University of New Brunswick Applies @RISK to Sustainable Seafood Farming
Aquaculture has become a booming industry in many regions of the world. According to the World Bank, nearly two-thirds of the seafood we consume will be farm-raised in 2030. However, commercial aquaculture can have negative environmental impacts, such as high nutrient waste and low oxygen environments. Integrated Multi-Trophic Aquaculture (IMTA) are managed, multi-species aquaculture systems designed to improve environmental management, and increase harvest value through product diversification and recycling of nutrients.
To achieve these benefits, all the interacting components must be understood and carefully optimized. Dr. Gregor Reid, a senior research scientist with the University of New Brunswick, used @RISK to determine the ideal ratios of kelps to uptake soluble metabolites from a salmon IMTA system. A paper detailing this work appeared in the journal Aquaculture in May of 2013.
For his @RISK model, Reid gathered inputs from three diverse sources: the commercial industry, academic literature, and field research. Rather than use single static values for the model inputs, Reid used stochastic distributions for several inputs with ranges of uncertainty, such as digestibility of salmon feed components and nutrient content of IMTA kelps. Known inputs or easily determined values, such as feed composition (listed on all feed bags) could be left as static inputs. Model inputs with sufficient empirical sample data were fit with the @RISK’s distribution fitting functions, testing 15 different theoretical distribution types, and using maximum likelihood estimators to rank the best fits.
After running 10,000 iterations in @RISK, Reid found that “it’s not going to be possible to do full dissolved nutrient recovery with kelps in North America, unless the number of fish being farmed on site is reduced to make room for other species,” He says—but, “one-hundred percent nutrient sequestration doesn’t need to be the only successful endpoint in such systems.”
» Read the full case study
» More about @RISK
@RISK has been a great way to
communicate uncertainty in complex
systems, and its ease of use with Excel
spreadsheets make it a highly intuitive and
Dr. Gregor Reid, Senior Research Scientist,
University of New Brunswick
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. Palisade offers a complimentary Live Web Training session to all instructors who order a Course License.
» 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 6 for your course by contacting:
Palisade Academic Sales
800-432-7475 / 607-277-8000
The DecisionTools Suite is a great way to present quantitative techniques in a straightforward, easy-to-understand way for students.
Excerpted from Learning Statistics with StatTools,
by Dr. Chris Albright, published by Palisade Corp.
Because so many statistical procedures assume that a variable is normally distributed, it is useful to have methods that check this assumption. The example file below and the step-by-step instructions show three commonly used procedures to test normality using StatTools. The first two of these are formal hypothesis tests, where the null hypothesis is that the distribution is normal, and the alternative is that it is any nonnormal distribution. The third procedure is not a formal hypothesis test, but it provides graphical evidence of whether a distribution is normal.
» Download example file and view step-by-step instructions
The DecisionTools Suite is a key component in major textbooks in business, OR, and engineering.
Business Analytics: Data Analysis & Decision Making, 5th Edition
By Dr. Chris Albright and Dr. Wayne Winston
Become a master of data analysis, modeling, and spreadsheet use with Business Analytics: Data Analysis & Decision Making, 5th Edition! This quantitative methods text provides users with the tools to succeed with a teach-by-example approach, student-friendly writing style, and complete Excel 2013 integration. It is also compatible with Excel 2010 and 2007. Problem sets and cases provide realistic examples to show the relevance of the material. The Companion Website includes: the DecisionTools Suite (@RISK, StatTools, PrecisionTree, TopRank, RISKOptimizer, NeuralTools, and Evolver); SolverTable, which allows you to do sensitivity analysis; data and solutions files, PowerPoint slides, and tutorial videos.
» Learn more from the publisher
The DecisionTools Suite is part of complex analyses published in white papers.
Optimum Utilization of Fly Ash for Stabilization of Sub-Grade Soil using
Jyoti S. Trivedi,
Sandeep Nairb, Chakradhar Iyyunnic
Elsevier, SciVerse Science Direct, Procedia Engineering:
Volume 51, 2013, Pages 250–258
Sub-grade soil stabilization is one of the primary and major processes in the construction of any highway. The aim of this research paper is to formulate a model based on Genetic Algorithm which can be used to predict variation in the values of CBR of the Sub-grade Soil with the addition of a specific percentage of Fly Ash. The input values for this study were those which directly affect the CBR values i.e., directly proportional to CBR. It includes Liquid Limit (LL), Plasticity Index (PI), Optimum Moisture Content (OMC) & Fraction of Fly Ash added (F.A in %). Palisade's Evolver was used for the analysis of stabilization of soil using fly ash.
