PrecisionTree
Visualize Different Outcomes with Decision Trees
Select the Best Option with Confidence
PrecisionTree helps address complex sequential decision models by visually mapping out, organizing, and analyzing decisions using decision trees . Decision trees are quantitative diagrams with nodes and branches representing different possible decision paths and chance events. This helps you analyze the value of all possible alternatives, so you can choose the best option with confidence.
Overview
With PrecisionTree, you can analyze and see the payoff and probability of each possible path through a decision tree. PrecisionTree nodes and functions may be added to any cell in a spreadsheet and can include arguments that are cell references and expressions – allowing great flexibility in defining decision models.
PrecisionTree determines the best decision to make at each decision node and marks the branch for that decision TRUE. Once your decision tree is complete, PrecisionTree creates a full decision analysis statistics report on the best decision to make and its comparison with alternative decisions. PrecisionTree can also create a Risk Profile graph that compares the payoffs and risk of different decision options. It displays probability and cumulative charts showing the probabilities of different outcomes and of an outcome less than or equal to a certain value.
Works with Microsoft Excel
Plan Better Strategies
Visually Map out Decisions
Choose the Best Option with Confidence
Communicate Decision Paths to Others
Industries
Energy & Utilities
Insurance & Reinsurance
Finance & Banking
Manufacturing & Consumer Goods
Construction & Engineering
Aerospace & Defense
Customer Success Stories
Learn how PrecisionTree has helped analysts and executives improve decision making.
Dr. Douglas Armstrong
Actuarial Analyst, World Conservation Union
PrecisionTree is easy to learn, and…is an effective approach to minimizing the risk of disease to conserve endangered species.
Bob Hunt
Associate Director for Investment Analysis, Procter and Gamble
PrecisionTree has been very useful in helping us break complex projects down into individual decision options, helping us understand the uncertainties, and ultimately helping us make superior decisions.
Manuel Viera
CEO, Metaproject
PrecisionTree is an excellent tool for modeling and conceptualizing real-life problems and analyzes alternatives that are technically feasible and economically viable in an Excel format. This was ideal for a major disaster such as the trapped Chilean miners.
Dr. Rainer Hamann
Topic Manager Risk Assessment, Safety Research, Det Norske Veritas (DNV)
PrecisionTree makes it straightforward to quickly develop event trees. These are essential to our analysis when looking at how to reduce the both the number of shipping incidents and the consequences should they occur.
How PrecisionTree Is Used
PrecisionTree has a multitude of applications, including:
- Oil, Gas, & Mineral Reserves
- Litigation & Bidding Strategy
- Real Options Valution
- Supply Chain Management
- Medical Treatment Planning
Oil, Gas, & Mineral Reserves
Litigation & Bidding Strategy
Plan step-by-step strategies in complex legal or business negotiations, or when bidding on contracts. Map what could happen at each stage and your response to, along with probabilistic chance events.
Real Options Valution
Quantify the value of real options, or the right to undertake an investment or not, in the face of uncertainty future outcomes.
Supply Chain Management
Medical Treatment Planning
Establish sequential, multi-stage treatment plans for complex medical conditions given uncertain outcomes at each stage.
Oil, Gas, & Mineral Reserves
Oil, Gas, & Mineral Reserves
Litigation & Bidding Strategy
Litigation & Bidding Strategy
Plan step-by-step strategies in complex legal or business negotiations, or when bidding on contracts. Map what could happen at each stage and your response to, along with probabilistic chance events.
Real Options Valution
Real Options Valution
Quantify the value of real options, or the right to undertake an investment or not, in the face of uncertainty future outcomes.
Supply Chain Management
Supply Chain Management
Medical Treatment Planning
Medical Treatment Planning
Establish sequential, multi-stage treatment plans for complex medical conditions given uncertain outcomes at each stage.
Key Features
Visual, Probabilistic Decision Trees
PrecisionTree allows you to visually understand a decision, identify best options, and communicate results to others. You’ll see the payoff and probability of each possible path through a decision tree in Microsoft Excel.
100% Microsoft Excel Integration
With PrecisionTree, you never leave your spreadsheet, allowing you to work in a familiar environment, and get up to speed quickly.
Full Statistics Reports and Graphs
See results in risk profile graphs, 2-way sensitivity, tornado graphs, spider graphs, policy suggestion reports, and strategy-region graphs.
Bayesian Revision
“Flip” one or more chance nodes to show probabilities calculated using Bayes’ Rule. This is valuable when the probabilities of a model are not available in a directly useful form. For example: You need to know the probability of an outcome occurring given the results of a particular test. The test’s accuracy may be known, but the only way to determine the probability you seek is to “reverse” a traditional decision tree in Microsoft Excel using Bayes Rule.
Advanced Features
Set up your decision tree in Microsoft Excel exactly as you need it with logic nodes, reference nodes, linked trees, custom utility functions, and influence diagrams.
Included with The DecisionTools Suite
The complete risk and decision analysis toolkit, including @RISK, PrecisionTree, TopRank, NeuralTools, StatTools, Evolver, RISKOptimizer, and ScheduleRiskAnalysis.
Additional Benefits
Subscription
Your software subscription has you fully covered.
- Free upgrades when new software versions are released
- Full access to Technical Support
Support
Technical Support is available to help with installation, operational problems, or errors.
- Included with subscription
- Phone, web, or email
Customizable
Leverage the power of PrecisionTree in your own custom application with Palisade Custom Development.
- Engage Palisade to design your solution
- Standardize your analyses and reduce learning curves