Palisade Corporation
Palisade Publishes Three New Books by 
Roy Nersesian on Business Risk Management

Palisade Publishes Three New
Books by Roy Nersesian on
Business Risk Management

Leading risk analysis expert and professor at Monmouth and Columbia Universities Roy Nersesian has written three practical, how-to textbooks on applying quantitative risk analysis techniques to a wide range of business problems. All books include step-by-step examples using Excel and DecisionTools Suite software and example Excel files, enabling readers to put this expertise to work immediately. @RISK Bank Credit and Financial Analysis examines a wide range of credit and related issues faced by banks and investors. Using @RISK, RISKOptimizer, and PrecisionTree, Prof. Nersesian tackles everything from cash flow analysis, options and swaps, insurance risk, and everything in between.
Roy Nersesian Books

RISKOptimizer for Business Applications explores business problems in marketing, finance, and operations that require optimal solutions, yet that also contain uncertainty. Using RISKOptimizer, Prof. Nersesian describes how to find the best solution to problems such as reorder points and safety stock, supply chain management, personnel scheduling, and much more.

Evolver Solutions for Business addresses common business problems that require an optimal solution, yet where no linearity exists. That is, the book tackles typical problems that cannot be solved with traditional solvers such as Excel’s Solver. Loan and stock portfolios, production scheduling, location planning, route assignments, pricing models, and a host of other examples are included.

“@RISK’s specialized keystrokes and basic features are quickly learned, while the simulation engine and advanced features are powerful,” Mr. Hornbacher says. “That efficiency allows more time for students to concentrate on context, data collection, heuristics, biases, results interpretation and the leadership essentials of decision-making under uncertainty.”

» Download a sample chapter and example file from each book
» Read more and order online

@RISK I continue to be amazed at the
      depth of the software.  Trial Versions

                            Dr. Phillip Rokicki – Professor at H. Wayne
                            Huizenga School of Business & Entrepreneurship
                            Nova Southeastern University

 

Spotlight

Palisade is happy to showcase professors who implement our tools into their teaching. This month we would like to introduce you to Dr. Robert Nydick from Villanova University.

March Madness
Simulations Demonstrate Uncertainty and Decision-Making

With 68 teams playing 67 games over three weeks, the annual U.S. men’s college basketball tournament has more than a 100 quintillion possible outcomes.

No wonder it’s called “March Madness.”

And no wonder Villanova University Professor Robert Nydick, PhD, finds that the tournament makes an excellent simulation to show his MBA students how @RISK software can measure the impact of uncertainty and enhance decision-making.

“@RISK is an incredibly useful tool that allows the user to measure the impact of that uncertainty on a specified output cell, “ Dr. Nydick says. “The fact that a distribution of output values can be identified along with other output statistics provides a tremendous wealth of information that can be used to improve decision making.”

Of course, Dr. Nydick’s “Simulation for Business Analytics” course isn’t just about gauging sports outcomes. He incorporates @RISK software into models looking at everything from inventory to cash flow and investment analysis. Dr. Nydick also exposes his students to other programs in the DecisionTools Suite and appreciates the fact that many of the tools in the suite can “talk” to each.

“I use Precision Tree to teach decision trees,” he says. “The fact that I can then overlay @RISK onto a decision tree to allow for uncertain probabilities and payoffs within the tree and then study the impact that that uncertainty has on different sequences of decisions provides amazing insights for the students.”

In the fall of 2012, undergraduate students at Villanova will also have a chance to learn about enhancing business decisions with the DecisionTools Suite. Dr. Nydick is the course coordinator for a new course called “Risk and Decision Analytics,” which will be required for all 450 undergraduate business students.

Dr. Nydick is a Professor of Management and Operations and a 25-year veteran at Villanova University, located in Villanova, PA, a suburb of Philadelphia.

» More about Dr. Nydick, his courses, and publications

Recent School Adoptions

Over 60,000 students use the DecisionTools Suite annually in their MBA and graduate level programs. In 2010, over 800 universities worldwide adopted the DecisionTools Suite. Professors in business, engineering, OR, and other fields keep their students on the cutting edge by teaching the latest analytical techniques from Palisade. Some major schools with programs and courses that standardized on the DecisionTools Suite last month include:

US and Canada:

  Brigham Young University
Carnegie Mellon University
Colorado School of Mines
Dartmouth College
Florida International University
George Washington University
High Point University
Indiana University
Jackson State University
New York University
Ohio State University
Oklahoma State University
Oregon State University
Penn State University
Polytechnic University
Royal Military College
St. John's University
Syracuse University
Texas A&M University
United States Military Academy
University of Arkansas
University of British Columbia, Okanagan
University of Ontario Inst. of Technology
University of Texas, Austin
University of Wisconsin, Madison


International:

  Cheung Kong Graduate School of Business
Curtin University
Fundação Univ. José Bonifácio
José Soares Ferreira Neto
Royal Veterinary College
Swansea University
Universidad de Lima
Universidad EAFIT
Universidad ORT Uruguay
Licensing Options