Read the full paper here
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
» Univ. of New Brunswick
Applies @RISK to
» Licensing Options
» Teaching Tips &
» Textbook of the Month
Business Analytics: Data
Analysis & Decision Making,
» Featured White Paper
Optimum Utilization of Fly
Ash for Stabilization of Sub-
Grade Soil using Genetic
» About Palisade and the
Click to chat live with
a sales representative
The 2014 Risk Conferences are "must attend" events for quantitative risk and decision analysis professionals. Join us for an intensive day of software training presented by Palisade trainers and consultants, and real-world case studies presented by industry experts.
» Copenhagen: 31 March
» Amsterdam: 3 April
» Dubai: 8 April
» Bogotá: 13 May
» Madrid: 20 May
» Seattle: 24 June
» Washington, DC: 26 June
» Chicago: 17 July
» Sydney: 21 August
» Beijing: 2 September
» Brisbane: 18 September
» London: 7 October
» Frankfurt: 9 October
» New Orleans: 19-20 Nov
» Training Seminars
Brisbane: 30 Sept-2 Oct
Jakarta: 4-6 November
Singapore: 18-20 November
Melbourne: 1-3 December
São Paulo: 20-22 de agosto
Rio de Janeiro:
24-26 de setembro
São Paulo: 16-17 de outubro
22-24 de outubro
São Paulo: 29-31 de outubro
Brasilia: 19-21 de novembro
Rio de Janeiro:
26-28 de novembro
London: 16-18 September
Oslo: 23-25 September
Frankfurt: 29 Sept-1 Oct
Moscow: 1-3 October
Amsterdam: 6-8 October
Johannesburg: 15-17 October
London: 28-30 October
London: 25-27 November
Villahermosa: 19-21 de agosto
Quito: 21-23 de octubre
Santiago: 3-5 de noviembre
New York City:
Houston: 16-18 September
Denver: 15-17 October
» Trade Shows
PMI Global Congress
INFORMS Annual Meeting
San Francisco, CA
EMEA & India
Africa Oil & Gas EXPO 2014
Sandton Convention Centre
Johannesburg, South Africa
SPE ATCE 2014
27-29 October 2014
» Live Web Training
Decision-Making and Quantitative Risk Analysis
4-5 Sept, 1pm-5pm ET
15-16 Sept, 1pm-5pm ET
Quantitative Risk Analysis
using DecisionTools Suite
20-21 Oct, 9am-1pm ET
3-4 Nov, 9am-1pm ET
Palisade software is available in fully functional trial versions. Try @RISK or any of our software today!
The complete risk and
decision analysis toolkit
The world's most widely
used risk analysis tool
» @RISK for Excel
» For Project Management
» For Six Sigma
Visual decision analysis
Sophisticated neural networks for spreadsheets
Advanced statistical analysis for spreadsheets
The Innovative Optimizer
Intel and the Intel logo are trademarks or registered trademarks of Intel Corporation or its subsidiaries in the United States and other countries.
|©2014 Palisade Corporation, visit www.palisade.com
798 Cascadilla Street, Ithaca, NY 14850 USA, +1 607 277 8000 email@example.com
Av. Presidente Vargas 435, Sala 501, Centro, Rio de Janeiro CEP 20071-001, +55 (21) 2586-6334 firstname.lastname@example.org
Palisade Europe UK Ltd
31 The Green, West Drayton, Middlesex, UB7 7PN, UK, +44 1895 425050 email@example.com
Palisade Asia-Pacific Pty Limited
Suite 404, L4, 20 Loftus Street, Sydney NSW 2000 Australia, +61 2 9252 5922 firstname.lastname@example.org
Palisade Asia-Pacific, Tokyo Office
〒 150-8512 東京都渋谷区桜丘町 26-1 セルリアンタワー15F 電話 03-5456-5287