade's NeuralTools. Click here to read the article.
I was looking for a software tool that was easy to use and would do forecasting based on complex parameters,’ said independent health care consultant Barb Tawney, who described to eWEEK Labs her use of NeuralTools from Lumivero. Click here to read the article.
In this article, @RISK is used to illustrate how to plan for retirement more accurately using Monte Carlo simulation. Click here to read the article. Download sample model and graph referenced in this article.
