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What's New in
The DecisionTools Suite 7

New DecisionTools Suite 7.0 offers a range of improvements for any decision maker! From general use enhancements to new, specialized analytical features, there is something for everyone in the new DecisionTools Suite 7.0.

Plus, in the biggest change of all, a new member has been added to the DecisionTools Suite family: BigPicture, Palisade’s mind-mapping and data exploration tool, joins the full Suite! From strategic planning to data analysis to concept mapping, BigPicture adds a visual dimension to any decision process.

 

 
What's New in…
@RISK 7
Efficient Frontier Analysis (in RISKOptimizer)
Correlation using Copulas
Share Models and Graphs with Non-@RISK Users
Data Viewer to View any Excel Data with @RISK Charts
Customized Formatted Excel Reports
Enhanced Right-Click Menu
   
What’s New in the entire Suite:
The DecisionTools Suite 7
Introducing BigPicture
Palisade’s new five-star reviewed mind-mapping, diagramming, and data exploration tool
Automatic Software Updates
What's New in…
Evolver  
Efficient Frontier Analysis (Industrial edition)
What's New in…
PrecisionTree
Integration with BigPicture as a Decision Tree Viewer
What's New in…
StatTools
Data Viewer to View any Excel Data with @RISK Charts
New StatTools Analyses
   
What's New in…
NeuralTools
Data Viewer to View any Excel Data with @RISK Charts

 

What's New in
@RISK  7

Efficient Frontier Analysis

Efficient frontier analysis is very common in financial modeling, particularly in the area of portfolio optimization. An efficient frontier is a graph mapping out the optimal return for any risk level one is willing to accept.

For each acceptable risk level you specify, the RISKOptimizer feature of @RISK performs an optimization. In a financial portfolio, we are optimizing the expected return by changing the various allocations of investment funds. The risk level is a constraint that we vary across a range of possible values. The resulting efficient frontier is a 2-dimensional graphical representation of many optimization results. With efficient frontiers, you can greatly enhance the performance of any portfolio. This feature is also available in Evolver.

The efficient frontier feature is also applicable outside the field of portfolio optimization: it can be used whenever you want to perform many optimizations fast in order to analyze tradeoffs between two quantities in an optimization problem.

 

Calculation of the efficient frontier in RISKOptimizer.

 

Correlation Using Copulas

Correlation coefficients have long been used to calculate the interdependence between two or more variables. Now @RISK offers a new way to add correlations to your @RISK input distributions with copulas. Copulas are an alternative to traditional correlation matrices, and offer greater flexibility in the types of correlation patterns that @RISK can generate. This gives you more control over the details of the correlation pattern. Copulas are particularly useful in fields such as finance, where they are often used for modeling relationships between skewed – as well as symmetric – distributions. For instance, copulas are applied to option pricing and portfolio value-at-risk. They are also used to help identify economic capital adequacy, market risk, credit risk and operational risk.

@RISK provides several copula patterns to fit your modeling needs, including Clayton, Gumbel, Frank, Gaussian, and T copulas. And, you’re able to construct your own customized copula with our empirical copula feature, which mimics the correlation pattern of an arbitrary set of data.

To determine what copula and copula parameters to use, you can use @RISK’s copula-fitting feature. This process is analogous to fitting distributions with @RISK, and allows you to apply two different methods, depending on what kind of sample data you are working with, and what your needs are.

 

A Clayton copula, one of the many new copulas available in @RISK 7

 

Easily Share @RISK Models with Non-@RISK Users

Now you can graphically share input distributions and simulation results with those who do not have @RISK installed on their computers. They can simply open your workbook and see @RISK graphs attached to the cells they describe with the new Thumbnail graphs feature. No special viewer is required! Thumbnail graphs can also be used in @RISK to quickly preview graphs right in your model. Interested in diving deeper? Simply click on a Thumbnail to bring up the fully interactive @RISK graph.

 

@RISK Thumbnail graphs allow non-@RISK users to view distributions graphically without the need for a special viewer.

 

Data Viewer

This interactive feature allows you to view any Excel data set using @RISK graphs and tables. Not only can the Data Viewer use data from @RISK models, it can also pull data from other sources. No simulation needs to be run.

With an easy-to-use, intuitive interface, users can simply select any variable to instantly create graphs with @RISK’s amazing graphing engine—which can then be manipulated, customized, and used for reporting and sharing. You can create histograms, cumulative charts, trend, or box plots – all the same results graphs available in @RISK.