There are three easy ways to get the DecisionTools Suite for your students:

 

Course Licenses available from Palisade. These are economical, annually renewing bulk licenses for both
network lab and laptop installation.
» Learn more

Student Versions from Palisade. These are 12-month versions available for purchase individually by students through either the Palisade web site or the school store.
» Learn more

Textbook Editions available bundled with textbooks.
These are time- and model-limited licenses.
» Learn more

Get DecisionTools Suite 5.7 for your course by contacting:

AddressPalisade Academic Sales    
800-432-7475 / 607-277-8000
academic@palisade.com

@RISKWe standardized on Microsoft Excel as
      our analysis platform for all MBA courses,
      so we wanted a statistical analysis
      package that worked in Excel. StatTools
      fits the bill and provides robust and
      accurate analysis. My students are
      delighted with StatTools, they find it
      easy to learn and easy to use.Trial Versions

                         Dr. Jack Yurkiewicz,
                                  Professor of Management Science,
                                  Pace University - Lubin School of Business
                             

Teaching Tips & Examples

The DecisionTools Suite is a great way to present quantitative techniques in a straightforward, easy-to-understand way. Each month we feature an example or tip illustrating how students can gain "real world" benefits by implementing quantitative analysis.

Simulating Development of a New Drug
Excerpted from Financial Models Using Simulation and Optimization by Wayne Winston, published by Palisade Corporation

The pharmaceutical business deals with a very high degree of uncertainty. Over 90% of all products under development fail to come to market resulting in large losses. Products that do come to market (like Viagra and Prozac) can earn multibillion profits annually for 10-15 years (until their patent expires). @RISK is a natural tool to use in an effort to estimate whether a new product is worth developing.

Palisade Corporation Download the example spreadsheet and step-by-step instructions

Textbook of the Month

The DecisionTools Suite is included in dozens of major textbooks, and is a key component of more titles every year. Authors use the DecisionTools Suite to illustrate key analytical concepts and build examples demonstrating the value of quantitative techniques in business, OR, and engineering.

Data Analysis and Decision Making
with Microsoft Excel
By Dr. Chris Albright, Wayne Winston, and Christopher Zappe

Master data analysis, modeling, and spreadsheet use. With a teach-by-example approach, student-friendly writing style, and complete Excel integration, this business statistics text provides you with the tools you need to succeed. Margin notes, boxed-in definitions and formulas in the text, enhanced explanations in the text itself, and stated objectives for the examples found throughout the text make studying easy. Problem sets and cases using StatTools provide realistic examples that enable you to see the relevance of the material to your future as a business leader. @RISK, PrecisionTree, and StatTools are all covered.

The 4th edition has been updated for Excel 2007 and 2010.

» Learn more from the publisher
» See a list of books bundled with Palisade software

Featured White Paper

Professors, PhD candidates, practitioners and others often use the DecisionTools Suite as part of a complex analysis to address important problems. These analyses are published in white papers. Each month we will feature a different academic white paper addressing a wide range of issues.

Cost of Universal Influenza Vaccination of Children in Pediatric Practices
By Byung-Kwang Yoo, MD, PhD, Peter G. Szilagyi, MD, MPH, Stanley J. Schaffer, MD, MS, et al., published in Pediatrics 2009

The goals were to estimate nationally representative pediatric practices’ costs of providing influenza vaccination during the 2006 –2007 season and to simulate the costs pediatric practices might incur when implementing universal influenza vaccination for US children aged 6 months to 18 years.

Palisade Corporation  View the full paper

Palisade Corporation
The Academic Global Leader in
Risk and Decision Analysis
Palisade Corporation is the world’s leading provider of risk and decision analysis software and solutions. Founded in 1984, its products @RISK and the DecisionTools Suite are used by over 95% of the Fortune 100, in nearly every industry around the world. Palisade is headquartered in New York State, and has offices in London, Sydney, Rio de Janeiro, and Tokyo.

What is The DecisionTools Suite?

The DecisionTools Suite is the world’s only integrated set of risk and decision analysis programs. The Suite includes @RISK for Monte Carlo simulation, PrecisionTree for decision trees, and TopRank for “what if” sensitivity analysis. In addition, DecisionTools Suite comes with StatTools for statistical analysis and forecasting, NeuralTools for predictive neural networks, and Evolver and RISKOptimizer for optimization. All programs work together seamlessly, and all integrate completely with Microsoft Excel for ease of use and maximum flexibility.

The Suite is offered in three affordable and flexible licensing options for those in academia: Student Versions, Course Licenses and Full Academic Versions.