 

The Data Viewer Summary View, showing thumbnail histograms that can be dragged off for further analysis.

 

The Data Viewer also allows you to dig deeper into the data with the Correlation View, which gives an overview matrix of the various correlations between variables in a data set. Thumbnail scatter plots represent correlations visually, and any thumbnail can be “dragged off” for a larger, more detailed view of the same graph.

 

The Data Viewer Correlation View in @RISK showing relationships between variables.

In addition to @RISK, the Data Viewer feature is also available in StatTools, and NeuralTools.

 

Custom Excel Reports and PDF Reports

New custom Excel reports in @RISK enable you to create exactly the simulation results reports you want directly in Excel, utilizing a simple interface. Include just the graphs and statistics you want, and rearrange the items with just a few clicks. Your custom report will be automatically formatted for optimal viewing.

In addition, all @RISK reports can now be exported in PDF format. This is in addition to previous file format options.

 

New custom Excel reports in @RISK let you include what you want, where you want it.

 

Enhanced Right-Click Menu

Set up your model and view results graphs with a robust new @RISK right-click menu. This time saver lets you simply select the cell you are interested in, right click, and add a distribution, generate graphs, and more.

 

The new @RISK right-click menu provides a quick shortcut to output graphs, input distributions, and more.

 

 

What’s New in the entire
The DecisionTools Suite  7

 

Introducing    BigPicture

BigPicture is the newest component of the DecisionTools Suite. Offering diagramming and data visualization functionality in Excel, it allows you to create mind maps to organize thoughts and ideas, or create dynamic maps and reports from any type of spreadsheet data. Strategic planning, data analysis, and human resources org charts are just a few of the limitless applications of this powerful new tool.

Unlike other mind mapping software, BigPicture combines the power of visuals and spreadsheets directly in Excel. Any and all content in your spreadsheet cells can be linked to your BigPicture charts, reports, and maps. When you update your numbers or formulas in Excel, your visual diagrams automatically update as well. The integration is seamless.

As part of the DecisionTools Suite 7, BigPicture integrates directly with PrecisionTree, converting decision trees to visual mind maps. In addition, it will enable you to convert your most complex data and results into intuitive and flexible diagrams—making your reports more compelling and accessible to stakeholders and decision makers.

» More about BigPicture

 

A BigPicture dynamic data map of sales information by year, product, region, and country.

 

Auto-Updating

Stay current on your software easily. Now, all DecisionTools Suite 7 users can choose to receive automatic notification of updates from within the software. All the latest features and fixes will be accessible as soon as they’re released, with an optional one-click, auto-update system. No need to visit a web site to get the latest update.

 

What's New in
PrecisionTree

Integration with BigPicture

Offering unparalleled visual diagramming and reporting capabilities, BigPicture is becoming widely used for analyzing, discussing, and sharing information about complex decisions.

PrecisionTree now has the ability to export quantitative decision tree models directly to BigPicture, turning them into stunning visual maps that can be shared with any Excel user for presentation and discussion. With this capability, collaborative decision-making just got much easier, bridging the gap between quantitative probabilistic analysis and expert knowledge.

A decision tree from PrecisionTree as viewed in BigPicture for presentation and discussion.

 

 

What's New in
StatTools

 

Cluster Analysis

Cluster analysis groups similar items within your data, so that items in the same group are more similar than to those in other groups. This helps the user highlight and quantify differences between data points.


A Dendrogram is part of the Cluster Analysis report; it shows the steps of the process of grouping items based on the degree of similarity.

 

Principal Component Analysis

Takes large datasets and reduces the dimensionality, eliminating unimportant details while highlighting strong patterns within the data.


The Principal Component Analysis report includes a Score Plot, which represents the input multi-dimensional data in two dimensions (with optional color-coding based on a categorical variable).

 

Upgraded Regressions

In response to customer feedback, the StatTools regressions analyses are now easier to use than ever before. Setting up dummy variables and other manual processes are a thing of the past. Now, you can perform complex regressions in just a single click.

In addition, more complex relationships in data can be analyzed by using non-linear variable transformations. Moreover, the new StatTools regression analysis will handle big data sets with ease, thanks to significant speed improvements.

Categorical Bar Charts

New, eye-catching bar chart graphs for categorical variables provide a convenient method for showcasing your results.


This Bar Chart shows multiple categorical variables at a glance.

 

Kruskal-Wallis Test

This non-parametric test comparing three or more populations has been added in response to customer demand.

 

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