» Schools using Palisade software
»
Textbooks using Palisade software

In This Issue

» Palisade Publishes Three
   New Books by Roy
   Nersesian on Business
   Risk Management

» Spotlight
   Dr. Robert Nydick
   Villanova University

» Recent School Adoptions

» Licensing Options

» Teaching Tips &
   Examples

   Simulating Development
   of a New Drug

» Textbook of the Month
   Data Analysis and Decision
   Making with Microsoft Excel

» Featured White Paper
   Cost of Universal Influenza
   Vaccination of Children in
   Pediatric Practices

» About Palisade and the
   DecisionTools Suite

 

Keep in Touch
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Risk Conferences

2011 Palisade Risk Conferences
Industry experts present real-world case studies about innovative and interesting approaches to risk and decision analysis. Also, ever-popular workshops and training delivered by Palisade consultants, and sneak previews of new software.
» Amsterdam: 29-30 March
» Mexico City: 1-2 June
» Rio de Janiero: 14-15 Sept
» Las Vegas: 10-11 Nov

2011 Palisade Roadshow
These seminars are designed to show companies and individuals the benefits of using Palisade solutions – and will also show existing customers how the latest releases can add even more value to their business.
» Bangkok: 15 Sept
» Jakarta: 23 Sept
» Chicago: 26 Sept
» Singapore: 27 Sept
» Detroit: 30 Sept
» Kuala Lumpur: 30 Sept
» Sydney: 10 October
» Melbourne: 11 Oct
» Brisbane: 3 November
» Dublin: 4 November
» Perth: 15 November
» London: 24 November

Events

» Trade Shows
Palisade will be attending the following trade shows in the coming months.
Asia-Pacific
2011 Asia Pacific Oil & Gas Conference and Exhibition
September 20th - 22nd
Jakarta Convention Centre
Jakarta, Indonesia
US/Canada
PMI Global Congress 2011
North America

October 22nd – October 25th
Dallas/Fort Worth, TX
SPE ATCE
October 30th – November 3rd
Colorado Convention Center
Denver, CO
INFORMS Annual Meeting
November 13th – 16th
Charlotte Convention Center
Charlotte, NC
DSI - Decision Sciences Inst
November 19th – 22nd
Boston MA


»
Training Seminars
Asia-Pacific
Melbourne: 12-13 October
Perth: 16-17 November
Sydney: 7-9 December

Brazil
Rio de Janeiro:
  4-6 de outubro
São Paulo:
  18-20 de outubro
Recife:
  25-27 de outubro
Belo Horizonte:
  9-11 de novembro
São Paulo:
  23-25 de novembro
Rio de Janeiro:
  30 de nov a 2 de dezembro
Brasilia:
  7-9 de dezembro

EMEA & India
Den Haag: 27-29 September
Madrid: 5-7 October
München : 11-12 Oktober
London: 26-28 October
Aberdeen, 16-18 November
London: 21-23 November

Latin America
Lima, Perú: 4-6 de octubre
Caracas, Venezuela:
   18-20 de octubre
Santiago, Chile:
   7-11 de noviembre
México, D.F.:
   21-25 de noviembre

North America
Denver: 13-15 September
Toronto: 20-21 September
Chicago: 27-28 September
Boston: 11-13 October
Dallas: 25-27 October
Atlanta: 6-7 December


»
Live Web Training
Decision-Making and Quantitative Risk Analysis
using @RISK
PART I

2-3 November, 11am-3pm ET

PART II
17-18 Nov., 11am-3pm ET

Decision-Making and Quantitative Risk Analysis using the DecisionTools Suite
PART I

21-22 Sept, 9am-1pm ET
1-2 December, 11am-3pm ET

PART II
3-4 October, 1pm-5pm ET
15-16 Dec., 11am-3pm ET

Project Risk Assessment Using @RISK for Project
7 November, 9am-1pm ET

» Live Webcasts
These complimentary sessions are 30-60 minutes, held via web conference. See industry case studies, software demos, applications, and more.

Introduction to Risk & Decision Analysis using @RISK
September 20, 2011,
10:00am GMT

Chris Marlow
Palisade Corporation
» Register

Modeling Behavior Using
@RISK and PrecisionTree:
Why probability estimates
aren’t always what they seem

October 6, 2011, 11:00am ET
Christopher Brand,
Captum Capital Limited
» Register

Modeling Oil & Gas Risk
Problems using the
DecisionTools Suite

October 19, 2011, 2:00pm
Australia EST

Rishi Prabhakar,
Palisade Corporation
» Register

Petroleum Resource Evaluation Using @RISK
November 10, 2011,
11:00am ET

Dr. Ronald Brimhall
» Register

Einführung zur Risiko-
& Entscheidungsanalyse
mit @RISK und der DecisionTools Suite

September 21, 2011,
10:00am GMT

Stephan Beeusaert
Palisade Corporation
» Register
 

Trial Versions

Palisade software is available in fully functional trial versions. Try @RISK or any of our software today!

The DecisionTools Suite
The complete risk and
decision analysis toolkit

» English
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@RISK
The world's most widely
used risk analysis tool
@RISK» @RISK for Excel
@RISK» @RISK for Project
@RISK» @RISK for Six Sigma

PrecisionTree
Visual decision analysis
for spreadsheets

NeuralTools
Sophisticated neural networks for spreadsheets

StatTools
Advanced statistical analysis for spreadsheets

Evolver
The Innovative Optimizer
for Windows


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Palisade Corporation
©2011 Palisade Corporation, visit www.palisade.com

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